Woodfines > Residential Conveyancing Fees
Residential Conveyancing Fees
If you are looking to move house or buy residential property, we can guide you through the process smoothly. There are many variables to calculating the costs and our legal fees will depend on the price of the property, the nature and structure of the transaction and how the purchase is funded.
When you instruct Woodfines Solicitors, your matter will be handled by an experienced legal expert who will be supported by a larger team of paralegals and assistants. There will always be someone to take your call.
For an instant online quote please visit the here or you can make an enquiry by calling 0344 967 2505 or emailing newresidential@woodfines.co.uk
We provide our services at a transparent cost and have outlined three examples below which detail the costs for some typical transactions based upon Assumptions found here and subject to our Disclaimer.
Stamp Duty Land Tax or Land Tax (on a purchase):
The amount you will need to pay is calculated primarily on the purchase price of the property. Other factors will impact the amount payable including whether you own another property; whether you purchase as a company or as an individual; or if you are a non-UK resident. Some shared ownership leasehold property purchases can also involve complex tax calculations.
You can calculate the amount you will need to pay by using the Stamp Duty Land Tax Calculator or if the property is located in Wales, by using the Calculate Land Transaction Tax | GOV.WALES.
Example Costs for Typical Transactions
Our fees cover all legal work required to complete the purchase of a property, including dealing with the registration at H.M. Land Registry and with the payment of Stamp Duty Land Tax to H.M. Revenue & Customs (Stamp Duty Land Tax) if the property is in England, or Land Transaction Tax (Land Transaction Tax) if the property is in Wales.
Disbursements are costs related to your matter and which are payable to third parties – such as H.M. Land Registry registration fees. We handle the payment of these disbursements on your behalf to ensure they are made promptly for you.
- Purchase of a freehold residential property by two people, for £1,200,000 with a mortgage.
These example fees are based upon Assumptions found here and are subject to our Disclaimer.
| Woodfines Legal Fees -Purchase | £2,275.00 | £455.00 | £2,730.00 |
| Woodfines Legal Fees – SDLT Return to HMRC | £95.00 | £19.00 | £114.00 |
| Woodfines Legal Fees – Acting for Lender | £125.00 | £25.00 | £150.00 |
| Woodfines Legal Fees – Making CHAPS Payment | £40.00 | £8.00 | £48.00 |
| Sub-total – Woodfines Legal Fees | £2,535.00 | £507.00 | £3,042.00 |
| Property Search Pack and Search Provider’s Fees (Local Authority, Drainage & Water, Environmental and Contamination) (approx. dependent on Local Authority) | £450.00 | £90.00 | £540.00 |
| H.M. Land Registry – Official Search | £3.00 | £0.60 | £3.60 |
| H.M. Land Registry – Bankruptcy Search (x2) | £4.00 | £0.80 | £4.80 |
| H. M. Land Registry – Registration Fee | £500.00 | £0.00 | £500.00 |
| H.M. Revenue & Customs – SDLT / LTT **Please see disclaimer** | £61,250.00 | £0.00 | £61,250.00 |
| Sub-total – Disbursements | £62,207.00 | £91.40 | £62,298.40 |
| Total | £64,742.00 | £598.40 | £65,340.40 |
Please note we neither pay nor receive referral fees.
You should also be aware that some freehold properties require the owner of the property to pay a maintenance fee in connection with looking after common parts of the development. If this arrangement is in place in relation to the property you are buying, there will be additional fees payable depending on the type of arrangement in place.
- Purchase of a leasehold residential property by two people, for £350,000 with a mortgage.
These example fees are based upon Assumptions found here and are subject to our Disclaimer.
| Description | Net | VAT | Total |
| Woodfines Legal Fees -Purchase | £2,295.00 | £459.00 | £2,754.00 |
| Woodfines Legal Fees – SDLT Return to HMRC | £95.00 | £19.00 | £114.00 |
| Woodfines Legal Fees – Acting for Lender | £125.00 | £25.00 | £150.00 |
| Woodfines Legal Fees – Making CHAPS Payment | £40.00 | £8.00 | £48.00 |
| Sub-total – Woodfines Legal Fees | £2,535.00 | £507.00 | £3,042.00 |
| Property Search Pack and Search Provider’s Fees (Local Authority, Drainage & Water, Environmental and Contamination) (approx.) | £450.00 | £90.00 | £540.00 |
| H.M. Land Registry – Official Search | £3.75 | £0.75 | £4.50 |
| H.M. Land Registry – Bankruptcy Search (x2) | £5.50 | £1.10 | £6.60 |
| H. M. Land Registry – Registration Fee | £150.00 | £0.00 | £150.00 |
| H.M. Revenue & Customs – SDLT / LTT (Please see disclaimer) | £5,000.00 | £0.00 | £5,000.00 |
| Sub-total – Disbursements | £5,609.25 | £91.85 | £5,701.10 |
| Total | £8,144.25 | £598.85 | £8,743.10 |
Please note we neither pay nor receive referral fees.
You should also be aware that ground rent and service charge are likely to apply throughout the ownership of your leasehold property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information. It may be necessary to ‘apportion’ these items at completion to ensure that neither you nor the seller are left out of pocket at completion.
- Sale of a freehold residential property, by two people, for £500,000 repaying an existing mortgage.
These example fees are based upon Assumptions found here and are subject to our Disclaimer.
| Description | Net | VAT | Total |
| Woodfines Legal Fees -Sale | £1,150.00 | £230.00 | £1,380.00 |
| Woodfines Legal Fees – Making CHAPS Payment | £40.00 | £8.00 | £48.00 |
| Sub-total – Woodfines Legal Fees | £1,190.00 | £238.00 | £1,428.00 |
| H. M. Land Registry – Official Copies (£3 per document requested) | £3.00 | £0.60 | £3.60 |
| Sub-total – Disbursements | £3.00 | £0.60 | £3.60 |
| Total | £1,193.00 | £238.60 | £1,431.60 |
Please note we neither pay nor receive referral fees.
Additional elements to example transactions
In addition to the charges and disbursements set out in the examples above, and to ensure transparency, please note that we will levy an additional fee for dealing with certain items, of which the following are the most common (all charges are subject to the addition of VAT):
- Gifted Deposit (per gifted deposit) £550.00
- Help to buy ISA (per ISA): £50.00
- Lifetime ISA (per ISA): £175.00
- Trust Deed (minimum fee): £500.00
For further information, or to obtain a tailored quote for your requirements, please email newresidential@woodfines.co.uk