Residential Conveyancing- Purchases

Our Fees

Our fees cover all of the work required to complete the purchase of your new home. This includes 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.  Our fees vary from property to property so we can give you our most competitive and accurate quote once we have full details of your property. Please feel free to give us a call to discuss at any time where we can provide you with a full and accurate quote according to your circumstances.

Indicative Purchase Costs:

Below are three tables to enable you to calculate an indication of what your fees might be for the purchase of a property. Use the scale from Table A to determine what our costs are, add costs from table B if the property is Leasehold then add the disbursements from Table C. You will need to take into account stamp duty as well as land registry fees as set out below the three tables.

Table A

Conveyancing Costs (calculated on purchase price of property) Costs VAT
Up to £250,000.00 £920.00 £184.00
£250,000.01 to £400,000.00 £975.00 £195.00
£400,000.01 to £600,000.00 £1040.00 £208.00
£600,000.01 to £800,000.00 £1110.00 £222.00
£800,000.01 to £1,000,000.00 £1,210.00 £242.00
Over £1million Contact us Contact us

 

Table B

Leasehold Property Costs VAT
Leasehold Transaction Supplement £200.00 £40.00

 

B: TOTAL FOR LEASEHOLD PROPERTY £240.00

 

Table C

Additional Costs Costs VAT
Inland Revenue SDLT1 form £55.00 £11.00
Stamp Duty See Below See Below
AML Search and admin charge (per person) £6.00 £1.20
HM Land Registry fees (including admin charge for online registration) See Below See Below
Legal Charge for bank CHAPs Transfer £40.00 £8.00
Search Pack (local, enviro & drainage) including admin charge £208.33 £41.67
Land Charges and Land Registry Search £7.00 N/A
TOTALS        £316.33 £62.87

 

C: TOTAL FOR ADDITIONAL COSTS  £378.20

Stamp Duty

The stamp duty or land tax amount payable 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 here.

Land Registration Fee

The land registry fee is calculated on the purchase price of the property. Please see the table below to calculate the land registry fee applicable to your case. The fees below include our admin charge for online registration, if applicable:

0 to £80,000 £40
£80,001 to £100,000 £80
£100,001 to £200,000 £190
£200,001 to £500,000 £270
£500,001 to £1,000,000 £540
£1,000,001 and over £910

Additional Costs

The above is an example of our standard costs, there may be additional costs payable if any of the following apply (all these charges will be subject to the addition of VAT):

Completion fee if matter is completed within 10 working days of exchange: £50.00
Dealing with Unregistered Land: £200.00
Dealing with a Second Charge: £100.00
Transfer of Freehold Share during Leasehold Transaction: £50.00
Buy to Let with Tenant in Situ: £150.00
New Build Supplement: £250.00
Help to Buy Supplement: £250.00
Help to Buy ISA Supplement: £50.00
Property Subject to Solar Panel Lease: £250.00
All transfers of money except CHAPS: £15.00
Review of Auction Pack before Auction: £450.00
Reviewing Lease extension: from £400.00
Deed of Variation: from £400.00

If you are unsure as to whether any of the above apply to your situation please feel free to give us a call to discuss and we can advise further.

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry or search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Occasionally there may be a change in the amounts of the disbursements payable on your behalf, where such changes arise, you will be notified.

If you are buying a Leasehold property there are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease.

Leasehold Fees

Potential Additional Leasehold fees on a purchase (payable to third parties):

  • Notice of Transfer fee – This is the fee payable to the freeholder for giving notice of the transfer of the property into your name. If the fee is chargeable the amount is usually set out in the lease but will be confirmed in the replies given to the Leasehold pack. Often the fee is between £100- £300 plus VAT, once we have the leasehold pack from the freeholder we will be able to advise the amount payable
  • 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 £300 plus VAT.
  • Deed of Covenant fee – This fee is provided by the freeholder/management company for the property and can be difficult to estimate. Often it is between £150 and £250 plus VAT.
  • Certificate of Compliance fee – This is a certificate which confirms that you will comply with the terms in the lease and will allow us to register you as the new proprietor of the property when a restriction has been registered against the title requiring such a certificate. The amount of this is to be confirmed once we receive the leasehold back however the estimated costs can be between £150 and £250 plus VAT.

You should also be aware that with a leasehold property 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.

Please note that the above fees assume 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. if this is a Leasehold purchase then 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 complications 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.

Referral fees

We may pay a referral fee to the agent if they introduced you to us. This does not increase the charge we make to you and our charge to you is the same regardless of whether or not a referral fee is paid. This payment does not in any way affect our independence and integrity and our duty to act in your best interests. This business is not in any way associated with or in partnership with your estate agent or mortgage broker. The amount of the referral fee payable varies depending on the recipient, this is usually between £100 and £200.

How long will my purchase take?

How long it will take from your offer being accepted and Now Legal being instructed until you can move in to your house will depend on a number of factors. The average process takes between 6-8 weeks.

The process can be completed sooner or it may take longer 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 just a few weeks, however, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 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, set out below are the key stages of a transaction:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase
  • Receive contract pack from sellers’ solicitors and report on contract documents, sending contract to you for signing. If the property is leasehold we will advise on the contents of the lease as well as responsibility for payment of ground rent and service charges
  • Carry out searches and report to you on results once received
  • Make any necessary enquiries of seller’s solicitor including requesting any planning documentation not provided if property appears to have been altered
  • Give you advice on all documents and information received, ensure we have received satisfactory replies to all enquiries
  • Report to you on the mortgage offer, highlight mortgage conditions and send you mortgage deed for your signature
  • Ensure that we have all signed documents back from you and you are happy to proceed.
  • Agree completion date (the date when you will receive the keys). This date is usually agreed via the estate agents to ensure that all parties in the chain (whom we cannot have contact with) agree.
  • Obtain your authority to exchange contracts. This has to be done on a daily basis so if we take your authority and cannot exchange on that day we will need to contact you the following day for authority to proceed again.
  • Exchange contracts and notify you that this has happened. Once exchanged you are committed to your purchase of the property.
  • Pre-completion searches undertaken at the land registry
  • Provide you with a final statement of account showing the balance due from you in order to complete and asking you to make payment of the balance due to us no later than the day before completion
  • Request monies from your mortgage lender for completion, usually requested the day before completion
  • Complete purchase, transfer monies to sellers’ solicitors and contact you once completed so that you can go and collect the keys
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry
  • Forward to you and your lender proof of the property being registered into your name

The Conveyancing Team

Our team has many decades of collective experience in delivering high quality work in all matters relating to Residential Conveyancing.

Contact details of the individuals dealing with your case can be found on our “Meet the Team” page. Supervision of the individuals undertaking the work will be carried out by the Partners.

Please see details of the property team including supervisors below:

Mark Soulsby:

Mark is the Managing Partner of Now Legal. Mark became a Partner (SRA approved Manager) at Now Legal in 2018.

Mark has a vast experience in all areas of Residential Conveyancing, specialising in this field since he joined the firm in 2010. In addition to his management duties Mark carries a Conveyancing caseload and supervises a residential conveyancing team.

Jade Walford:

Jade joined Now Legal in 2009 as a placement student. Jade completed her training contract here and qualified as a Solicitor in 2014, becoming a Partner in 2017. Jade deals with all aspects of Residential Conveyancing and supervises a team.

Amerjit Khela:

Amerjit joined Now Legal in 2007. Amerjit undertook her training contract through Now Legal and qualified as a Solicitor in 2009. Amerjit was made a Partner in 2017. Amerjit has vast experience in all areas of Residential Conveyancing.

Yvonne Stephenson:

Yvonne qualified as a solicitor in South Africa in 1992 then moved to England and re-qualified here in June 2010. Yvonne joined Now Legal in 2014 and specialises in Residential and Commercial Property together with some Corporate Law. Yvonne was made a Partner of Now Legal in 2017.

Claire Jewell:

Claire qualified as a solicitor in 2006 and joined Now Legal in 2009 becoming a Partner in October 2009. Claire has 17 years experience in Residential Conveyancing and provides in house cover when other fee earners are off.

Victoria Kirby:

Victoria completed her Law degree in 2007 and subsequently worked in financial services prior to completing her Masters and the Legal Practice Course. Victoria joined the Residential Conveyancing Department in Now Legal in August 2018 and deals with all aspects of Conveyancing. Victoria completed her Training Contract at Now Legal, qualifying as a Solicitor in September 2020.

Sallie-Ann Lelouet:

Sallie-Ann joined Now Legal in 2014. Sallie-Ann has 30 years experience in Residential Conveyancing. Sallie-Ann deals with many elderly clients who require home visits and prides herself on making the conveyancing process less stressful for such clients putting their minds at rest in what can be stressful times.

Paul Gledstone:

Paul joined Now Legal in 2014 and has 30 years experience in Residential Conveyancing. Paul enjoys getting out and about and regularly goes over to the Isle of Wight to meet with clients.

Terrie McCutcheon:

Terrie joined Now Legal in 2017. Terrie is an experienced Residential Conveyancer providing a professional service with a personal touch. Terrie deals with all aspects of Residential Conveyancing

Michelle Glide:

Michelle joined Now Legal in January 2018. Michelle has worked in Residential Conveyancing since 2009. She started in the field as an assistant before being promoted to a Conveyancer. Michelle handles her own caseload along with the aid of an assistant. Michelle deals with all Residential Conveyancing matters.

Sonia Yick:

Sonia joined Now Legal in 2016 as an assistant and has progressed to become a fee earner in our Residential Conveyancing department. Sonia has completed her Legal Practice Course and is currently conducting her Training Contract with a view to fully qualifying as a solicitor in 2021. In addition to residential conveyancing Sonia also works on Commercial Conveyancing and Employment matters.