Real Estate Fees
Home > Expertise > Real Estate > Real Estate Fees
For sales and purchases of single properties from Dec 2024
Home value |
Freehold |
---|---|
Up to £100K |
£1100 |
£100K to £200K |
£1200 |
£200K to £300K |
£1,270 |
£300K to £400K |
£1,340 |
£400K to £500K |
£1,430 |
£500 to £600K |
£1,640 |
£600 to £700K |
£1,720 |
£700K to £800K |
£1,910 |
£800K to £900K |
£2,030 |
£1m+ |
£2,430 |
£2M+ |
£3000 |
£3M + fee = 0.33% |
- Additional leasehold fee £250 (existing lease) or additional new lease fee £350
- New build freehold additional fee purchase £150
- Additional high rise fee £75
- Additional Help to Buy fee £75
- Additional shared ownership fee/staircasing fee £150
All figures exclusive of VAT
PURCHASES
Our fees cover all of the work* required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
Disbursements
- Bank fee – our fee for sending money on your behalf £50 plus VAT
- Portal fees for lodging SDLT and applying to the land registry £12
- Lawyer bank check £15 (purchases only)
- Portal fees for checking your ID and source of funds – around £25 per person
- Search fees £400 approximately (purchases only)
- HM Land Registry fee – see table below. (purchases only)
Header Col 1 |
Header Col 2 |
Header Col 3 |
---|---|---|
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 |
£1105 |
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty or Land Tax (on purchase)
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 for your offer to be accepted until you can move into your house will depend on a number of factors. The average process takes between 4-6 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would 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
- Take your instructions and give your initial advic
- 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 the seller's solicito
- Give you advice on all documents and information received
- Go through the conditions of the mortgage offer with you
- Send the final contract to you for signature
- Agree on completion date (the 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 the lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Please note that with leasehold purchases there may be additional costs.
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50-£200
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50-£200
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50-£250
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50-£250
These fees vary from property to property and can on occasion be significantly more than the ranges given above. 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 charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Our fee assumes that:
- This is a standard transaction and no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying before completion or the preparation of additional documents ancillary to the main transaction
- The transaction is concluded promptly and no unforeseen complications arise
- All parties to the transaction are cooperative and there is no unreasonable delay from third parties providing documentation
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.