COVID-19 - how can we help? Please CLICK HERE for the latest information and advice from Gordons

Purchase of New Build Property

Pricing Information

Range of our Legal Fees

Our fees cover the standard of 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.

We reserve the right to amend these fees during the course of the transaction if something unusual arises which could not be foreseen at the outset whereupon we will inform the client as soon as reasonably practicable.

Purchase Price
Our Fee
Total Cost of the Service (incl VAT)
£0 – £200,000
£1,200.00
£1,440.00
£200,001 – £700,000
£1,450.00
£1,740.00
£700,001 – £1,000,000
£1,700.00
£2,040.00
£1,000,0001 – £1,500,000
£1,950.00
£2,340.00
£1,500,001 - £200,000
£2,200.00
£2,640.00
£2,000,000 and over
Please request a written quote

We will charge additional fees when acting for your mortgage lender (as well as yourself) for the preparation of security documentation and reporting on title of £250 plus VAT. 

Other Fees

To be added to the above are the administration costs of the following

Other Fees
Fee
Total Cost (incl VAT)
Telegraphic Transfer Administration Fee per transfer
£35.00
£42.00
Company Search Administration Fee (if company search is necessary)
£35.00
£42.00
Client Identity Verification and Due Diligence
£30.00
£36.00
Third Party Lawyer Verification and Due Diligence
£20.00
£24.00

 

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Stamp Duty and Land Registry fees. We handle the payment of the disbursements on your behalf.

We will also have to pay out disbursements as follows:- 

Search Fees (Incl of VAT)
£250.00 to £500.00
Land Registration Fees (no VAT)
£20.00 to £910.00
Bankruptcy Search (no VAT)
£2.00 per person
Pre-completion Search (no VAT)
£3.00

 

Stamp Duty Land Tax

The amount of Stamp Duty Land Tax payable depends on the purchase price of your property and your circumstances. You can calculate the amount you will need to pay by using HMRC’s website (www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the Welsh Revenue Authority’s website (https://lttcalculator.wra.gov.wales/).

We do not advise on Stamp Duty reliefs available, although we will help you complete the Stamp Duty Transaction Form.

Land Registry Registration Fee

The Registration Fee you will pay depends on the purchase price of your property and the application type.  You can calculate the exact amount you will need to pay be using the Land Registry’s website (http://landregistry.data.gov.uk/fees-calculator.html).

Details of our Services and Key Stages to the Transaction

  • Take your instructions and send out to you our Terms and Business
  • Request up to £500 on account of the searches
  • Check finances are in place to fund purchase and contact lender's solicitors if needed
  • Receive in and advise on the pre-contract pack
  • Carry out property searches
  • Obtain further planning documentation if required
  • Raise any pre-contract enquiries of the seller's solicitor
  • Advise you on the documents and information received
  • Go through the conditions of your mortgage offer with you
  • Report to you finally and send the contract to you for signature
  • Draft a Transfer Deed
  • Agree a completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened (at this point the contract will be binding on all parties)
  • Obtain pre-completion searches
  • Prepare a Statement of Account and arrange for all monies needed to be received from lender and you
  • Complete your purchase
  • Deal with payment of Stamp Duty Land Tax
  • Deal with application for registration at HM Land Registry

 

How long will my house purchase take?

Developers usually require exchange to take place within 28 days of our receipt of the draft Contract papers for the Property.  However, if the property is not ready for occupation, completion will be on notice.  This means that once the Property has been signed off by Buildings Regulations as complete, the Developer will give us 10 working days’ notice to complete your purchase.

We will of course advise you of the estimated date of completion for the Property prior to exchange and a longstop date will be included in most contracts.  If the Property is not finished by the longstop date, you will have the option to withdraw from the purchase without penalty.