Our quote for the legal work on your residential property purchase will be given on a fixed fee basis, subject to assumptions which are set out below. All legal fees and additional costs quoted on this page include VAT (at the current rate of 20%) where applicable.
The quote that we give you will be based on your individual circumstances and will depend on the specifics of your particular purchase. It will include all of the work needed to purchase your property whether freehold, leasehold, and if you are purchasing with the aid of a mortgage. We will let you know if there is anything that we will need paying for in advance. Once we are ready to complete on your purchase, we will send you a completion statement. If there is an outstanding balance to be paid on the statement this will need to be settled before we can complete your purchase.
TSP legal fees for your Residential Property Purchase: Our VAT inclusive fixed fees for a typical residential property purchase range from £650 for a simple transaction to around £4500 for a complex purchase involving a substantial historic building, for example. These figures may vary in cases with special complications. The graph shows that 80% of our enquiries can expect to receive a quote in-line with the average fee indicated.
We will charge you a VAT inclusive Bank Telegraphic Transfer fee (TT), per transfer, of £36. For a purchase transaction there will usually be at least one charge when we send your purchase money to the seller’s solicitor. If you are purchasing a new build property with the aid of the Help to Buy Scheme we will quote an additional fee to complete the necessary administration of the scheme.
In addition to our fixed fee for the legal work you may also incur the costs shown in the table below. These additional costs are incurred by TSP when buying goods or services on your behalf. They are payable to third parties. We will pass this charge onto you, including VAT, where applicable. More detailed information on these costs can be found here and in the Glossary below.
|SDLT: Based on a property of £350,000||Freehold||Leasehold||Includes VAT?||£ to pay|
|If you are a first time property owner||Yes||Yes||N/A||£2,500|
|If you do not already own, or partly own, another property which is not being sold at the same time||Yes||Yes||N/A||£7,500|
|If you already own another property||Yes||Yes||N/A||£18,000|
In our FAQ section, which you can access by clicking the yellow FAQ tab above related people and related guides below, you will find important information on
- Key stages in your residential property purchase
- Key assumptions about the cost of your residential property purchase
- Key exclusions from the cost of your residential property purchase
- How long will your residential property purchase take?
Your purchase will be progressed by Lawyers in our Residential Property team whose details can be found in related people below. Please read each profile for information on their experience and who within the firm supervises their work. Contact your preferred lawyer who will provide you with a quote tailored to your particular needs.