Purchasing Residential Property
The Basics
How long will your transaction take to complete?
It is difficult to predict how long a conveyancing transaction will take and each transaction is dependent on various factors. A simple transaction can take some 8-12 weeks to complete whereas others may take as long as 4-6 months to complete. Where we need to liaise with third parties, we are somewhat reliant on their turnaround times in addition to our own work. We will keep you up to date and inform you if we anticipate any delays.
Steps involved
Pre-contract
- Client-engagement formalities, such as obtaining funds on account, money laundering, and engagement documentation;
- Taking your thorough instructions, including the terms on which you wish to purchase; and details about the property being purchased;
- Confirming the Vendor’s legal title, including reviewing the deeds; planning permissions; buildings consents, etc.
- Carrying out searches with the Local Authority, utilities providers, services providers, environmental searches, water and drainage searches, chancel, etc (costs of these set out below);
- Reviewing and negotiating the draft Contract for sale, and the level of deposit required;
- Reporting to you and your mortgage Company (if applicable) formally, and as necessary throughout; answering any queries raised, and being available at all reasonable times to you;
- Forming an agreement with regards to what option you chose to proceed with in regards to the joint ownership of the Property (if applicable).
Exchange and pre-completion
- Dealing with exchange of contracts,
- Obtaining the deposit from you, and paying the deposit to the Vendor;
- Reviewing and negotiating the draft Transfer, including any covenants therein;
- Raising requisitions on title and confirming the seller’s legal status, in preparation for completion.
Completion and post-completion
- Completing the purchase, obtaining the balance of funds from the Lender (if applicable), managing and paying over the balance of funds, and dealing with the transfers;
- Arranging for the keys to be collected by you;
- Registering your mortgage if applicable and acting for the lender throughout;
- Preparing and filing your Stamp Duty Land Tax return with the Revenue and paying the tax to them;
- Registering your new purchase at the Land Registry and dealing with any requisitions made; and
- Dealing with a final debrief to you.
Our Prices
No purchase is the same and therefore our fees will reflect the individual circumstances of your purchase. Conveyancing matters are charged on a fixed fee basis.
We will always provide an individual cost estimate before you instruct us and you can obtain this through our conveyancing calculator (click here).
Factors which we consider before quoting on your transaction are:
freehold or leasehold
new build
first registration of title (unregistered land)
a mortgage or not
a shared ownership scheme
using a help to buy scheme
purchase under right to buy
purchase at auction
property has been repossessed
The prices set out below are for illustrative purposes only and the final quote & fees may vary. To receive an accurate quote, please contact our team.
Our Prices
Purchase Price | Fee | VAT | Total |
£0.00 - £149,999.99 | £1,400.00 | £280.00 | £1,680.00 |
£150,000.00 - £249,999.99 | £1,520.00 | £304.00 | £1,824.00 |
£250,000.00 - £349,999.99 | £1,650.00 | £330.00 | £1,980.00 |
£350,000.00 - £499,999.99 | £1,850.00 | £370.00 | £2,220.00 |
£500,000.00 - £749,999.99 | £2,250.00 | £450.00 | £2,700.00 |
£750,000.00 - £999,999.99 | £2,500.00 | £500.00 | £3,000.00 |
£1,000,000.00 to £1,999,999.99 | £2,800.00 | £560.00 | £3,360.00 |
£2,000,000.00 to £2,999,999.99 | £3,500.00 | £700.00 | £4,200.00 |
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Leasehold Fee | £300.00 | £60.00 | £360.00 |
SDLT Return fee | £125.00 | £25.00 | £150.00 |
Help to Buy ISA | £50.00 | £10.00 | £60.00 |
Lender | £150.00 | £30.00 | £180.00 |
Disbursements
Disbursements are costs incurred that are not our fees but are paid to external providers.
Search fees usually range from £300.00 - £700.00+VAT and are dependent on what searches are required and where the property is located
HM Land Registry fee can range from £40.00 - £1000.00
Electronic money transfer fee £12.00 - £40.00 +VAT per transfer
ID Check fee £14.95 plus VAT