Conveyancing – Purchase Fees

Purchase of a residential property

Our fees cover 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 Land Transaction Tax (Land Tax) if the property is in Wales or Stamp Duty Land Tax (Stamp Duty), if you wish to buy in England.

Conveyancer’s fees and disbursements

  • Our Legal fees are as follows:
Property Value Fees
£0 – £100,000 £520 + VAT at 20%
£100,000 – £150,000 £570 + VAT at 20%
£150,000 – £200,000 £595 + VAT at 20%
£200,000 – £250,000 £620 + VAT at 20%
£250,000 – £300,000 £670 + VAT at 20%
£300,000 – £350,000 £720 + VAT at 20%
£350,000 – £400,000 £770 + VAT at 20%
£400,000 plus £870 + VAT at 20%

 

Further supplements:

Supplement Fees
Help to Buy £130 + VAT at 20%
Help to Buy ISA £90 + VAT at 20%
Leasehold £300 + VAT at 20%
New Build £175 + VAT at 20%
Shared Ownership £50 + VAT at 20%
Unregistered Title £100 + VAT at 20%

 

Referral fee (if any)

  • Amount of referral fee paid £200
  • Tate Rowland Estate Agents

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. Disbursements include the following:

  • Land Registry Office Copies £3 per document
  • Bankruptcy Search £2 per name
  • Official Search with Priority £2 per name

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

We handle the payment of the disbursements on your behalf to ensure a smoother process.

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 https://www.gov.uk/stamp-duty-land-tax  or if the property is located in Wales by using the Welsh Revenue Authority’s website here. https://gov.wales/funding/fiscal-reform/welsh-taxes/land-transaction-tax/?lang=en

EXAMPLE:

Mr & Mrs Jones are purchasing a new build house in Flintshire for £190,000:

Our fees, including VAT £714,

Plus New Build Supplement, including VAT £210

plus search fees of £300

plus Land Registry Bankruptcy on Mr & Mrs Jones £4

plus Land Registry Official Search with Priority £2

Plus Land Registry Registration Fee £95

Plus Land Transaction Tax £350

Plus Bank Transfer Fee £14.40

Estimated total £1,5894.40

We would suggest you telephone us for a tailored more accurate quote.

Leasehold Information

There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

Anticipated Disbursements*

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £75 and £350 plus VAT.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £75 and £350 plus VAT.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £75 and £350 plus VAT.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £75 and £350 plus VAT.

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

On occasion the cost of our service may increase as extra work may be required for factors which are not apparent at the outset. For example:

  • If the legal title is defective or part of the property is unregistered.
  • If building regulations or planning permission has not been obtained.
  • If crucial documents that have been requested are unavailable.

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6 – 12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some examples of what you can expect:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Send final contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

Hughes Parry Limited is registered in England and Wales Reg No. 7157256 and uses the trading name of Hughes Parry Solicitors VAT Reg No. 987 5419 59. Our registered office is 35 High Street, Holywell, Flintshire CH8 7TE and we are authorised and regulated by the Solicitors Regulation Authority under reference 533052. Our professional rules of conduct can be viewed at: http://www.sra.org.uk/solicitors/handbook/code/content.page. We can be contacted by email at reception@hughes-parry.co.uk. The Alternative Dispute Resolutions Regulations 2015 require us to provide consumers with details of the Official Dispute Resolution platform. The ODR platform can be viewed at: http://ec.europa.eu/odr.