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Estimated Residential Property Purchase Fees

Property Conveyancing, photo of terraced houses

To provide you with an indication of our fees, we have provided the following examples of a purchase of a freehold residential property, and of a leasehold residential property below.

Purchase of a freehold residential property

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

Our conveyancing fees and disbursements based on a purchase of a freehold house in Eastbourne, which is not a ‘new build’ property; at a price of £275,000.00 for joint purchasers who are replacing their main residence:

Estimated total: £1,466.33

Disbursements are costs related to your matter that are payable to third parties, such as Search fees and Land Registry fees. We handle the payment of the disbursements on your behalf, to ensure a smoother process.

Stamp Duty Land Tax or Land Transaction Tax when buying a freehold property

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.  The SDLT payable in this example is £3,750.00.

Based on the figure above for estimated total fees and disbursements of £1,466.33; and when adding the SDLT of £3,750.00, the final estimated total would be £5,216.33.

How long will my house purchase take?

How long it will take, from your offer being accepted, until you can move into your house, will depend on a number of factors. The average process takes between 6 to 8 weeks to reach the point of exchange. The completion date, and the time between exchange and completion, is something which is mutually agreed between all parties in the chain. It is usual to have 2 to 3 weeks between exchange and completion – but this can be a shorter period, or a longer one.

It can be quicker or slower, depending upon 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 4 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such a situation, additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, some key stages are listed below, and include:

Purchase of a leasehold residential property

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 (SDLT) if the property is in England, or Land Transaction Tax (LTT) if the property is in Wales.

Our conveyancing fees and disbursements based on a purchase of a leasehold flat in Eastbourne, that is not a ‘new build’ property, at a price of £275,000.00 for joint purchasers who are replacing their main residence:

Estimated total: £1,616.33

Disbursements are costs related to your matter that are payable to third parties, such as Search Fees and Land Registry 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 on the terms 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**

**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 charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charges as soon as we receive this information.

Stamp Duty Land Tax or Land Transaction Tax when buying a Leasehold Property

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.

Based on the figure above for estimated total fees and disbursements of £1,616.33; and when adding the SDLT of £4,550.00, the final estimated total would be £6,166.33

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, some key stages are listed below, and include:

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 10 – 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 leasehold property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such a situation, additional charges would apply.

*Our fee assumes that:

There are various factors which affect our fees.  These include:

You will appreciate from the information above, that it is difficult to provide you with the information in written form to give you an exact quotation, as there are many factors which will affect the costs.

If you wish to obtain a more specific estimate of the costs, please click on the links below which will take you to our estimate calculator. Please note that this relies on the information you enter, and if the facts of the matter differ from those inputted, then we reserve the right to amend the estimate. If you do decide to instruct us, we will provide you with a formal fee estimate at the outset of the transaction.

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