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. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer of a completed new build property, this may be a shorter process. However, if you are buying a leasehold property that requires an extension of the lease, or a property being sold as part of by the administration of an estate (Probate), this can take significantly longer. In such a situation, additional charges could apply.
Stages of the process
The key stages are:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender's solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller's solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you, if applicable
- Send final contract and transfer to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Freehold Residential Property (Sale or Purchase)
Up to £200,000 - £560.00 + VAT
£200,000 to £300,000 - £580.00 + VAT
£300,000 to £400,000 - £620.00 + VAT
£400,000 to £800,000 - £800.00 + VAT
£800,000 to £1,000,000 - £850.00+ VAT
Over £1,000,000 – Hourly Rate (to be discussed on individual basis)
Please note that our fees are calculated on the basis that this is a standard transaction concluded in a timely manner, no unforeseen complications arise and there is no unreasonable delay from third parties in providing any necessary documentation.
Full Search Package – £173.40 in Wales, £255.60 in England
(to include Local Authority, Water & Drainage, Coal Mining and Environmental searches only, additional searches charged separately)
Land Registry (OS1) - £3.00
Bankruptcy Searches - £2.00 per person
HM Land Registration Fee - This depends on the price of the property and whether the property is subject to first registration. Please visit the following website for a calculation: http://landregistry.data.gov.uk/fees-calculator.html
Stamp Duty Land Tax/Land Transaction Tax – The tax itself varies depending on the price of the property and whether you own more than one property. Please visit the following website for a calculation: https://www.gov.uk/stamp-duty-land-tax or https://beta.gov.wales/land-transaction-tax-calculator if the property is located in Wales.
Office Copy Entries and Title Plan - £6.00
Indemnity Policies – To be discussed, if applicable
Additional fees on all files
Bank Transfer Fee - £25.00 plus VAT
Digital File Storage Fee - £8.33 plus VAT
Additional Fees which may be applicable
Purchasing Leasehold Property - £150 plus VAT
Help to Buy ISA - £50.00 plus VAT
Help to Buy Loan Fee - £150.00 plus VAT
New Build Fee - £100.00 plus VAT
Unregistered Property Fee - £60.00 plus VAT
Stamp Duty Land Tax or Land Transaction Tax Admin Fee - £65.00 plus VAT
Preparation of Statutory Declaration - £100.00 plus VAT
Please note that with Leasehold Properties, ground rent and service charge are likely to apply throughout your ownership of the property.
We will provide a more accurate figure for overall costs once we have considered your specific documents.
We will endeavour to keep costs to a minimum and within the quotes provided. In the instances of additional complexities, or unforeseen circumstances, we will obtain your consent before incurring any further costs, other than those provided above.
Where VAT is to be added, this will be at the applicable rate at the date on which the fee or disbursement is incurred.
Who will be dealing with your matter?
Barbara Kinsey LLB Hons (Partner) – over 25 years of experience
Peter Smith (Consultant) – over 40 years of experience
Anthony Robins (Consultant) – over 40 years of experience