Residential Property Pricing

Our fixed fees cover all the work required to complete the sale, purchase or remortgage of your new home, including 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.  This means that our fees cover all of the work envisaged at the time that the estimate is issued.  They cannot cover any unexpected complexity or issues arising during the course of the transaction.

All our costs are subject to the payment of VAT at the applicable rate (currently 20%).

You will also incur certain disbursements.  These 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.

Conveyancer's fees and disbursements. 

We would be delighted to provide you with a detailed, personal quotation.  Please contact us for more details. 

Please note that the cost of search fees does vary considerably from region to region.  Teignbridge District Council and South West Water costs only are shown below.  Please ask us to confirm costs for any other part of the country.
The average prices shown below are based on all transactions of that type for the calendar year ending 30th September 2018.

• Our average fee for a freehold sale was £750.00+ VAT
• Our average fee for a leasehold sale was £850.00+ VAT
• Our average fee for a freehold purchase was £875.00+ VAT
• Our average fee for a leasehold purchase was £900.00+ VAT
• Our average fee for remortgage transactions was £500.00 + VAT

 Legal fees for conveyancing

  Type of Transaction                Net Costs

  VAT (at 20%)  

  Costs including   VAT (at 20%)
  Freehold Sale   Start from £695.00   £139.00   £834.00
  Freehold Purchase   Start from £795.00   £159.00   £954.00
  Leasehold Sale   Start from £795.00   £159.00   £954.00
  Leasehold Purchase   Start from £895.00    £179.00   £1,074.00
  Remortgage   Start from £500.00   £100.00   £600.00

 

 

 

 

 

 

Supplementary Legal Fees (if applicable) on sales and purchases

  Type of Transaction              Net Costs

  VAT (at 20%)

  Costs including VAT (at 20%)
  Purchasing with a standard mortgage   £50.00   £10.00   £60.00
  Help to Buy ISA   £50.00   £10.00   £60.00
  Help to Buy equity mortgage   £350.00   £70.00   £420.00
  New build property   £295.00   £59.00   £354.00
  Gifted deposit   £100.00   £20.00   £120.00

 

 

 

 

 Other Costs Including Searches

  Type of Transaction                Net Costs   VAT (at 20%)   Costs including VAT (at 20%)
  Standard searches pack (OS1, official Local Authority search, drainage and water and environmental searches)   £191.23   £38.25   £229.48
  Electronic money transfer fee (sometimes called a CHAPS)   £30.00   £6.00   £36.00

  HM Land Registry fee (depends on purchase price of property). 

  Refer to their website for full details: click here

  From £20.00 to £455.00.  Typical cost £135.00 or £270.00.   N/A  
  Stamp duty or land tax (Wales).

  Dependent on value of property and whether any reliefs are available such as First Time Buyer Relief. 

  Refer to the HMRC website here for the stamp duty calculator or the Welsh Land Tax website here to calculate the amount due for a Welsh property.

   

 

 

 

 

 

 

What our fees do not include

Our fees do not include any external costs or any charges that we may incur as part of the process (e.g. estates agents commission, removal costs, environmental remediation cost etc). You will be responsible for those items.

How long will my house purchase take?

How long it will take from your offer being accepted until you can move into your new house will depend on several factors. The average process takes between 1 to 3 months (4-12 weeks).

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer purchasing an existing freehold property with a mortgage, in principle, it could take as little as 2 months (8 weeks). However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, typically between 3 and 6 months.

Wherever there is added complexity not originally envisaged at the outset, it should be appreciated that additional charges could apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to individual circumstances. However, we have set out below the typical stages involved:

• Take your instructions and give you an initial estimate
• 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 the 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 (the 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 (we will always order mortgage monies to be with us at least 1 day prior to completion).
• Complete purchase (on the day completion is fixed – unless a new build property then completion will be on notice)
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

The people involved in Residential Property

You can find out more about the range of services that we offer and the team who can help you by visiting our Property Team pages

We would be delighted to provide you with a bespoke, personal quotation.  Please call us on 01626 772441, email us at law@scottrichards.co.uk or via our contact form for more details. 

If you would like a personal quotation, or any further information about the services we offer, please call us on 01626 772441, email us at law@scottrichards.co.uk or use our contact form

Scott Richards

Scott Richards Solicitors
Newfoundland House
4 Regent St 
Teignmouth TQ14 8SL

law@scottrichards.co.uk

01626 772441

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