Purchase of a Residential Property
Prices
Our costs information is set out generally below. For a bespoke quote relevant to your exact purchase details (i.e. you will not have to work out the fees from the tables below yourself), please click here and enter your details and we will contact you. Please refer to our privacy policy for details of how we will use any information that you submit via the enquiry form on our website.
Please note that there will be two elements to the costs information set out below:
- Fees charged by Brooke-Taylors Solicitors. These are charged on the basis of fixed fees; and
- Fees payable to third parties.
Please ensure that you consider both parts of the costs information.
Fees charged by Brooke-Taylors Solicitors
| Property Price Range | Legal Fee | VAT (20%) | Total Fee |
|---|---|---|---|
| £0 - £200,000.99 | £825.00 | £165.00 | £990.00 |
| £200,001.00 - £250,000.99 | £962.50 | £192.50 | £1,155.00 |
| £250,001.00 - £300,000.99 | £1,072.50 | £214.50 | £1,287.00 |
| £300,001.00 - £400,000.99 | £1,275.00 | £255.00 | £1,530.00 |
| £400,001.00 - £500,000.99 | £1,550.00 | £310.00 | £1,860.00 |
| £500,001.00 + | 0.32%* | £ | £ |
*Legal fees charged at 0.32% of the property purchase price
| Description of fee | Fee | VAT (20%) | Total fee |
|---|---|---|---|
| If the property is leasehold | £250.00 | £50.00 | £300.00 |
| Help to Buy ISA | £50.00 | £10.00 | £60.00 |
| New building property | £250.00 | £50.00 | £300.00 |
| Bank Telegraphic transfer fee | £10.00 | £2.00 | £12.00 |
Fees payable to third parties (‘Disbursements’)
| Description of Disbursement | Fee | VAT (20%) | Total |
|---|---|---|---|
| Property searches (approx.) | £416.67 | £83.33 | £500.00 |
| Bankruptcy search | £2.56 | £0.64 | £3.20 |
| AP1 registration fee | £5.00 | £1.00 | £6.00 |
| SDLT submission fee | £5.00 | £1.00 | £6.00 |
| OS1 search | £3.50 | £0.70 | £4.20 |
| Verification of funds | £4.00 | £0.80 | £4.80 |
| Electronic ID verification & Anti-money laundering check | £11.25 | £2.25 | £13.50 |
| Anti-money laundering check only | £5.17 | £1.03 | £6.20 |
| eCOS onboarding fee (if applicable) | £6.50 | £1.30 | £7.80 |
| Stamp Duty Land Tax | Dependent on property value and type of buyer you are. Please visit https://www.stampdutycalculator.org.uk/ to calculate your fee. ** | ||
| Land Registry fee | Dependent on property value and property type. Please visit https://www.gov.uk/guidance/hm-land-registry-registration-services-fees to calculate your fee. ** | ||
* The number and nature of searches that you will require may vary depending on the property and/or any mortgage lender.
** We will be able to confirm your exact fee once we have specific information about your purchase.
*** These fees vary from property to property and can sometimes be significantly more than the ranges given. We can give you a more accurate figure once we have sight of your specific documents. You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property.
Work included and key stages
The precise work and stages involved in the purchase of a residential property vary according to the circumstances. However, we have set out the key stages involved in a typical purchase transaction:
- Take your instructions and give you initial advice.
- Check finances are in place to fund the purchase and contact the lender's solicitors if needed.
- Receive and advise on contract documents.
- Carry out searches.
- Make any necessary enquiries of seller's solicitor.
- Give you advice on all documents and information received.
- Go through the conditions of mortgage offer with you.
- Check the title of the property and prepare the document to transfer ownership to you.
- Send the final contract to you for signature and ask you to pay the agreed deposit to us so that contracts can be exchanged.
- Agree a 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 the lender (if applicable) and you.
- Complete purchase.
- Deal with payment of Stamp Duty Land Tax.
- Deal with application for registration at Land Registry.
- Notify you and your lender (if applicable) of registration once confirmed.
Services excluded
Our service will not include any of the following:
- Advice on the value of the property.
- Advice on the suitability of your mortgage or any other financial arrangements.
- A physical inspection of the property.
- Advice on any planning implications unless instructed to do so which may be subject to additional charges.
- Checks on the property to ensure that it has been built in accordance with any planning permissions granted.
- Advice on any search result findings that identify contaminated land, fracking sites, or other environmental issues.
- Advice on tax (other than SDLT) or other accounting matters.
Approximate/average timescales
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. However, the average process takes between eight – twelve weeks from the date you instruct your solicitor.
It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the purchase such as the seller’s solicitors, the solicitors representing other buyers and sellers in the chain, your bank if you are taking out a mortgage, search providers and the relevant local authority to conduct your local search.
Factors that could increase costs
In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:
- If your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property.
- If your lender instructs another conveyancer to act for them.
- If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our firm.
- If a trust document is required.
- If there is a defect in the property title which requires remedying prior to completion.
- If the transaction requires a new lease to be granted rather than an assignment of an existing lease.
- If there are any other complexities to your purchase.
