Buying a Freehold Residential Property

Our fees cover all of the work required to complete the purchase of your new freehold 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.

All the information below is based on the assumed purchase price: £200,175

 

Conveyancer’s fees and disbursements

  • Legal fees are usually between £550 - £1500 | Average £800
  • Electronic money transfer fee: £0.00
  • VAT payable fee ranges between £110 - £300 | Average £160

Estimated total: £960

 

Referral fee (if any)

  • Amount of referral fee paid: Where we pay a referral fee, it is no more than £100 and we will disclose this at the time of taking your instructions.
  • The recipient of the referral fee will only ever be your estate agent

 

Disbursements

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.

  • HM Land Registry fee: £20-£135 | Average £95
  • Search fees: £178-£350 | Average £250
  • VAT on search fees: £50

Estimated Sub Total: £395

 

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. You can calculate the amount you need pay by using HMRC’s website or, if the property is located in Wales, by using the by using the Welsh Revenue Authority’s website.

Estimated total: £2194

 

How long will my house purchase take?

How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 6–12 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 6-18 weeks.

 Stages of the process

To understand more about the journey, please watch the video below. Alternatively, the process is set out, step by step further below.


 

The key stages of the process include:

  • Take your instructions and give you initial advice;
  • Send you our letter of engagement and confirmation of instructions;
  • 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 documents if required;
  • Make any necessary enquiries of seller’s solicitors;
  • Check enquiries have been answered satisfactorily
  • Give you advice on all documents and information received;
  • Check mortgage offer if required
  • Go through conditions of mortgage offer with you;
  • Send final contract to you for signature;
  • Prepare Transfer Deed
  • Send final Transfer Deed to you for signature;
  • Prepare Stamp Duty Land Tax Return;
  • Send Stamp Duty Land Tax return to you for signature;
  • Agree completion date (date from which you own the property);
  • Prepare completion statement and obtain deposit monies from you;
  • Exchange contracts and notify you that this has happened;
  • Arrange for all monies needed to be received from lender and you;
  • Complete purchase;Deal with payment of Stamp Duty Land Tax;
  • Deal with application for registration at Land Registry;
  • Notify you once registration has been completed and supply you with updated register

 

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