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Residential Purchase Fees

Residential Purchase

Please note that Soma Solicitors is accredited under the Law Society’s, Conveyancing Quality Scheme which provides a recognised quality standard for all residential conveyancing practices. Further our solicitors have excess of 25 years’ experience dealing with property transaction and so you can rest assured that you are well looked after.

Residential Purchase (Freehold)

Please note below our indicative costs with respect to a residential freehold purchase.

Property Price Legal Fees 
Up to £250,000 £500.00 plus VAT
£250,001 – £500,000 £600.00 plus VAT
£500,001 – £750,000 750.00 plus VAT
£750,001 – £1,000,000 900.00 plus VAT
Over £1,000,000 Please telephone 020 8423 0203 for a tailored quote

 

Residential Purchase (Leasehold)

Please note below our indicative costs with respect to a residential leasehold purchase.

Property Price Legal Fees 
Up to £250,000 £600.00 plus VAT
£250,001 – £500,000 £750.00 plus VAT
£500,001 – £750,000 £900.00 plus VAT
£750,001 – £1,000,000 £1,250.00 plus VAT
Over £1,000,000 Please telephone 020 8423 0203 for a tailored quote

 

Please note that our fees mentioned above are based on a standard transaction and on the basis that no unforeseen matters are to rise. Which includes but is not limited to any defective title that is required to be remedied or with respect to preparing any further documentations which are to be ancillary to the transaction. However before incurring any any additional charges we will advise you of the same.

Disbursements

Please note that disbursements are to be paid in addition to our legal fees, which are merely charged for our services. The majority of these disbursements are set by third parties and thus out of our control to advise on an exact figure.

Disbursements  Estimate Cost 
Bank Transfer Fee (Per Transfer) £25.00 plus VAT
Land Registry searches £3.00 – OS1/OS2

£2.00 – (K17) Bankruptcy Search

Land Registry Fee This varies on the value of the property. For further information, please contact us or alternatively visit; https://www.gov.uk/guidance /hm-land-registry-registration-services-fees
Searches £200.00 (Approximately)
Stamp Duty This varies dependent on the individual purchasing the property and on the price of the property. If stamp duty is applicable, you will be able to find out more information by contacting us or alternatively visiting;

https://www.tax.service.gov.uk/calcualte-stamp-duty-land-tax/#/holding

Indemnity Insurance This varies dependent on the price of the property. However, is approximately £50 – £150. Please call us for a tailored quote
Acting for Lender (IF Applicable) This varies dependent on the price of the property. However, is approximately £250 – £400. Please call us for a tailored quote
SDLT Completion and Filing Fee This varies dependent on the price of the property. However, is approximately £50 – £150. Please call us for a tailored quote
Help to Buy ISA (If Applicable) £50 plus VAT
Leasehold Properties’ There may be additional costs that may be payable regarding the apportionments of your Ground Rent/Service Charge payable on your property. We will endeavour to let you know as soon as possible.

There may be other disbursements which may be payable, dependent to the nature of your transaction. We will advice you as soon as we can regarding the same.

Timescales

The average conveyancing process takes between 6-8 weeks from receiving the draft documents from the seller solicitors. Although the process is dependent on other factors out of our control including and not limited to, local authority search times, outstanding mortgage offers, additional enquires, defective titles and whether or not the chain is ready to complete.

 

If you have any queries, please do not hesitate to contact us on 020 8423 0203 or admin@somasolicitors.co.uk in order to speak to a specialist.