Purchase of a freehold property – Fixed Fee

Our fixed fee covers all the work required to complete the purchase of your property.  This will include the following key stages :-

• Taking your instructions
• Advising on the contract and supporting documentation
• Carrying out searches
• Making the necessary enquiries of the sellers Solicitor
• Going through the mortgage offer with you
• Advising you on joint ownership
• Arranging for the Contract and Mortgage documentation to be signed
• Agreeing a completion date
• Exchanging Contracts
• Carrying out pre-completion searches
• Requesting purchase monies from your lender and yourself
• Completing the purchase
• Dealing with the payment of Stamp Duty
• Dealing with registration formalities at H M Land Registry

Costs

Our costs range from £450.00 plus VAT up to £1,500.00 plus VAT depending on the value of the property.

Example of our costs on a  property purchase at £150,000.00.  This assumes you are obtaining a mortgage.

Our costs      £450.00 plus VAT at 20%

• We also charge a fee of £10.00 plus VAT to carry out an identity check for each purchaser.
• We also charge a fee of £36.67 plus VAT to carry out searches and prepare a search report
• We also charge a fee of £30.00 plus VAT to arrange for a bank transfer of the purchase monies to the sellers Solicitors bank account
• We also charge a fee of £50.00 including VAT in respect of a Help to Buy ISA Bonus Scheme (if applicable)

Disbursements which would be payable in addition to our fee are :-

Disbursements are expenses paid on your behalf such as H M Land Registry fees and search fees.

Stamp Duty and H M Land Registry fees are based on the value of the property and can be calculated using the websites below.

• Search fees £108.33
• Bankruptcy searches £2.00 per person
• Lenders Charge for using Electronic Portal (if applicable) £10.00 plus VAT – this is dependent upon your mortgage lender
• H M Land Registry search £3.00
• Stamp Duty. For further details please visit https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
• Land Registry fee – this is based on the value of the property. For further details please visit http://landregistry.data.gov.uk/fees-calculator.html

Introduced Cases

We work with a number of leading estate agents and introducers throughout England and Wales. The companies support us in marketing our services, providing case tracking and update platforms, collecting initial payments and (in purchase transactions) ordering searches and sales progression. This support is a valuable support for us and in return we pay variable referrals fees to these companies, which is depended on the level of support they provide us with. Referral fees start from £50.00. This is a fee paid by ourselves and is not an additional cost to you

Potential Additional Disbursements

There may be certain factors which would attract further disbursements:-

• If the title to the property you are buying is defective and you have to obtain an indemnity policy.
• If building regulations or planning permission have not been obtained or copies of these are not available and have to be requested from the relevant authority.

Timescales

On average we would anticipate the purchase of a residential freehold property to take between 6 to 8 weeks from receipt of contract documentation.  However, you should be aware that this depends on many factors and if there is a chain, the pace is likely to be dictated by the slowest party.

For Leasehold Property

Additional costs

Our additional costs to act on your behalf in connection with the purchase would be £75.00  plus VAT this is in respect of the following additional work which will be carried out on your behalf:-

• Checking the Lease
• Checking the Management Company Information Pack
• Raising leasehold enquiries
• Apportioning Ground Rent and Service Charge

Further Disbursements

The following additional disbursements may be payable:-

• Notice of Transfer fee – this is set out in the leasehold information pack and is often between £60.00 – £150.00
• Notice of Charge fee (if the property is to be mortgaged) – this fee is set out in the leasehold information pack and is often between £60.00 – £150.00
• Deed of Covenant fee. This fee is charged by the Management Company.  It is difficult to estimate, but can range between £60.00 – £150.00
• Certificate of Compliance fee. This will be detailed in the leasehold information pack and is often between £60.00 and £150.00.
• Share Certificate. Depending upon the set up of the Management Company you may be required to become a member of the Management Company

The above disbursements can vary and can on occasion be more than the ranges specified above.  We can provide you with accurate figures once we are in receipt of documentation.

Timescales

On average we would anticipate the purchase of a residential leasehold property to take between  8 to 12 weeks from issue of contract documentation.  However, you should be aware that this depends on many factors and if there is a chain the pace is likely to be dictated by the slowest party.