Freehold Residential Purchase Pricing

Whether you are a first-time buyer or an experienced investor, we are here to take the stress out of buying a residential property.

We offer a service that fits your exact requirements and when necessary we can recommend other professionals such as Surveyors, IFAs and property valuers.

At a time where money really matters, we always provide a quality service at a fair price. We will keep you up-to-date with all of the relevant information so you can make informed decisions and have complete confidence that every detail has been properly taken care of.

Why Us

Tayntons Residential Property team are accredited members of The Law Society’s Conveyancing Quality Scheme – the mark of excellence for residential property solicitors. Our Residential Property team are highly skilled professionals and have over 130 years’ combined conveyancing experience between them. They pride themselves on making sure the conveyancing process runs as quickly and smoothly, as possible, utilising their legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner.

We understand that communication is key, so will make sure we are always available to answer your questions in plain English and will keep you informed at every stage of the process.

You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty during your transaction. We feel this provides reassurance and gives you an outlet for any concerns that you may have.

Our approach is simple; we provide a first-class service from our expert team who make the difference by removing confusion and uncertainty, dealing with all of the legal details of a property transaction on your behalf with no hidden fees.

We are proud to hold the Lexcel Accreditation awarded by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Pricing

Tayntons has always been transparent regarding our fees and we would encourage you to visit our Instant Conveyancing Quote page where you will be able to generate a quote and breakdown of the legal fees, disbursements and other anticipated costs. There will be no hidden surprises – our costs and anticipated disbursements are fully broken down in our quotes.

We review our fees on a regular basis, considering clients’ feedback so we can make sure we always offer the best value for your money.

We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If, during the transaction, there is a new development, we will discuss the change in fees with you and agree a way forward. This would typically occur if you changed your instructions, or your case involves an unforeseen complexity.

Our fees

Our fees cover all 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.

In order to provide you with the most accurate quote for your circumstances, we have a conveyancing quote calculator on our website which will provide you with our costs and any disbursements once you have entered the required information.

VAT, currently 20%, will be payable on all our fees and some disbursements, and we will clearly confirm which disbursements carry VAT in our quote generator and formal quotation or as we advise you to incur them. Below is an example of our average fees for a freehold residential property purchase:

• Our average standard legal fee for a residential freehold property purchase is from £950.00 – £3,525.00 plus VAT (£1,140.00 – £4,230.00 inc. VAT)
• The final quote will depend on the value and location of the property and the complexity of the transaction. We would warn you that there are some charges made by others which we will not be able to ascertain until we are instructed and make the necessary enquiries.
• If the property is Leasehold, we will charge an additional fee of £300.00 plus VAT (£360.00 Inc. VAT)
• We will charge the sum of £40.00 plus VAT (a total of £48.00 Inc. VAT) for each electronic money transfer payment.
• For residential purchases involving a Help to Buy Loan or Help to Buy ISA/Lifetime ISA there will be an additional fee:
  • Help to Buy Loan Additional Fee £300.00 plus VAT (£360.00 Inc. VAT)
  • Help to Buy ISA/ Lifetime ISA additional fee £50 plus VAT (Inc. VAT £60.00)
• For residential property purchases using a corporate vehicle (purchasing a residential property through a Limited company) there is a supplemental fee of £250.00 plus VAT (£300.00 Inc. VAT) plus £22.20 companies house filing fee. This is due to company’s house registration requirements and additional documents required for lending purposes.
• Please note we need to carry out ID checks on all directors/shareholders which is £20.00 plus VAT (£24.00 Inc. VAT) per person.

For all our clients, we are required by our regulator to undertake Client Due Diligence (CDD) which is made of up KYC (Know Your Client) and AML (Anti Money Laundering) details of which are contained within our terms of engagement which will be sent to you when instructing us.

In addition to our standard charges as referred to above, the firm will apply a CDD charge of:

• ID Check £20.00 plus VAT (£24.00) per person
• Source of Funds/Wealth Check £10 plus VAT (£12.00 Inc. VAT) per person

Our Fee Assumes That:

• this is a standard transaction and that no unforeseen matters arise.
• the transaction is concluded in a timely manner and no unforeseen complications arise.
• all parties to the transaction are co-operative and there is no unreasonable delay from any parties providing documentation.

Disbursements

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.

These disbursements are payable on top of our own legal fees. In order to provide you with the most accurate quote for your circumstances, we have a conveyancing quote calculator on our website which will provide you with our costs and any disbursements once you have entered the required information.

Stamp Duty Land Tax

This will depend 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 here.

Exclusions

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. 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.

Factors that may lead to an increase in cost include:

• If a legal title is defective or part of the property is unregistered
• If you discover building regulations or planning permission has not been obtained
• If crucial documents, we have previously requested from you have not been provided to us
• If the property is a new build
• If the property is less than 10 years old
• If you require to exchange within 6 weeks of instructing us
• If you require completion within 6 weeks of instructing us
• If you require simultaneous exchange and completion

Please note that we do not undertake tax advice.

Time Scales

For any transaction, the timescales are subject to change depending on when your offer is accepted and the number of variable factors involved such as:

• Number of parties in the chain
• Whether you have a mortgage in place
• Whether you are buying a new build property
• Whether you need a lease extension for a leasehold property

A typical transaction will take between 12-16 weeks. However, if any of the above apply, or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

• Taking your instructions and giving initial advice based on the information you have provided
• Undertaking regulatory checks.
• Checking finances are in place to fund the purchase and contacting the lender’s solicitors if needed
• Receiving and advising on contract documents
• Undertaking searches
• Obtaining further planning documentation if required
• Making any necessary enquiries with the seller’s solicitor
• Providing advice on all documents and information received
• For Leasehold properties – obtaining and advising on the Management Pack, thee Lease and identifying transfer fees.
• Where necessary, advising you on joint or shared ownership
• Advising you of the mortgage offer conditions
• Finalising contracts and sending to you for signature
• Agreeing a completion date (the date from which you will legally own the property)
• Exchanging contracts and notifying you that this has happened
• Ensuring all monies have been received from you and the lender(s)
• Completing the purchase and notifying the relevant parties
• Dealing with payment of Stamp Duty/Land Tax
• Completing and submitting an application for registration at the Land Registry

Who will advise you?

We allocate the most appropriate member of our Residential Property team to your transaction once you instruct us, taking into account the type of transaction, complexity and experience required and the workloads within the department.

You can see details on all members of our Residential Property team here. The team is supervised by Andrew Ollerenshaw.