Our pricing depends on the price of the property and the complexity of the matter.
Our fees for a typical house purchase range from around £594 (inc. VAT) for a simple transaction to around £3000 (inc. VAT) for a substantial historic building on unregistered land. The cost will vary in cases with special complications such as:
- If the legal title is defective or part of the property is unregistered
- If we discover building regulations or planning permission has not been obtained
- If crucial documents we have previously requested from the client have not been provided
This is why it is important that we give you an individual cost estimate at the start of the transaction, taking into account the important features of your purchase. We will always advise you immediately about any complications and discuss the potential impact on prices before we incur any additional charges.
Our fees cover all of the work required to complete your purchase, including dealing with registration of your ownership at the Land Registry and dealing with payment of Stamp Duty Land Tax if the property is in England. We do not deal with purchases in Wales.
Disbursements are fees we are required to pay out on your behalf to third parties and include the following:-
- Search fee – approximately £228 depending on the local authority
- H M Land Registry fee – This is set by the Land Registry according to the purchase price (see Land Registry fee scale on their website)
- Electronic money transfer fee – £35
- VAT – we will add VAT to our charges at the rate which applies when the work is one. Currently 20%
Stamp Duty Land Tax
This depends on the purchase price of the property and you can calculate the amount you will need to pay by using HMRC’s website.
How long will my house purchase take?
This is dependent on a number of factors but the average process takes between 10-16 weeks. It can be quicker or slower, depending on the other parties in the chain. The chain can only move as fast as the slowest person in it. For example, if you are a first time buyer purchasing a new build property which is ready to move into with a mortgage in principle, it could take 6 weeks. However, if you are in a chain of transactions with a new build at the end of the chain which is not physically complete, this can take substantially longer.
Stages of the process:
- Take your instructions and give any initial advice required
- Check finances are in place to fund the purchase
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Raise any necessary enquiries of the seller’s solicitor
- Give you advice on all documents and information received
- Advise on the conditions of your mortgage offer
- Send final contract to you for signature
- Draft transfer document
- Advise on joint ownership
- Exchange contracts and notify you
- Obtain pre-completion searches
- Arrange for all monies required to be received from your lender and you
- Complete purchase
- Deal with payment of Stamp Duty Land Tax
- Register your ownership of the property with the Land Registry
If you would like further information or wish to receive advice about moving home contact our Nottingham office now without obligation. Call Freephone 0800 088 6252 or e-mail firstname.lastname@example.org
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Listed below are the profiles of all of our Residential Conveyancing team where you can find out more about their experience and qualifications. The team member assigned to your case will vary depending on your location and the complexity of your case.