House purchase costs and timescales

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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales. We do not charge extra for dealing with the mortgage or completing the Stamp Duty/Land Tax forms, unlike some firms.

Purchase Fees Under £750k

Purchase Fees Over £750k

Stages of the process

The following work is included in our charges:

1. Take your instructions and give you initial advice
2. Check finances are in place to fund purchase and contact lender's solicitors if needed
3. Receive and advise on contract documents
4. Carry out searches
5. Obtain further planning documentation if required
6. Make any necessary enquiries of seller's solicitor
7. Give you advice on all documents and information received
8. Go through conditions of mortgage offer with you
9. Send final contract to you for signature or meet with you to witness your signature
10. Agree completion date (date from which you own the property)
11. Exchange contracts and notify you that this has happened
12. Arrange for all monies needed to be received from lender and you
13. Complete purchase
14. Deal with payment of Stamp Duty/Land Tax
15. Deal with application for registration at Land Registry
16. Store your file at the end of the transaction in accordance with SRA guidelines

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 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.

* Our fee assumes that:

• this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
• the transaction is concluded in a timely manner and no unforeseen complication arise
• all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
• no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
• It is not a new build property

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 12 - 16 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 property with a mortgage in principle, it could take 6 - 8 weeks. However, if you are buying a new build property, this can take significantly longer, between 3 and 6 months. In such a situation additional charges would apply.

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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales. We do not charge extra for dealing with the mortgage or completing the Stamp Duty/Land Tax forms, unlike some firms.

To check out our charges for acting for you on the purchase of a leasehold property use our online calculator and add on £360.00 including VAT. This assumes the lease is a standard lease with no unusual features. If the property is part of a retirement development, or is otherwise unusual, additional charges may apply.

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 in the online calculator but for leasehold properties there are usually additional fees to pay as set out below*. This list is not exhaustive and other disbursements may apply depending on 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.

• Notice of Transfer fee* – This fee if chargeable is set out in the lease. Often the fee is between £100 - £300.
• Notice of Charge fee* (if the property is to be mortgaged) – This fee is set out in the lease.
• Certificate of Compliance fee* - To be confirmed upon receipt of the lease.

*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 this we receive this information.

Work included in our charges

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some key stages that are included in the work that we will do for you:

1. Take your instructions and give you initial advice
2. Check finances are in place to fund purchase and contact lender's solicitors if needed
3. Receive and advise on contract documents
4. Carry out searches
5. Deal with the management company requirements
6. Obtain further planning documentation if required
7. Make any necessary enquiries of seller's solicitor
8. Give you advice on all documents and information received
9. Go through conditions of mortgage offer
10. Send final contract to you for signature or meet with you to witness your signature
11. Draft Transfer
12. Advise you on joint ownership
13. Obtain pre-completion searches
14. Agree completion date (date from which you own the property)
15. Exchange contracts and notify you that this has happened
16. Arrange for all monies needed to be received from lender and you
17. Complete purchase
18. Deal with payment of Stamp Duty/Land Tax
19. Deal with application for registration at Land Registry
20. Store your file in accordance with SRA guidelines

* Our fee assumes that:

• this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
• this is the assignment of an existing lease and is not the grant of a new lease
• the transaction is concluded in a timely manner and no unforeseen complication arise
• all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
• no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
• It is not a new build property

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 12 - 16 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 or variation of the lease, this can take significantly longer, between 3 and 6 months. In such a situation additional charges would apply.