Freehold Residential Purchase Pricing
We understand that costs are important and we review our fees on a regular basis, so we can make sure we are always competitive and offer the best value for your money.
We typically work on a fixed fee basis, so that you know what the fees will be for your transaction from the outset, providing you with an individual cost estimate, so that there are no hidden surprises. If, during the transaction, there are any new developments that involve additional work on our behalf, we will discuss any change in fees with you and agree a way forward.
Freehold Residential Property Fees
Our typical legal fees for conveyancing on the purchase of a freehold property, by individuals, range from £500 to £2,000 plus VAT.
Taking into account the assumptions listed below, our legal fees cover all 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.
- That it’s a standard transaction and no unforeseen matters arise including, for example (but not limited to), a defect in title which requires remedying before completion, or the preparation of additional documents supplementary to the main transaction.
- 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 needed (there may be additional fees and disbursements if indemnity policies are required).
- We are also instructed to act for your lender to complete the registration of the mortgage on your property.
What’s Not Included:
|Additional fees||Amount Plus VAT|
|Help to Buy Scheme||£100|
|First Time Buyer Cash ISA/LISA||£50|
|Client ID Admin Fee (per person)||£5|
|Telegraphic Transfer Admin Fee (per transfer)||£40|
|Arranging Indemnity Insurance Policy (per policy)||£50|
|Securing the second charge under “Help to Buy” scheme non new build properties||£150|
|Assignment of a Solar Panel Lease and obtaining consents||£150|
|Acting for a lender on a Bridging Loan||£200|
|Deed of Appointment of a New Trustee||£150|
|Arranging a Title Defect or Indemnity Insurance Policy||£50|
|Deed of Covenant (drafting, engrossing and registering deed)||£100|
|Flying Freehold Deed of Mutual Covenant||£150|
|Removal of registered Caution (each time)||£95|
|Transfer or Discharge of Legal Aid Charge or other current loan||£190|
|Transfer or Discharge of Business Loan Facility / Overdraft||£190|
|Drafting additional Contract packages for sale contract race each||£175|
|Statutory Declaration, for Title rectification or other reasons||£150|
|Voluntary First Registration for a sale property||£150|
|Service of Notices of Assignment or reassignment to Life Co||£20|
|Additional electronic money transfer within the UK||£30|
|Electronic money transfer outside the UK||£60|
|Cheque returned unpaid/stopped at customer request||£35|
|Dealing with Third Party Lawyers (eg. Matrimonial dispute)||£200|
|Fee for handling a contract race on a sale||£125|
|Legal fee for acting for a lender on a purchase by a Company||£300|
|Key undertaking for access between exchange and completion||£50|
|Serving Notices of Transfer and Charge to additional parties||£35 each|
|Transfer of Share Certificate in the Management Company||£50|
|Evidence of charge of ownership / discharge of loan, upon sale completion||£30|
|Secure storage of documents + copy updated HMLR Register – purchase||£30|
|File retrieval after Completion from Archive Storage||£55|
|Data Protection Act 1998 – access to personal records||£10|
|Administering service charge retentions||£100|
|Rectifying Title Defects||£150|
|Sale and Leaseback||£100|
|Working with a third party solicitor team in respect of a family or probate matter||£50|
|Update to External Portals||£35|
|Administering Gifted Deposit||£100|
|Help to Buy ISA Fee||£50|
|Applying Unilateral Notice Fee||£50|
What Might Affect our Fees
Factors that may lead to an increase in our fees include:
If a legal title is defective or part of the property is unregistered
If you discover building regulations or planning permission has not been obtained
If crucial documents, we have previously requested from you have not been provided to us
If you need us to expedite the transaction and exchange contracts and complete within four weeks of instructing us.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We hand the payment of the disbursements on your behalf to ensure a smoother process.
Property (includes local authority, drainage and environmental searches): approximately £200 plus vat, Mining Search – extra. Additional searches may be required and will be advised on an individual basis.
Land Registry Fee
This will depend on the purchase price of your property. You can calculate the amount you will need to pay by using Land Registry website.
Stamp Duty Land Tax
This will depend on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
This list is not exhaustive and other disbursements may apply, depending on the particular circumstances of your transaction. We will tell you about any additional disbursements if they arise, and agree these with you in advance.
We work with local and national estate agents and introducers throughout England and Wales. On some transactions we pay referral fees to these introducers from our marketing budget so that any referral fee is not additional cost to you. The average fee paid is between £95 and £300
What We Do – The Key Stages
- Carry out Identification and Money Laundering checks:
- Obtain full details of the transaction from you and any estate agent/introducer;
- Obtain contract documentation and report in detail on all relevant aspects;
- Make all relevant enquiries on the title to the property;
- Make all relevant searches against the property and report to you;
- Review any mortgage offer applicable to your purchase and report to you;
- Liaise with all parties with regard to exchange of contracts, negotiate the deposit payable and the completion date;
- Obtain your signature to the contract and effect exchange of contracts;
- Prepare Transfer Deed and obtain your signature to it;
- Prepare Mortgage Deed, if applicable, and obtain your signature to it;
- Raise any enquiries on the title with your seller’s solicitors and obtain relevant undertakings to discharge outstanding liabilities;
- Carry out Land Charges and HM Land Registry searches and report to you on any adverse results;
- Liaise with your Lender, if applicable and draw down loan in readiness for completion;
- Prepare financial statement showing monies required from you;
- Supervise completion arrangements, release of keys, transfer of funds;
- Attend to payment of any Stamp Duty Land Tax together with preparation of Returns to HMRC;
- Attend to registration of your title at HM Land Registry and forward copy documentation to you and, where applicable, your Lender.
- We will update you regularly with progress on your matter.
What We Don’t Do
Advise on tax as this is a specialist area;
Advise on insolvency matters;
Advise on any other matter without first agreeing the fee with you
How long will your purchase take to complete?
How long it will take from the date your offer is accepted by the Seller, until you get the keys to your new home will depend on a number of factors. In our experience, the average process takes between one and three months to reach completion.
It can be quicker or slower depending on the parties in the chain.
Other factors which may affect the timescale include:
- How quickly you provide us with any information we have requested from you
- The speed of the responses we receive from other parties involved in the transaction or conveyancing chain
- Any unforeseen circumstances
- Buying a newbuild property, where the timescale will depend on how long it takes for the builder to complete construction.
We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.
It’s good to talk…
We know that trying to work out the exact cost of moving house isn’t easy – everyone’s circumstances are different. That’s why we have a dedicated enquiries team who specialise in providing all-inclusive fixed conveyancing quotes. They can explain all the charges, in clear, plain language over the phone, so there are no surprises down the line and confirm by email, usually in a matter of minutes.
Tel: 01491 411 884
The small print…
We have to observe certain niceties. For your information, Lawrence Hamblin is the trading name of WLS Solicitors Limited, we are authorised and regulated by the Solicitors Regulation Authority Number ( 632269- Malvern and 816732 – Henley ). Our registered office is 215 Worcester Road, Malvern, WR14 1SP. A list of directors is available from any office, and finally, we do not accept service by email. If we contacted online, and fall into dispute, you can use the EU Online Dispute Resolution Platform. Our email address is email@example.com