PURCHASE CONVEYANCING FEES
| HOUSES: | |||
|---|---|---|---|
| PRICE | Fees | VAT | Total |
| Up to £250,000 | £550.00 | £110.00 | £660.00 |
| £250,001 - £500,000 | £600.00 | £120.00 | £720.00 |
| £500,001 - £750,000 | £750.00 | £150.00 | £900.00 |
| £750,001 – £1,000,000 | (Average price £1500 plus VAT @ 20% £300 total £1800) | ||
| FLATS: | |||
|---|---|---|---|
| PRICE | Fees | VAT | Total |
| Up to £250,000 | £650.00 | £130.00 | £780.00 |
| £250,001 - £500,000 | £750.00 | £150.00 | £900.00 |
| £500,001 - £750,000 | £900.00 | £180.00 | £1080.00 |
| £750,001 – £1,000,000 | (Average price £1700 plus VAT@ 20% £340 total £2040) | ||
| ADDITIONAL LEGAL FEES | |||
|---|---|---|---|
| Mortgage Explanation (if applicable) | £60.00 (inc vat 20%) | ||
| Stamp Duty admin fee | £60.00 (inc vat 20%) | ||
| Leasehold Supplement fee (if applicable) | £60.00 (inc vat 20%) | ||
| DISBURSEMENTS | |||
|---|---|---|---|
| Standard Search pack | £130.71 Plus VAT at 20% = £23.50 £154.21 | ||
| Anti-Money Laundering checks (pp) | £6.00 Plus VAt 20% £1.20 = £7.20 | ||
| OS1 search fee | £3.00 Non VAtable | ||
| Bankruptcy search fee (£2.00 per person) | £2.00 Non VATable | ||
| Telegraphic Transfer fee | £25.00 Plus VAt at 20% £5.00 = £30.00 | ||
| Scale 1 Land Registry portal fees: Non VATable | |||
|---|---|---|---|
| £0 - £80,000 | £20.00 | ||
| £80,001 - £100,000 | £40.00 | ||
| £100,001 - £200,000 | £95.00 | ||
| £200,001 - £500,000 | £135.00 | ||
| £500,001 - £1,000,000 | £270.00 | ||
Stamp Duty/Land Tax/Land Transaction Tax
This depends on the purchase price of your property and your circumstances. You can calculate the amount you will need to pay by using HMRC’s website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority’s website.https://lttcalculator.wra.gov.wales/
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 payment of (Stamp Duty) if the property is in England or Land Transaction Tax (Land Tax) if the property is in Wales.
Our fee assumes that:
1. This 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. This is the assignment of an existing lease and is not a grant of a new lease
3. The transaction is concluded in a timely manner and no unforeseen complications arise
4. All parties to the transaction are cooperative and there is no unreasonable delay from third parties providing documentation
5. No Indemnity Policies are required. Additional disbursements may apply if Indemnity Policies are required
6. You do not require language assistance (for example, legal service in Spanish, Polish)
How long will my house purchase take?
The average process takes between 8 – 10 weeks. However it can be quicker or slower. For example if you are a first time buyer with a mortgage already in place, purchasing an empty property it is likely to be quicker. If you are a first time purchaser buying involved in a lengthy chain of transactions it could take significantly longer.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances, however we have listed what we consider to be the key stages below:-
• Take your instructions and give you initial advice
• Send out our client care pack to you
• Confirm you have the finances in place to fund the purchase
• Receive and advise on contract documents
• Carry out searches • Raise enquiries with seller’s solicitor
• Request any missing documentation, for example planning permissions/building regulation approval for extensions
• Review any management pack should the property be a flat or subject to a service charge payment
• Make enquiries of a landlord should the property be Leasehold and Ground Rent payable
• Report to you on all documents and advise on marketability of Title
• Going through the conditions of your mortgage offer and report to you
• Obtain your signature to the Contract
• Draft a Transfer Deed
• Give advice on joint ownership (on holding property as Joint Tenants or Tenants in Common)
• Agree a completion date • Obtain your deposit funds
• Exchange contracts and confirm to you this has been done
• Submit HM Land Registry and Bankruptcy searches
• Prepare an invoice and Completion Statement
• Apply for mortgage monies and arrange to receive any balance funds from yourself
• Complete the purchase and report to you completion has taken place
• If applicable, deal with payment of Stamp Duty/Land Tax
• Complete registration of your Title at HM Land Registry and any mortgage
Your conveyancing will be carried out by our Miss Burgundy-Davis a solicitor with 15 years PQE ( Post qualifying experience ).
Her supervisor is Miss Margaret Banks, solicitor and Principal of the firm with 40 years PQE.
Please click below to see our complaints process:
SRA no. 00428574.
07723 70 71 72 (24 hour emergency number)