Buying or selling a property

Conveyancing fees:

Fees for a Freehold Residential Property (Sale)

Legal Fees  on properties up to £250,000 Legal Fees on properties from £250,000-£350,000
£ 450.00 plus VAT of £90.00  Basic legal fee £ 595.00 plus VAT of £119.00 Basic legal fee
£35.00 plus VAT of £7.00    Telegraphic Transfer fee £35.00 plus VAT of £7.00  Telegraphic Transfer fee

Disbursements:- (disbursements are monies paid to third parties on your behalf):-

Office Copies (Land Registry) £6.00

Total fees on properties up to £250,000 including VAT and disbursements = £578.00*       

Total fees on properties from £250,000-£350,000 including VAT and disbursements = £762.00*

Fees for a freehold residential property (Purchase)

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:

Legal Fees  on properties up to £250,000 Legal Fees on properties from £250,000-£350,000
£450.00 plus VAT of £90.00  Basic legal fee £595.00 plus VAT of £119.00 Basic legal fee
£50.00 plus VAT of £10.00   For completing the Stamp Duty Form £100.00 plus VAT of £20.00 For completing the Stamp Duty Form
£35.00 plus VAT of £ 7.00    Telegraphic Transfer fee £35.00 plus VAT of £7.00 Telegraphic Transfer fee

Disbursements:- (disbursements are monies paid to third parties on your behalf):-

Full Search package £181.00 (to include Local Authority, Water & Drainage, Coal Mining and Environmental, Flood Report )
Land Registry Searches £3.00
Bankruptcy  Searches £2.00 (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 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-£250 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

SCHEDULE OF ADDITIONAL FEES THAT MAY ARISE

Leasehold Properties £100.00 – £250.00
Leasehold titles are more complex than freehold titles, and will require further investigation. There may also be administration charges payable to the Freeholder and/or the Management Company. These costs may vary, and we will advise you of these charges as soon as the costs are known.
Unregistered Title £100.00 – £150.00
Unregistered titles can be more complex than registered titles and may require further investigation.
Transferring funds by Telegraphic Transfer  £ 35.00 per transaction
This additional fee may be necessary if, for example, you require monies to be sent to more than one bank account e.g. three sellers with separate bank accounts will incur three separate telegraphic transfer fees
Dealing with a Second Charge (Sale)  £75.00
Our standard fee includes dealing with one Mortgage Lender. If there is a second mortgage to redeem this additional fee applies.
Dealing with a Second Charge (Purchase) £200.00 – £250.00
Our standard fee includes dealing with one Mortgage Lender. If there is a second mortgage to register this will involve substantial additional work.
Preparation of a Declaration of Trust £100.00 – £250.00
This document may be required by clients purchasing jointly, in unequal shares. This fee may increase depending on the detail required in the Trust Deed.
Preparation of a Statutory Declaration £100.00 – £250.00
This may be necessary, for example, to support a defect in the title.
Obtaining Legal Indemnity Policies Up to £50.00
This may also be in support of a defect in the title.
Completion within 7 days of Exchange of Contracts £75.00
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.
Dealing with a Family/Third Party Gifted Deposit £100.00 – £250.00
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.
Corresponding with any other Third Party £100.00 – £250.00
If we have to liaise with a Third Party, e.g. another firm of Solicitors (other than those acting for the seller/buyer) this will naturally involve additional work.

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 you written consent before incurring any further costs, other than those referred to above.

The above fees are exclusive of VAT.

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