Our fees cover all the legal work* required to complete the purchase of your new home, including dealing with registration at the Land Registry and the payment of Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
Legal fee for purchases under £1m – £1,250.
Over £1m – POA.
Disbursements are costs related to your matter that are payable to third parties, such as the Land Registry and search companies. We handle the payment of the disbursements on your behalf to ensure a smoother process. When purchasing a property, disbursements are usually limited to –
- Search fees – cost around £400 – they do vary from Local Authority to Local Authority. VAT is payable on searches.
- HM Land Registry fees, for which there is no VAT, are determined by the Land Registry and can be found at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
- 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
*The estimated total for a purchase is the sum-total of our legal fees and the Disbursements plus VAT.
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 several factors. The average process takes between 8-12 weeks.
It can be quicker or slower, depending on the number of 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 2 and 3 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are the key stages that are usually included: –
- Once instructed we will confirm our instructions by letter setting out the terms of business and fee costs;
- 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 will own the property);
- Exchange contracts and notify you that this has happened;
- Arrange for all monies needed to be received from the lender and you;
- Complete purchase;
- Deal with payment of SDLT / Land Tax;
- Deal with application for registration at Land Registry.
*Where a member of our experienced conveyancing team foresees a complexity with your purchase, they will discuss this with you and how this will impact your matter and how it could increase the fees.