Buying a House or a Flat (Freehold or Leasehold)
We have a high client satisfaction rating and offer a personalised boutique service to clients.
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.
Fees and Disbursements
Legal Fee: see scale below
HM Land Registry Fee: £20 - £680
Electronic money transfer fee: £35 plus VAT
Search Fees: £250 - £450 (depending on local authority)
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.
Scale of Legal Fee
Price of Property Legal Fees
Up to £500,000 £850 - £1,100 plus VAT
£500,001 - £1,000,000 £1,000 - £1,500 plus VAT
£1,000,001 - £1,500,000 £1,500 - £2,000 plus VAT
£1,500,001 - £2,500,000 £2,000 - £3,000 plus VAT
£2,500,001 + £3,000 plus VAT +
OTHER DISBURSEMENTS WHEN BUYING A FLAT OR LEASEHOLD PROPERTY
Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 - £150.
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £150.
Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50 and £500.
Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50 – £150.
Stamp Duty Land Tax
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.
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 8-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 8 to 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
FIVE STAR REVIEWS FROM OUR CLIENTS
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lender's solicitors if needed
Receive and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of seller's solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Send final contract to you for signature
Agree completion date (date from which you own the property)
Exchange contracts and notify you that this has happened
Arrange for all monies needed to be received from lender and you
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry
OUR PROPERTY TEAM
Our team has over 30 years of collective experience in delivering high quality work in all matters relating to property and conveyancing.
We have five members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by Delfin Posada, the Managing Partner of the firm.
Delfin has nearly 20 years' experience in property and private client work. He has been working in this area since he qualified and has helped thousands of families and individuals.
Delfin first qualified as a solicitor and barrister in in Australia in 1999. He qualified as a solicitor in England and Wales in 2004. Delfin is a recognised Trust and Estate Practitioner having obtained his STEP qualifications in 2012. He is also a Notary Public.
Nikita is a Solicitor and has worked in Property law since joining the firm in 2015. Nikita deals with all aspects of conveyancing including shared ownership properties and help to buy matters. She has a special interest in new-build and off-the-plan purchases. Nikita acts for a number of the the firm's buy-to-let investor clients.
Nikita read English at Loughborough University and completed her Graduate Diploma in Law at the University of Law.
Laura is a Trainee Solicitor, due to qualify in September 2019. Laura has a particular interest in property and has worked on freehold and leasehold purchases, new-build purchases, sales of part, remortgages and lease extensions. In the first year of her training contract, she dealt with over 50 conveyancing matters and have received glowing reviews from her clients.
Prior to joining Posada & Co, Laura worked for a local law firm specialising in Family Law. She also worked as a Law Lecturer at Croydon College.
Sitem is a Trainee Solicitor, due to qualify in October 2019. Sitem works closely with the Managing Partner assisting him with his residential and commercial property matters. Sitem also handles her own property caseload dealing with freehold and leasehold purchases, new-build purchases and lease extensions.
Prior to joining Posada & Co, Sitem worked in the conveyancing department of a Top 20 Global Elite Law Firm in London.
Alexa is currently undertaking the LPC at the BPP Law School in London. She assists on a variety of residential property, commercial property and private client matters.
Alexa has had varied legal experiences both in London (UK) and Ontario (Canada). She read Commerce at McMaster University in Ontario (2015) and Law at University of London (2018). She
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