Conveyancing fees:
VAT is charged at 20% on all transactions unless otherwise specified.
For a freehold residential property sale or purchase
| Up to £100,000 | £725.00 + VAT |
| £100,001 – £200,000 | £895.00 + VAT |
| £200,001 – £300,000 | £1095.00 + VAT |
| £300,001 – £400,000 | £1395.00 + VAT |
| £401,000 – £500,000 | £2350.00 + VAT |
| £501,000 – £1,000,000 | 0.5% of sale / purchase price + VAT |
| Over £1,000,001 | 1% of sale / purchase price + VAT |
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:
Disbursements associated with Sale of Property (disbursements are monies paid to third parties on your behalf):-
Land Registry Official Copies Register & Title – £17.60
AML Search Fees – £9.60 per person
Bank Transfer Fees – £35.00 plus VAT
Cost estimate based on a single client. Add £9.60 for each additional client.
Disbursements associated with the Purchase of Property:- (disbursements are monies paid to third parties on your behalf):-
| Full Search package (varies according to local authority area – these prices are based on Merthyr Tydfil) | £255.20 £270.00 (to include Local Authority, Water & Drainage, Coal Mining and Environmental) |
| Land Registry Searches | £8.80 |
| Bankruptcy Searches | £7.80 (per person) |
| AML Search Fees | £9.60 (per person) |
| HM Land Registration Fee | £ (this depends on the price of the property and whether the property is subject to first registration). The link below to the Land Registry confirms these fees: http://landregistry.data.gov.uk/fees-calculator.html |
| Stamp Duty Land Tax / Land Transaction Tax | This varies depending on the price of the property and whether you own more than one property. You can calculate the amount you will need to pay by using HMRC’s website (https://www.gov.uk/stamp-duty-land-tax) or if the property is located in Wales by using the Welsh Revenue Authority’s website (https://beta.gov.wales/land-transaction-tax-calculator) |
Please note if you are buying a leasehold property then the following additional fees and disbursements may also be payable:-
Our additional Legal Fees acting in a leasehold matter:-
Additional fee of £100-£350 plus VAT depending on whether there is a management company and/or managing agent
Disbursements:-
| Notice of Transfer fee | This fee if chargeable is set out in the lease. The fee varies but is likely to be between £50.00-£150.00 |
| Notice of Charge fee (if the property is to be mortgaged) | This fee is set out in the lease. The fee is usually between £50.00-£150.00 |
| Deed of Covenant fee | This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £150 and £300. |
| Certificate of Compliance fee | To be confirmed upon receipt of the lease, as can range between £100-£300. |
The fees payable on a leasehold transaction 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.
* Our fee assumes 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. It also assumes the transaction is concluded in a timely manner and no unforeseen complication arise and that all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation. In the unlikely event that the fixed fee is exhausted, whilst we will endeavour to absorb additional fees, there may come a point where it is no longer viable to do so. Should this situation arise, we will contact you to discuss additional costs, which will be levied at an hourly rate between £200-£288 depending on the seniority of the person acting in the matter.
SCHEDULE OF ADDITIONAL FEES THAT MAY ARISE
In respect of sales and purchases we reserve the right to charge in respect of the following additional fees that may arise. We will always endeavour to keep costs to a minimum and within the above fee bracket. If it becomes necessary due to the complexity of your matter or unforeseen circumstances, we will obtain your consent before incurring any further costs, other than those referred to below.
The additional schedule of fees is exclusive of VAT (currently 20%)
SALE OF PROPERTY
| Unregistered Title
Usually, unregistered titles are more complex than registered titles and may require further investigation. |
£200.00 – £300.00 |
| Flying Freehold or Other Unusual Title Issues | £250.00 – £500.00 |
| Dealing with any Restrictions on a Title (per restriction) | £75.00 – £100.00 |
| Preparation of a Statutory Declaration
This may be necessary, for example, to support a defect in the title. |
£100.00 – £250.00 |
| Leasehold Properties
Leasehold titles are more complex than freehold titles and will require further investigation. Please note there may also be administration charges payable to the Freeholder and/or the Management Company and these costs may vary. We will advise you of these as soon as the costs are known. |
£250.00 – £500.00 |
| Dealing with a Mortgage Lender
Obtaining initial and final redemption statements, any lender enquiries, redeeming the mortgage |
£75.00 |
| Dealing with a Second, or other additional Financial Charges
If there is a second mortgage or other financial charges registered against the property to redeem, this will involve substantial additional work. |
£250.00 – £500.00 |
| Obtaining Legal Indemnity Policies | £50.00 – £100.00 |
| Corresponding with a Third Party
If we have to liaise with a Third Party, e.g. another firm of Solicitors (other than those acting for the seller/buyer) or Management Company. This will naturally involve additional work. |
£150.00 – £500.00 |
| Completion within 7days of Exchange of Contracts
Some work can only be done once contracts are exchanged. If the period between exchange and completion is less than 7 days, it may be necessary for us to charge this additional fee due to us having to expedite matters. |
£100.00 – £275.00 |
| Email and Telephone Correspondence
Excessive telephone calls and emails will incur further charges |
up to £150.00 |
| Out of Hours Appointment
If an appointment is required out of usual office hours |
£150.00 |
PURCHASE OF PROPERTY
| Unregistered Title
Usually, unregistered titles are more complex than registered titles and may require further investigation. |
£200.00 – £300.00 |
| Flying Freehold or Other Unusual Title Issues | £250.00 – £500.00 |
| Leasehold Properties
Leasehold titles are more complex than freehold titles and will require further investigation. Please note there may also be administration charges payable to the Freeholder and/or the Management Company and these costs may vary. We will advise you of these as soon as the costs are known. |
£250.00 – £500.00 |
| Buy To Let Properties
There can be additional investigative work that may need to be undertaken, especially when there are tenants in-situ, and additional reporting required by a lender (if applicable). A comprehensive report can be undertaken on your behalf for an additional fee of £250 plus VAT. |
£250.00 |
| New Build Properties
Due its very nature of being a new build, the plot is unregistered and roads/sewers are unlikely to be adopted etc., at the purchase stage. There can be additional investigative work that may need to be undertaken. |
£250.00 |
| Preparation of a Declaration of Trust
This document may be required by clients purchasing jointly, in unequal shares. |
£150.00 – £500.00 |
| Obtaining Legal Indemnity Policies | £50.00 – £100.00 |
| Dealing with a Mortgage Lender
Obtaining mortgage offer, any lender enquiries, ordering mortgage monies |
£100.00 – £300.00 |
| Dealing with a Second Charge (Purchase)
Our standard fee includes dealing with one Mortgage Lender. If there is a second mortgage to register this will involve substantial additional work |
£250.00 – £500.00 |
| Dealing with a Family/Third Party Gifted Deposit
Please ensure if you are having a mortgage, that your mortgage company are aware from the outset of any gifted deposit. This may involve a substantial amount of additional work, for example: further Money Laundering Checks, verifying source of funds and liaising with your mortgage lender. |
£150.00 – £300.00 |
| Verifying Source of Funds
If source of funds are held in various accounts, then detailed investigative work will be required |
£100.00 – £250.00 |
| Help to Buy ISA Deposits | £50.00 per ISA |
| Help to Buy Wales Home Loan Scheme | £500.00 |
| Reclaim of Higher Rate LTT
Reclaim of higher rate of Land Transaction Tax that may have been payable as part of the purchase (applicable to second home purchases) |
£250.00 |
| Deed of Covenant
Drafting a Deed of Covenant for a third party |
£75.00 – £150.00 |
| Corresponding with a Third Party
If we have to liaise with a Third Party, e.g. another firm of Solicitors (other than those acting for the seller/buyer) or Management Company. This will naturally involve additional work. |
£150.00 – £500.00 |
| Completion within 7days of Exchange of Contracts
Some work can only be done once contracts are exchanged. If the period between exchange and completion is less than 7 days, it may be necessary for us to charge this additional fee due to us having to expedite matters. |
£100.00 – £275.00 |
| Email and Telephone Correspondence
Excessive telephone calls and emails will incur further charges |
up to £150.00 |
| Out of Hours Appointment
If an appointment is required out of usual office hours |
£150.00 |
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property which is ready to move into, with a mortgage in principle, it could take as little as 4 weeks. However, if you are buying 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 apply.
Stages of the process of a purchase
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Taking your initial instructions and providing you with initial advice such as obtaining a survey
- Liaising with your mortgage lender and/or broker to ensure finances are in place to fund your purchase
- Receiving and advising you on contract documents
- Carrying out searches
- Obtaining further planning documentation if required
- Making any necessary enquiries of seller’s solicitor
- Providing you with advice on all documents and information received
- Going through conditions of mortgage offer with you
- Advising you on joint ownership if there is more than one person buying
- Meeting with you to sign the final Contract documents
- Agreeing the completion date (date from which you own the property)
- Exchanging contracts (which makes the transaction legally binding) and notifying you when this has happened
- Arranging for all monies needed to be received from lender and you
- Completing your purchase
- Dealing with payment of Stamp Duty/Land Tax
- Dealing with application for registration at Land Registry
Who will deal with my case?
At GGP Law we have an exceptionally able and experienced team of conveyancers led by Karen Herbert (Director and Head of Department). The Conveyancers are assisted by an experienced team of Support Staff and Legal Clerks. Our firm is accredited by The Law Society under the Conveyancing Quality Scheme (CQS). Each conveyancer must undertake mandatory training annually to maintain their CQS registration. We are also Lexcel accredited. We are audited annually. We are approved panel members for all mainline lenders and many of those less well known.
For your information those carrying out conveyancing work are:
Karen Herbert, Judith Morris, Katherine Davies, Rhian Forward and Tom Davies.
You will find biographies for all our conveyancers on our “People” page -: – https://www.ggplaw.co.uk/our-people/
