Conveyancing
Residential conveyancing process (sale)
| Sale Price Band | Our Fees Start From | Vat at 20% |
|---|---|---|
| £0-£249,999 | £650.00 | Vat at 20% |
| £250,000 - £499,999 | £750.00 | Vat at 20% |
| £500,000 - £749,999 | £800.00 | Vat at 20% |
| £750,000 – £999,999 | £850.00 | Vat at 20% |
| £1m – £2m | £950.00 | Vat at 20% |
| Description | Our Fees | 20% of our fee |
|---|---|---|
| Bank Transfer Fee (each) | £30 | £6 |
| If Property is Leasehold | £100 | £20 |
| If Property is a Retirement Property | £100 | £20 |
| If Property is Shared Ownership | £100 | £20 |
| Acting on behalf of a limited company | £100 | £20 |
| If there is a management company on a freehold purchase | £100 | £20 |
Other Expenses (often referred to as disbursements):
| Item | Estimated Costs | VAT |
|---|---|---|
| Land Registry Documents) | £20 | £4 |
There may be other costs that might be payable. These are items payable to third parties who set their own fees. Examples are:
| Item | When might it arise | Payable to | Typical Cost |
|---|---|---|---|
| Management Information | Where you have a management company or freeholder (landlord) | Management Company or Freeholder | £150-£400 |
| Indemnity Insurance | Where a title defect has been identified | Indemnity Insurance Company | £50-£500 |
| Planning and Building Control Documents | Where the buyer has requested documents for works | Local Council or Professional Trade Body such as GAS SAFEy | £6-£40 |
Residential conveyancing process (purchase)
| Sale Price Band | Our Fees Start From | Vat at 20% |
|---|---|---|
| £0-£249,999 | £750.00 | Vat at 20% |
| £250,000 - £499,999 | £850.00 | Vat at 20% |
| £500,000 - £749,999 | £900.00 | Vat at 20% |
| £750,000 – £999,999 | £950.00 | Vat at 20% |
| £1m – £2m | £1,050.00 | Vat at 20% |
Other Fees that may apply depending on the circumstances:
| Description | Our Fees | 20% of our fee |
|---|---|---|
| Bank Transfer Fee (each) | £30 | £6 |
| If Property is Leasehold | £100 | £20 |
| If Property is a Retirement Property | £100 | £20 |
| If Property is Shared Ownership | £100 | £20 |
| If Property is Help to Buy | £100 | £20 |
| Acting for Morgage Lender | £100 | £20 |
| Acting on Behalf of Limited Company | £100 | £20 |
| If there is a management company on a freehold purchase | £100 | £10 |
Other Expenses (often referred to as disbursements):
| Item | Estimated Costs | VAT |
|---|---|---|
| Land Registry Search | £7 | £1.40 |
| Circa Searches | £250 | VAT Inclusive |
Land Registry Fees
| Purchase Price | Online Registration(applies to most cases) | Postal Registration, Transfer of Part or New Lease(Typically applies where property title is currently unregistered or a new property) |
|---|---|---|
| 0 to £80,000 | £20 | £45 |
| £80,001 to £100,000 | £40 | £95 |
| £100,001 to £200,000 | £100 | £230 |
| £200,001 to £500,000 | £150 | £330 |
| £500,001 to £1,000,000 | £295 | £655 |
| £1,000,001 and over | £500 | £1,105 |
| Item | Payable to | Typical Cost |
|---|---|---|
| Management Company Fees | Landlord or Management Company | £10-£250 |
| Indemnity Insurance (where title defect identified) | Indemnity Insurance Company | £50-£500 |
Stamp Duty
Stamp Duty Land Tax on Purchases of Residential Property
When you complete the purchase of your property, you will be liable to pay Stamp Duty Land Tax (SDLT). As well as different rates applying depending on the value of the property, your own circumstances will also dictate the rate that you pay or whether you have to pay at all.
The main residential rate of stamp duty payable by individuals are calculated as follows:
| Property or lease premium or transfer value | SDLT rate |
|---|---|
| Up to £125,0000 | Zero |
| The next £125,000 (the portion from £125,001 to £250,000) | 2% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
Broadly there are two situations that might change the amount of stamp duty you must pay:
- You Are a First Time BuyerIf you are first-time buyers purchasing for £500,000 or less, the first £300,000 of the purchase price is free of stamp duty. This means that if you are buying for £300,000 or less, you will not have to pay any stamp duty. However, you will still have to submit a stamp duty land tax return. By “first-time buyer” HMRC means that none of the purchasers has ever owned or part-owned any residential property anywhere in the world. If, for example, you part-owned a residential property 30 years ago you would not qualify for this relief.
- You will own two or more properties after completion or if you are purchasing through a company and the purchase price is £40,000 or over.If on the day of completion, you, or your spouse or civil partner, will own more than one residential property you will be liable to a higher rate of stamp duty. The higher rate amounts to 3% of the entire purchase price and will be added to the normal rate of stamp duty that you will pay. The main exemption to this rule occurs if you are completing the sale of your current residence on the same day that you complete your purchase. In those circumstances, you will pay the standard rate. Properties bought in the name of companies almost always attract the higher rate except under special circumstances.
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