Purchase of a Freehold Residential Property
Purchase of a Freehold Residential Property Cost Information Type of Cost Cost (£) VAT if applicable (£)* Legal FeesWe anticipate it will take between 5 and 7 hours work with hourly rates between £185 – […]
Residential Conveyancing
Purchase of a Freehold Residential Property
Cost Information
| Type of Cost | Cost (£) | VAT if applicable (£)* |
|---|---|---|
| Legal Fees We anticipate it will take between 5 and 7 hours work with hourly rates between £185 – £315 per hour depending on the legal expert used | 1,250.00 – 2,975.00 | 250.00 – 595.00 |
| Disbursements Local Search Fees | Please refer to the relevant local authorities website. | |
| Water & Drainage Search Fees | Please refer to the relevant local authorities website. | |
| Environmental Search Fees | Please refer to the relevant local authorities website. | |
| Clay/Tin/Coal Mining Search | Please refer to the relevant local authorities website. | |
| Commons Registration Searches | Please refer to the relevant local authorities website. | |
| LawyerCheck Search Fee | 20.00 | 4.00 |
| Chancel Search Fees | 15.79 | N/A |
| Land Charges Searches (bankruptcy) | 2.00 per name | 0.40 per name |
| Land Charges Searches | 3.00 | 0.60 |
| Other Disbursements Electronic ID fee (per person) | 15.00 | 3.00 |
| Electronic Transfer Fee (TT) | 50.00 | 10.00 |
| HM Land Registry Fee varies depending on value of house. See following link for an estimate of cost. View here | Variable | N/A |
| Stamp Duty Land Tax 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. Please see the following link: View here | Variable | N/A |
| Lender Portal Administration Fee | 75.00 | 15.00 |
| Estimated Legal Fees Total Cost | 1,250.00 – 2,975.00 | 250.00 – 595.00 |
| Estimated Disbursements and Stamp Duty Total Cost | Varies depending on the value of the property. | |
| Estimated Overall Cost | 1,250.00 – 2,975.00 + Disbursements + Stamp Duty + VAT | 283.00 – 628.00 |
*VAT is charged at 20% on Services and Disbursements.
Service Information
| Key Stages of Process | Time Spent on Each Stage |
|---|---|
| 1. Take your instructions and give you initial advice. | 30-60 mins |
| 2. Check finances are in place to fund purchase and contact lender’s solicitors if needed. | 20-30 mins |
| 3. Receive and advise on contract documents. | 30-45 mins |
| 4. Carry out searches. | 20 mins |
| 5. Obtain further planning documentation if required. | 30-60 mins |
| 6. Make any necessary enquiries of sellers solicitors. | 30-60 mins |
| 7. Give you advise on all documents and information received. | 30-60 mins |
| 8. Go through conditions of mortgage offer with you. | 30-45 mins |
| 9. Send final contract to you for signature. | 20 mins |
| 10. Draft Transfer. | 20 mins |
| 11. Advise you on joint ownership. | 30-60 mins |
| 12. Obtain pre-completion searches. | 10 mins |
| 13. Agree completion date (date from which you own the property). | 10-60 mins |
| 14. Exchange contracts and notify you that this has happened. | 30 – 90 mins |
| 15. Arrange for all monies needed to be received from lender and you. | 30 – 60 mins |
| 16. Complete Purchase. | 20 – 60 mins |
| 17. Deal with with Stamp Duty/Land Tax. | 30 mins |
| 18. Deal with application for registration at Land Registry. | 20 mins |
| Any services not included in the price that we might reasonably be expected to pay for | Estimated Cost (£) | VAT if applicable (£)* |
|---|---|---|
| If you are acting using a Power of Attorney | 150.00 | 30.00 |
| If we need to prepare a general Power of Attorney | 150.00 | 30.00 |
| If you need a simultaneous exchange and completion | 150.00 | 30.00 |
| Approving or arranging an indemnity insurance policy (per policy) | 60.00 | 12.00 |
| Dealing with an unregistered title | 250.00 | 50.00 |
| Dealing with a second lender | 145.00 | 29.00 |
| Preparation of a simple Deed of Trust Joint Ownership form for Land Registry | 100.00 | 20.00 |
| Preparation of a short Deed of Trust for joint ownership | 425.00 | 85.00 |
| Preparation of a detailed Deed of Trust for joint ownership | 650.00 – 875.00 | 130.00 – 175.00 |
| Where funds are coming from a third party by gift or loan | 250.00 | 50.00 |
| Preparation of a Deed of Covenant | 100.00 | 20.00 |
| Transfer of Legal Aid charge or other current loan | 195.00 | 39.00 |
| Buy to Let (where an existing tenant) or the property is an HMO | 150.00 | 30.00 |
| Preparation of a statutory declaration where the title is defective | 125.00 | 25.00 |
| Negotiating for access before completion and arranging necessary undertakings | 100.00 | 20.00 |
| Preparation of a Deed of Easement | 200.00 | 40.00 |
| Where your lender has separate solicitors | 500.00 | 100.00 |
| Help to Buy | 350.00 | 70.00 |
| Help to Buy ISA | 75.00 | 15.00 |
| Dealing with retention of funds | 200.00 | 40.00 |
| Advice, negotiation and drafting of lockout agreements | Hourly rate | 20% of hourly rate |
| New build purchase | 200.00 – £350.00 | 40.00 – 70.00 |
| Shared Ownership Fee | 425.00 | 85.00 |
*VAT is charged at 20% on Services and Disbursements.
Legal Terminology and Definitions
Disbursements – Costs related to your matter that are payable to third parties, such as the council fee. We handle the payment of the disbursements on your behalf to ensure a smoother process.
