Buying & Selling Property

Whether it’s your first home or a “buy-to-let” investment, everyone seeks to avoid the stress and uncertainty of a long and complicated transaction.

Our property team at EDS are strongly poised to help ensure all matters progress smoothly with an excellent reputation developed locally for fast, efficient transactions with excellent communication and face to face contact.

The team strive to ensure you are kept updated at all stages of the process and promise to talk to you in language you understand avoiding legal jargon.

Crucially, our team are local in the office when you need to talk to them or need advice on any issues as they arise. Call us old fashioned, but we don’t believe in good client service being offered by long distance call centres and anonymous representatives when it comes to property transactions.

Offering services from our Atherstone, Coleshill and Marston Green offices, our team has over 20 years experience on all areas of property law to include sale, purchase, freehold purchases and transfer of equity.

Fees for buying and selling property

 

Sale – Freehold	Fee plus VAT
£0 to £250,000	£900
£250,001 to £350,000	£950
£350,001 to £500,000	£1,000
£500,001 to £750,000	£1,200
£750,001 to  £1,000,000	£1,350

Fees increase by £250 for leasehold sales.

 

Purchase – Freehold	Fee plus VAT
£0 to £250,000	£900
£250,001 to £350,000	£950
£350,001 to £500,000	£1,000
£500,001 to £750,000	£1,200
£750,001 to  £1,000,000	£1,350

Fees increase by £300 plus VAT for leasehold purchases.

An additional cost of £100 plus VAT is charged if purchasing or selling with a mortgage.

On a sale or purchase above £1,000,000, please call our office.

For a leasehold sale and/or purchase, there is a possibility of additional fees associated with obtaining the Leasehold Sales Pack. This could also apply on a freehold property if there is a management company. This is advised on an individual basis. This fee is set by third parties and is often not known at the start of transaction. Please contact us for more information.

 

Other	Fee plus VAT
Purchase of freehold	£700
Transfer of equity and remortgage	£800
Remortgage	£550
Transfer of equity	£700
Overseas client	additional £200
New Build	additional £300
Right to buy (freehold)	£750
Right to buy (leasehold)	£850
Help to Buy scheme	additional £150
Help to Buy ISA	additional £75
Company purchase without a mortgage	additional £100
Company purchase with a mortgage	additional £300
Redeem Target HCA charge	additional £150
Repayment of mortgage upon completion	£36 per mortgage

 

Standard search package*	Fee
Water and drainage, local search, environmental & chancel repair insurance search	£251.90

*All purchases are different. Depending upon conveyance results some additional searches may be required. Fees are dependant on what we are charged by third parties.

 

Telegraphic transfer	Fee
Sending purchase funds to Seller Solicitor	£36 (incl VAT) per transaction

 

Land registry searches and documents*	Fee
Land Registry priority search	£7 (exclusive of VAT)
Land Registry bankruptcy search	£6 (exclusive of VAT) per person
Land Registry office copies	£7 (exclusive of VAT) per document

ID & Source of Funds Check	Fee
Digital Onboarding	30 plus VAT per person
Companies House	Fee
Charge Registration	£14

*When purchasing a property, a buyer will always require a Land Registry priority search. A buyer will only require a bankruptcy search if the purchase is funded by a mortgage.

Value of property	Postal application**	Electronic application***
£0-£80,000	£45	£20
£80,001-£100,000	£95	£40
£100,001-£200,000	£230	£100
£200,001-£500,000	£330	£150
£500,001-£1,000,000	£655	£295
£1,000,001 and over	£1,105	£500

**Postal applications are for registered land.
***Electronic applications are for unregistered land and new build properties.

With some purchases there is a possibility of a stamp duty charge, payable in accordance with Government procedure at the time of purchase. This is advised on an individual basis – please contact us for more information.

 

Stamp duty
Property value/lease premium/transfer value	Stamp duty rate
Up to £125,000 From £125,001 – £250,000	0% 2%
The next £675,000 (from £250,001-£925,000)	5%
The next £575,000 (from £925,001-£1,500,000)	10%
The remaining amount (above £1,500,001)	12%

You will usually have to pay 5% on top of stamp duty rates if buying a new residual property means you will own more than one.

First Time Buyers

If you and any person you are buying with are first time buyers, you can claim a discount (relief) on the stamp duty as follows

First Time Buyer	Stamp duty rate
Up to £300,000	0%
£300,001-£500,000	5%
The remaining amount (above £500,001)	No relief – normal rules apply as above

Please note: the Stamp Duty charges stated above may be reduced in line with current Government concessions

Any balance due to the client	Fee
Next day payment	Free of charge
BACS	Free of charge
CHAPS	£36

Rates if you’re not a UK resident

If you’re not present in the UK for at least 183 days during the 12 months before your purchase you are “not a UK resident” for the purposes of SDLT. You will pay a 2% surcharge on top of normal rates.