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Property Purchase

We aim to be totally transparent when it comes to our fees and the costs you may incur and as such the details below set out clearly our fees and the associated costs involved in the purchase of a property.

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements

Thank you for contacting Chester & Co. Please see below for your quote:

Purchase:

  • Chester & Co Legal Fee (To be advised, dependant on purchase price): £1,100 ex VAT (£1,320 inc VAT)
  • Leasehold Fee (If Applicable): £200 ex VAT (£240 inc VAT)
  • Telegraphic Transfer Fee (Price Per Transfer): £30 ex VAT (£36 inc VAT)
  • SDLT Form Completion Fee: £75 ex VAT (£90 inc VAT)

Disbursements:

  • Local Authority Search: £60
  • Further Searches if necessary (varies on location of property, only if needed in obtaining a mortgage): £100
  • Land Registry Fee: Dependant on Purchase Price
  • Stamp Duty Land Tax: Dependant on Purchase Price
  • AML ID Check and Initial forms (Per Person): £20 each
  • Land Registry Search Fee (Per Document): £3
  • Land Registry Bankruptcy Search Fee (Per Person): £2

In the event that we are not on the panel for the lender you choose to use for your mortgage, if applicable, there will be an additional £650 + VAT; please see the attached list of approved lenders.

If your mortgage lender is Santander, we will not be able to act for you at all.

Sale Fee:

  • Chester & Co Legal Fee (To be advised, dependant on purchase price): £1,100 ex VAT (£1,320 inc VAT)
  • Leasehold Fee (if applicable): £200 ex VAT (£240 inc VAT)
  • Telegraphic Transfer Fee (Price Per Transfer): £30 ex VAT (£36 inc VAT)

Disbursements:

  • Office Copy Entries (Per Document): £3
  • AML ID Check and Initial forms (Per Person): £25
  • Help to Buy ISA: £50 + VAT
  • Help to Buy Equity Loan: £300 + VAT
  • New Build Fee: £300 + VAT
  • SHARED OWNERSHIP: £300 +VAT
  • ID1: £250 + VAT

HM Land Registry fee fees can be checked at http://landregistry.data.gov.uk/fees-calculator.html but may typically include Official Copies, Priority Searches and Land Charge Searches

  • Electronic money transfer fee: £30 + VAT

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

Leasehold Additional Fees

  • Notice of Transfer fee – This fee if chargeable is set out in the lease.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease.

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information

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 to 8 weeks.

It can be quicker or slower, depending on the parties in the chain.

Our 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 or a lease extension requirement
  • The transaction is concluded in a timely manner and no unforeseen complication arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation