New-Build & Shared Ownership Fees
The fees below are our fees for a standard transaction of each type and if your transaction is more complex than usual or if you require additional searches or services the costs may be higher than the examples given. If this is the case, you will be advised of this before any additional costs are incurred above what you have been quoted in your introductory pack.
Every purchase is different, but we will always try to give you the best possible costs information before commencing your transaction. If you have any questions about any of the fees or your transaction generally please email firstname.lastname@example.org or call us on 01489 864110 and we are happy to discuss any costs queries you have without obligation or charge.
New Build Shared Ownership Fees
Re Sale Shared Ownership Purchase Fees
New Build Purchase Fees
Interim or Final Staircasing –Taking further borrowing from your existing Lender
Interim or Final Staircasing –Borrowing from a new Lender
All of the above fees are subject to additional charges for SDLT and Land Registry fees at the prevailing rates for the type and value of the transaction. Example Rates are given below (but for new shared ownership homes and staircasing specific rates may apply. Please contact us for further details)
Land Registry Fee Scales
Stamp Duty Land Tax Rates
An additional 3% of the full value is added if you will own multiple properties at completion. Rates for First Time Buyers vary as of November 2017, we will confirm if this applies to you.
Please note: We have arrangements with certain introducers where the prices they offer may differ from the prices displayed on our website. Sometimes we may pay an introducer a percentage of our fees for passing your details to us. This is called a Referral Agreement and this is a fee we pay to them at no additional cost to you.Where we have entered into such an agreement with an introducer we will note this in our initial quotation to you. In circumstances where the fees quoted under a fee agreement differ from the fees advertised above we will always honour the lowest fee estimate with which you have been provided by us. Please contact us if you have any queries.
Third Party Charges
Developer/Housing Association Solicitor Fees
In the case of nearly every new build property, a fee is charged by the developer’s solicitors for preparing the transfer deed (for a house) or lease (for a flat). Where properties are sold as part of a development it is essential for the obligations contained in these documents to be identical. To ensure this happens, the developer’s solicitors will prepare them. Normally it is the buyer that must pay the associated legal fee. The amount charged is approximately £180-£240 (including VAT) but varies from one developer to another.
Landlord/Management Company Fees
With both re sale and new build leasehold homes there are usually notice fees to pay to confirm your details to the landlord and or management company and administrative fees payable for items required to be sent to or obtained from them such as Deeds of Covenant or Land Registry certificates. Any additional fees being charged by the landlord and or management company will be advised to you as soon as we have checked the title paperwork to your property as these vary from property to property and between different landlords and property managers.
With Staircasing buying increased shares will cost more than the share itself
When it comes to increasing the stake in your property (Staircasing), it’s not just buying the share. There are other costs involved:
Your housing provider will instruct a surveyor to confirm the current market value of the property.
Once we have your Memorandum of Staircasing from the Housing Association, we can confirm any SDLT payable
If you are applying to change your Lender to buy your additional share, or to access better interest rates, you will need to pay the Lenders valuation fee and a mortgage arrangement fee
If you are changing lender or purchasing a final share there may be notice fees to pay to the Housing Association or Management Company to advise them of the change in details.
Quotation Form Download
Scan or email the below form to Newhomes@lawcomm.co.uk
for your no obligation tailored quotation and introductory pack