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Purchase of Freehold Residential Property
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.
Conveyancer's fees and disbursements
Legal fee £750
Search fees £300
HM Land Registry fee £40 (varies)
Electronic money transfer fee £30
VAT payable £224
Estimated total: £1,344
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.
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.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. Below we have suggested some key stages of the service we offer:
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
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry
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 4-8 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. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation additional charges would apply.