Buying a House or a Flat (Freehold or Leasehold)

We have a high client satisfaction rating and offer a personalised boutique service to clients.

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 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.

Fees and Disbursements

Our fees are subject to VAT at 20%, which will be added when our fees are showing as “plus VAT”. For example, a legal fee of £1,200 plus VAT will incur VAT of £240, making the total £1,440 inlcuding VAT.

• Legal Fee: see scale below

• HM Land Registry Fee: £20 - £1,000

• Electronic money transfer fee: £40 plus VAT

• Search Fees: £250 - £450 (depending on local authority)

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.

Scale of Legal Fee

Price of Property                                Legal Fees

Up to £500,000                                   £1,995 plus VAT

£500,001 - £1,000,000                       £2,100 - £2,695 plus VAT

£1,000,001 - £1,500,000                    £2,900 - £3,350 plus VAT

£1,500,001 - £2,500,000                    £3,850 - £4,950 plus VAT

£2,500,001 +                                       £5,900 plus VAT +

OTHER DISBURSEMENTS WHEN BUYING A FLAT OR LEASEHOLD PROPERTY

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 - £350.

• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £90 and 3250.

• 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 £90 and £1,000.

• Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £100 – £750.

Stamp Duty Land Tax

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

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 8 to 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 6 months. In such, a situation additional charges would apply.

FIVE STAR REVIEWS FROM OUR CLIENTS

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

• 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

• Carry out searches

• Obtain further planning documentation if required

• Make any necessary enquiries of seller's solicitor

• Give you advice on all documents and information received

• Go through conditions of mortgage offer with you

• Send final contract to you for signature

• Agree completion date (date from which you own the property)

• Exchange contracts and notify you that this has happened

• Arrange for all monies needed to be received from lender and you

• Complete purchase

• Deal with payment of Stamp Duty/Land Tax

• Deal with application for registration at Land Registry

OUR PROPERTY TEAM

Our team has over 30 years of collective experience in delivering high quality work in all matters relating to property and conveyancing.

We have a highly regarded team. Regardless of who works on your matter, they will be supervised by Delfin Posada, the Managing Partner of the firm.

Start the process today:

1. Call us on 020 3744 3800 and speak to one of our lawyers

2. Complete our REQUEST A DETAILED CONVEYANCING QUOTE FORM and we will give you a quote

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