Sale and Purchase

GHP Legal’s estimated fees for the sale of a residential property

Our fees aim to cover all of the work required to complete the sale of your new home, including dealing with enquiries and redeeming any charge on your behalf out of the sale proceeds.

Estimated fees and disbursements

 

 Cost

VAT

Total

Up to £150,000

£800.00

£160.00

£960.00

£150,001 - £250.000

£850.00

£170.00

£1020.00

£250,001 - £500,000

£900.00

£180.00

£1080.00

£500,001 - £750,000

£950.00

£190.00

£1140.00

£750,000 and over

£1000.00

£200.00

£1200.00

 

 

 

 

Additions for:

 

 

 

Unregistered

£100.00

£20.00

£120.00

Divorced/separated parties including distribution of assets

£150.00

£30.00

£180.00

Help to Buy to redeem

£250.00

£30.00

£180.00

Shared ownership/Housing Association

£200.00

£40.00

£240.00

Expedited transaction

£100.00

£20.00

£120.00

Leasehold

 £150

£30 

£180 

Official Copy Entries and Plan  (estimate dependant on amount of copy documentation required) £3 each copy.

£12.00

 £2.40

£14.40

Index Map Search

£3.00

£0.60

£3.60

Legal Charge Act Search (£2.00 per name)

£2.00

£0.40

£2.40

Bank Transfer Fee

£25.00

 £5.00

£30.00

Lawyer Checker

£12.00

 £2.40

£14.40

AML Search (per person)

£10

£2

£12

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.

 

For leasehold sales you may be expected to purchase the Management Company pack which costs in the region of £150.00 - £400.00 (inc VAT) depending on the managing agent and would need to be paid up front by yourselves.

How long will my house sale take?

How long your house sale 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 6-12 weeks.

It can be quicker or slower, depending on the parties in the chain.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have suggested some key stages:

  • Take your instructions and give you initial advice
  • Prepare and forward contract documents to the buyers solicitors
  • Assist in any enquiries raised by the buyer’s solicitors
  • Give you advice on all documents and information received
  • 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 paid to agents and any mortgage if applicable
  • Complete sale

 

GHP Legal’s estimated fees for the purchase of a residential property

Our fees aim to cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with 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.

Estimated fees and disbursements

 

Costs

VAT

Total

£0 - £150,000

£850.00

£170.00

£1020.00

£150,001 - £250,000

£950.00

£190.00

£1140.00

£250,001 - £500,000

£1000.00

£200.00

£1200.00

£500,001 - £750,000

£1100.00

£220.00

£1320.00

£750.000 and over

£1,200.00

£240.00

£1440.00

 Additions for:

 

 

 

Leasehold

£150

£30

£180

Unregistered

£100.00

£20.00

£120

Joint tenancy/equal/unequal shares – Declaration of Trust required

£150.00

£25.00

£150.00

Gift of funds from parents

£75.00

£10.00

£60.00

Loan from Parents

£100.00

£20.00

£120.00

Help To Buy ISA

£50

£10

£60

Help to Buy – Equity Mortgage

£250.00 -£275.00

£50.00 - £55.00

£300 - £330

Shared ownership/Housing Association

£250.00 - £275.00

£50.00 - £55.00

£300 - £330

Expedited transaction

£100.00

£20.00

£120.00

New Build

£250.00 - £300.00

£50.00 - £60.00

£250 - £360

Searches (estimated)

 

 

£320

Chancel Indemnity – up to £250K thereafter provide a quotation.

 

 

£15.00

Bank Transfer Fee

 £25.00

 £5.00

£30.00

Lawyer Checker

 £12.00

 £2.40

£14.40

Bankruptcy Search (per person)

 £2.00

 £0.40

£2.40

Search with priority (per title number)

 £3.00

 £0.60

£3.60

Company Conveyancing Search (if required)

£22.00

4.40

£26.40

AML Search (per person)

£10.00

£2.00

£12.00

Land Registry Fee

 Visit HMLR Website for further details.

Stamp Duty (SDLT) or Land Tax

Further details can be found here.

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.

Leasehold Disbursements

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100-£250 plus VAT. (£120-£300 with VAT)
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100 and £250 plus VAT. (£120-£300 with VAT)
  • 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 and £250 plus VAT. (£60-£300 with VAT)
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50 and £250 plus VAT. (£60-£300 with VAT)

*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 charge 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.

 

Stamp Duty or Land Tax (on purchase)

The level of tax which you will be required to pay upon your purchase will  depend upon 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 here.

How long will my house purchase take?

How long your house purchase 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 8 - 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 5 months. In such, a situation additional charges would apply.  

*Our fee assumes that:

1. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction

2. this is the assignment of an existing lease and is not the grant of a new lease

3. the transaction is concluded in a timely manner and no unforeseen complication arise

4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required. 

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 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

Our Team

To find out more about our team, their experience and qualifications of those who may be working on your matter. Click Here.

 

Richard Lloyd

Richard Lloyd

Partner

Our Senior Partner and Head of the Property team in Oswestry

Wendy Marles

Wendy Marles

Senior Solicitor

Part of our Conveyancing team in Wrexham