Our Costs

Residential Conveyancing

Under SRA rules, we are required to publish information on the fees we charge for certain types of work. A summary of our costs for residential conveyancing can be found below.

Purchase of a residential freehold property

Our fees cover the legal work in connection with the purchase of your property, including dealing with the registration of the title with HM Land Registry and making a Stamp Duty Land Tax (SDLT) return if the property is in England or a Land Transaction Tax (LTT) if the property you purchase is in Wales. We will also forward your payment of this tax.

We base our legal fees according to the purchase price of your property as follows :

  • Up to £300,000                  £800.00
  • £300,000 – £400,000       £850.00
  • £400,000 – £500,000       £900.00
  • Over £500,000                   0.25% of price

If we are to act for a Mortgage Lender as part of the transaction there will be an additional £100.00 to be added to each of the above fees.

 

Purchase of a residential leasehold property

Our fees cover the legal work in connection with the purchase of your property, including dealing with any Management Company, the registration of the title with HM Land Registry and making a Stamp Duty Land Tax (SDLT) return if the property is in England or a Land Transaction Tax (LTT) if the property you purchase is in Wales. We will also forward your payment of this tax.

We base our legal fees according to the purchase price of your property as follows :

  • Up to £300,000                                                                  £1,000.00
  • £300,000 – £500,000                                                       £1,500.00
  • Over £500,000                                                                    0.40% of price

If we are to act for a Mortgage Lender as part of the transaction there will be an additional £100.00 to be added to each of the above fees.

 

Sale of a residential freehold property

Our fees cover the legal work in connection with the sale of your property including paying off any Mortgages or loans that we have been made aware are secured against the property.

We base our legal fees according to the sale price of your property as follows :

  • Up to £300,000                                                                       £800.00
  • £300,000 – £400,000                                                            £850.00
  • £400,000 – £500,000                                                            £900.00
  • Over £500,000                                                                        0.25% of price

 

Sale of a residential leasehold property

Our fees cover the legal work in connection with the sale of your property including dealing with any Management Company, paying off any Mortgages or loans that we have been made aware are secured against the property.

We base our legal fees according to the sale price of your property as follows :

  • Up to £300,000                                                                  £1,000.00
  • £300,000 – £500,000                                                       £1,500.00
  • Over £500,000                                                                   0.40% of price

 

Mortgage or Re-Mortgage on a residential property

Our fees cover the legal work in connection with you taking out a Mortgage on a property you already own or having a Re-Mortgage on a property you already own, including dealing with the registration of the Mortgage at HM Land Registry

Legal Fees for Mortgage or Re-Mortgage                                       £600.00

There will also be telegraphic transfer fees of between £20 and £35 per transfer for any monies transferred through the banking system for any of these property matters.

VAT is payable on all of the above fees.

 

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry Fees.   The third party costs which can be incurred during the purchase process are:

 

Freehold residential Purchase – Mortgage or Re-Mortgage

  • Local Search Fee
  • Drainage Search Fee
  • Chancel Search Fee
  • Environmental Search Fee
  • HM Land Registry Fee
  • Stamp Duty Land Tax
  • Stamp Duty Land Tax Submission Fee

 

Freehold residential Sale

  • Office Copy Entries

These are required where your property is Registered at HM Land Registry and are copies of the information held at HM Land Registry about the property being sold.   HM Land Registry requires a payment for these copies to be obtained.

 

Leasehold residential Purchase

There are the same disbursements due in a leasehold purchase as those listed above under Freehold Purchase but the following may also apply and if so, they will be set out in the individual lease relating to the property along with the Fee amount and these are :

  • Notice of Transfer of Lease Fee
  • Notice of Charge (Mortgage) Fee if you are having a Mortgage to purchase the property
  • Deed of Covenant Fee
  • Certificate of Compliance Fee

There are also likely to be Ground Rent and Service Charge payments which would apply throughout your ownership of the property. We would be able to inform you of these amounts when the information was made available to us.

 

Leasehold residential Sale

  • Office Copy Entries
  • Management Company Information Pack

Office Copies are required where your property is Registered at HM Land Registry and are copies of the information held at HM Land Registry about the property being sold.   HM Land Registry requires a payment for these copies to be obtained.

The Management Company Information Pack sets out certain information which is required from the Management Company and we will only know this fee once a transaction is underway.

No two transactions are the same and whilst we hope all of this information gives an over-view of costs and further amounts to take into account when embarking upon a residential conveyancing transaction a detailed quotation can be given, when more details of the individual transactions would be available. The above legal fees are based on the assumptions that

  • The transaction is reasonably straight forward 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.
  • Clear instructions are given.
  • 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
  • If leasehold it is the assignment of an existing lease and not the grant of a new lease

Only when we have full details of the transaction can we give you a definitive quotation including the legal fees and other costs.

 

Timescales

 

Freehold residential Purchase

The speed of the transaction will generally depend upon the length of the conveyancing “chain”.   Which means how many separate transactions are involved ie if you are a first time buyer, there is no transaction below you in the “chain”.   If you are selling your home to purchase another one, there will be transactions below you in the “chain.

Therefore how long it will take from your offer being accepted until the purchase is completed will depend on several factors. The average process takes between 8 – 12 weeks. It can be quicker or slower, depending on the parties in the chain.

 

Leasehold residential Purchase

The position is similar as that with a Freehold Residential purchase. However there are other factors which may increase the average time of 8 – 12 weeks, such as dealing with the Management Company and the complexity of the Lease on the property.

If the leasehold property you are purchasing requires an extension of the lease this can take significantly longer, between 3 and 6 months and there would be additional fees incurred.

 

Freehold residential Sale

The speed of the transaction will generally depend on the length of the conveyancing “chain”. Which means how many separate transactions are involved ie if a first time buyer is purchasing your property there is no other transaction above you in the chain. If the person buying your property has one to sell there will be transactions above you in the “chain”.

Therefore, how long it will take from you accepting an offer until the sale is completed will depend on several factors. The average process takes between 8 – 12 weeks. It can be quicker or slower depending on the parties in the chain.

 

Leasehold residential Sale

The position is similar as that with a Freehold Residential Sale. However there are other factors which may increase the average time of 8 – 12 weeks, such as dealing with the Management Company and the complexity of the Lease on the property.

If the leasehold property you are selling requires an extension of the lease this can take significantly longer, between 3 and 6 months and there would be additional fees incurred.

 

Mortgage or Re-Mortgage on residential property

The speed of the transaction will generally depend on the time the offer of Mortgage takes to be given by the Lender. As an estimate following receipt of the Mortgage offer the Mortgage should be able to be completed within 2 – 4 weeks. This is based on the Mortgage Offer being straight forward with no exceptional conditions that are to be complied with.

 

Stages of the Process

The precise stages involved in the process of property work vary according to the circumstances. However, below are some key stages to note :

 

Residential freehold Purchase

  • Take your instructions
  • Receive and advise on contract documents
  • Carry out necessary searches
  • Obtain further planning documentation if required
  • Make necessary enquiries of seller’s solicitor
  • Advice on documents and information received and report to you
  • Report to you on the Mortgage Offer received
  • Send final Contract Agreement to you for signature and return
  • Agree a completion date with you (the date on which the property will become yours)
  • Exchange Contracts with the agreed completion date – this now binds you to purchase the property on the completion date agreed
  • Arrange for all monies needed to be received from both the lender and you
  • Send any further documentation to you for signature and return
  • Complete purchase
  • Deal with payment of Stamp Duty Land Tax
  • Deal with application for registration at the Land Registry

 

Leasehold residential Purchase

  • Take your instructions
  • Receive and advise on contract documents
  • Go through the leasehold documentation received and report to you on this
  • Carry out necessary searches
  • Obtain further planning documentation if required
  • Make necessary enquiries of seller’s solicitor
  • Advice on documents and information received and report to you
  • Report to you on the Mortgage Offer received
  • Send final Contract Agreement to you for signature and return
  • Agree a completion date with you (the date on which the property will become yours)
  • Exchange Contracts with the agreed completion date – this now binds you to purchase the property on the completion date agreed
  • Arrange for all monies needed to be received from both the lender and you
  • Send any further documentation to you for signature and return
  • Complete purchase
  • Deal with payment of Stamp Duty Land Tax
  • Send Notice of Transfer to Management Company
  • Send Notice of Charge to Management Company
  • Deal with application for registration at the Land Registry

 

Freehold residential Sale

  • Taking your instructions to include any information you have on any Mortgages or loans that are secured against the property
  • Obtaining title information and confirming you are the legal owner of the property or you are legally able to sell the property ie under a Grant of Probate.
  • You completing and returning Property Information Form, Fixtures and Fittings Form and any additional information we request.
  • Drafting the Contract and sending this together with Information forms completed by you to the Purchasers Solicitors
  • Dealing with any enquiries raised by Sellers Solicitors
  • When final Contract approved sending to you for signature and return.
  • Agree a completion date with you (the date upon which you will need to leave the property and it will no longer belong to you)
  • Exchange Contracts with the agreed completion date – this now binds you to sell the property on the completion date agreed
  • Request redemption figures from any lenders who have Mortgages or loans secured against the property
  • Send the Transfer document to you for signature and return
  • Send a Statement to you showing either monies that are required to complete the sale or monies which will be payable to you after the sale
  • Complete the sale to include paying off any Mortgages or loans against the property
  • Send title paperwork to the purchaser’s solicitors

 

Leasehold residential Sale

  • Taking your instructions to include any information you have on any Mortgages or loans that are secured against the property
  • Obtaining title information and confirming you are the legal owner of the property or are legally able to sell the property ie under a Grant of Probate
  • Obtaining Information Pack from Management Company
  • You completing and returning Property Information Form, Fixtures and Fittings Form and any additional information we request.
  • Drafting the Contract and sending this together with Information forms completed by you and any other title information to the Purchasers Solicitors
  • Dealing with any enquiries raised by Sellers Solicitors
  • When final Contract approved sending to you for signature and return.
  • Agree a completion date with you (the date upon which you will need to leave the property and it will no longer belong to you)
  • Exchange Contracts with the agreed completion date – this now binds you to sell the property on the completion date agreed
  • Request redemption figures from any lenders who have Mortgages or loans secured against the property
  • Send the Transfer document to you for signature and return
  • Send a Statement to you showing either monies that are required to complete the sale or monies which will be payable to you after the sale
  • Complete the sale to include paying off any Mortgages or loans against the property
  • Send title paperwork to the purchaser’s solicitors

 

Mortgage or Re-Mortgage on a residential property

  • Taking your instructions
  • Obtaining title information to ascertain that you are the legal owner of the property being Mortgaged and to check if there are any existing Mortgages or loans secured against the property.
  • Carrying out any necessary Searches
  • Receiving Mortgage Offer from Lender and reporting on this to you in particular noting any special conditions of the Mortgage.
  • When all necessary searches are returned reporting on these if necessary
  • Agreeing a date with you as to when the Mortgage should be completed.
  • If there are existing Mortgages or loans on the property obtaining the amounts required to pay these off as at the completion date.
  • Reporting on the Title to the Lender and requesting funds.
  • Accounting to you so that you will see the monies that will be available
  • Completing the Mortgage on the agreed date
  • Paying off any existing Mortgages or loans
  • Sending any monies due to you
  • Registering the Mortgage at HM Land Registry

 

PLEASE NOTE THE FOLLOWING :

 

Letter of Engagement

When we have full details of the transaction we will send you a formal Letter of Engagement. This will set out the legal fees and other costs (disbursements) and will form the Contract between us. It will also state what we will charge when work is carried out but the transaction does not proceed. This is known as “abortive” work.

 

Tax

We do not advise within these legal fees on any taxation issues.

 

Joint Ownership

We do not advise within these legal fees on any joint ownership issues, but can refer you to someone in the firm who will.

 

Planning and Building Regulations

We will report to you on any planning permissions or building regulation consents received by us from your seller, but otherwise we will not investigate these issues.

<< Back To Our Costs

Employment Tribunal Costs

Read More

Licensing Costs

Read More

Probate Costs

Read More

Debt Recovery Costs

Read More