Our fees cover all of the work* required to complete the purchase of your new home, including registration of the property 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.
|Property Value||Approximate Legal Fees (exclusive of VAT)|
|£750,000-£2,500,000||Between £2,250 and £3,500|
|£2,500,000 plus||Minimum 0.15% of purchase price|
*These fees vary from property to property and can on occasion be significantly more than the ranges given above depending on the complexity of the transaction. We can give you a more accurate figure once we have sight of your detailed particulars of the matter.
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. Typical disbursements are as follows:
We process local authority, environmental, planning, drainage & water and chancel searches for all property purchases. The fees vary for these depending on location but the total is often in the region of £300-500 inclusive of VAT.
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.
HM Land Registry Fee
The HM Land Registry fee is based upon the value of the property. Further information can be found here on the Land Registry’s Fees List.
Electronic Money Transfer Fee
When the purchase monies are remitted to the seller’s solicitor, it is sent via a same day transfer service to the seller’s solicitor’s bank. For this service, the fee chargeable is £17 + 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 a number of factors. The average process takes between 6-8 weeks.
It can be quicker or slower, depending on the parties in the chain. As well as any complications that may arise.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the following are key steps that are likely to occur:
- 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
Factors which may increase cost:
Should you require an expedited exchange of contracts within 15 working days there would be an additional fee of £300.00 plus VAT to reflect the extra work involved in order to try and achieve this. If your matter requires a large amount of email or telephone correspondence we may also be required to increase our fees.
The following will also attract additional fees and estimate of which is given below:
- Rent Deposit Deed – £200 plus VAT.
- Licence to Assign – £200 plus VAT.
- Exclusivity Agreement – £500 plus VAT.
- Deed of Covenant – £150 plus VAT.
- Declaration of Trust – £350 plus VAT.
- Provision of hard copy Report on Title – £45 plus VAT.
- Deed of Variation £300 plus VAT.
The individuals who may carry out this work include:
|Name:||Position:||Hourly Rate excluding VAT (£):||Date qualified as a solicitor or other status:|
|Tom Marshall||Member Partner||£355||15/11/06|
|David Williams||Senior Solicitor and Head of Residential Property||£325||18/04/95|
|Ezgi Almali||Trainee Solicitor||£165||Trainee Solicitor|
References to “VAT” is to Value Added Tax at the standard rate which is currently 20%. Disbursements may also be subject to VAT.
For further information on any member of our team please visit our Team page.