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.

Our fees and disbursements

  • Legal fee £1,000
  • Search fees £160.00 (approx.)
  • HM Land Registry fee £135.00
  • Electronic money transfer fee £35.00
  • VAT payable £239.00

Estimated total: £1569.00
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 the HMRC website or if the property is located in Wales by using the Welsh Revenue Authority’s website. If this is your only property, and it is in England, at a purchase price of £200000 the Stamp Duty will be £1500.

How long will my house purchase take?

How long will my house 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 10 – 12 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 new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such, a situation additional charges would apply.

Stages of the process

Our fees include the following instructions:

  • 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 with you
  • 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

Residential Sale Pricing

No property is the same as another, so our fees will reflect the specific requirements of your sale. We are unable to give you an exact estimate of the cost of our fees until we have details of your intended transaction and your property.
Our fees are based on the value, location and complexity of the property being sold, therefore, our fees will vary. For a sale in the range of £250 – £1,000,000, our fees will range from £750 – £5000 plus VAT.

Our fees include the following instructions:

  • Appropriate legal advice
  • Taking full instructions
  • Straightforward Money Laundering ID checking
  • Receiving your title deeds
  • Seeking confirmation of title from the Land Registry
  • Preparing the contract for sale
  • Procuring completion of appropriate protocol documentation namely the Property Information Form, Supplemental Enquiry forms and Fixtures, Fittings and Contents Form
  • Forwarding the contract to your buyer’s conveyancer
  • Dealing with reasonable enquiries from your buyer’s conveyancer
  • Agreeing the transfer documentation
  • Applying for one redemption figure from a mortgage lender
  • One attendance on you, or appropriate letter depending on geographic distance, to have documentation signed
  • Dealing with exchange of contracts and setting a completion date
  • Dealing with completion formalities and repaying one mortgage
  • Keeping you and your estate agent reasonably informed of progress
  • Accounting to you.

Exclusions

  • Specialist tax advice, third party costs including Land Registry and other fees for copy documents
  • Bank transfer costs
  • Defective title indemnity insurance premiums

Additional fees

There may be circumstances where the fees may change (the list below is not exhaustive).

  • Redemption of a Help to Buy loan
  • Arranging bespoke indemnity insurance
  • Shared ownership properties
  • Where the legal title is defective
  • If are issues with building regulations or planning permission

Stages of the process

The stages involved in the purchase of a residential property vary, however we will usually:

  • Take your initial instructions and give you advice
  • Receive and advise on your contract documents
  • Obtain further planning documentation
  • Deal with enquiries raised by the buyer’s solicitors
  • Give you advice on all documents and information
  • Send the final contract to you for signature
  • Agree completion date
  • Exchange contracts
  • Complete sale

Our conveyancing/ property team/individual details Gabriel Enuezie – Managing Partner

Gabriel is the head of the conveyancing/ property team. Gabriel qualified as a Solicitor in 2007 and has gained over 11 years’ experience in dealing with conveyancing/ property cases.