Our Fees Are Transparent And Straightforward
At Butterworths Solicitors, we know that buying and selling a property can be one of the most stressful times in your life. Whether you are a first-time buyer, a home mover, buying a new-build or using an auction house, Butterworths Solicitors have a designated, first-class team who will guide you through the process to ensure things are handled as quickly and efficiently as possible and will provide you with your own dedicated and experienced conveyancing solicitor or experienced conveyancing legal adviser to work on your matter. Take a look at our team of expert conveyancers.
At Butterworths Solicitors, we believe that the cost of providing legal services should be transparent so that you get no surprises. We provide our residential property conveyancing services on a fixed fee basis. Auction sales or purchases and new-build purchases have a different Pricing structure, details of which are available upon request.
Standard Sale & Purchase Transactions – Freehold
This fee information relates to residential property matters only. This information does not relate to commercial property or sales of property portfolios. This information is a guide to assist you in estimating the costs of your conveyancing transaction but is not a binding quotation. Once we have full details of your matter, we will be able to provide you with a more accurate estimate. If our estimate changes for any reason, we will provide you with a revised estimate of our charges.
* For a Leasehold fee – Please see the ‘Leasehold Fee’ section in the additional fee table.
Disbursements
Disbursements are costs related to your matter that are payable by you to third parties, such as search fees, HM Land Registry fees and Stamp Duty Land Tax. We handle the payment of the disbursements on your behalf to ensure a smoother process, but you may be required to pay the funds to us on account before we incur these.
Stamp Duty Land Tax
This applies to purchases only. First-time buyers paying £425,000 or less for a residential property will pay no Stamp Duty Land Tax and first-time buyers paying between £425,001 and £625,000 will pay Stamp Duty Land Tax at 5% on the amount of the purchase price in excess of £425,001. If you are not first-time buyers, when you buy a property that costs more than £250,000, the Stamp Duty Land Tax you will pay to HMRC depends on the purchase price of your property. If you already own a property, in the UK or abroad, you pay an extra 3%.
You will not pay the higher Stamp Duty Land Tax rates if the property you are buying is replacing your main residence and that main residence has already been sold. If you buy a new main residence but the sale for your previous main residence is delayed, you will pay the higher rate (as you own 2 properties) but you can get a refund for the amount above the normal Stamp Duty Land Tax rates if you sell your previous main residence within 3 years of buying the new property. The refund must be claimed within 12 months of the sale of the previous mai residence or within 12 months of the filing date of the return, whichever comes later. You can calculate the amount you will need to pay by using HMRC’s Stamp Duty Land Tax calculator here.
H&L Composite Fee
This refers to the fee charged for handling both the sale of a house and the loan associated with the purchase. This fee covers the legal work involved in the conveyancing process related to both the property sale and the associated mortgage or loan.
Conveyancing Additional Fees
This is notification of potential additional charges in addition to your estimate of costs. This is not an exclusive list, but an example of additional services and fees we provide. All fees are subject to VAT.
In order to ensure that we are providing you with a quality service, we may have to charge you an additional fee, where extra work is required. If any apply to your transaction, we will notify you of any specific further fees prior to carrying out the work.
The Conveyancing Process
Resale Sale and Purchase
The average resale sale or purchase transaction takes between 8 to 12 weeks from instruction to legal completion. For purchases, the property is then registered at the Land Registry.
New Build
The average new-build conveyancing transaction takes between 6 to 8 weeks from instruction to exchange of contracts. Legal completion then usually occurs within 2 to 4 weeks after the developer advises that the property build has completed. The property is then registered at the Land Registry.
Auction
Preparation of the legal pack usually takes approximately 5 working days from when we receive all the paperwork. The average auction transaction completes within 28 days after the contracts are exchanged at auction. For purchases, the property is then registered at the Land Registry.
For more information on the conveyancing process, take a look at our step-by-step guide.
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