The fee information shown is relative to the properties listed in the examples. This is to give you an indication of the costs involved in the sale and purchase of your property. We used £250,000.00 as an average property price in Bournemouth. We deal with the sale and purchase of freehold and leasehold homes within all of England and Wales and not just Bournemouth. For a detailed quote relative to your property for your circumstances then please do not hesitate to contact us for further information about fees or our conveyancing service.
Example 1: Purchase of a freehold residential property in Bournemouth for £250000.00
Our fees cover all of the 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) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
- Our fees for the purchase £995.00
- Our fees for completing SDLT1 return £75.00
- Our fees for the electronic money transfer £30.00
- VAT payable £220.00
Disbursements
- Bankruptcy Search Fee £3.30
- Environmental Search Fee £57.12
- Water and Drainage Search fee £72.6
- Local Search fees (Bournemouth Borough Council) £109.90
- HM Land Registry fee £150.00
- Official Search on your purchase £4.50
- SDLT Submission fee on your purchase £9.6
- Stamp Duty Land Tax £0.00
- Electronic AML Search £7.20
Estimated total: £1741.42.12
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website 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 12 to 24 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 8 to 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 15 and 30 weeks.
*The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are key stages of the process:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree 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 lender and you
- Complete purchase
- Deal with payment of Stamp Duty Land Tax
- Deal with application for registration at Land Registry
*Our fee assumes that:
- this is a standard transaction with the property being held under one single title 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 existing property and is not a new build
- the transaction is concluded in a timely manner and no unforeseen complication arise
- one contract is submitted to one purchaser
- the purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession
Example 2: Purchase of a leasehold residential property for £250,000.00 in Bournemouth
Our fees cover all the 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) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.
- Our fees for the purchase £1150.00
- Our fees for completing SDLT1 return £75.00
- Our fees for the electronic money transfer £30.00
- VAT payable £251.00
Disbursements
- Bankruptcy Search on your purchase £3.30
- Environmental Search on your purchase £57.12
- Water and Drainage Search on your purchase £72.60
- HM Land Registry fee £150.00
- Local Search (Bournemouth Borough Council) £109.90
- Official Search on your purchase £4.50
- Stamp Duty Land Tax £0.00
- SDLT Submission Fee £9.60
- Electronic AML Search £7.20
Estimated total: £2070.22
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
Other leasehold disbursement costs***
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £90.00 to £125.00.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £90.00 and £125.00.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 and £150.00.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £90.00 – £120.00.
***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 of all the fees once we have reviewed your properties lease.
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.
Stamp Duty 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 or if the property is located in Wales by using the Welsh Revenue Authority’s website.
Stages of the process
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer
- Send final contract to you for signature
- Draft Transfer
- Advise you on joint ownership
- Obtain pre-completion searches
- Agree 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 lender and you
- Complete purchase
- Deal with payment of Stamp Duty Land Tax
- Deal with application for registration at Land Registry
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 12 to 24 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 12 to 24 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 15 and 30 weeks.
.
** Our fee assumes that:
- this is a standard transaction with the property being held under one single title 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
- one contract is submitted to one purchaser
- the purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession
- 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 fees may apply if indemnity policies are required.
Example 3: Sale of a freehold residential property for £250,000.00 in Bournemouth.
Our fees cover all of the work***** required to complete the sale of your home.
- Our legal fee £945.00
- Our fees for the electronic money transfer £30.00
- Official copies of your sale £7.20
- VAT payable £185.00
Estimated total: £1193.40
How long will my house sale 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 e.g. length of chain and other properties involved. The average process takes between 12 to 24 weeks.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. We have listed some key stages which may be in the house sale process:
- Take your instructions and give you initial advice
- Send you the initial sale forms to complete
- Preparing and sending the contract and supporting documents to the purchasers solicitor
- Obtain further documentation if required
- Respond to any enquiries from the purchaser’s solicitor
- Send final contract to you for signature
- Agree completion date (date from which you do not own the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Repay any mortgage on the property
- Distribute the proceeds of the sale as required
Example 4: Sale of a leasehold residential property for £250,000.00 in Bournemouth
Our fees cover all the work***** required to complete the sale of your new home, i
- Our legal fees for the sale £1045.00
- Our fees for the electronic money transfer £30.00
- Managing Agents fees for replying to enquiries (estimated) £350.00
- Official Copies on your sale £14.40
- VAT payable £205.00
Estimated total: £1672.40
How long will my house sale 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 12 to 24 weeks. It can be quicker or slower, depending on the parties in the chain
Stages of the process
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, we have listed some key stages of the transaction:
- Take your instructions and give you initial advice
- Sending you the initial sale forms to complete
- Preparing and sending the contract and supporting documents to the purchasers solicitor
- Obtain further documentation if required including the managing agents pack of information
- Respond to any enquiries from the purchaser’s solicitor
- Send final contract to you for signature
- Agree completion date (date from which you do not own the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Repay any mortgage on the property
- Distribute the proceeds of the sale as required
***** Our fee assumes that:
- this is a standard transaction held under a single title at the Land Registry and that no unforeseen matters arise including for example (but not limited to) a defect in title including deeds of variation to leases 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
- one contract is submitted to one purchaser
- the sale will be on the basis on an unconditional contract and the property is sold with vacant possession
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Example 5: Remortgage of a property
Our fees cover all of the work* required to remortgage your freehold home
- Our fees for the remortgage £450.00-650.00 plus VAT
- Our fees for the electronic money transfer £30.00 plus VAT
- VAT payable £96.00-136.00
Disbursements
- Land Registry and Bankruptcy Search £10.00
- Local Search £150.00
- Land Registry Fee £40.00 – £80.00
Estimated total: £ 776.00 – £1056.00
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
How long will my remortgage take?
The average process takes between 12 to 24 weeks.
Stages of the process
The precise stages involved in the remortgage of a residential property vary according to the circumstances. However, below are some key stages of the process:
- Take your instructions and give you initial advice
- Check finances are in place to fund remortgage and redeem existing mortgage
- Receive and advise on mortgage offer
- Carry out searches
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final documents to you for signature
- Agree completion date
- Arrange for all monies needed to be received from lender and you
- Complete remortgage and redeem existing mortgage
- Deal with application for registration at Land Registry
*Our fee assumes that:
- this is a standard transaction with the property being held under one single title 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
- the transaction is concluded in a timely manner and no unforeseen complication arise
- this is a property occupied by you, or is vacant and not already let under a tenancy agreement
The fee information shown is relative to the properties listed in the examples. This is to give you an indication of the costs involved in the sale and purchase of your property. We deal with the sale and purchase of freehold and leasehold homes within all of England and Wales and not just Bournemouth. For a detailed quote relative to your property for your circumstances then please do not hesitate to contact us for further information.