Stamp Duty Land Tax has not been included in this example as this will depend on your individual circumstances which we’ll be happy to discuss with you.
This is an example pricing. We’ll always give you an individual cost estimate for your specific circumstances, so you know clearly what the costs will be and exactly what work they cover.
Have a chat with our expert team of residential property lawyers on 01284 767766 and we’ll be happy to talk through the process with you, explain what we do, and answer any questions you have. There’s no obligation.
Once we know precisely what you’d like us to do for you, we’ll send you a breakdown showing the costs for your transaction so you know you’re not paying for anything you don’t need, and there are no surprises.
If there is such a thing as a standard timescale we usually see exchange of contracts within 8 – 10 weeks from receipt of the draft paperwork and completion a week or two later. The time between exchange of contracts and completion is largely to allow for the logistics of mortgage finance and coordinating the chain of related sales and purchase. This will be dependent on the chain which you are involved in.
Stamp Duty Land Tax
Stamp Duty Land Tax (‘SDLT’) hasn’t been included in this example as this will depend on your individual circumstances, which we’ll be happy to discuss with you. The Stamp Duty Land Tax calculator on HMRC’s website will work out the amount of SDLT payable.
If the property you’re purchasing is situated in Wales you will need to pay Land Transaction Tax (“LTT”). You can use the LTT calculator on the Welsh Revenue Authority’s website to work out the amount of LTT you’ll need to pay.
Very occasionally matters can arise in a transaction where indemnity insurance can be put in place as a solution. It’s a matter of negotiation as to which party to the transaction covers the cost of such insurance. The cost of the insurance will depend on the nature of the insurance and typically we see insurance premiums ranging from £25.00 – £150.00.
We carry out a Local Authority search, drainage & water report, environmental report and planning report as standard. Depending on the location of the property which you’re purchasing additional searches may be necessary. For example, a mining report or flood risk assessment.