Residential Purchases
When we act for you on a purchase, we transfer ownership of the home into your name and help you work out whether it’s a sound buy. If you’re borrowing to fund it, we’ll deal with your mortgage too.
What will it cost?
Our legal fees for a purchase usually depend on the price of the property. Some purchases are more complex, and the overall cost may be higher than the estimates listed; if that’s the case, the lawyer dealing with it will tell you in writing before you commit. VAT is charged at 20%.
Some purchases naturally cost more because of the extra work involved, including:
- Leasehold property
- New build property purchases
- Shared Ownership or First Homes Scheme property purchases
- Retirement leases
Estimate the cost of your sale
Answer a few short questions and we will show you an approximate cost for selling your property, with no obligation.
Are there any hidden costs or disbursements?
We’ll always be upfront about our fees at the start. Disbursements aren’t always known at the outset. For example, you may need an indemnity policy to cover alterations to the property or a defect in the title, and the exact cost of that won’t be clear until later. Common disbursements you can expect include payments to Land Registry for pre-completion searches.
What work is included?
Every purchase is different, but our work usually includes:
- Taking your initial instructions and advising you on the various aspects
- Receiving contract documents and investigating the title, reviewing the documents and asking the seller’s lawyer further questions (enquiries) as needed
- Making searches and checking the results
- Receiving a mortgage offer
- Reporting to you on all our investigations and any mortgage
- Getting your signature on the documentation
- Exchanging contracts
- Working out the completion figures, requesting funds and carrying out final searches
- Completing, then paying any Stamp Duty Land Tax and registering your property at the Land Registry
Is there anything not included?
Our costs cover the work usually needed to complete the purchase of a home. Other parts of buying, such as arranging removals or updating your Will, aren’t included. If you need extra legal services (for example, a Declaration of Trust setting out shares of ownership), we’ll charge for those separately. You can read about the other residential property services we offer on our Residential Conveyancing page.
How long will it take?
Plenty of things affect the speed, especially the chain of buyers and sellers. As a rough average, allow 12 to 16 weeks to exchange, with a week or two between exchange and completion, though that can be misleading. The shorter the chain, the quicker it’s likely to go, although other factors may delay a transaction. A lot depends on third parties too, including search providers, local authorities, mortgage brokers and lenders, surveyors, and the seller and their lawyer.
Buying a home is a big commitment, so you’ll never be left guessing what a search has turned up or what happens next.
Some purchases are straightforward: a freehold house with a mortgage and a cooperative seller. Others need more care, like a new build with a developer’s deadline, or a first purchase where every step is unfamiliar. Wherever you are, we’ll guide you through it.
If you’re not sure which of these fits your situation, call us, and we’ll point you in the right direction.
