In Fees, Buying and selling property

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. Legal fees are the charges that Rawlins Davy Reeves make for our time spent on the matter and are calculated according to the value of the property. 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. Our scale of fees is set out below.

Conveyancer’s fees and disbursements

Legal fees are calculated according to the value of the property.

Property Price Fees (excluding VAT) Total (including VAT @ 20%)
0-250,000 £     1,450.00 £     1,740.00
250,001-500,000 £     1,550.00 £     1,860.00
500,001-750,000 £     1,750.00 £     2,100.00
750,001-1,000,000 £     2,050.00 £     2,460.00
1,000,000+

0.225%

Additional Charges

Electronic money transfer fee      £        35.00 + VAT @ 20%    £        42.00

Disbursements

Search fees These will vary according to the nature of the property,
but are usually in the region of £350-£400 + VAT @ 20%
HM Land Registry fee This is usually between £20 and £455 according to the
value of the property
Pre-completion search fees Unlikely to exceed £10.00 + VAT @ 20%
AML Search £8 + VAT @ 20% £   9.60

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 here.

Exceptional circumstances

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.  Where title to the property is unregistered we will usually apply an additional charge of £250+vat (total £300).
  • 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.

Should one or more of the above arise we reserve the right to vary our fee from the scales above, but we will always seek your approval of any variation before additional fees are incurred.

We have prepared a list of the stages of residential property purchase to highlight the key factors and help you understand the process fully

To meet our residential property team please click below

Neil White

Bronte Haynes

 

How long will it 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 6 and 10 weeks. It can be quicker or slower, depending on the parties in the chain. If, for example, you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, perhaps so long as 3 and 6 months. In such, a situation additional charges would apply.

 

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