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.
|Property value of up to £450,000||Property value of up to £1M||Property value of £1M-£2M||Property value of £2M+|
|Fixed Legal fee for standard property purchase*||£1,850||£2,150||£2,500||0.15% of property value|
|VAT||£370||£430||£500||20% of fee|
|Total legal fee including VAT||£2,220||£2,580||£3,000||Depending on property value|
|Search fees (including VAT)||£360-£600||£360-£600||£360-£600||£360-£600|
|Electronic money transfer fee|
|£12 per transfer||£12 per transfer||£12 per transfer||£12 per transfer|
|Land registration fee****||20-£135|
Depending on value of property
Depending on value of property
|Total anticipated disbursement costs (based on 1 x transfer)||£392-£747||£507-£942||£827-£1,067||£827-£1,067|
* No property is exactly the same and our fees will reflect the particular requirements of your purchase. For example, if there is an issue with the title, because of the added complexities, this may cost more. We will always give you an individual cost estimate at the start, taking into account the actual features of your purchase.
The fee outlined above 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.
- the transaction is concluded in a timely manner and no unforeseen complications arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
The fee does not include:
- exclusivity agreements
- an expedited transaction
- advice on Stamp Duty
- Deed of Variation
- Indemnity policies. Additional disbursements may apply if indemnity policies are required.
- Complex planning issues
We can assist with any of the above if required, and we will provide a fee quote before we proceed. If there are any unexpected complications during the purchase of the property, we will always inform you and discuss any potential consequences and impact on price before additional fees are incurred.
**Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. Search fees can vary due to the location of the property.
The amount of Stamp Duty or Land Tax due will depend 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.
**** For more information on Land registration fees visit here.
How long it will take from your offer being accepted until you can move in to your home will depend on a number of factors. The average process takes between 4 to 6 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are purchasing a probate property, there is potential for the process to take longer if the Grant of Probate hasn’t been issued.
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have listed the key stages that we would typically expect in a standard property purchase.
- 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
- Report to you on all of the documentation
- 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 submission and payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Our real estate team has experience in delivering high quality work in all matters relating to conveyancing. The team has particular expertise in the sale, purchase or refinance of freehold and leasehold property, including complex transactions, for high net worth UK and overseas clients, owner occupiers, investors, clients with investment portfolios, as well as secured lending for UK and overseas lenders.
Any of the team below may work on your matter:
- Rupert Melville-Ross, Partner
- Andrew Williamson, Partner
- James Slinger, Partner
- Nessa Barry, Senior Associate
- Louise Moore, Associate
- Thomas Andrews, Associate
- Zoe Johnston, Associate
- Mary Sargent, Associate
- Joshua Butt, Paralegal
- Zhuoyi Wang, Paralegal
Regardless of who works on your matter, they will be supervised by Nessa Barry, Senior Associate.
Click here to view the profiles of our Real Estate team.