Freehold Purchase Costs Example

(This is a guide only – please contact us for a free bespoke estimate)

Reading Office:             0118 958 5611
Staines Office:               01784 457655
Tadley Office:               0118 981 2992

Purchase of a Freehold Residential Property (Price £250,000)

The following prices are exclusive of VAT which will be charged in addition, at the prevailing rate, where applicable:-

Rowberry Morris Legal Fees

£895.00 (plus VAT)

Search pack fees (approximately)

£280.00 (includes VAT)

HM Land Registry fee

£135.00 (no VAT)

Stamp Duty Land Tax 

see below

Rowberry Morris Bank Transfer Fee

£40.00 plus VAT

Stamp Duty Land Tax Return Fee

£100.00 plus VAT

Online ID check (per name)

£10.00 plus VAT

ESTIMATED TOTAL (excluding Stamp Duty Land Tax)

£1,460.00 plus £209.00 VAT
(If we also deal with a sale for you there will only be one charge for ID verification)

Stamp Duty Land Tax

The Stamp Duty Land Tax payable on your purchase will depend upon the actual purchase price being paid for the property and also a number of other factors, including whether you already own or have an interest in another property, or if you are a first-time Buyer.

To calculate the Stamp Duty Land Tax payable for your property transaction, the following link can be used :-

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

or for welsh properties, https://beta.gov.wales/land-transaction-tax-calculator

Alternatively, call us to discuss your transaction and we will let you have our assessment of any Stamp Duty liability.

Search Fees

The search fee figure quoted above includes an official Local Authority Search (not a lesser “personal” Search used by some conveyancers), a Water/Drainage Search, an Environmental Search and Chancel Insurance.  Local Authority charges for “Local Searches” do vary significantly from area to area, so we will need to confirm the exact search cost when we know which area you are buying in.  Sometimes, depending upon area, some other searches can be advisable – if so, we will let you know.

Land Registry Fees

The Land Registry fee to be paid on a transaction will be based on the actual price paid for the property.  The fee estimated above is based on the assumption that we can submit the application to Land Registry electronically (as we do in the great majority of cases).  Sometimes this is not possible, when the fee charged by Land Registry will double.

For access to the Land Registry fee scale to calculate the fee which would apply to your transaction, please use the following link:-

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

or just call us and we can confirm the costs.

How long will my house purchase take?

The period of time between your offer being accepted on the property you are looking to purchase and the point at which you can move into your new house will depend on many factors. The average process can take between 6 to 10 weeks.

It can be significantly quicker or slower depending on the parties in “the chain”. For example, if you are a first time buyer, purchasing a vacant property with no title defects, and with your mortgage agreed (if required) it may take 6-8 weeks.  But, if you are buying from someone, who is in turn buying on you will only move as fast as the slowest person in “the chain”.  The estate agent should advise you of all ‘linked’ transactions at the outset.

Stages of the Process

We have listed below some of the key stages which will appear in most transactions:-

  • Take your initial instructions (including your financial arrangements) and deal with regulatory requirements.
  • Receive and check on Contract documents.
  • Apply for usual Searches, (plus others as appropriate).
  • Check planning and building regulation documentation (if required).
  • Make all necessary enquiries of the Seller’s Solicitors on the title and other aspects of the transaction.
  • Provide you with a report on all documents and information received.
  • Arrange to see you to sign the Contract and discuss the transaction or post to you (your preference).
  • Agree a completion date (the date on which you take ownership and possession of the property).
  • Ensure that we have cleared deposit funds in place for exchange of Contracts (where necessary).
  • Exchange Contracts and deal with pre completion matters.
  • Arrange for all monies needed for completion to be received from the mortgage lender and you.
  • Carry out pre completion Searches.
  • Complete the purchase.
  • Payment of Stamp Duty Land Tax.
  • Application for registration at Land Registry.