How much will my move cost?
Obviously, solicitors’ charges do vary between different firms but most solicitors are willing to give you a fixed written estimate of their fee for dealing with your sale and/or purchase. The solicitor’s fee is subject to VAT. There will also be certain disbursements which are payments which your solicitor has to make on your behalf. These are not subject to VAT.
If you are buying, the following disbursements apply (approximate figures):
The fee payable to the Local Authority for providing a local search which confirms that there are no matters adversely affecting the property to the knowledge of the Council. This fee is usually £100, payable to London Borough of Barnet.
Other minor disbursements such as land charges and bank transfer fees will be about £30
Stamp Duty of 1% of the purchase price is payable on properties between £125,000 and £250,000. For purchases over £250,000 and up to £500,000 the stamp duty increases to 3%. For properties over £500,000 and up to £1,000,000 the stamp duty is 4%, and for properties over £1,000,000 the stamp duty is 5% and 7% stamp duty over £2,000,000.
The HM Land Registry fee which is between £80 to £400 (for properties in the range of £50,000 to £300,000), depending on the exact price of the property.
If you are selling the only disbursements are the HM Land Registry fee of up to £26 for providing up-to-date office copies of the Land Register relating to your property, any payments for copies of planning documents required by the other side and also bank charges.