Our fees cover all of the work required to complete the purchase of your new property, 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 legal fees:
Below is a range of the fees that we may typically charge for a freehold purchase (all charges include VAT at 20%):
- Legal fees: between £1,000 and £1,750* (depending upon the value/location of the property and the complexity of the case)
- Search fees: between £200 and £350 (depending upon the searches required)
- Electronic money transfer fee: £36
- Estimated subtotal: between £1,236 and £2,136
*Our fees above assume that:
- it 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
- no indemnity policies are required (additional disbursements may apply if indemnity policies are required)
These 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.
You will have to pay:
- Stamp Duty in England or Land Tax in Wales
- You can calculate how much Stamp Duty or Land Tax that you need to pay by visiting the websites below:
English Stamp Duty:
Welsh Land Tax:
Land Registry Fees:
- You will have to pay a fee to the Land Registry to register the property in your name. The amount you pay to the Land Registry will depend upon the value of the property. You can calculate the fee using the link below:
Example of Fees:
Below is a specific example of a purchase quotation, where the buyer is a First Time Buyer, who is eligible for Stamp Duty Relief, buying a freehold property for £200,000 with a mortgage, using our usual search pack and dealing with our Coventry office (all calculations include applicable VAT at 20%):
|Freehold Purchase at:
|Telegraphic Transfer Fee
|Land Registry Fee
The above is a specific example, quotes will vary between our offices.
- the legal fees for properties worth in excess of £1m are to be determined on a case by case basis and you will need to call our offices for a quotation
- we will always supply you with a quotation and agree a fee with you before commencing work
- if additional fees are to be charged details will be provided if and when they arise and we will agree any additional legal fees with you first
How long will my freehold house purchase take?
How long it will take from your offer being accepted until you can collect the keys for your property will depend on a number of factors. The average process takes up to 16 weeks.
It can be quicker or slower, depending on current market conditions and the parties in the chain. For example, if you are a first time buyer, purchasing a vacant property with a mortgage in principle, it could take approximately 12 weeks.
Stages of the Process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are the key stages:
- Take your instructions and give you initial advice
- Check finances are in place to fund your 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 the seller’s solicitor
- Give you advice on all documents and information received
- Go through the conditions of your mortgage offer with you
- Send the final contract to you for signature
- Agree a completion date (the 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 you and your lender
- Complete your purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at the Land Registry