Kidderminster | 01562 822 295
Stourport | 01299 822 033

Legal Fee Information - Purchase of a Residential Property

Kidderminster Office

29 Church Street, Kidderminster,
Worcestershire, DY10 2AU

 01562 822295

Stourport Office

1 New Street, Stourport-on Severn
Worcestershire, DY13 8UN

 01299 822033

Talk to a Solicitor

Purchase of a Residential Property

 

Our fees cover all of the work required to complete the purchase of your property, 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 is in Wales.

Our standard legal fees for a residential freehold purchase are based on the property’s value and are outlined in the scale below.

 

Property Price Fee
Up to £100,000 £800.00 plus VAT (£960.00 inc VAT)
£100,001 – £175,000 £850.00 plus VAT (£1,020.00 inc VAT)
£175,001 – £250,000 £975.00 plus VAT (£1,170.00 inc VAT)
£250,001 – £300,000 £1,005.00 plus VAT (£1,260.00 inc VAT)
£300,001 – £400,000 £1,125.00 plus VAT (£1,350.00 inc VAT)
£400,001 – £500,000 £1,200.00 plus VAT (£1,440.00 inc VAT)
£500,001 – £600,000 £1,300.00 plus VAT (£1,560.00 inc VAT)
£600,001 – £700,000 £1,400.00 plus VAT (£1,680.00 inc VAT)
£700,001 – £800,000 £1,500.00 plus VAT (£1,800.00 inc VAT)
£800,001 – £900,000 £1,600.00 plus VAT (£1,920.00 inc VAT)
£900,001 – £1,000,000 £1,700.00 plus VAT (£2,040.00 inc VAT)

 

VAT will be added at the current rate (presently 20%)

For properties over £1,000,000.00 please contact us for a bespoke quotation.

  • We charge a £20.83 + VAT (£25 Inc. VAT) TT fee
  • Our add on for Leasehold sales/purchases is £150 +VAT (£180.00 inc VAT)
  • Our standard search bundle (local search, water and drainage search, environmental search and chancel indemnity) costs £169.39
  • The value of the property and any complexities of the purchase will dictate the final fee charged within this range.
  • VAT will be payable on our fees and some disbursements and we will clearly confirm which disbursements carry VAT in our formal quotation or as we advise you to incur them.
  • If at any stage our fees change, we will notify you and discuss the reason for any changes. This would typically occur if you change your instructions or your case involves an unforeseen complexity.

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 here.

 

Our 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. For Leasehold matters 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.

Disbursements and Other Costs

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

You will be provided with a full list of disbursements in our formal quotation.  If you need to incur any further disbursements during your case, you will be notified in advance of the reason and the amount.

Stamp Duty Land Tax

The 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.

How long will my property purchase take?

How long it will take from your offer being accepted until completion will depend on a number of factors. The average process takes between 12-16 weeks.

It can be quicker or slower, depending on a number of factors and we will notify you if we believe your transaction may take longer than average or if something occurs in your case to extend the transaction time.

Questions

If you have any questions relating to our services or our fees, please contact us today.

 

Get In Touch

For expert legal advice or if you would like to arrange an appointment with one of our solicitors, please call: Kidderminster 01562 822295, Stourport 01299 822033 or make an online enquiry and one of our team will be in touch.