Residential Conveyancing Costs Information

We are required to set out price and service information for dealing with residential conveyancing. 

Please note that there are various factors which increase or decrease legal costs or disbursements significantly as follows:

  • the value of the property
  • if the purchaser is a first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • whether there is first registration of title
  • whether there is a mortgage or not, or Islamic mortgage
  • in purchase cases, whether the property is a primary residence, buy to let or second/holiday home
  • whether there are multiple owners
  • whether there is a shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • whether it is a purchase under right to buy
  • whether it is a purchase at auction
  • whether the property has been repossessed

 

Purchase of a freehold residential property

Our fees cover all of the work required to complete the purchase of your new home, 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.

As mentioned above, the costs and disbursements are affected by a number of factors, but there follows an illustrative example of the costs and disbursements incurred in a purchase of a freehold residential property, which is already registered and comprised in a single freehold title, at a price of £500,000.

Conveyancer's fees and disbursements

  • Legal fee:  £1,500 plus VAT

  • Search fees:  Between £300 and £500 (depending upon the Local Authority)

  • HM Land Registry fee:  £135

  • Electronic money transfer fee:  £12

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.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages which you should be aware of:

  • Take your instructions and give you initial advice

  • Check finances are in place to fund purchase and contact lender's solicitors if needed

  • Receive and advise on contract documents

  • Carry out searches

  • Obtain further planning documentation if required

  • Make any necessary enquiries of seller's solicitor

  • Give you advice on all documents and information received

  • Go through conditions of mortgage offer

  • Send final contract to you for signature

  • Agree completion date (date from which you own the property)

  • Exchange contracts and notify you that this has happened

  • Arrange for all monies needed to be received from lender and you

  • Complete purchase

  • Deal with payment of Stamp Duty/Land Tax

  • Deal with application for registration at Land Registry

 

Purchase of a leasehold residential property

Our fees cover all the work required to complete the purchase of your new home, 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 is in Wales.

As mentioned above, the costs and disbursements are affected by a number of factors, but there follows an illustrative example of the costs and disbursements incurred in a purchase of a leasehold residential property, which is already registered and comprised in a single leasehold title, at a price of £250,000.  Therefore, in comparison with the example provided above, the value of the property is lower, reducing the legal fee, but as the property is leasehold, more work would be required and this increases the legal fee.

Conveyancer's fees and disbursements

  • Legal fee:  £1,500 plus VAT

  • Search fees:  Between £300 and £500 (depending upon the Local Authority)

  • HM Land Registry fee:  £135

  • Electronic money transfer fee:  £12

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 and £100.

  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £100.

  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £75 and £200.

  • Certificate of Compliance fee – This fee is to be confirmed upon receipt of the lease and management pack information. Often it is between £75 and £200.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

Stamp Duty Land Tax

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.

Stages of the process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some key stages which you should be aware of:

  • Take your instructions and give you initial advice

  • Check finances are in place to fund purchase and contact lender's solicitors if needed

  • Receive and advise on contract documents

  • Carry out searches

  • Obtain further planning documentation if required

  • Make any necessary enquiries of seller's solicitor

  • Give you advice on all documents and information received

  • Go through conditions of mortgage offer

  • Send final contract to you for signature

  • Draft Transfer

  • Advise you on joint ownership

  • Obtain pre-completion searches

  • Agree completion date (date from which you own the property)

  • Exchange contracts and notify you that this has happened

  • Arrange for all monies needed to be received from lender and you

  • Complete purchase

  • Deal with payment of Stamp Duty/Land Tax

  • Deal with application for registration at Land Registry

 

How long will my purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6 and 8 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a property with a mortgage in principle, it could take 6 to 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such a situation additional charges would apply.

Please note that in each case set out above, our fee is based on the assumption that:

  • this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction;

  • this is the assignment of an existing lease and is not the grant of a new lease;

  • the transaction is concluded in a timely manner and no unforeseen complication arise;

  • all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; and

  • no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

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