Our Prices

Purchase of New Build Property

Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying and selling a home. We will guide you through each step of the transaction and tailor our service to your personal requirements, so you get exactly the service you need.

When it comes to a property transaction, there are important decisions you need to make and we are here to ensure that your all your legal obligations are met. There are lots of boxes to tick and we want to assist you in your transaction as quickly and as efficiently as possible.

Purchasing a new build home is a fantastic way of buying your new home without the worry of repairs and redecoration that can often be present in older properties.

The conveyancing process differs greatly from buying a residential property in the standard way and can be a complex transaction requiring advice on planning permissions, planning agreements and warranty schemes.  With the added pressures of meeting the developers strict deadlines for exchange of Contracts and completion, Malcolm C Foy & Co can offer a dedicated, experienced team, ensuring that your transaction progresses as smoothly and as stress-free as possible.

Why Us

We have an experienced team who understand the stresses involved in a property transaction. Our approach is a simple – we provide a first-class service from our expert team who make the difference by taking care of all the important legal details and removing any confusion and uncertainty from the process of purchasing a property.

Our team are made up of highly qualified professionals who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner.

We also recognise that communication is key, especially where there are complex issues to deal with, so will ensure you are always kept up-to-date and get answers to your questions in plain English.

We want you to feel confident that you are a priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. We know property is often the biggest investment you have, so we want to offer a reliable, first-class service to protect that investment, while giving you value for money with no hidden fees.

We are proud to hold the CQS Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Pricing

We know how important cost is when deciding who to use for your conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.

We offer a very competitive package for our new build clients and legal fees. Our fees cover all 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.

Property Value (Standard Purchase)

  • £0.00 - £80,000.00

Fees and Disbursements

  • Legal Fee £450.00 plus vat
  • Telegraphic Transfer fee £25.00 plus vat
  • Electronic ID fee £15.00 plus vat (per person)
  • Search fees £175.44 inc vat
  • Land Registry search fee £3.00
  • Land Charges search fee £2.00 per name
  • Land registry fee (see scale below)

Property Value (Help to Buy Scheme)

  • £0.00 - £80,000.00

Fees and Disbursements

  • Legal Fee £650.00 plus vat
  • Telegraphic Transfer fee £25.00 plus vat
  • Electronic ID fee £15.00 plus vat (per person)
  • Search fees £175.44 inc vat
  • Land Registry search fee £3.00
  • Land Charges search fee £2.00 per name
  • Land registry fee (see scale below)

Our fees increase by £50.00 plus VAT per £50,000.00 increase in purchase price.

HM Land Registry Registration Fees

  • Purchase Price
  • £0.00 – £80,000.00 fee £40.00
  • £80,000.01 – £100,000.00 fee £80.00
  • £100,000.01 – £200,000.00 fee £190.00
  • £200,000.01 – £500,000.00 fee £270.00

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty Land Tax

This will depend on the purchase price of your property. 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.

Additional cost information

Factors that may lead to an increase in cost include:

  • If a legal title is defective or part of the property is unregistered
  • If we discover building regulations or planning permission has not been obtained
  • If crucial documents, we have previously requested from you have not been provided to us in good time
  • If you require completion within 2 weeks of instructing us

We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. If during the transaction there is a new development, additional costs may arise due to the particular circumstances of the transaction, or in response to additional advice or recommendations from ourselves  We will advise you and if that is the case, we will inform you about any additional costs when they arise.  Please see a non-exhaustive list of examples and the fees we charge below:

  • Unregistered Property £100.00
  • Effecting Indemnity Policy £40.00
  • Repayment of Loan on condition of Mortgage Offer £75.00
  • Reconstitute Lost Title Deeds £200.00
  • Leasehold Titles £150.00
  • Dealing with Solar Panels £125.00
  • Statutory declaration (from) £125.00
  • Declaration of trust £150.00
  • Licence to Occupy £100.00
  • Obtaining Copies of Lost Deeds £150.00
  • Extensive Additional Enquiries £50.00
  • Dealing with Second Mortgage Loan (or top up loan) £50.00
  • Removal of Restriction£100.00
  • Joint Access Deeds £250.00
  • Discharge of second charge £50.00
  • Intensive Client Attendance £100.00

What happens if the transaction does not complete

If the transaction does not complete we shall make a charge for the work carried out up to the date / cessation as follows:

Stage:1      Upon commencement of drafting documentation or perusing draft documentation received we will make a charge that represents 25% of the fees quoted.

Stage: 2     Upon finalising the draft documentation we will make a charge up to a maximum of £250.00 plus VAT.

Exclusions

We do not undertake tax advice.

    Time Scales

    On reservation the developer will usually require exchange of Contracts within 4 weeks.  Some developers are able to offer an extension on this depending on the circumstances of the transaction.

    For any new build transaction, the timescales are subject to change depending on:

    • Number of parties in any chain
    • Whether you have a mortgage in place
    • The timescales given by your developer at reservation
    • Whether you are using the Help to Buy Equity scheme

    A typical transaction can take around 6 weeks to reach exchange of Contracts, with the completion date being when the property is built complete.  It is possible to achieve exchange of Contracts earlier than this and most developers to set a reservation period of 4 weeks to achieve exchange of Contracts.  However, if any of the above apply, or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.

    The typical process for your new build transaction

    To find out more about the new build purchase procedure, please download our PDF guide.

    Key Milestones

    With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

    • Taking your instructions and giving initial advice based on the information you have provided
    • Checking finances are in place to fund the purchase and contacting the lender’s solicitors if needed
    • Receiving and advising on Contract documents
    • Undertaking searches
    • Obtaining further planning documentation if required
    • Making any necessary enquiries of the developers solicitor
    • Providing advice on all documents and information received
    • Advising you of the mortgage offer conditions
    • If applicable, advising you of the Help to Buy Scheme conditions and obtaining necessary documentation to proceed to exchange of Contracts
    • Finalising exchange of Contracts
    • Receiving notice from the developer of the completion date (the date from which you will legally own the property)
    • Ensuring all monies have been received from you and the lender(s)
    • Completing the purchase
    • Dealing with payment of Stamp Duty/Land Tax
    • Completing and submitting an application for registration at the Land Register

    Our team

    Our team have over 15 years’ experience in handling new build transactions.  Donna Moore is a Licensed Conveyancer and Head of Department for the new build team.

    Donna Moore - Licensed Conveyancer

    Donna is Head of Department of the new build team and has over 15 years’ experience in conveyancing transactions.  Donna has been part of the Malcolm C Foy & Co team for 18 years and is recommended by a number of developers and clients.  Donna is experienced in all matters of conveyancing, including freehold and leasehold purchase and sale transactions, the Help to Buy Equity Scheme, the Forces Help to Buy Scheme and the Help to Buy ISA Scheme.

    Donna is assisted by Kelly Jones and Megan Cockcroft

    Angelika Mieszczak - Licensed Conveyancer

    Angelika joined the Malcolm C Foy & Co team in 2013.  Angelika has since qualified as a Licensed Conveyancer.  In addition to that, she has also graduated from Sheffield Hallam University with a degree in BA (Honours) Business Studies.  Angelika specialises in all aspects of conveyancing including plot part exchanges and freehold and leasehold transactions.  Angelika is also fluent speaking in Polish.

    Angelika is assisted by Annette Parkin and Morgan Rumney

    For more information about New build purchases, please contact:

    Mrs Donna Moore or Miss Angelika Mieszczak in our new build conveyancing team on 01302 340005 or by email to info@malcolmcfoy.co.uk