Charges for a purchase by 2 first time buyers of a new build freehold residential property at £375,000 with Help to Buy and Help to Buy/Lifetime ISA – in England with a mortgage

Our fees and disbursements

  • Legal fee £895.00
  • VAT payable £179.00
  • Search fees £216.90
  • HM Land Registry fee £270.00
  • Electronic money transfer fee £48.00
  • Land registry search £3.00
  • Bankruptcy search £4.00
  • Lawyer checker fee £12.00

Subtotal: £1,627.90

Estimated total with stamp duty:  £5,377.90

Please note that the Stamp Duty or Land Tax you pay depends on the purchase price of your property.

You can calculate the amount you will need to pay by using HMRC’s website for properties in England, or the Welsh Revenue Authority’s website for properties in Wales.

 If you are a first time buyer – and that means that you do not, nor have ever previously owned any property anywhere in the world – then you do qualify for exemption on a purchase price of up to £300,000.00.  If you are a first time buyer and your purchase price exceeds this sum, then you would pay Stamp Duty or Land Tax on any amount over the £300,00.00.  So using the example above, although you receive exemption for the first £300,000.00, you have to pay 5% on the remaining £75,000.00.  For this example the Stamp Duty Land Tax is therefore £3,750.00.

Assumptions

The prices provided above are a general guide.  Our estimated fee assumes that:

  • 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
  • the transaction is concluded in a timely manner and no unforeseen complications arise
  • all parties to the transaction are co-operative and there is no unreasonable delay from third parties in providing documentation
  • no indemnity insurance is required

As each transaction is different we are very happy to discuss your individual situation and provide you with a more precise and personalised quote, so please do get in touch with us.

Our team

The conveyancing team is led by Angela Mulgrew who has over 30 years experience.  Details of the team members can be found by clicking on the links below:

Angela Mulgrew

Simon Grindlay

Mark Cooper

Helen Checketts

Diane Latham

 

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