SRA Transparency Rules – Purchase of freehold residential property
Conveyancer’s fees and disbursements
There are additional costs for disbursements as set out below:
Estimated total: £1,800.00 (inclusive of VAT) plus disbursements as detailed above.
This estimate is based upon the purchase of a freehold registered property in the London Borough of Ealing where the whole of the registered title is being purchased and the searches undertaken are Local Authority Search (including LLC1), Drainage & Water search, Chancel search, Highways search and Environmental search.
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?
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 10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such a situation additional charges would apply.