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Telephone: 01904 623751 

Email: enquiries@mitchellssolicitors.co.uk

"Traditional Values - up-to-date knowledge"

Legal Costs when buying a home

Purchase price Freehold VAT Leasehold VAT
Up to 100,000 450.00 90.00 550.00 110.00
100,001 - 200,000 550.00 110.00 650.00 130.00
200,001 - 500,000 600.00 120.00 750.00 150.00
500,001 - 750,000 700.00 140.00 850.00 170.00
750,001 - 1,000,000 850.00 170.00 1,000.00 200.00
1,000,001 - 2,000,000 1,000.00 200.00 1,250.00 250.00

NB Please add VAT as shown to our costs, e.g. on a freehold purchase of £300,000 our costs are £600.00 plus VAT of £120.00 = £720.00 plus the disbursements listed below of £265.20 making a total of £985.20. In addition the Land Registry fee and the Stamp Duty need to be added to the costs. In our current example if the title is registered the Land Registry fee will be £135 and the Stamp Duty will be £5,000 (making a total of £6,120.20 in our example) where the purchaser is not a first time buyer and is purchasing their own home. Please see the sections below headed Land Registry fee and Stamp Duty for more information.

Disbursements

These are additional costs incurred to third parties during the transaction:

Lawyer Check£12.00
AML Search (per name)£7.20
Bank transfer fee£30.00
Searches£211.00
HM Land Registry Search fee£3.00
Bankruptcy Search (per name)£2.00

Land Registry fee

It is compulsory to register your new title at the Land Registry. Land Registry fees vary between £20-£910. The amount payable depends on your purchase price and whether or not the property you are buying is already registered. You can check the fee payable at http://landregistry.data.gov.uk/fees-calculator.html click ‘chose application type’ then click ‘transfer of whole’ for value, click select and then insert the purchase price in the box marked ‘transaction value’. This will tell you the amount of the Land Registry fee if the title is registered chose the electronic fee if it is unregistered chose the standard fee. Some properties if they have not changed owners for many years may be first registrations. If you know the property that you are purchasing is a first registration repeat the process above but chose the standard fee. At the beginning of a transaction it might not be clear whether the property is registered or not for more information please refer to us. For example: On a purchase of £300,000 where the property is registered the Land Registry will be £135. If the property is unregistered then the fee is £270. If you have any queries please call for a quote we will be happy to help.

Stamp Duty

To this figure you need to add the Stamp Duty. This will depend on your purchase price and whether or not you are a first time buyer and/or whether you are a second home-owner or not. You can calculate the amount you need to pay by using HMRC’s website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or you can just ask us to confirm it for you in a written quote. On a purchase of £300,000 the Stamp Duty is £5,000 where the purchaser is not a first time buyer but is not purchasing a second property, i.e. they are buying a replacement home. In this example if the purchaser was a first time buyer the Stamp Duty payable would be nil and if the property was an additional home the Stamp Duty would be £14,000.

Leasehold anticipated additional disbursements

Notice of transfer fee – if required under the Lease.£30.00 - £250 (plus VAT)
Notice of charge fee£40.00 - £250 (plus VAT)
Deed of Covenant fee£100 – £400 (plus VAT)
Certificate of compliance fee£100 - £500 (plus VAT)
Office copies – Leasehold£12.00

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.

Extra costs will be incurred if for example the legal title is defective or if the property or part of it is unregistered if crucial documents are missing if we need to obtain copy building regulations and/or planning permission or for a shared ownership purchase, purchasers under the help to buy scheme and first registrations of unregistered titles. Please request a quote.

Our fee assumes that:

  • 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
  • this is the assignment of an existing lease and is not the grant of a new lease
  • the transaction is concluded in a timely manner and no unforeseen complication arise
  • all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.