Conveyancing: Purchase of a freehold residential property
Our fees cover all of the work required to complete the purchase of your freehold property, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
Our fees for a typical house purchase range from around £695 for a simple transaction to around £6,000 for a substantial historic building on unregistered land. These figures may, however, vary in cases with special complications. That’s why we will always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase.
We will always advise you immediately about any complication, and discuss the potential impact on the price before any additional charges are incurred.
Here is an example of a costs estimate for our conveyancing fees and disbursements for a freehold purchase (registered whole title) up to £150,000 for an individual purchaser buying with a mortgage:
|Search fees (approximately)||£275.00|
|HM Land Registry fee||£40.00|
|HM Land Registry search fee||£3.00|
|Land Charges search fee||£2.00|
|Costs in connection with an electronic money transfer fee||£40.00|
|SDLT at the standard rate (no reliefs or surcharges)||£500.00|
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
How long will my house purchase take?
The timing of each transaction will vary. The purchase of a property in a chain will on average complete within 8 to 10 weeks from receipt of the contract papers from the seller’s solicitors. Whether or not this is achievable will depend on a number of factors, some of which will be outside of our control, such as receipt of searches, mortgage offer (if appropriate), the seller’s satisfactory replies to enquiries, resolution of title issues, and general co-operation by the seller, the seller’s solicitor and other parties in the chain. It will become clear as the matter proceeds whether this timescale will be achievable, and a flexible approach by all is important
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances.
Our fee assumes that:
Below is a list of the types of things for which we charge more:
NB: This list is not intended to be exhaustive.