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Take a look at our blogs page for loads of information and useful advice on a wide variety of legal topics from writing a will through to advice when separating.
How can we help?
Please note our fees are subject to VAT, this tax is set by the UK government and is currently 20%.
Our fixed fees cover all of the work* outlined in the ‘stages of the process’ text below, these steps are what is required to complete the purchase of your new 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.
Our fixed fees are based on the price or value of the property as set out in the table below:
|Property price||FEE £||VAT £||TOTAL £|
|Up to £179,999||1050||210||1260|
|Up to £200,000||1150||230||1380|
|Up to £250,000||1200||240||1440|
|Up to £350,000||1300||260||1560|
|Up to £450,000||1400||280||1680|
|Up to £550,000||1450||290||1740|
|Up to £650,000||1500||300||1800|
|Up to £1 million||1750||350||2100|
|Over £1 million||0.25%||variable||variable|
To purchase a leasehold property for £150,000 our fees would be £1050 excluding VAT.
Purchase of a leasehold new build property
If the property you are purchasing is a leasehold new build property the following fees apply instead of those above:
|Purchase price||FEE £||VAT £||TOTAL £|
|Up to £179,999||1250||250||1500|
|Up to £200,000||1350||270||1620|
|Up to £250,000||1400||280||1680|
|Up to £350,000||1500||300||1800|
|Up to £450,000||1600||320||1920|
|Up to £550,000||1650||330||1980|
|Up to £650,000||1700||340||2040|
|Up to £1 million||1950||390||2340|
|Over £1 million||0.25%|
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease or where it is situated e.g. if the property is in Darras Hall a pack will need to be obtained from the Darras Hall Committee detailing further information about the property.
Sometimes we may pay a referral fee on your behalf. We will always inform you in writing what this fee is. A typical fee is £120.
In certain circumstances additional fees are chargeable which are outlined below:
|Item||Amount £||VAT £||Total £|
|Help to buy ISA||50||10||60|
|Government Help to Buy Scheme||250||50||300|
|Purchasing under auction conditions||200||40||240|
|Buying residential property through a business/company||250||50||300|
|Living Spaces referrals||100||20||120|
|LISA Help to Buy||150||30||180|
|SDLT admin fee||45||9||54|
|Foreign funds admin fee for investigation of source of funds outside the EU/UK||100||20||120|
Paragon Bank £1000 + VAT
ID Verification & Funds Fee of £26.00 per name on the mortgage/title of property.
To purchase a leasehold property at £150,000, the following will apply (including no extra fees as set out above or referral fees):
|Search fees (standard package)||£164||Including VAT|
|HM Land Registry fee||£100.00||This is based upon the property value or price paid and is shown at
VAT is not applicable
|Land Registry search||£3.00||VAT is not applicable|
|Bankruptcy searches||£2.00||(per buyer) VAT is not applicable|
|Stamp duty return fee||£54.00||Including VAT|
|Mortgage lender panel fee||£30.00||(not always applicable) Including VAT|
|Total||£1613||Please note this does not include Stamp Duty or additional leasehold disbursements (discussed below)|
With a leasehold property there is also likely to be specific additional disbursements which will vary from property to property and can on occasion be significantly more than the ranges given below. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
These additional disbursements can include:
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property and your personal circumstances. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
Mortgage Lending Panel
A payment of £30 inc. VAT is payable with mortgages from the following lenders:
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors, many of which are out of our control. The average process takes between 12-16 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 property with a mortgage in principle, it could take 16 weeks.
If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 8 months. In such a situation additional charges would apply, which would discussed with you.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. Our work usually includes the following:
Extra fees (not included in the above quote) may be added if any of the following apply to your case:
Property work will be undertaken by our property team displayed below, all team members are supervised by Cliff Veitch.
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