Clarkes’ property lawyers are passionate about their conveyancing and will conduct your case sympathetically and efficiently. Our team of specialist property lawyers has considerable experience in dealing with all types of freehold and leasehold property all over England and Wales. Our senior Solicitors and Conveyancers are known for their property expertise.
An indication of our fees* for a typical freehold conveyancing purchase transaction for a first time buyer without the aid of a mortgage including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (formerly Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales are as below.
Clarkes will provide a fully detailed estimate upon instruction showing all costs and anticipated disbursements and charges and any charges for work done outside the scope of the typical transaction.
Fees and disbursements may vary due to a number of factors; such as value of the property or lease concerned, the urgency of the work, or if there are any other complicating factors but as a guide for a typical purchase example please see below.
Conveyancer’s fees and disbursements on an assumed purchase price of £200,000.00:
- Legal fee £645.00
- Typical Search fees £300.00
- HM Land Registry fee £95.00
- Electronic money transfer fee £40.00
- VAT payable £137.00
- Estimate total: £1217.00
In addition our fee for Stamp Duty Land Tax return preparation and submission is £75.00 plus VAT £15.00.
Disbursements are costs related to your matter that are payable to third parties, such as local, water and drainage, environmental and mining search fees as well as Land Registry fees. These can vary depending upon where the property is situated and the number of searches needed. We handle the payment of the disbursements on your behalf to ensure a smoother process.
* The fees and disbursements estimated above are an indication only of typical charges and do not include charges for additional work outside the scope of the original estimate which potential charges will be clearly set out in your personal estimate. You will be informed of any additional disbursements as soon we become aware of these. If you are not a first time buyer Stamp Duty Land Tax will likely be payable, the amount depending on whether or not the purchase is for your residence and whether or not you own another property.
Stamp Duty Land Tax
The amount of Stamp Duty Land Tax payable depends on your status and the purchase price of the 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.
How long will my house purchase 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 to 8 weeks but can be longer.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a cash purchaser with no chain it could take as little as 4 to 6 weeks. However, if you are buying a freehold property in a chain of transactions this can often take significantly longer perhaps 8 to 12 weeks.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. They include the following:
- Take your instructions and give you initial advice
- 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 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 (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
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Who will deal with my matter?
Please see the Residential Property section of our website. Upon instruction you will be allocated a dedicated caseworker whose level of experience will be commensurate with the type of matter. All our staff are highly trained and receive constant updates and training on new areas of law and practice and procedure.