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.
Please note that our fees are dependent on the value of the property being purchased/sold. A full quote will be provided to you upon request and further details of the property being received. Our minimum fee per transaction is £500 plus VAT and disbursements. We have provided a (non-exhaustive) scale of our fees below as well as a working example below of potential costs for your information.
Scotts Wright Fees
* For leasehold properties add £200.00 plus VAT
Example of Scotts Wright Solicitors fees and disbursements for a purchase of a property at £120,000 in Richmondshire
- Legal fee £500 plus VAT
- Lender Legal Advisor fee** – £150 plus VAT
- Help to Buy ISA Fee*** – £50 plus VAT
- Search fees – Local Authority £106.50
- Drainage & Water £66.50
- Environmental £58.80
- Priority £3.00
- Bankruptcy £2 per person
- HM Land Registry fee £95.00
- Electronic money transfer fee £15 plus VAT
- VAT payable at a rate of 20%
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The cost of the searches can vary depending on the area in which you are purchasing the property and we will be able to confirm the exact cost when a bespoke quote is provided to you. We have provided an indicator of the potential Land Registry fees below but these do depend on the property.
Land Registry Fee
|Property Value||Land Registry Fee Electronic||Land Registry Fee Paper|
|00k – 80k||£20.00||£40.00|
|80,001k – 100k||£40.00||£80.00|
|100,001k – 200k||£95.00||£190.00|
|200,001k – 500k||£135.00||£270.00|
|500,001k – 1||£270.00||£540.00|
|Over 1 mil||£455.00||£910.00|
When purchasing a Leasehold property there are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the terms of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50- £500.
- 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 £500.
- 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 – £500.
* Our fee assumes that:
a. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
b. the transaction is concluded in a timely manner and no unforeseen complications arise
c. all parties to the transaction are co-operative and there is no unreasonable delay from third parties
d. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required
**A Lender Legal Advisor Fee is dependent on the transaction and not always payable
*** A Help to Buy Isa Fee is dependent on the transaction and not always payable
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property and on your individual circumstances. 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 here.
Estimated costs on a sale of a property
Please note that our fees* are dependent on the value of the property being sold as per the above table. A full quote will be provided to you upon request and further details of the property being received. Our minimum fee per transaction is £500 plus VAT and disbursements. We have provided a sample of disbursements below for your information.
- Title Deeds – £6.00 (Freehold) £6.00 (Leasehold)
- Electronic money transfer fee £15 plus VAT per payment
- VAT payable at a rate of 20%
- Management Company Fee – this varies depending on the Management Company but can be in the region of £250 plus VAT (if applicable)