Buying a Property Pricing Guidance

We believe you should have a clear understanding of our fees from the start.

Buying a property involves a number of legal steps, including reviewing the contract, investigating the title, carrying out searches and enquiries and handling the financial and legal requirements up to completion.

This page explains how our pricing works when you’re buying a property, the key stages of the transaction and the costs you can expect along the way, so you know exactly what’s involved from the outset.

Read more here…

Our fees cover all work expected to be required to complete the purchase of your new home. Including dealing with registration at the Land Registry and also dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or alternatively, Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Legal fees ranging from £1,100.00+ VAT of £220.00 = £1,320.00 to £2,800.00 + VAT of £560.00 = £3,360.00 dependent on value of property and nature of its title.
Matter Assessment Fee £40.00 + VAT of £8.00 = £48.00
ID verification with ThirdFort £40.00 + VAT of £8.00 = £48.00 per name
Electronic source of funds/source of wealth £75.00 + VAT of £15.00 = £90.00 per person
Pre exchange suite of three searches (local search, water and drainage, environmental) £324.30 inc. VAT of £54.05. This price is for buying within Wiltshire and South Gloucestershire. Purchases outside of this area may vary considerably and some properties may require additional searches (e.g. coal mine search) which would cost more).
Priority searches (full land charges search and/or land registry priority search) £7.00 + VAT of £1.40 = £8.40 Bankruptcy £6.00 + VAT of £1.20 = £7.20 per name
HM Land Registry fee £20.00 – £1,105.00. Visit the Land Registry Website for details
Electronic money transfer fee £40.00 + VAT of £8.00 = £48.00 per bank transfer

VAT payable on all “+ VAT” items above, at the current rate of 20%

Purchase Price	Our Freehold Purchase Legal Fee	+ VAT at 20%	Total Fee	Our Leasehold Purchase Legal Fee	+ VAT at 20%	Total Fee
Up to 200k	£1,100.00	£220.00	£1,320.00	£1,600.00	£320.00	£1,920.00
200k to 300k	£1,250.00	£250.00	£1,500.00	£1,750.00	£350.00	£2,100.00
300k to 400k	£1,450.00	£290.00	£1,740.00	£1,950.00	£390.00	£2,340.00
400k to 500k	£1,600.00	£320.00	£1,920.00	£2,100.00	£420.00	£2,520.00
500k to 600k	£1,750.00	£350.00	£2,100.00	£2,250.00	£450.00	£2,700.00
600k to 800k	£2,050.00	£410.00	£2,460.00	£2,550.00	£510.00	£3,060.00
800k to 1m	£2,300.00	£460.00	£2,760.00	£2,800.00	£560.00	£3,360.00
1m+	Available upon request			Available upon request

A growing number of properties constructed since the late 1990s may incur additional annual service fees to cover the maintenance of open spaces and communal areas. These costs will vary depending on the facilities they cover and the number of residences sharing the cost.

In addition on completion of the purchase, there is usually an administration fee payable to the management company undertaking the maintenance work. You may also need to reimburse any fees already paid in advance by the previous owners.

On occasion, there may be additional charges that apply, please see below.

Fee	Net	VAT	Gross

Matter Assessment Fee	£40.00	£8.00	£48.00
ID verification with Third Fort (per name)	£40.00	£8.00	£48.00
Pre-exchange suite of three searches (local, water & drainage, environmental) (price for Wiltshire and South Gloucestershire. Purchases outside of this area may vary considerably and some properties may require additional searches (e.g. coal mine search) which would cost more.)	£270.25	£54.05	£324.30
Priority searches (full land charges search and/or land registry priority search)	£7.00	£1.40	£8.40
Bankruptcy search (per name)	£6.00	£1.20	£7.20
HM Land Registry fee	£20.00–£1,105.00	£0.00	£20.00–£1,105.00
Electronic money transfer fee (per transfer)	£40.00	£8.00	£48.00
VAT note	VAT payable on all “+ VAT” items above at the current rate of 20%.

Please note that in the circumstances detailed below the additional legal fees will be added to those listed above:

Fee	Net	VAT	Gross
Help to Buy ISA used in the purchase add	£55.00	£11.00	£66.00 (per ISA)
Purchase of a new build add	£500.00	£100.00	£600.00
Buyer using a Help to Buy Scheme to finance purchase add	£550.00	£110.00	£660.00
Purchases where the property comes with a tenant in situ add	£90.00	£18.00	£108.00
Leased solar panels in situ	Details discussed on request

Fee	Typical Range
Notice of Transfer fee – This fee (if chargeable) is set out in the lease and is often between	£30.00 plus VAT of £6.00 (total £36.00) to £150.00 plus VAT of £30.00 (total £180.00)
Notice of Charge fee (if the property is to be mortgaged) this fee is set out in the lease and is often between	£30.00 plus VAT of £6.00 (total £36.00) to £150.00 plus VAT of £30.00 (total £180.00)
Deed of Covenant fee (provided by the management company) can be difficult to estimate is often between	£30.00 plus VAT of £6.00 (total £36.00) to £150.00 plus VAT of £30.00 (total £180.00)
Certificate of Compliance fee (to be confirmed upon receipt of the lease) as can range between	£150.00 plus VAT of £30.00 (total £180.00) to £350.00 plus VAT of £70.00 (total £420.00)

These fees vary from property to property and can is some cases be significantly more than the ranges given above. However, we can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will, of course confirm the ground rent and the anticipated service charge as soon as we receive this information.

Our fee assumes that this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) identifying a defect in title and negotiating its remedy prior to completion or the preparation of additional documents ancillary to the main transaction
That this is the assignment of an existing lease and is not the grant of a new lease.
That the transaction is concluded in a timely manner and no unforeseen complications arise.
That all parties to the transaction are co‑operative and there is no unreasonable delay from third parties providing documentation
That no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees and we handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty or Land Tax

This depends on the purchase price of your 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 into your house will depend on a number of factors. The average process takes between 3-5 months.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a buyer with no related sale, purchasing a registered second-hand freehold property and have no mortgage requirements, it could take 6 weeks.

However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer and, in such situations, additional charges may apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

Take your instructions and give you initial advice
Check finances are in place to fund purchase including compliance with source of funds and source of wealth 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)
Request updated source of funds and deposit
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

Please note that the above figures and time estimates provided are purely intended as a guide. Specific estimates for your matter will be provided at the commencement and during the course of your matter.

We’re here for you every step of the way…

If you have any questions about the fees or the process, our friendly and knowledgeable Residential Property team is here to help you move forwards with confidence.

FROME

Senior Associate Chartered Legal Executive