Below you will find various pieces of information about what you can expect to pay if you instruct us to act for you on the purchase of your freehold property and what factors might affect the price that you then pay. Should you choose to instruct us, a tailored estimate of price will be provided based on your circumstances and the transaction and set out in our Engagement Letter.
The day to day work is carried out by Janice Colley, a Consultant Conveyancer and Solicitor, David Dresser, a consultant conveyancer, and supervised by Richard Cramer, Managing Director and Solicitor.
(The prevailing rate of VAT is 20%, however please note that it is subject to change, but we endeavour to provide any updates.)
| Freehold Purchase Costs | Amount (excluding any VAT applicable) |
|---|---|
| Our Legal Fees | Range from £750 and £1800* (plus VAT) |
| Bank Transfer Fee | £30 – £49 (plus VAT) |
| Electronic Identity Check (per name checked) | £10 – £17 (plus VAT) |
| Anticipated Expenses** | |
| Lawyer Check Search | £10 (plus VAT) |
| Land Registry Search Costs (OS1) | £3 (plus VAT) |
| Bankruptcy Search Costs (per name searched) | £2 (plus VAT) |
| Purchase Price of the Property | Our Legal Fees (excluding VAT) |
| Up to £100,000 | £750 – £1,050 |
| £100,000 – £250,000 | £900 – £1,100 |
| £250,000 – £375,000 | £1,050 – £1,250 |
| £375,000 – £500,000 | £1,200 – £1,350 |
| £500,000 – £750,000 | £1,400 – £1,550 |
| £750,000 – £1million | £1,650 – £1,800 |
| In excess of £1million | 0.35% of the price |
** not listed in these expenses or included in our legal fees is:
Stamp Duty Land Tax / Land Transaction Tax
In addition to the above costs, you may also have to pay Stamp Duty Land Tax on your purchase or if the property which you are buying is in Wales, Land Transaction Tax. You can work out what you will need to pay in respect of such tax using one of the following links: Tax Calculator (England) or Tax Calculator (Wales)
Your specific circumstances and those of the individual transaction may alter the amount of tax that you have to pay. Once we have all the necessary information from you, we will be able to make a calculation and let you know the likely amount owed in respect of stamp duty land tax. The amount will be based on the relevant tax rates in force on the day of completion of your purchase (rates do change from time to time, particularly following the budget in October / November each year).
What’s included in this price and what factors might affect what you have to pay?
The above range of figures are based of the purchase of an existing residential freehold property by one or more individuals (as opposed to a company or business partnership) with a title which is already registered at HM Land Registry and with the help of a mortgage from a traditional high street mortgage lender. Most property purchases in England and Wales will fall within this category. The fees include the following work:
Additional work may need to be carried out on your purchase which we are not aware of at the outset but which leads to an increase in our legal fees and/or the third party expenses which you will need to pay. If any such additional costs arise we will tell you about them as soon as possible. Examples of situations that might lead to an increase in costs include:
How long will your freehold property purchase take?
How long it will legally take to buy the property, so from your offer being accepted until you can move in to the property, depends on a number of factors. The average process in England and Wales ordinarily takes between 10 to 12 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 from around four to six weeks.
Key Stages in the Purchase of a Freehold Property
The exact stages involved in the purchase of a residential property vary according to the individual specific circumstances. However, the following are the key stages of a typical transaction:
FRONT ROW LEGAL LTD – 30 October 2023
"Richard Cramer and his team dealt with my breach of contract case efficiently and professionally.
Josh Elliott, Surrey
