Our fees cover all 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.
Conveyancer’s fees and disbursements
- Legal fee: £750-£950
- Fees for acting on behalf of the mortgage lender: £150
- Search fees: £230- £330
- HM Land Registry fee: £40- £540
- Electronic money transfer fee: £30- £60
- VAT payable: calculated at 20%
Estimated total: £1,200 plus VAT- £2,030 plus VAT
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. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
- HM Land Registry fee: £40- £540
- Search fees: £230-£330
- VAT on Search fees: £40- £66
- Electronic money transfer fee: £30-£60
- VAT: calculated at 20%
These fees vary from property to property and can on occasion be significantly more than the ranges provided below. We can give you an accurate figure once we have had sight of your specific documents.
- Notice of Transfer fee: This fee if chargeable is set out in the lease. Often the fee is between £120- £180 plus VAT.
- Notice of Charge fee (if the property is subject to a mortgage): This fee is set out in the lease. Often the fee is between £120- £180 plus VAT.
- 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 £90- £360 plus VAT.
- Certificate of Compliance fee: To be confirmed upon receipt of the lease, as the figure can range between £50- £100 plus VAT.
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 we receive this information.
Stamp Duty Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC website .
Grand Total: £1,580 plus VAT- £2,850 plus VAT. This figure does not include Stamp Duty Land Tax payable, which is calculated on a case by case basis.
How long will my house purchase take?
How long it will take from when your offer is accepted until the point you can move into your new house will depend on a number of factors. The average process takes between 4-12 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 6-12 weeks. However, if you are buying a leasehold property which requires an extension of the lease, this can take significantly longer, between 2 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 leasehold property vary according to the circumstances. But generally, the key stages involve:
- The issue of contracts and supporting documents
- Enquiries (including landlord enquiries for leasehold)
- Report on title
- Pre-completion searches