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Legal Fee Information for Purchase of a Freehold or Leasehold Residential Property

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.

Below we detail what services are covered in our standard fee.

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 Fee Assumes That:

  1. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
  2. for Leasehold matters this is the assignment of an existing lease and is not the grant of a new lease.
  3. the transaction is concluded in a timely manner and no unforeseen complication arise.
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

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.

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: -

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 websiteor if the property is located in Wales by using the Welsh Revenue Authority's website here

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to 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.

Questions

If you have any questions relating to our services and our fees, please contact us on 020 7486 5131 or email us at admin@mwh-law.co.uk

Legal Team

The following team members handle all Residential Property matters:

In every case that we handle, we are committed to the very highest levels of client care