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Freehold Purchase

Our fees cover all 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) or Land Transaction Tax (Land Tax).

Fees:

Legal fees: £850.00 - £1,200.00 plus VAT

 

We offer fixed fee conveyancing. The fees are applicable to property up to the value of £1,000,000.00. Property above this value will be charged at 0.1% of the purchase price

 

If we are acting for your lender on a purchase, we will charge such fees as are provided in the mortgage offer.  This varies between lenders but is usually around £180 Inc. of VAT.

An additional cost added to the fees will be the electronic money transfer fee: £42.00 including VAT

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 a smoother process.

 

Search fees: £350.00 (Approximate)

 

HM Land Registry fee: £40.00 – £270.00 for property up to a value of £1,000,000.00 and £455.00 for a property over £1,000.000.00.

 

Note: The exact amount depends on the exact value of the property.

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 https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using https://beta.gov.wales/land-transaction-tax-calculator

Our fees and some of our expenses are subject to VAT (currently 20%)

 

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 8-12 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 12 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.

 

Who will deal with you case?

 

Matters of this nature are usually dealt with our Zoheb Chaudhry or Tasneem Raza.

BRIAN COULTER