Finding tailor made solutions for all your legal challenges
Residential Purchase Pricing
Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying a property.
We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled. Where necessary, we can also recommend other professionals such as Surveyors, and Independent Financial Advisors giving you access to all the expertise you need.
We have an experienced team who understand the stress involved in buying property. We provide a first-class service from our expert team who make the difference by taking care of all the important legal details and removing any confusion and uncertainty from the process. The legal work on your purchase will be carried out by a qualified solicitor assigned to your matter.
We realise that this is potentially the biggest investment of your life and that communication is key, especially when dealing with the complex issues that can sometimes be involved with leasehold property. Our team are made up of highly qualified Solicitors who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.
The solicitor handling your matter will make sure that they are available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have.
The majority of our work stems from repeat business from existing clients, recommendations from our clients and new business generated from our long-standing relationships with local estate agents.
We are proud to hold CQS Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
We appreciate that the fees involved in any transaction are important and we review our fees on a regular basis. At the start of the transaction we will provide you with a bespoke costs estimate based on the circumstances of your transaction which will include details of all legal costs, VAT and any known disbursements. This is not a fixed fee. If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided. Usually we will only deviate from our initial costs estimate if the matter becomes protracted or there are unforeseen circumstances that were not evident at the start of the transaction.
In the event that there are any disbursements for which we cannot provide a definitive figure at the outset (such as fees payable to a landlord or managing agent for dealing with notices or production of a new share certificate on a leasehold property purchase) we will endeavour to use our experience to provide you with a realistic estimate.
The level of fees will depend on various factors, including the required timescale (please note we can work to tight deadlines if required) the value and whether the transaction involves freehold or leasehold property. Typically, our fees will fall within a range of £1,200.00 plus VAT to £5,000.00 plus VAT per property transaction.
Our fees cover all the work required to complete the purchase of your new property, 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 is in Wales
Disbursements are any costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Examples of typical disbursements are listed below (not all of these will apply to each transaction).
SDLT on the Purchase Price
HM Land Registry Fee
£20.00 to £910.00 depending on the value and nature of the transaction
Search Fees (including mapping fee)
For your information the Search bundle includes the Local Authority Search, Water and Drainage Search, a digital Risk View Residential Report and a No Check Chancel Policy.
£321.00 approximately for London Borough of Richmond – the fee may differ slightly for other local authorities.
The approximate cost is usually £300.00 -£500.00 including VAT
OS1 priority Land Registry search
£3.00 per title
Bankruptcy Search Fee
£2.00 per name
Additional Disbursements – usually for Leasehold Properties
Notice of Transfer and Charge*
£50.00 plus VAT - £250.00 plus VAT per notice on average – depending on nature of property and the identity of the Freeholder
Deed of Covenant Fee ( if required by the lease or Transfer Deed)*
£50.00 plus VAT - £300.00 plus VAT – this varies depending on the nature of the property and the identity of the Freeholder
Certificate of Compliance Fee ( if required due to restriction on title)*
Usually £50.00 plus VAT- £100.00 plus VAT
Fee for new share certificate (if applicable)*
Usually this fee is between £50.00 plus VAT -£100 plus VAT
*We will update you on specific fees upon receipt and review of the lease and the management pack from the seller’s solicitors.These fees vary from property to property and can on occasions 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 charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
What is included?
- Taking your instructions and giving initial advice based on the information you have provided
- Explaining the conveyancing process and what is required from you
- Check finances are in place to fund purchase
- Receive and review contract, seller’s title and supporting contract papers
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of the Seller’s solicitor
- Prepare Report on title providing a summary of our advice on all searches and documents and information received
- Advising you on joint ownership
- Review and discuss with you the conditions of the mortgage offer
- Meet with you to sign the relevant documentation for exchange and completion or send you the relevant documentation for your signature
- Taking instructions for exchange – including agreeing a completion date
- Exchanging contracts and notifying you that this has happened
- Submit request for mortgage monies to lender in preparation for completion
- Preparing cash statement and sending this to you requesting balance of funds to complete
- Obtaining pre-completion searches
- Completing the purchase
- Submit SDLT return and pay stamp duty land tax
- Apply to Land Registry for registration of your purchase
- Attend to any other post-completion requirements for example sending notices to landlord on leasehold property/requesting new share certificate (as appropriate)
We do not undertake tax advice.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- Where the property is Ieasehold it involves the assignment of an existing lease and not the grant of a new lease.
- If crucial documents, we have previously requested from you have not been provided to us
- If you require an exchange within 2-3 weeks of instructing us
- If you require completion within 3-4 weeks of instructing us
- If you require simultaneous exchange and completion
- If you require a Deed of Variation or a lease extension as part of the purchase process.
- If you discover building regulations or planning permission has not been obtained
- If the property is a new build
- If all parties to the transaction are not co-operative and there is an unreasonable delay from third parties providing documentation
- If indemnity policies are required, which may require additional work and disbursements in respect of the policy premium.
Additional work arising as a result of any of these factors is charged at the hourly rate of the acting solicitor.
Our Property Team
- Nicole Green is a Partner and our Head of Residential Property. Nicole has over 10 years’ experience of residential property matters. Her hourly rate is £250.00 plus VAT.
- Parveen Abbas is a Partner. Parveen has over 12 years’ experience of residential property matters. Her hourly rate is £225.00 plus VAT.
- Henna Lynch is a partner with over 12 years’ residential property experience. Her hourly rate is £225.00 plus VAT.
- Sadia Patankar is another very experienced solicitor with over 10 years’ experience in commercial property and residential property matters . Her hourly rate is £250.00 + VAT.
We review our hourly rates at the end of March each year.
For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved, such as:
- Number of parties in the chain
- Whether you are getting a mortgage
- Whether you request a lease extension for a leasehold property
- Whether the searches flag up any issues
- Whether your Survey shows up any issues
- The nature and extent of Enquiries
- Whether the property is new build or involves the grant of a new lease
An average transaction will take between 4-6 weeks to reach exchange of contracts and on average there is usually 2-4 weeks between exchange and completion.
Through each step of the transaction and tailor our service to your personal requirements, so you get exactly the service you need.
Meet the team at Perry Hay
You can contact our team for expert legal advice.
For further information or to speak to one of our experts please call us on 020 8940 8115