Property Purchase – Our Fees
Our Fees cover all of the work required to complete the sale or purchase of your home, including dealing with registration at the Land Registry and the payment of Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales but excluding Disbursements.
Our Fee assumes that:
- This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in the title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction. Supplemental fees will be charged when the transaction is not standard or when it is a leasehold property.
- If leasehold, that it is the transfer of an existing lease and is not the grant of a new lease.
- 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.
Price is what you pay, value is what you get
We may charge additional fees/supplements for more complex transactions or where additional work is required such as (but not limited to):
- Deed of covenant under lease
- Deed of variation or rectification of lease
- Lease extension
- Deed of trust
- Deed of easement
- Advice on company issues
- Advice on planning issues
- Arranging and advising on indemnity insurance
- Dealing with late completion
- Administering leasehold retentions
- Preparation of statutory declaration
We will let you know in advance what our additional fees will be for this additional work. The range of hourly fees for this extra work is £110 to £250 (plus VAT) depending upon the complexity of the task and the experience of the person dealing with your transaction.
Please note, all Fees outlined in the below table are subject to VAT.
|Transaction value||LA fees
|Under £250,000||£950 – £1,100
|£250,001 – £500,000
|£1,150 – £1,300|
|£500,001 – £1,000,000
|£1,400 – £1,600|
|£1,000,001 – £3,000,000
|£2,200 – £4,400|
|Over £3,000,001||Fees on application|
* Most flats are leasehold but they may come with a share of the freehold
- If the property in Leasehold ADD £150 (plus VAT)
- Unregistered title ADD £200 (plus VAT)
- New build ADD £300 (plus VAT)
- Purchase with tenant in situ ADD £100 (plus VAT)
- New mortgage ADD £100 (plus VAT)
- Help to Buy ISA ADD £50 (plus VAT)
- Help to Buy mortgage ADD £250 (plus VAT)
- Armed Forces Loan ADD £150 (plus VAT)
- Shared ownership arrangements ADD £250 (plus VAT)
- Where lender is separately represented ADD £100 (plus VAT)
- TT administration handling fee ADD £24.50 (per bank transfer – plus VAT)
- Search pack – local search, drainage search, environmental search and plans search (variable) £300 – £400 plus VAT
- Bank TT fee required to send purchase monies on the same day to the sellers’ solicitors and/or any balance to yourselves in excess of £250,000.00 £5.50 plus VAT (per bank transfer)
- Land Registry registration fees (variable) based on property value £40 – £910 (follow link in ‘Related pages’ at top of this page)
- Chancel repair indemnity policy £11.20 (inc VAT)
- Online ID check £4.80 (inc VAT)
- Stamp Duty Land Tax (variable) (follow link in ‘Related pages’ at top of this page)
- Land Registry official search (OS1/OS2) £3.00 (plus VAT)
- Land Registry bankruptcy search (K16) £2.00 per name (plus VAT)
*Most purchase disbursements are mandatory
Additional Purchase Disbursements if Leasehold
- Landlords notice fee, deed of covenant fee and share transfer fee (variable) £50 – £150 (plus VAT) per item
To establish what the likely total cost will be you should add together:
Fees + Supplements + VAT + Disbursements = Total Cost
Our abortive costs are based on the amount of time spent on the file calculated at the individual fee earner’s hourly charge out rate. This will vary according to the experience and status of the fee earner concerned. Any Disbursements which have been incurred will also be charged if the matter goes abortive.
In some circumstances, other professionals such as estate agents and mortgage brokers will refer clients to us. We may pay them a referral fee for doing so. This fee is included within our fees quoted to you and at no additional cost to you. If we do pay such a referral fee we will notify you of this in our engagement letter.
Stages of the purchase process
The precise stages involved in the purchase process of a residential property vary according to the circumstances. However, our ten steps guides set out the key stages. You can download this document at the top of this page from the ‘Useful documents’ section.