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Purchase of a Freehold Residential Property
How much does this service cost?
No property purchase is the same and so our fees will reflect the particular requirements of your purchase. The figures quoted below may vary in cases with added complexities, and therefore we cannot give you a fully reliable estimate of the cost of us helping you until we have details of the transaction. That’s why we’ll always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase. We will always advise you immediately about any complication; and would fully discuss the potential impact on price before any additional charges are incurred.
Our fees will be calculated primarily by reference to the purchase price of the property, although other factors may be taken into account. These include the complexity of the matter, whether the property is a new build, a help to buy purchase or an unregistered property.
Our fees, excluding VAT and disbursements, will range from approximately £995 for a property with a purchase price under £250,000 to approximately £3,500 for a property with a purchase price of or more than £1million. VAT will be charged at 20% on top of all fees, costs and disbursements.
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential Disbursements / Other Costs
- Preparing Stamp Duty Land Transaction Form – £60.00 +VAT
- Bank Transfer Fee (per transfer) – £35.00 +VAT
- Local / Plan plus / Water & Drainage / Environmental / Chancel Searches – Approximately £200 + VAT (depending upon individual’s or mortgage lender’s requirements)
- Land Registry Search – £3.00 +VAT
- Bankruptcy Search (per search) – £2.00 +VAT
- Stamp Duty Land Tax – Dependent on property purchase price (refer to SDLT Government calculator)
- Land Registry Application Fee – Dependent on property purchase price (refer to Land Registry fee guide)
As part of our fee we will
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitors
- 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
How long will my property purchase take?
How long it will take from your offer being accepted until you can move into your home will depend on a number of factors. The average process takes between 8-12 weeks for a purchase with no chain involved. For property purchases with a chain it is likely to take a bit longer, but how much longer is dependent upon the other parties within the chain.
