Residential property costs
Our fee structure for residential property matters is based on the time in our experience it takes to deal with the matter. The exact cost of an individual matter will depend on the individual aspects of that particular property
We believe in giving a personal service to our clients. Your matter will be dealt with by one of our experienced lawyers.
The charge out rates of our lawyers are set out in our Terms and Conditions.
During a transaction we have to pay various amounts on your behalf to third parties including search fees, Land Registry fees and Stamp Duty Land Tax (SDLT). The cost of many of these disbursements vary depending on the price of the property. The examples below indicate costs and disbursements for a range of transactions.
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 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.
Calculating 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.
Calculating legal fees
* 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 title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- if leasehold it is the assignment 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.
- that it is not a new build property
- that the title is already registered at the Land Registry
- that you are not taking out a mortgage
- the property is not a listed building
- there is no solar panel lease affecting the property
- no retention is needed on completion
- no deposit is being gifted in a purchase with a mortgage
- There is no less than 14 days between exchange and completion
- in purchase cases, whether it is to be your primary residence and not buy to let or second/holiday home
- that there are not multiple owners other than a married couple
- it is not a shared ownership scheme
- that you are not using a help to buy scheme
- you are not purchasing at auction
- the property has not been repossessed
NB: This list is not intended to be exhaustive
Every transaction is different and for this reason we would invite you to ring us to discuss your specific transaction so that we can give you a detailed estimate specific to your circumstances
We set out the following examples which were correct at 1 June 2023.
Please note that external fees such as search fees may vary depending upon the property location.
PURCHASE ESTIMATE A
|
Freehold Purchase Price £450,000 |
Cost |
| Our Legal Fees | £ 1,750.00 |
| VAT on our Legal Fees (payable at the applicable rate – currently 20%) | £ 350.00 |
| Total Legal Fees | £2,100.00 |
| Other Costs | |
| Stamp Duty Land Tax – assuming standard rate is payable | £ 10,000.00 |
| Search Fees (approximately & including VAT) | £ 400.00 |
| CHAPS Transfer Fees (to send cleared funds to the Sellers’ Solicitors on completion (including VAT)) | £ 48.00 |
| Land Registry Fees | £ 150.00 |
PURCHASE ESTIMATE B
|
Leasehold Purchase Price £250,000.00 |
Cost |
| Our Legal Fees | £ 1,750.00 |
| VAT on our Legal Fees (payable at the applicable rate – currently 20%) | £ 350.00 |
| Total Legal Fees | £2,100.00 |
| Other Costs | |
| Stamp Duty Land Tax – assuming standard rate | £0.00 |
| Search Fees (approximately) | £ 400.00 |
| CHAPS Transfer Fees (to send cleared funds to the Sellers’ Solicitors on completion (including VAT)) | £ 48.00 |
| Land Registry Fees | £ 150.00 |
SALE ESTIMATE A
|
Freehold Sale Price £325,000.00 |
Cost |
| Our Legal Fees | £ 1,500.00 |
| VAT on our Legal Fees (payable at the applicable rate – currently 20%) | £ 300.00 |
| Total Legal Fees | £1,800.00 |
| Other Costs | |
| CHAPS Transfer Fees (to repay your mortgage (including VAT)) | £ 48.00 |
| Land Registry Fees (official copies etc (including VAT)) | £30.00 |
SALE ESTIMATE B
|
Leashold Sale Price £200,000.00 |
Cost |
| Our Legal Fees | £ 1,500.00 |
| VAT on our Legal Fees (payable at the applicable rate – currently 20%) | £ 300.00 |
| Total Legal Fees | £1,800.00 |
| Other Costs | |
| CHAPS Transfer Fees (to repay your mortgage (including VAT)) | £ 48.00 |
| Land Registry Fees (official copies etc (including VAT)) | £ 30.00 |
| Management pack required from the landlords/managing agents (estimated £300) | £300.00 |
REMORTGAGE ESTIMATE
|
Freehold Mortgage amount £300,000.00 |
Cost |
| Our Legal Fees | £ 850.00 |
| VAT on our Legal Fees (payable at the applicable rate – currently 20%) | £ 170.00 |
| Total Legal Fees | £1,020.00 |
| Other Costs | |
| Search Fees (if required by mortgage lender) (approximately and including VAT) | £400.00 |
| CHAPS Transfer Fees (to repay your mortgage (including VAT)) | £ 48.00 |
| Land Registry Fees (registration, official copies etc, up to) | £ 70.00 |