Buying a Property? Let Our Conveyancing Solicitors Guide You

Legal fees are dependent on the purchase price of the property, as shown in the table below

All prices subject to VAT

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees or search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

• Search fees are approximately: £250 (depending on the property location)
• HM Land Registry fee can be found at http://landregistry.data.gov.uk/fees-calculator.html
• Electronic money transfer fee: £35 + VAT
• Bankruptcy (per name): £2
• OS1 priority fee: £3
• ID fee: £12 + VAT per individual name or £25 + VAT for companies (and £5 + VAT for each name of the beneficial owners of that company)
• Help to Buy fee: £250 + VAT

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. 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.

In the case of leaseholds, there are certain disbursements which will be set out in the individual lease relating to the property. These additional disbursements that we anticipate will apply are set out separately further below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

In the case of leaseholds, 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 the grant of a new lease
3. the transaction is concluded in a timely manner and no unforeseen complication arise
4. all parties to the transaction are co-operative 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.

If property is leasehold, then these additional disbursements could also be anticipated

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 and £200 + VAT.
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £200 + VAT.
• Deed of Covenant fee – This fee is provided by the management company and/or the landlord for the property and can be difficult to estimate. Often it is between £100 and £250 + VAT.
• Certificate of Compliance fee – To be confirmed upon receipt of the management pack, as can range between £100 – £150+ VAT.

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. 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.

Please note that certain factors will typically increase the cost of the service. For example:

• if the legal title is defective or part of the property is unregistered
• if we discover building regulations or planning permission have not been obtained
• if crucial documents we have previously requested from you have not been provided
• if the matter is prolonged or delayed due to unforeseen circumstances

Referral fee (if any). This is not payable by you:

These fees are usually paid to estate agents who refer work to us and are between £100 – £200, except referrals from Lifetime Legal where we will let you know.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages:

• Take your instructions and send out a client care letter to you
• Check finances are in place to fund purchase and contact lender’s solicitors if needed
• Receive and advise on contract documents
• Carry out searches or take out search indemnity insurance
• Obtain further planning documentation if required
• Make any necessary enquiries of seller’s solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Send final contract to you for signature
• Obtain pre-completion searches
• Agree completion date (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 lender and you
• Complete purchase
• Deal with payment of Stamp Duty Land Tax
• Deal with application for registration at Land Registry

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. The average process takes between 6 – 10 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 10 – 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply, as detailed above.