istock-1239753049

Support for you

Costs to buy and sell a property

Costs for Buying a Property

Before we commence with any transaction we will provide you with an estimate of the legal fees for your specific transaction.

We will provide you with a fee estimate as for residential conveyancing matters we do not charge on a hourly basis.

Sale Price (£) Legal Fees (£)
1 - 200,000 1500.00 plus VAT at 20%
200,001 - 300,000 1500.00 plus VAT at 20%
300,001 - 400,000 1650.00 plus VAT at 20%
400,001 - 500,000 1650.00 plus VAT at 20%
500,001 - 600,000 1850.00 plus VAT at 20%
600,001 - 700,000 1850.00 plus VAT at 20%
700,001 - 800,000 2000.00 plus VAT at 20%
800,001 - 900,000 2000.00 plus VAT at 20%
900,001 - 1,000,000 2500.00 plus VAT at 20%
1,000,001 - 1,500,000 3,000.00 plus VAT at 20%
1,5000,001 - 2,000.000 4,000.00 plus VAT at 20%
2,000,001 - 15,000,000 4,500 - 15,000.00 plus VAT at 20%

You will also incur a one off bank transfer fee of £30 + VAT at 20%.

The following charges will also apply if relevant to the property you are buying:

  • New Build Property  - £500.00 + VAT at 20%
  • Shared Ownership  - £500.00 + VAT at 20%
  • Leasehold  - £350.00 + VAT at 20%

You will also incur the following payments to third parties (Disbursements):

Searches (approx.)  - £300- £400 + VAT at 20%

Stamp Duty Land Tax:

You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over £125,000 in England and Northern Ireland. VAT is not payable on SDLT for residential properties.

The amount you will pay will depend on the value of the property and your personal circumstances

You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out approximately how much tax you will need to pay.

Land Registration Fee:

All property purchases need to be registered at the Land Registry and they charge a fee for doing this. Their fee is dependent on the value and nature of the title to the property (i.e. higher fees are payable for transfers of part and unregistered titles etc). This fee is not subject to VAT. You are able to work out the exact amount you will be charged via this link to the Land Registry’s fees calculator.

Note; please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely; however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances. We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.

 

Miscellaneous Costs

During the course of the purchase we may also incur some miscellaneous expenses on your behalf.  These include:

Lawyer Checker - £18 plus VAT at 20%

Land Registry Searches - £7 (approx) (No VAT)

Legl Online ID verification -  £20 plus VAT at 20% per person

LMS Fee (a fee that your mortgage lender may impose) - £35 plus VAT at 20%

If you are purchasing a leasehold property, or freehold property with a management company you may also have to pay additional fees such as:

Notice of Transfer and Charge approx. £100 to £400 *

Deed of Covenant Fee approx. £100 to £500 *

Certificate of Compliance fee - £100 to £500 *

* Unfortunately, there is so much variance between management companies we are unable to confirm these fees with any confidence at the outset, but we will advise you of them prior to exchange of contracts.  The fee range provided above is very much an approximation. Whether VAT is payable on these fees will depend on whether the management company is VAT registered.

 

Timescales

How long it will take to exchange and then complete a purchase will vary on a case by case basis.

It will be dependent on a number of factors and some of which might be beyond our control and including for example, the extent of any chain, your mortgage provider and on a leasehold property or a freehold property where service charges are payable, the provision of a Leasehold or a Freehold Sales Information Pack (and more commonly known as a Form LPE1 and Form FME1). Other factors might include and if relevant, an extension to the term of the existing lease and/or a variation to its terms.

Typically, a freehold purchase will take between 6 to 12 weeks and a leasehold purchase between 10 to 14 weeks and from the point at which draft contract papers are received from the Solicitors for the Seller.

These timescales are for guidance only and for the reasons explained, may vary and so be quicker or longer.

Costs for Selling a Property

Before we commence with any transaction we will provide you with an estimate of the legal fees for your specific transaction.

We will provide you with a fee estimate as for residential conveyancing matters we do not charge on a hourly basis.

Property Value (£) Legal Fees (£)
1 - 200,000 1350.00 plus VAT at 20%
200,001 - 300,000 1350.00 plus VAT at 20%
300,001 - 400,000 1550.00 plus VAT at 20%
400,001 - 500,000 1700.00 plus VAT at 20%
500,001 - 600,000 1750.00 plus VAT at 20%
600,001 - 700,000 1750.00 plus VAT at 20%
700,001 - 800,000 1850.00 plus VAT at 20%
800,001 - 900,000 1950.00 plus VAT at 20%
900,001 - 1,000,000 2000.00 plus VAT at 20%
1,000,001 - 1,500,000 3,000.00 plus VAT AT 20%
1,500,001 – 2,000,000 4,000.00 plus VAT at 20%
2,000,001 – 15,000,000 4,500.00.00 - 15,000.00 plus VAT at 20%

You will also incur a one off bank transfer fee of £30 + VAT at 20% for each same day transfer BPE carries out on your behalf i.e. to repay your mortgage and remit the net sale proceeds to you.

If your property is any of the following, the following charges will also apply:

  • Shared Ownership          £200.00 + VAT at 20%
  • Listed Building                  £200.00 + VAT at 20%
  • Leasehold                       £200.00 + VAT at 20%

You will also incur the following payments to third parties (Disbursements):

Copy Documents from HM Land Registry (approx.) £6 - £30 

Please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely, however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances.  We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.

Miscellaneous Costs

During the course of the sale we may also incur some miscellaneous expenses on your behalf.  These include:

Legl Online ID verification -  £20 plus VAT at 20% per person

If you are purchasing a leasehold property, or freehold property with a management company you may also have to pay additional fees such as:

Enquiries fees (LPE1/FME1) – approx. £250 to £600 *

* Unfortunately there is so much variance between management companies we are unable to confirm these fees with any confidence at the outset, but we will advise you of them prior to exchange of contracts.  The fee range provided above is very much an approximation. Whether VAT is payable on these fees will depend on whether the management company is VAT registered.

Timescales

How long it will take to exchange and then complete a sale will vary on a case by case basis.

It will be dependent on a number of factors and some of which might be beyond our control and including for example, the extent of any chain, the Buyer’s mortgage provider and on a leasehold property or a freehold property where communal area charges are payable to a management company, receipt of a Leasehold or a Freehold Sales Information Pack (and more commonly known as a Form LPE1 and Form FME1) from the Managing Agent/Management Company.

On the sale of a leasehold property, other factors might include and if required, an extension to the term of the existing lease and/or a variation to its terms.

Typically, a freehold sale will take between 6 to 12 weeks and a leasehold sale between 10 to 14 weeks and from the point at which draft contract papers are sent to the Solicitors for the Buyer.

These timescales are for guidance only and for the reasons explained, may vary and so be quicker or longer.

 

We have taken all reasonable steps to ensure the price information set out on our website provides an accurate and realistic indication of the costs of obtaining certain legal advice today, but we may update the information at any time in the future.

Whilst we hope this information is helpful as an initial guide, we will provide you with a specific fee proposal and a copy of our standard terms of business when you instruct us to undertake work.

Get in touch

Talk to us about your legal challenges and discover how our expert, pragmatic legal advice and broad commercial acumen can help.