PURCHASE OF A FREEHOLD RESIDENTIAL PROPERTY

Our fees cover all the legal 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/SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales

MJP Law’s fees range from £905 + VAT up to £1500.00 + VAT (depending upon the complexity and value of the transaction).  We will always provide you with an individual fee estimate at the outset of the transaction.  There are occasions when we pay a referral fee which will not affect the amount we charge you.

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 transfer and is not a transfer of part or a new build property;
  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 legal fees disbursements may apply if indemnity policies are required.

Our fees cover all the legal 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/SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

Disbursements

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

HM Land Registry fee (apx depending on purchase price) £135.00
Search fees (apx, depending on location) £310.00 inc VAT
Electronic money transfer fee £35.00 + VAT

Stamp Duty or Land Tax

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website SDLT calculator or if the property is located in Wales by using the Welsh Revenue Authority’s website here.

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 6-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, with a mortgage in principle, it could take 10 weeks. However, if you are buying a property that has a title defect, this can take significantly longer, and could be between 3 and 5 months. In such, a situation additional charges would apply and you will be advised of this before any additional work starts

Charlotte Tench

Director & Solicitor

Conveyancing
Bournemouth
01202 582582

Jodi Halkier

Solicitor

Conveyancing
Verwood
01202 823666