Introduction
Our Legal 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.
Legal Fees
Legal Fees is the amount you will be required to pay for all of the work performed by us in actioning your instructions, from commencement of your case to conclusion.
Sale Price | Proposed Fee | VAT | Total | Additional Fee |
£0 to £250,000 | £ 1,100.00 | £ 220.00 | £ 1,320.00 | |
£250,001 to £400,000 | £ 1,200.00 | £ 240.00 | £ 1,440.00 | |
£400,001 to £500,000 | £ 1,300.00 | £ 260.00 | £ 1,560.00 | |
£500,001 to £600,000 | £ 1,400.00 | £ 280.00 | £ 1,680.00 | |
£600,001 to £700,000 | £ 1,500.00 | £ 300.00 | £ 1,800.00 | |
£701,000 to £999,999 | £ 1,600.00 | £ 320.00 | £ 1,920.00 | |
£1,000,000 to £1,500,000 | £ 2,150.00 | £ 430.00 | £ 2,580.00 | |
£1,500,001 + | £ 2,750.00 | £ 550.00 | £ 3,300.00 | 0.1% of Purchase Price |
Administrative Fees
If at any stage our fees change, we will notify you and discuss the reason for any changes. This would typically occur if you change your instructions or your case involves an unforeseen complexity.
Our average fees assume that:
Expenses and Recharges
These fee’s are estimates and may vary on the final bill.
Disbursements and Other Costs
Additional Fee’s | Amount | VAT | Total | Additional Fee/Notes |
Lender Fee | £ 100.00 | £ 20.00 | £ 120.00 | |
Leasehold Fee | £ 150.00 | £ 30.00 | £ 180.00 | |
Bank Transfer Fee’s | £ 55.00 | £ 11.00 | £ 66.00 | |
Managing Agent | £ 150.00 | £ 30.00 | £ 180.00 | |
Adding Charge | £ 450.00 | £ 90.00 | £ 540.00 | |
Removal of Restriction | £ 350.00 | £ 70.00 | £ 420.00 | |
Auction Park | £ 950.00 | £ 190.00 | £ 1,140.00 | Price may rise depending on property value |
LPE1 | £ 300.00 | £ 60.00 | £ 360.00 | |
Corporate Client Fee | £ 250.00 | £ 50.00 | £ 300.00 | |
Expidite Fee | £ 250.00 | £ 50.00 | £ 300.00 | |
Gift Fee | £ 250.00 | £ 50.00 | £ 300.00 | Per gift |
Loan Agreement for Charge | £ 850.00 | £ 170.00 | £ 1,020.00 | |
2nd Firm Fee | £ 250.00 | £ 50.00 | £ 300.00 | |
ILA | £ 500.00 | £ 100.00 | £ 600.00 | Expedited Fee + £200 plus VAT |
Indemnity Fee > £500,000 | £ 55.00 | £ 11.00 | £ 66.00 | |
Indemnity Fee < £500,000 | £ 45.00 | £ 9.00 | £ 54.00 |
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.
You will be provided with a full list of disbursements in our formal quotation. If you need to incur any further disbursements during your case, you will be notified in advance of the reason and the amount.
Typical disbursements will include: –
Search fees will vary from council to council but would approximately cost £300.
Stamp Duty or Land Tax (on purchase)
This amount payable depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website.
How long will my property purchase take?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors.
It can be quicker or slower, depending on a number of factors and we will notify you if we believe your transaction may take longer than average or if something occurs in your case to extend the transaction time we will inform you.
If you are buying a leasehold property that requires an extension of the lease, this can take longer. In such a situation, additional charges would apply and we will notify you of the additional charges and time estimate when we have engaged the landlord to discuss the extension.
Stages of the Process
The precise stages involved in the purchase of a residential property vary according to the circumstances. We have set out the key stages of a standard transaction: –
Other Factors
Other Factors to consider which may affect your Legal Fees and disbursements are:
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 we receive this information.
Fee Earners
The following fee earners handle Residential Property matters:
Questions
If you have any questions relating to our services and our fees, please contact us on 0208 175 6733 or email us at enquiries@crownlawsolicitors.com