Sale and purchase of residential property
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 payment of Stamp Duty Land Tax if the property is in England, or Land Transaction Tax if the property you purchase is in Wales.
Please see the table below for our standard legal charges for acting on a sale, purchase or remortgage of a residential freehold property. These fees exclude VAT.
There are certain types of residential property transactions that require additional time and work in order for the process to move as smoothly as possible. Below we have listed our additional charges for these instances. Again, these fees exclude VAT.esidential property fees and disbursements
With every transaction there are disbursements which are payments to third parties required in relation to your matter. The most common disbursements are listed below and the costs here include VAT
Stamp Duty Land Tax
This depends on the purchase price of your property and your circumstances. You can calculate the amount you will need to pay by using HMRC’s website here https://www.gov.uk/stamp-duty-land-tax
Third party charges
There are in some cases additional costs that need to be paid to third parties that we cannot always quote for at the outset of a transaction. We will of course make you aware as soon as these costs arise. These are most commonly found in leasehold transactions, but can sometimes appear in freehold purchases of properties on estates with “managed areas”.
These additional costs are most commonly paid to a landlord, management company, managing agent or their solicitor on completion. There are four main separate charges that can be levied and these are detailed below. Again this exclude VAT.
As you can see above these fees vary depending on who they are payable to. The range could be even greater, the above fees are the average costs we have come across.
Below is an example of a full quote inclusive of VAT and disbursements for buying a freehold property for £250,000 in the Bradford area assuming you are not a first time buyer.
Additional services or factors
If you instruct us via a referral agent that may increase overall costs. The referral agent will provide you with a detailed quote which you may decide whether or not to accept.
If unforeseen issues arise there may be additional charges but we will tell you about these in advance and agree them with you before costs are incurred.
How long will my sale or purchase take?
How long it will take from your offer being accepted until you can move in to your new house will depend on a number of factors. The governments advice is that the average process takes between 2-3 months.
Transactions can be slowed down depending on other parties in the chain whose conduct is outside of our and your control. Also, if unforeseen legal issues arise with your property this can cause a delay. For example if the Lease for the property needs extending, or if an extension has been erected without planning and building regulations consents, delays of several months can arise. We will always notify you if we believe an issue has been uncovered which will cause a delay in proceedings.
The precise stages involved in a property transaction vary according to circumstances.