How much will it cost?

The costs of our conveyancing services depend on several factors including the area in which the property is located and the purchase price. You can get an instant, free, no obligation conveyancing estimate by answering a few questions on our conveyancing quote calculator. Alternatively, an example of our typical fees and disbursements is shown below. Alternatively, an example of our typical fees and disbursements is shown below.

We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If, during the transaction, there is a new development, we will discuss the change in fees with you and agree a way forward.

An example of our typical costs follows:

The typical costs listed below cover the work involved in a standard property purchase, including dealing with the registration of the property at the Land Registry and, where applicable, dealing with the submission and payment of any Stamp Duty Land Tax (in England) or Land Transaction Tax (in Wales).

An Example of a typical Freehold house purchase for £250,000.00

*Disbursements

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.

Below is a list of typical disbursements that have been included in the estimate above, although these may vary depending on the circumstances:

Searches – depending where your property is, the requirement for different searches and their costs can vary. We would estimate searches to cost between £200 and £300 including a Local Authority Search, Drainage and Water Search, and Environmental Search. Some areas may require further searches such as a coal mining search (currently £39.60).

Land Registry Fee – this is the fee charged by the Land Registry to register the property into your name. The fee for this is set by the Land Registry and depends on a few circumstances (eg. price paid, the property being registered already at the Land Registry). Information on these fees can be found here – HM Land Registry: Registration Services fees – GOV.UK (www.gov.uk). We will always endeavour to submit applications through the Business Gateway in order to take advantage of the reduced fees, however where this is not possible (for example, registering a new build property) then the higher rate would apply.

Pre-Completion Searches – typically we are required to carry out a Land Registry Priority Search which costs £3.60 (incl VAT) and a bankruptcy search where you are obtaining a mortgage at a cost of £2.40 (incl VAT) per person.

Bank transfer Fee – £10.20 (Incl VAT)

The Purchase of a Leasehold Residential Property

The typical costs listed below cover the work involved in a standard property purchase, including dealing with the registration of the property at the Land Registry and, where applicable, dealing with the submission and payment of any Stamp Duty Land Tax (in England) or Land Transaction Tax (in Wales).

An Example of a typical Leasehold purchase for £250,000.00

*Disbursements

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.

Below is a list of typical disbursements that have been included in the estimate above, although these may vary depending on the circumstances:

Searches – depending where your property is, the requirement for different searches and their costs can vary. We would estimate searches to cost between £200 and £300 including a Local Authority Search, Drainage and Water Search, and Environmental Search. Some areas may require further searches such as a coal mining search (currently £39.60).

Land Registry Fee – this is the fee charged by the Land Registry to register the property into your name. The fee for this is set by the Land Registry and depends on a few circumstances (eg. price paid, the property being registered already at the Land Registry). Information on these fees can be found here – HM Land Registry: Registration Services fees – GOV.UK (www.gov.uk). We will always endeavour to submit applications through the Business Gateway in order to take advantage of the reduced fees, however where this is not possible (for example, registering a new build property) then the higher rate would apply.

Pre-Completion Searches – typically we are required to carry out a Land Registry Priority Search which costs £3.60 (incl VAT) and a bankruptcy search where you are obtaining a mortgage at a cost of £2.40 (incl VAT) per person.

Bank transfer Fee – £10.20 (Incl VAT)

Additional Leasehold Disbursements

There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate may 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 specific fees upon receipt and review of the lease from the seller’s solicitors. In the example estimate above we have included there being a Notice of Transfer and a Notice of Charge.

* These fees vary from property to property and can on occasions 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 charges 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.

Additional Leasehold Disbursements

There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate may 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 specific fees upon receipt and review of the lease from the seller’s solicitors. In the example estimate above we have included there being a Notice of Transfer and a Notice of Charge.

Stamp Duty Land Tax

This will depend on the purchase price of your property and your circumstances. In the estimate above, we have used a standard Stamp Duty calculation, but this may change depending on your own circumstances. 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.

Exclusions

We do not undertake tax advice.

There may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

• If a legal title is defective or part of the property is unregistered
• If you discover building regulations or planning permission has not been obtained
• If crucial documents, we have previously requested from you have not been provided to us
• If the property is a new build
• If you are receiving a gifted deposit
• If you are using a Help to Buy ISA/Lifetime ISA
• If you are getting a Help to Buy Equity Loan
• If the property is shared ownership

LCF Residential offer great value for money. Click here to Get an Instant Quote or call us today with some simple details about the property, and we’ll give you a competitive price.

We look forward to helping you.

  03456 800 277