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Residential Conveyancing - Buying

BUYING
Our fees

We would estimate our fee to be 0.25% of the purchase price subject to a minimum of £1250 plus VAT at the current rate of 20% plus disbursements. For a freehold purchase.

If you are buying a leasehold property there will be an additional charge of between £275 + VAT* and £375 + VAT*

*VAT will be charged at current rate of 20%

 We also charge for remitting funds by telegraphic transfer at £50 plus VAT* for each transfer.
 We will also charge a fee for acting for your lender from £275 plus VAT* and disbursements. These are estimated and may increase depending on your lender’s requirements.
Disbursements Disbursements are costs related to your matter that are payable to third parties, such as search fees and land registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.We would carry out various conveyancing searches and we would estimate the cost of these to be between £750 plus VAT* to £1000 plus VAT* depending on where the property is located and any additional searches that may need to be carried out.
 Bankruptcy search £2 plus VAT* name.
 Land Registry Search £3 plus VAT* per title.
 

Stamp Duty Land Tax - this is dependent on the value of the property and whether you own any other property anywhere else in the world. Please go to the following link to ascertain the rates applicable: https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

A separate regime exists for property situated in Wales. Please follow the following link for further information: https://gov.wales/funding/fiscal-reform/welsh-taxes/land-transaction-tax/?lang=en

 Land Registration fees - these are dependent on the value of the property being purchased. Please go to the following link for the current fees: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
Services included in Buying a property
  • Provide you with a dedicated and experienced fee earner to work on your matter
  • Take your initial instructions 
  • Receive and advise on contract documents
  • Carry out searches upon receiving money on account for the cost of the same
  • Make any necessary enquiries of Seller’s Conveyancer
  • Report to you on all documents and information received
  • 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
  • Advise you of the monies needed for completion
  • Complete your purchase (key collection day your new property)
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry
  • Send you your registration documents once the registration formalities have been concluded


In relation to leasehold properties, we will also:

  • Review your Lease and report to you on the terms of the Lease
  • Advise you of any additional costs required pursuant to the Lease in respect of Landlord/ Managing Agents/ Management Company involved, as appropriate
  • Advise on service charge and ground rent pursuant to the Lease.

Reviewing the replies to the management enquiries provided and making any further enquiries with the Landlord’s or their agents via the Seller’s Conveyancers in respect of the arrangements for management/ maintenance of the building in which the leasehold property is located, including communal parts.

Additional Legal ServicesThe above is based on a standard freehold/leasehold purchase. If you are buying a new build leasehold property, new build freehold property, or purchasing with the assistance of Help-to-Buy or Shared Equity or if there are any aspects of additional legal work to undertake further fees may be payable. We will advise you of any additional fees as soon as we are able.
How long will my 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 to 8 weeks to exchange contracts.

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 longer depending on the stage reached in the construction of the development.

However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 1 and 6 months. Again, this will be dependent on other variable factors of such a transaction. In such, a situation additional charges would apply. 

Leasehold Property

In addition to additional fees for acting on a leasehold purchase there would be further anticipated disbursements^ in respect of leasehold property: -

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £60 to £150 plus VAT*. 
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £60 and £150 plus VAT*. 
  • Deed of Covenant fee – This fee is provided by the management company/landlord for the property and can be difficult to estimate. Often it is between £100 and £300 plus VAT*. 
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as it can range between £150 to £300 plus VAT*.

^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 will apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

 Whilst every effort has been made to ensure the above fees are accurate, we reserve the right to raise further charges if the complexity or amount of work involved exceeds levels anticipated at the outset. Please note that the cost of disbursements is subject to any increases (which are out of our control) which may be imposed by third party suppliers, or if some of the information on which our quotation is based proves later to be incorrect. Our fees are applicable only to property situated in England and Wales.

*VAT is charged at the current rate of 20%