Residential Conveyancing
INTRODUCTION
As part of our professional rules, we aim to ensure that anyone wishing to use our services has the information they need to make an informed choice of legal services provider, including understanding what the costs may be.
PURCHASE OF A PROPERTY
OUR FEES
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.
| Value of Property | Typical Legal Fees | |
| Freehold | Leasehold | |
| £0-175000 | £650.00 (£780.00 incl. vat) | £850.00 (£1020.00 incl. vat) |
| £175,001 to £200,000 | £700.00 (£840 incl. vat) | £900.00 (£1080.00 incl. vat) |
| £200,001 to £225,000 | £750.00 (£900.00 incl. vat) | £950.00 (£1140.00 incl. vat) |
| £225,001 to £250,000 | £800.00 (£960.00 incl. vat) | £1000.00 (£1200.00 incl. vat) |
| £250,001 to £275,000 | £850.00 (£1020.00 incl. vat) | £1050.00 (£1260.00 incl. vat) |
| £275,001 to £300,000 | £900.00 (£1080.00 inc vat) | £1100.00 (£1320.00 incl vat) |
| £300,001 to £350,000 | £1000.00 (£1200.00 inc vat) | £1200.00 (£1440.00 incl vat) |
| £350,001 to £400,000 | £1150.00 (£1380.00 inc vat) | £1250.00 (£1500.00 incl vat) |
| £400,001 to £450.000 | £1200.00 (£1440.00 inc vat) | £1400.00 (£1680.00 incl vat) |
| £450,001 to £500,000 | £1350.00 (£1620.00 inc vat ) | £1550.00 (£1860.00 incl vat) |
| £500,001 to £600,000 | £1500.00 (£1800.00 inc vat) | £1700.00 (£2040.00 incl vat) |
| £600,001 to £750,000 | £1750.00 (£2100.00 inc vat ) | £1950.00 (£2340.00 incl vat) |
| Over £750,001 | POA | POA |
| New Build Property £0 – £500,000 Over £500,001 | £1500.00 (£1800.00 incl vat) POA | £1700.00 (£2040.00 incl vat) POA |
VAT is currently 20%
ADDITIONAL FEES
| Costs (excl. VAT) | Costs (incl. VAT) | |
| Unregistered Property | £200.00 | £240.00 |
| Purchase with a High-Street Lender Mortgage | £75.00 | £90.00 |
| Purchase with a Non-High-Street Lender Mortgage | POA | POA |
| Gifted Deposit each | £100.00 | £120.00 |
| Dealing with Stamp Duty Land Tax and submission fee | £25.00 | £30.00 |
| Help To Buy ISA (for First Time Buyers) (price per ISA) | £50.00 | £60.00 |
| Statutory Declaration | £75.00 | £90.00 |
| Statement of Truth | £50.00 | £60.00 |
| Dealing with Freehold Management Pack | £150.00 | £180.00 |
WHAT IS INCLUDED?
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. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on transaction and for example 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.
- HM Land Registry fee: variable dependant on the property purchase price
- Search fees: £350.00 plus vat (estimated depending on area of property ) for standard search pack required by your lender
- VAT on search fees
- Electronic money transfer fee: £42.40
- Lenders panel fee £30.00 plus VAT
- AML/ID Checks £14.40 inc VAT each party
- E-Case Management Fee :14.40 inc VAT per party
Anticipated Disbursements*
| Typical costs | |
| Notice of Transfer fee: This fee if chargeable is set out in the lease. | £50 – £200 |
| Notice of Charge fee (if the property is to be mortgaged). This fee is set out in the lease. | £50 – £150 |
| Deed of Covenant fee: This fee is provided by the management company for the property and can be difficult to estimate. | £50 – £200 |
| Certificate of Compliance fee: To be confirmed upon receipt of the lease. | £50 – £200 |
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
STAMP DUTY OR LAND TAX (ON PURCHASE)
This depends 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.
WHAT IS NOT INCLUDED?
We do not report on structural surveys which are outside our area of expertise
HOW LONG WILL MY HOUSE PURCHASE TAKE?
For any transaction, the timescales are subject to change depending on when your offer is accepted and factors involved such as:
- Number of parties in the chain
- Whether you have a mortgage in place
- Whether you are buying a new build property
A typical transaction will take between 10-14 weeks. 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.
KEY STAGES INVOLVED
The precise stages involved in the purchase of a residential property vary according to the circumstances:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Draft Transfer (if Leasehold purchase)
- Advise you on joint ownership (if Leasehold purchase)
- Obtain pre-completion searches (if Leasehold purchase)
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
OUR FEES ASSUME THAT:
- 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
- This is the assignment of an existing lease and is not the grant of a new lease
- The transaction is concluded in a timely manner and no unforeseen complications arise
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
FACTORS THAT WOULD TYPICALLY INCREASE THE COST OF THE SERVICE
- Legal title is defective, or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents we have previously requested from the client have not been provided
SALE OF A PROPERTY
OUR FEES
| Value of Property | Typical Legal Fees | |
| Freehold | Leasehold | |
| £0- £225,000 | £650.00 (£780.00 incl. vat) | £750.00 (£900.00 incl. vat) |
| £225,001 to £250,000 | £750.00 (£900.00 incl. vat) | £850.00 (£1020.00 incl. vat) |
| £250,001 to £275,000 | £800.00 (£960.00 incl. vat) | £900.00 (£1080.00 incl. vat) |
| £275,001 to £300,000 | £850.00 (£1020.00 incl. vat) | £950.00 (£1080.00 incl. vat) |
| £300,001 to £350,000 | £900.00 (£1080.00 inc vat) | £1000.00 (£1200.00 incl vat) |
| £350,001 to £400,000 | £1000.00 (£1200.00 inc vat) | £1100.00 (£1320.00 incl vat) |
| £400,001 to £450.000 | £1100.00 (£1320.00 inc vat) | £1200.00 (£1440.00 incl vat) |
| £450,001 to £500,000 | £1200.00 (£1440.00 inc vat ) | £1300.00 (£1560.00 incl vat) |
| £500,001 to £600,000 | £1300.00 (£1560.00 inc vat) | £1400.00 (£1680.00 incl vat) |
| £600,001 to £750,000 | £1500.00 (£1800.00 inc vat ) | £1600.00 (£1920.00 incl vat) |
| Over £750,001 | POA | POA |
| New Build Property £0 – £500,000 Over £500,001 | POA POA | POA POA |
VAT is currently 20%
WHAT IS INCLUDED?
- Obtaining mortgage redemption statement and redeeming the mortgage on completion.
- Settling the Estate Agents Invoice on completion
ADDITIONAL FEES
| Costs (excl. VAT) | Costs (incl. VAT) | |
| Sale with Non High Street Lender/charging orders | £75.00 | £90.00 |
| Redemption of Help to Buy Equity Loan | £150.00 | £180.00 |
| Unregistered Property | £150.00 | £180.00 |
| Lenders panel fee | £30.00 | £36.00 |
| AML/ID Checks | 12.00 | £14.40 |
HOW LONG WILL MY HOUSE SALE TAKE?
How long it will take from the offer being accepted until the transaction is completed depends on a number of factors – some of which are outside of our control. The average process takes between 10-14 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you have a first time buyer, it would normally reduce the time taken. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would also apply.
KEY STAGES INVOLVED
- Take instructions and give initial advice
- Obtain official copies of the Land registry title
- Supply the protocol documents to be completed by the vendor
- Draft the contract and collate the documents for the contract pack
- Send the contract and protocol documents to the buyer’s solicitor
- Forward enquiries raised by the buyer to the client
- Answer legal enquiries raised by the buyer
- Obtain redemption statements
- If required obtain indemnity Insurance quotation
- Approve the transfer document
- Obtain agents invoice
- Draft completion statement and send to client
- Send the transfer document and contract to client for signature
- Agree completion date
- Exchange contracts
- Obtain agents invoice
- Complete on sale
- Redeem mortgage
- Settle estate agents’ invoice
- Forward property documents to buyer’s solicitor
- Forward completion funds to client’s nominated account
REMORTGAGE OF A PROPERTY
OUR FEES
| Fixed fee (from): | £600.00 | excl. VAT |
| VAT at 20%: | £120.00 | |
| Total | £720.00 | + disbursements (see below) |
ADDITIONAL COSTS
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. The disbursements which we anticipate will apply are set out separately below.
- HM Land Registry fee: variable dependant on the property purchase price
- Search fees: £300.00 estimated (depending on the area of the property) for standard search pack required by your lender
- VAT on search fees at 20%
- Electronic money transfer fee: £26.40
- Companies House fee if purchasing or remortgaging in a limited company entity: £23
- Bankruptcy search: £7.80 incl. VAT per person
- Priority search: £8.80 per title number
- Dealing with Landlord/Managing agent requirements if leasehold : £150.00 plus. VAT
HOW LONG WILL MY REMORTGAGE TAKE?
A typical remortgage takes between 6 and 8 weeks, however, it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
KEY STAGES INVOLVED
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
- Requesting the Title Deeds and Redemption Statement
- Obtaining Official Copies of the Title
- Checking the Title
- Checking Official Copies
- Leasehold properties will require the lease to be checked and enquiries made if relevant
- Searches
- Checking the mortgage offer
- Preparing for completion
- Requesting final redemption statement
- Requesting the mortgage advance
- Completion
- Registration
TRANSFER OF EQUITY
OUR FEES WITHOUT A MORTGAGE
| Fixed fee (from): | £500.00 | excl. VAT |
| VAT at 20%: | £100.00 | |
| Total | £600.00 | + disbursements (see below) |
OUR FEES WITH A RE-MORTGAGE
| Fixed fee (from): | £550.00 | excl. VAT |
| VAT at 20%: | £110.00 | |
| Total | £660.00 | + disbursements (see below) |
ADDITIONAL COSTS
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. The disbursements which we anticipate will apply are set out separately below.
- HM Land Registry fee: variable dependant on the property purchase price
- Search fees: £300.00 estimated (depending on the area of the property) for standard search pack required by your lender
- VAT on search fees at 20%
- Electronic money transfer fee: £26.40
- Companies House fee if purchasing or remortgaging in a limited company entity: £23
- Bankruptcy search: £3.20 incl. VAT per person
- Priority search: £4.20 per title number
- Dealing with Landlord/Managing agent requirements if leasehold : £200 plus. VAT
- Lenders panel fee £30 plus VAT
HOW LONG WILL MY TRANSFER OF EQUITY TAKE?
A typical transfer takes between 4 and 6 weeks, however, it can be longer if there are any complications such as restrictions on the title. The process may also take longer if you require a mortgage or searches.
KEY STAGES INVOLVED
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
- Requesting the Title Deeds and Redemption Statement if applicable
- Obtaining Official Copies of the Title
- Checking the Title
- Checking Official Copies
- Leasehold properties will require the lease to be checked and enquiries made if relevant
- Searches
- Checking the mortgage offer if applicable
- Preparing for completion
- Requesting final redemption statement if applicable
- Requesting the mortgage advance if applicable
- Completion
- Registration
