Our fees cover all the standard work required to complete the purchase of the property 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 is in Wales.
Our range of fees
|Leasehold purchase price||Our fee||VAT||Total of our fee + VAT|
|Less than £300,000||£795 – £895||£159 – £179||£954 – £1,074|
|£300,001 to £500,000||£895 – £1,095||£179 – £219||£1,074 – £1,314|
|£500,001 to £700,000||£1,095 – £1,295||£219 – £259||£1,314 – £1,554|
|£700,001 and over||From £1,295||From £259||From £1,554|
Additionally, we charge an electronic money transfer fee for payments we make to complete your purchase – £38.40 (including VAT) per payment.
Additional Anticipated Disbursements
These are payments which are additional costs that are payable to third parties.
We handle the payment of the disbursements on your behalf to ensure a smoother process.
The disbursements you may have to pay are:
- Search fees – these can range between £300 and £500 (including VAT) and will vary depending on where in the country you are buying and whether or not you are having a mortgage. We will be happy to give you an estimate. See our guide at this link
- Land Registry fees – these depend on the purchase price of the property and whether or not the property is registered. You can calculate the amount you will need to pay by using the Land Registry website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. (Scale 1)
- Stamp Duty Land Tax or Land Transaction Tax – this depends on the purchase price of the property, how many properties you own and whether you have previously owned a 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.
Further disbursements (set out below) may apply depending on the terms contained in the lease. The amount of the fees vary from property to property and can be significantly more than the ranges given below. We will be able to update you on the specific fees on receipt and review of the lease from the seller’s solicitors. However, they are likely to be:
- Notice of Transfer fee – this fee (if chargeable) is set out in the lease. The fee is likely to be between £100 and £500. It is possible that more than one fee is payable if ground rent and service charges are paid separately to different organisations.
- Notice of Charge fee – this fee is set out in the lease and is only required if you are having a mortgage over the property. The fee is usually between £100 and £500.
- Deed of Covenant fee – this fee is paid to the landlord and/or management company for the property and can be difficult to estimate. It is usually paid where there is a restriction on the seller’s title requiring specific covenants to be imposed by the management company to a new owner. Usually it is between £200 and £750.
- Certificate of Compliance fee – to be confirmed upon receipt of the lease, this is not always required but can range between £200 and £750.
You should also be aware that ground rent and/or service charges may apply throughout your ownership of the property which can change – if not fixed. We will confirm the ground rent and the anticipated service charge as soon as we receive this information from the seller’s solicitors. However, you can ask for this information to be provided by the estate agent.
The precise stages involved in the purchase of a leasehold registered residential property vary according to the circumstances. However, below are the key stages generally included in the fees quoted for standard work.
- Taking your instructions and giving you initial advice
- Checking finances are in place to fund the purchase
- Receiving and advising on contract documents
- Carrying out searches
- Requesting any planning or further documentation from the seller’s solicitor
- Receiving and checking information regarding service charges and forwarding information to you – giving you the opportunity to check them with your accountant if necessary
- Making any necessary enquiries of seller’s solicitor
- Preparing SDLT return and obtaining your signature
- Giving you advice on all documents and information received including the Lease
- Reviewing conditions of mortgage offer (if any)
- Sending final contract and documents to you for signature or seeing you in person
- Receiving deposit monies from you (if applicable)
- Drafting Transfer documentation
- Advising you on joint ownership (if applicable)
- Corresponding with seller’s solicitors regarding completion date (date from which you own the property)
DO NOT AGREE A DATE WITHOUT CONFIRMING WITH US FIRST
- Exchanging contracts and notifying you when this has happened
- Arranging for all monies needed to be received from lender (if any) and you
- Obtaining pre-completion searches
- Agreeing apportionment of ground rent and/or service charges
- Completing the purchase
- Dealing with payment of Stamp Duty Land Tax
- Dealing with application for registration at Land Registry
- Serving any Notices and/or obtaining any compliance certificates in respect of the Lease
- Providing copies of completed registration to you and the lender (if any)
- General telephone discussions with you throughout
Standard work does not include checking unregistered titles and preparing applications for first registration; buy to let purchases; new build properties; shared ownership purchases; staircasing; purchase by a company; auction repossessions; purchase from a Trustee in Bankruptcy; any additional charges, second mortgages, Islamic mortgages or charging orders; gifted deposits; Help to Buy Equity Mortgages; dealing with third party solicitors acting for a lender; applying for a Help to Buy ISA bonus; any work to extend the Lease, approve any Lease extension or grant of a new Lease; dealing with any retentions; any unforeseen matters or complexity such as, but not limited to, deeds of covenant or compliance with rent charges, listed buildings, more than one piece of land or title, compliance with restrictions on the register, resolving or suggesting ways to resolve any title defect or defects in the Lease, arranging or approving indemnity insurance policies for any defects found, additional documents ancillary to the main transaction such as, but not limited to, a declaration of trust between joint owners, and any other unusual features.
Standard work assumes all parties are co-operative and there is no unreasonable delay by third parties providing documentation.
How long will my house purchase take?
How long it will take from your offer being accepted until you can complete the purchase will depend on a number of factors. The average process takes between 10 and 20 weeks. It can be quicker or slower, depending on the parties in the chain. For example, as you are buying a leasehold property, if it requires an extension or variation of the lease, this can take significantly longer, between 2 and 6 months. In such a situation additional charges would apply.