Our fees cover all of the work required to complete the sale and purchase of your home, including dealing with registration at the Land Registry and the preparation and submission of returns required by HMRC in respect of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you are looking to buy is in Wales.
Conveyancer's fees and usual disbursements
- Legal fees are based on the price being paid for the Property and whether it is a sale of purchase and whether the property is freehold or leasehold
- VAT is to be added as shown in brackets
- New Build properties: additional £250 + VAT
- Help to Buy (LISA) properties: additional £50 + VAT
- Help to Buy (ISA) properties: additional £50 + VAT
- Help to Buy (Equity) properties: additional £300 + VAT
- Shared ownership: additional £250 + VAT
- Bank transfer: additional £20 + VAT
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.
- Search fees - Purchase Only (Approximate Cost as it will depend on the property location) £350.00 plus VAT
- HM Land Registry fee – Purchase Only - Depending on the value of the property and whether it can be registered on the portal Fees range from £20.00 – £910.00 (No VAT Charged)
- Electronic money transfer fee – Sale and Purchase - £20 (plus VAT) per transfer
- 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.)
Additional Anticipated Disbursements* when purchasing a Leasehold Property
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50- £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 £50 and £300.
- Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50 – £300.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
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.
The total cost of the transaction will depend on the value of the property that you are buying or selling. If you contact one of our conveyancers on 0117 9675252 they will be able to advise you of the full cost and confirm this in writing. They will also be happy to answer any questions you may have about the conveyancing process.
* Our fee assumes 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
- if Leasehold then 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
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
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 12-16 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 4 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 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 and our set in detail on our Stages of Conveyancing web page. However, below we have suggested some key stages that you may wish to include:
- 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