Introductory note: The following information is an illustrative guide only and is not a quote or an estimate. Individual costs will depend on individual cases.
VAT: Where vat is chargeable the rate will be in accordance with current tax rules https://www.gov.uk/vat-rates
Sale or purchase and remortgage – freehold property
The illustrations given are for a property at the value of £350,000.
Purchase of a freehold residential property
Our fees cover the anticipated 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 the Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
Legal fees and disbursements
Legal fee from £1,000.00
VAT payable £200.00
Fee for acting on behalf of the mortgage lender £0.00 normally inclusive but charges apply when third party or bridging finance.
Search fees £300.00
HM Land Registry fee £135.00
Electronic money transfer fee £40.00
VAT payable £8.00
Estimated total £1,483.00
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty 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 the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
Estimated total £7,500.00
How long will it take from your offer being accepted until you can move into your house will depend upon a number of factors. The average process takes between 12-16 weeks.
The precise stages involved in the purchase, sale or remortgage of a residential property vary according to the circumstances.
This estimate is on the basis that the transaction does not prove to be substantially more complex or time consuming than expected.
For example, our fee assumes that:
- there is one title number only. Additional titles will be charged at our hourly rate.
- there are no unforeseen complications
- no indemnity polices are required
- the title is straightforward
- there is no element of Help to Buy in the transaction
- the property is not a new build
- no third parties are providing funding
Sale of a freehold residential property
Our fees cover the anticipated work required to complete the sale of your property
Legal fees and disbursements
Legal fee from £900.00
VAT payable £180.00
Land registry copy entries fee £6.00
Additional Land Registry documents £3.00 each.
Remortgage of a freehold residential property
Legal fee from £550.00
VAT payable £110.00
Any other disbursements including search fees, HM Land Registry fees, Electronic money transfer fee and VAT will form part of a detailed individual estimate to be sent to you within our terms of business once we have further information about the value and nature of the remortgage.