Conveyancing Fees – Purchases
Our fees cover all of the legal work required to complete the purchase of the property based in England & Wales.
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.
The information is based on a number of assumptions and in particular the fees assume that:
- This is a standard transaction and that no unforseen 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.
- The transaction is concluded in a timely manner and no unforseen complication arise
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documnetation
VAT
Where VAT is said to apply it will be charged at the prevailing rate, currently 20%.
Purchase
| Price from | Price to | Legal Service fee | Legal Service fee including VAT at the current prevailing rate 20% | Leasehold fee | Leasehold fee including VAT at the current prevailing rate 20% | Total | Total including VAT at the current prevailing rate 20% |
|---|---|---|---|---|---|---|---|
| £0 | £200,000 | £1,100 | £1,320 | £50 | £60 | £1,150 | £1,380 |
| £200,001 | £300,000 | £1,325 | £1,590 | £50 | £60 | £1,375 | £1,650 |
| £300,001 | £400,000 | £1,475 | £1,770 | £50 | £60 | £1,525 | £1,830 |
| £400,001 | £500,000 | £1,550 | £1,860 | £200 | £240 | £1,750 | £2,100 |
| £500,001 | £9,999,998 | £1,700 | £2,040 | £200 | £240 | £1,900 | £2,280 |
Please see our online quoting system for a breakdown of fees and service standards.
Plus disbursements
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure your transaction proceeds smoothly. Some disbursements may attract VAT at the current prevailing rate 20%. These will be fully detailed in the breakdown of the costs when using our online quoting system.
Timings
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. On average the process takes about 6-8 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are purchasing property with a mortgage and also selling within a chain it could take significantly longer.
Purchase of a leasehold property could take longer as it is necessary to check both the leasehold and freehold titles and management company information.
Factors that may influence timescales on your purchase can include, but are not limited to:
- Other parties in the chain - including efiiciency of their solicitors carrying out their side of the work
- A transaction in the chain failing
- Mortgage arrangement delays
- Construction of propertyi (if new-build)
- A need for the granting of Probate if you (or someone else in the chain) is purchasing a property as part of a deceased’s estate
- A lease requiring extension or the need to vary the terms of a lease by way of Deed of Variation
Work that we will be carrying out
- lnvestigating title, drafting and approving legal documentation
- Raising pre-contract enquiries
- Carrying out and reviewing searches and advising on the contents of the searches
- Reviewing any mortgage instructions
- Preparing a substantive Property Report to you
- Preparing a substantive Lease Report to you (Leasehold only)
- Exchanging contracts
- Completing the purchase
- Filing any retums and making payment of Stamp Duty / Land Tax
- Dealing with any post-completion requirements under the terms of the Lease (Leasehold only)
- Dealing with registration procedures at the Land Registry
Please note we reserve the right to charge additional legal fees in exceptional circumstances where the complex nature of the transaction requires additional legal work to be carried out. An example of this would be where there is a need to enter into a Deed of Easement or for example a Deed of Variation to either extend or vary the terms of a Lease. lf such a need were to arise you would be advised of the cost beforehand giving you the opportunity to assess the additional fees.
Should you wish to opt into having your identity verified through the Thirdfort app using a smart phone, table or iPad (again more details will be provided in your initial client care pack). We will meet the cost we pay for these checks if you opt in by signing and returning the relevant form provided within our initial client care pack.
Should you wish to opt into having your Source of Funds checked through the Thirdfort app using a smart phone, table or iPad and through your online banking (more details will be provided in your initial client care pack). We will meet the cost we pay for these checks if you opt in by signing and returning the relevant form provided within our initial client care pack.
Please also note that for you to be able to use this service you must have a passport, photo driver’s licence, identity card or residence permit.
Stages of the process
- Taking your instructions and giving initial advice
- Checking finances are in place to fund the purchase and contact lender’s solicitors if required
- Receive and review title and contract documents
- Conduct searches
- Obtain further documentation if required, for example further planning information
- Make the necessary enquiries of seller's solicitor
- Advise of all documents and information received in Property Report, Search Report and Lease Report (if applicable)
- Analyse conditions of your mortgage offer and prepare Mortgage Report Letter (if applicable)
- Client signs and returns documents and puts us in funds of deposit in anticipation of exchange of contracts
- Handle the exchange of contracts and notify you accordingly
- Manage receipt of monies from you and your lender
- Complete the purchase
- Administrate payment of Stamp Duty / Land Tax
- Deal with any post-completion requirements under the terms of the Lease (Leasehold only)
- Administrate application for registration at Land
It would not normally be necessary to undertake other work or incur other costs other than those described above. However, we would be very happy to provide you with a more tailored quote for all stages of your particular case once we know about your specific circumstances.