Cost of Freehold Residential property

Costs of Purchase of a freehold residential property

Moving to a new house can be a stressful process, we aim to make your home buying experience as stress free as possible. A named solicitor will be allocated to your purchase from start to finish so that you will always know who to ask for in the event of any queries.

How much does this service cost?

Based on the value of the property we can give you a fixed fee quotation.  This means that you will have the peace of mind of knowing that our professional fees will not be higher than the quote given.

For example, if you are buying a property with a value £250,000 the fee will be £750 plus VAT and Disbursements *

Our Conveyancer’s fees and disbursements based on a purchase price of £250,000 are:

Estimated total: £3,721

Our fees cover all of 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.

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 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 or if the property is located in Wales by using the Welsh Revenue Authority’s website here..

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 several factors, including how quickly your mortgage offer is obtained, length of time to obtain search results, surveys, the number of other people in the ‘chain’ and the type of property you are buying. The average process takes between 8 – 10 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 – 10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 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 we have suggested some key stages that you may wish to include:

* Our fee assumes that:

  1. this is a standard transaction and that no unforeseen 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
  2. the transaction is concluded in a timely manner and no unforeseen complication arise
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.