Property​ Fees

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) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

The quote below is the average cost of a leasehold purchase of a registered property with some element of mortgage finance at a purchase price of £350,000.

Conveyancer’s fees and disbursements

• Legal Fee £875 plus VAT plus £100 if leasehold house or plus £150 if leasehold flat plus £75.00 if different agents are used as managers of the estate.
• Search Fees £200, approximately, as local search cost varies from authority to authority.
• HM Land Registry Fee £135.00 (can be more if new lease).
• Electronic money transfer fee £36.00 (including VAT).
• Stamp Duty Return Fee £36.00.
• Case Management Fee £36.00 (including VAT).

Estimated Total £1,593.00 inc VAT

Plus Stamp Duty land Tax(please see below) this can be significant. Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending of the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s Solicitors.

Anticipated Disbursements

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 - £100.
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between.
• Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50 - £100.
• Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50 - £100.

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents. You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Estimated Stamp Duty Land Tax £7,500.

This depends on the purchase price of your property. You can calculate the amount that you need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, we set out below the major stages involved in a property purchase.

• Take your instructions and give you initial advice.
• Check finances are in place to fund purchase and contact lender’s solicitors if needed.
• Receive and advise on contract documents (including Lease and any related documents).
• Carry out searches.
• Obtain further planning documentation if required.
• Make any necessary enquiries of the seller’s solicitor.
• Give you advice on all documents and information received.
• Go through conditions of mortgage offer.
• Send final contract to you for signature.
• Draft Transfer.
• Advise you on joint ownership.
• Obtain pre-completion searches.
• Agree complete date (date from which you own the property).
• Exchange contracts and notify you that this has happened.

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) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

The quote below is the average cost of a freehold purchase of a registered property with some element of mortgage finance at a purchase price of £350,000.

Conveyancer’s fees and disbursements

• Legal Fee £875.00 plus VAT.
• Search Fees £200, approximately, as local search cost varies from authority to authority.
• H M Land Registry Fee £135.00 if property is registered, otherwise £270.00.
• Electronic money transfer fee £36.00.
• Stamp Duty Return Fee £36.00.
• Case Management Fee £36.00.

Estimated Total £1,493.00 inc VAT Plus Stamp Duty Land Tax (see below). This can be significant.

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 that you 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.

Estimated Stamp Duty Land Tax £7,500

Please be aware that the above information is indicative only and not a personal quote.

There are various factors that may lead to increased costs such as

• If the property is unregistered
• If the legal title is defective in anyway
• If crucial documents or instructions requested and not provided promptly.
• It becomes apparent that building regulations or planning permission has not been obtained.
• If the Vendor or the vendors conveyancer fails to cooperate.
• If you are buying with the assistance of a Government Scheme.
• If the Property is a newbuild or similar.

HB 121 Solicitors, offers legal services related to Property Litigation & Conveyancing, Civil Litigation, Wills and Probate, Family law and divorce