Freehold and Leasehold Sales and Purchases Mortgages and Re-Mortgages - Homes and Small Business

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 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.

Conveyancer's fees and disbursements

All costs and disbursements below are shown inclusive of VAT.

Legal fees for a purchase will range from:

Freehold up to £100,000 Freehold up to £450,000 Above £450,000
£630* £1050* Please contact us for a quote
  • On a sale up to date Official Copy Register Entries from £6.00.
  • Search fees £250 - £500 depending on the number of searches required.
  • HM Land Registry fee is based on the value of the property and whether the property is registered with HM Land Registry or will be produced for first registration upon purchase.  Fees range from £20 to £270.  Please refer to HM Land Registry website for fee information www.gov.uk/government/collections/fees-hm-land-registry-guides    
  • Electronic money transfer fee £36 per transfer.
  • ID Verification £24.00.
  • Stamp duty land tax will depend on the transaction. 
    Please refer to HMRC website for more information www.gov.uk/stamp-duty-land-tax or for properties in Wales the Welsh Revenue Authority’s website.

If you purchase with a mortgage please add £210 and if the property is New Build please add £200 If we redeem a mortgage on sale of your property please add £200.

If your purchase is of a leasehold property please add £180.00.

If your purchase is of unregistered land please add £200.

We do not charge for completing and submitting Stamp Duty Land Tax Returns.

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.

Disbursements for a leasehold property sale or purchase Anticipated Disbursements*

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. These vary between landlords and or management companies and you will be notified of it as early as possible in the purchase process.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease.  
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease.

*You will always be given a written estimate which will be as accurate as it can be given the information that we are provided with at the beginning of the transaction.  Should eventualities arise that are likely to increase the cost to you of your purchase you will be notified immediately.  For property with higher value please contact us on 01493 855676 for our Great Yarmouth Office or 02502 582338 for our Lowestoft Office.  Or E-Mail info@hkbw.co.uk.

How long will my house purchase take?

How long it 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 - 8 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 to exchange contracts. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 5 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 that you may wish to include:

  • 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 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. 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.

 

Remortgage

Fixed fee for a remortgage of your property £420 inclusive of VAT plus disbursements.

Land Registry search before completion £3.

Bankruptcy Search £2 per name.

HM Land Registry Fee based on the value of the mortgage.

This fixed fee also assumes that it is a standard remortgage of a registered title.