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    Shared ownership PURCHASE legal costs: How much?

     £96,250 for a 25% share (full market value of a new-build property £385,000)

    ITEM

    HUMPHREYS & CO. APPROACH:

    NO EXTRAS

    ANOTHER APPROACH:

    EXTRA ADD-ONS

    Time charges

    Charges

    VAT

    Charges

    VAT

    Time charges

          £695.00

         £139.00

          £695.00

          £139.00

    Office supplies charges

           £83.40

           £16.68

             £0.00

             £0.00

    Bank-to-bank transfer charge

           £35.00

             £7.00

           £40.00

             £8.00

    Total (including VAT)

         £976.08

          £882.00

    Expenses

    SDLT* (varies with rent & lease length)

              £0.00

              £0.00

    Land Registry registration fee

            £80.00

            £80.00

    Complete set of searches

          £144.51 (inclusive of VAT)

          £146.50

    Bankruptcy search fee
    (£2.00 per person)

             £2.00

             £2.00

    Land Registry search fee

             £3.00

             £6.00

    Total

       £226.51 (SDLT* element varies)

       £234.50 (SDLT* element varies)

    Time charge extras (most transactions)

    ID verification

             £0.00

             £0.00

           £15.00

             £3.00

    Submission of SDLT return

             £0.00

             £0.00

           £60.00

           £12.00

    Acting for lender

             £0.00

             £0.00

          £175.00

           £35.00

    Completion within 2 weeks of exchange of contracts

             £0.00

             £0.00

           £95.00

           £19.00

    Leasehold supplement

             £0.00          £0.00

          £100.00

           £20.00

    Shared ownership supplement

             £0.00          £0.00

          £100.00

           £20.00

    New build supplement

             £0.00          £0.00

          £150.00

           £30.00

    Total (including VAT)

             £0.00

          £834.00

    Total costs all-in for routine transaction (most cases)

       £1,202.59

    (of which NIL attributable to SDLT*)

       £1,950.50

    (of which NIL attributable to SDLT*)

    Time charge extras (occasional transactions)

    Dealing with licence to assign or deed of covenant

             £0.00

             £0.00

          £125.00

           £25.00

    Dealing with an adult occupier

             £0.00

             £0.00

           £60.00

           £12.00

    Dealing with a gifted deposit

           £90.00*

           £18.00**

         £120.00

           £24.00

    Simultaneous exchange and completion (£175 plus VAT but £95 plus VAT of which shown above)

             £0.00

             £0.00

           £80.00

           £16.00

    Total add-ons in occasional transactions (including VAT)

    £108.00***

    £462.00

    * (+ £45 for each subsequent gifted deposit)
    ** (+ £9 for each subsequent gifted deposit)
    *** (+ £54 for each subsequent gifted deposit)

    Notes

       Humphreys & Co. request an initial on-account payment of £265.00 (applied against totals above i.e. not extra).

    •   Humphreys & Co. offers its clients no-move-no-fee terms, meaning that if the transaction does not reach completion you will only be invoiced for any expenses already incurred at the time you decide not to proceed.