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Coventry Head Office: 0800 158 5592
Leamington Office: 01926 827804

Purchase costs of a freehold residential property explained

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 and disbursements

Below is a range of the fees and disbursements that we may typically charge for a freehold purchase:

  • Legal fees: between £550 and £1,500* plus VAT (depending upon the value of the property, the complexity of the case and the office used)
  • Search fees: between £200 and £350 inclusive of VAT (depending upon the searches required)
  • Electronic money transfer fee: £30 plus VAT
  • VAT payable: between £116 and £306
  • Estimated subtotal: between £896 and £2,186

Disbursements

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:
  • http://landregistry.data.gov.uk/fees-calculator.html

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:

Freehold Purchase at:

£200,000.00

Telegraphic Transfer Fee PLUS VAT

£30.00

Legal Fee plus VAT

£675.00

Land Registry Fee

£95.00

Stamp Duty

£0.00

Search FeeS including VAT

£250.00

Total

£1,050.00

Plus VAT of

£141.00

Total including VAT

£1,191.00

*Our fees above assume that:

  1. 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
  2. the transaction is concluded in a timely manner and no unforeseen complications arise
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  4. no indemnity policies are required (additional disbursements may apply if indemnity policies are required)
  • 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 between 6 and 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 vacant property with a mortgage in principle, it could take 4 to 8 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

Conveyancing Charges and Costs

For details of our charging structure in relation to various types of transaction, please click on the links below.

Purchase of a freehold registered residential property - Click here

Purchase of a leasehold registered residential property - Click here

Sale of a freehold registered residential property - Click here

Sale of a leasehold registered residential property - Click here

Re-mortgage of a freehold registered residential property - Click here

Re-mortgage of a leasehold registered residential property - Click here

Our property conveyancing team - Click here

Please call our offices for a Conveyancing quote on 0800 158 5592