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  Solicitors Bude Cornwall   Our Services - Residential Purchase Fees Holsworthy Solicitors

 

Thank you for your interest in our conveyancing services for the purchase of your property.

Our fees cover the normal work required to complete the purchase of your new home, including registration at HM Land Registry and submitting any required Stamp Duty Land Tax return.

Residential Freehold Purchase Fees

These fees apply to the purchase of a normal residential freehold property with a registered title which is not a new build. They exclude acting for a mortgage lender and the additional legal fees and payments to third parties set out below. All legal fees are exclusive of VAT at the prevailing rate, currently 20%.

Property value Legal fee VAT at 20% Total
£0 - £350,000£1,400.00£280.00£1,680.00
£350,001 - £450,000£1,600.00£320.00£1,920.00
£450,001 - £550,000£1,900.00£380.00£2,280.00
£550,001 - £650,000£2,100.00£420.00£2,520.00
£650,001 - £750,000£2,400.00£480.00£2,880.00
£750,001 - £850,000£2,900.00£580.00£3,480.00
£850,001 - £950,000£3,100.00£620.00£3,720.00
Over £950,000Price on application
Additional Legal Fees

Additional work Legal fee VAT at 20% Total
Acting for a mortgage lender£250.00£50.00£300.00
Completing and submitting an SDLT return£150.00£30.00£180.00
Unregistered title£375.00£75.00£450.00
Leasehold property£400.00£80.00£480.00
New-build property£350.00£70.00£420.00
Transfer of part£400.00 minimum£80.00 minimum£480.00 minimum
The additional fees are added to the standard fee shown above. More than one additional fee may apply. We will provide a personalised estimate once we understand the property and your circumstances.

Other Usual Charges

Charge Cost VAT Total
Search fees (estimated and dependent on the property location)£600.00£0.00£600.00
Money transfer administration fee£30.00£7.00£37.00
HM Land Registry priority search£7.60£1.20£8.80
Land Charges bankruptcy search (per person)£6.50£1.30£7.80
Chancel liability insurance in place of a chancel liability search£19.00£0.00£19.00
Stamp Duty Land Tax

The amount payable depends on the purchase price and your circumstances. You can obtain an indication using HMRC's SDLT calculator.

HM Land Registry Fees

The registration fee depends on the purchase price, whether the property is registered and whether you are buying all or part of the seller's property. You can obtain an indication using the HM Land Registry fee calculator or review the HM Land Registry fee guidance.

Leasehold and Freehold Management Charges

If the property is leasehold or subject to freehold estate or service charges, the landlord, management company or estate owner may charge additional fees. These are not our fees and vary between properties. Typical examples include:

• Notice of assignment: often £75 plus VAT to £250 plus VAT.
• Notice of mortgage: often £75 plus VAT to £250 plus VAT.
• Certificate of compliance: often £150 plus VAT to £250 plus VAT.

How long will my house purchase take?

Each purchase is different and depends on all parties, any chain and other matters affecting the property. A normal purchase commonly takes between 6 and 16 weeks from acceptance of your offer to completion. It may be quicker or slower. A lease extension, title problem or other non-standard issue can significantly increase the timescale.

Exclusions

Our fee estimate is based on a normal residential purchase. Further fees may apply for additional or unforeseen work, including:

• an urgent transaction with a short timescale;
• title defects or missing deeds or documents;
• planning or building regulation issues;
• indemnity insurance;
• additional property-specific searches;
• bridging, lifetime, equity-release or other non-standard mortgages;
• a lender represented by a separate firm;
• shared ownership or right-to-buy properties; or
• an auction or repossession purchase.

This list is not exhaustive. We will discuss any additional work and fees with you.

Stages of the Process

The precise stages vary, but a normal purchase usually includes:

• taking your instructions and providing initial advice;
• checking your identity, source of funds and finance;
• receiving and reviewing the contract papers;
• carrying out searches and raising enquiries;
• reporting to you on the title, contract, searches and mortgage offer;
• arranging signature of the contract and other documents;
• agreeing a completion date and exchanging contracts;
• arranging the purchase funds and completing the purchase;
• submitting the SDLT return and paying any SDLT due; and
• applying to HM Land Registry to register your ownership.

 
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