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Residential Purchase Pricing

Our fees cover all of the work required to complete the sale of your property. We work on a fixed fee basis.

 
 

The tables below set out our base fees plus the additional fees that may be chargeable depending on your transaction and individual requirements. Alternatively we would be happy to provide a bespoke, no-obligation quote and can be contacted on 0117 906 9400 or at 

residential@gregglatchams.com

Properties in London

Property Price Freehold Fees Total Leasehold Fees Total
£0 – £499,999 £1585 + £317 VAT £1902.00 £1935 + £387 VAT £2322.00
£500,000 – £749,999 £1835 + £367 VAT £2202.00 £2185 + £437 VAT £2622.00
£750,000 – £999,999 £2135 + £427 VAT £2562.00 £2485 + £497 VAT £2985.00
£1,000,000 + 1/4 % + VAT tbc 1/4 % + £500 + VAT tbc

Properties outside of London

Property Price Freehold Fees Total Leasehold Fees Total
£0 – £249,999 £1135 + £227 VAT £1362.00 £1485 + £297 VAT £1782.00
£250,000 – £499,999 £1335 + £267 VAT £1602.00 £1685 + £337 VAT £2022.00
£500,000 – £749,999 £1535 + £307 VAT £1842.00 £1885 + £377 VAT £2262.00
£750,000 – £999,999 £1735 + £347 VAT £2082.00 £2085 + £417 VAT £2502.00
£1,000,000 – £1,449,999 £2135 + £427 VAT £2562.00 £2485 + £497 VAT £2982.00
£1,500,000 – £1,999,999 £2535 + £507 VAT £3042.00 £2885 + £577 VAT £3462.00

Additional Fees that may be payable:

Item Amount VAT
Acting for each mortgage lender £200.00 £40.00
Each additional bank transfer fee £35.00 £7.00
Unregistered Property fee £150.00 £30.00
New Build Property £250.00 £50.00
Help to Buy/Shared Ownership £500.00 £100.00
Director/Head of Department surcharge £450.00 £90.00

Disbursements

In addition to our fees, “disbursements” will be payable. Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of all disbursements on your behalf. 

Anticipated Disbursements payable in every transaction:

Price Land Registry Registration fee * Each anti-money Laundering search Searches** Stamp duty / Land Tax *** Pre-completion searches
£0 – £100,000 £20 – £40 £4.17 + £0.83 VAT £200 – £300 plus £40-£60 VAT See notes below £15-£22
£100,001 – £200,000 £95.00 £4.17 + £0.83 VAT £200 – £300 plus £40-£60 VAT See notes below £15-£22
£200,001 – £500,000 £135.00 £4.17 + £0.83 VAT £200 – £300 plus £40-£60 VAT See notes below £15-£22
£500,001 – £1,000,000 £270.00 £4.17 + £0.83 VAT £200 – £300 plus £40-£60 VAT See notes below £15-£22
£1,000,001 + £455.00 £4.17 + £0.83 VAT £200 – £300 plus £40-£60 VAT See notes below £15-£22

Notes:

  • * These fees assume the property is already registered at the Land Registry. The fees will double for first registrations
  • ** Search fees vary from location to location and could be more or less than the range quoted. In Bristol the average search fees (including a mining search) are £230 + £56 VAT
  • *** The amount payable for Stamp Duty depends on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website

Anticipated Disbursements payable in Leasehold transactions:

Price Notice of Transfer fee Notice of Charge fee Deed of Covenant fee Certificate of Complaince fee
£0 – 1,000,00+ £0 – £200 £0 – £200 £0 – £200 £0 – £200

NB leasehold specific disbursements  fees vary from property to property and can on occasion be significantly more than the ranges given above. We will give you an accurate figure once we have received and reviewed (i) the lease and (ii) replies to Leasehold Property Enquiries. Also this list is not exhaustive and other costs may apply, such as upfront payment of rent and service charge. The amount is specific to the property and may not be known to us until a completion date is agreed.

Time Scales

The timescale depend on factors such as (but not limited to):

  • The number of parties in the chain
  • Whether you are taking a mortgage
  • Whether you have a mortgage in place
  • Whether a lease extension or deed of variation is required
  • Whether the searches flag up any issues
  • Whether your survey reveals any issues

A typical transaction will take between 8 – 12 weeks, however if any of the above factors apply, your purchase could take longer. We will keep you updated as to our progress throughout the transaction.

If exchange and/or completion is required more quickly than the usual timeframe we will make an additional charge for expediting the matter. This will be based upon the speed required.

Key Milestones

The milestones will vary according to individual circumstances but are likely to include:

  • Confirming your initial instructions and verifying your identity
  • Verifying your source of funds 
  • Obtaining information from your sellers
  • Checking that the sellers have good title to the property you are buying
  • Carrying out searches and raising pre-contract enquiries of the Seller’s solicitors 
  • Agreeing the terms of the contract of sale and the deed will transfer ownership of the property
  • Reporting to you 
  • Checking the mortgage  conditions (if applicable) to ensure the mortgage advance can be drawn down on completion
  • Collecting the deposit from you 
  • Exchanging contracts once everyone is ready and a completion date agreed
  • Requesting (i) the mortgage advance from the lender(s) (if applicable) and (ii) the balance to complete due from you
  • Sending the purchase monies to the Seller’s solicitor on the completion date
  • Submitting the Stamp Duty/Land Tax returns and sending payment to the relevant authority
  • Registering the property in your name at the Land Registry

Exclusions

We do not undertake tax advice.

Our fixed fees assume that:

  • No complications or unforeseen matters arise during the transaction. This includes, but is not limited to, (i) a defect in title which require remedying prior to completion and (ii) the preparation of additional documents ancillary to the main transaction such as a deed of variation
  • A leasehold purchase is an assignment of an existing lease and not the grant of a new lease
  • The transaction is concluded in a timely manner
  • All parties to the transaction are co-operative and do not cause unreasonable delay 
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required
  • The property will be vacant on completion. Additional fees will be payable if the Property is being purchased with tenants in situ
  • The mortgage lender (i) is FCA regulated (ii) will appoint us to act on their behalf and (iii) issues standard mortgage documents. Additional fees will be payable if any of these assumptions are incorrect
  • A declaration of trust is not required. Additional fees will apply if you require a declaration
 

To find out how we can help you or your business, get in touch.

Give us a call:

0117 906 9400

 
 
 
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