Conveyancing

Disbursements for Sale of Residential Property

In addition to our fees, the following disbursements are payable on the sale of a property:

Office copies and plan

Telegraphic transfer fee

£6

£30 plus Vat

Disbursements for Purchase of Residential Property

In addition to our fees, the following disbursements are payable on the purchase of a property:

Depending on the purchase price of the property, the following is also payable:

Search pack (includes Local Authority Search, Environmental Search and Drainage Search as charged£260 (usual cost)
Telegraphic Transfer FeeDependent on charge to us
Preparation of Stamp Duty Land Tax Form£30 plus VAT
Purchase Price of PropertyLand Registry Fee
£0 – £80,000£20
£80,001 – £100,000£40
£100,001 – £200,000£95
£200,001 – £500,000£135
£500,000 – £1,000,000£270
Above £1,000,001To be advised.

Stamp Duty Land Tax (SDLT) is payable on increasing portions of the property price above £125,000 for residential properties.

If you are buying your first home, you get a discount (relief) so that you do not pay any tax up to £300,000 and 5% on the portion from £300,001 – £500,000.  You are eligible if:

  • You complete your purchase on or after 22 November 2017
  • The purchase price is £500,000 or less
  • You, and anyone else you are buying with, are first time buyers

The SDLT for the purchase price of a lease (the ‘lease premium’).

Property or lease premium or transfer value 

Up to £125,000. SDLT rate – Zero

The next £125,000 (the portion from £125,001 to £250,000) SDLT rate – 2%

The next £675,000 (the portion from £250,001 to £925,000) SDLT rate – 5%

The next £575,000 (the portion from £925,001 to £1.5 million) SDLT rate – 10%

The remaining amount (the portion above £1.5 million) SDLT rate – 12%

Higher rates for additional properties

You’ll usually have to pay 3% on top of the normal SDLT rates if buying a new residential property means you’ll own more than one.

Additional Disbursements for Leasehold Properties

On a retirement property Transfer fee or contingency fee payable to the Landlord

 

Approximately 1% of the purchase price

Cost of purchase/sale of property: Fee Vat Total
£0 £80,000 £600 £120 £720
£80,001 £100,000 £600 £120 £720
£100,001 £150,000 £620 £124 £744
£150,001 £200,000 £680 £136 £816
£200,001 £250,000 £700 £140 £840
£250,001 £300,000 £750 £150 £900
£300,001 £400,000 £800 £160 £960
£400,001 £500,000 £850 £170 £1,020
£500,001 £700,000 £950 £190 £1,140
£700,001 £900,000 £1,250 £250 £1,500
£900,001 £1,000,000 £1,600 £320 £1,920

Example

If you buy a house for £275,000, the SDLT you owe is calculated as follows:

0% on the first £125,000 = £0
2% on the next £125,000 = £2,500
5% on the final £25,000 = £1,250
Total SDLT = £3,750

Qualifications

The legal work will be carried out by Anthony Wade and his legal assistants.

Anthony Wade is a solicitor and has been qualified for over 50 years.

What work is included

The legal fees set out above include dealing with a purchase or sale of a property from taking initial instructions to completion of purchase or sale of property and dealing with any relevant bodies such as the Land Registry.

Valid as at 6th December 2018

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