Residential Conveyancing Fee & Costs

We are accredited as part of the Law Society’s Conveyancing Quality Scheme (CQS). The scheme is designed to improve transparency of transactions, raise service levels and provide better communication and a more efficient process.

Purchase of a residential property

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.

Conveyancer's fees

Our fees are based on a sliding scale determined by a number of factors but our fees range between £900 + VAT and £3200 + VAT.

In the majority of transactions we will be able to give you an upfront quote of our legal fees and disbursements (third part costs). If it is difficult to determine what a transaction will involve we will base our fees upon the time spent dealing with the transaction at an agreed hourly rate; however this is quite rare.

For example, for the purchase of a freehold property worth £250,000 we would generally charge £1000 + VAT.

Our fees assume that:

·         it 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

·         the transaction is concluded in a timely manner and no unforeseen complication 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.

Conveyancer's disbursements

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

·         Search Fees (including pre-completion searches) - £400 (approximately depending on location of property)

·         Electronic Money Transfer Fee - £49 (incl VAT)

·         Electronic Anti Money Laundering Check - £5 per person

·         Lender’s Transaction Fee - £30 (required by some lenders when buying with a mortgage)

·         Stamp Duty / Land Tax – Please see below

·         Land Registry Registration Fee*

o   £0 – 80,000                             £20

o   £80,001 – 100,000                  £40

o   £100,001 – 200,000                £100

o   £200,001 – £500,000              £150

o   £500,001 –  £1,000,000          £295

o   £1,000,000 – and above         £500

* The Land Registry Fee may be double the fee noted above if we are unable to register the property purchase electronically. We can give you an accurate figure upon receipt and review of the property documents.

Potential Leasehold Disbursements:

When purchasing a Leasehold property, there are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below.

·         Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 - £200.

·         Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 - £200.

·         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 £50 - £200.

·         Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50 - £200.

This list is not exhaustive and other disbursements may apply depending on the term of the lease. 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 upon receipt and review of the lease.

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..

How long will my purchase take?

How long it will take from your offer being accepted until you can move in to your property will depend on a number of factors. The average process takes between 8-12 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 with a mortgage in principle, it could take less time. However, if you are buying a leasehold property this can take significantly longer.

Stages of the process

The precise stages involved in the purchase of a property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

·         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

·         Advise you on joint ownership

·         Obtain pre-completion searches

·         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 leasehold requirements (if applicable)

·         Deal with application for registration at Land Registry

Sale of a residential property

Our fees cover all of the work required to complete the sale of your property.

Conveyancer's fees

Our fees are based on a sliding scale determined by a number of factors but our fees range between £900 + VAT and £3200 + VAT.

In the majority of transactions we will be able to give you an upfront quote of our legal fees and disbursements (third part costs). If it is difficult to determine what a transaction will involve we will base our fees upon the time spent dealing with the transaction at an agreed hourly rate; however this is quite rare.

For example, for the sale of a freehold property worth £250,000 we would generally charge £1000 + VAT.

Our fees assume that:

·         it 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

·         the transaction is concluded in a timely manner and no unforeseen complication 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.

Conveyancer's 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. Below is a list of potential disbursements:

·         Land Registry Fees (including pre-completion searches) - £10 - £25

·         Electronic Money Transfer Fee - £49 (incl VAT)

·         Electronic Anti Money Laundering Check - £5 per person

Potential Leasehold Disbursements:

When selling a Leasehold property, there are certain disbursements which will either be set out in the individual lease relating to the Property or will be stipulated by the Management Company. You will need to pay for a leasehold information pack. The fee varies from property to property but we can give you an accurate figure upon receipt and review of the leasehold information. Often the fee is between £50 - £200.

How long will my sale take?

How long it will take from the buyer’s offer being accepted until you sale your property will depend on a number of factors. The average process takes between 8-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer with a mortgage in principle, it could take less time. However, if you are selling a leasehold property, this can take significantly longer.

Stages of the process

The precise stages involved in the sale of a property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

·         Take your instructions and give you initial advice

·         Prepare and send contract documents

·         Obtain mortgage redemption figures (if any)

·         Obtain leasehold information pack (if applicable)

·         Take your instructions regarding any enquiries raised by the buyer’s solicitor

·         Approve Draft Transfer

·         Give you advice on all documents to be signed and send to you for signature

·         Obtain pre-completion searches

·         Agree completion date (date from which you no longer own the property)

·         Exchange contracts and notify you that this has happened

·         Complete purchase

·         Redeem any mortgages

·         Account to you with sale proceeds or transfer funds to any related purchase you may have

Mortgages or re-mortgages of a residential property

Our fees cover all of the work required to complete a new mortgage or a remortgage of your property.

Conveyancer's fees

Our fees are based on a sliding scale determined by a number of factors but our fees range between £500 + VAT and £900 + VAT.

I the majority of transactions we will be able to give you an upfront quote of our legal fees and disbursements (third part costs). If it is difficult to determine what a transaction will involve we will base our fees upon the time spent dealing with the transaction at an agreed hourly rate; however this is quite rare.

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

·  the transaction is concluded in a timely manner and no unforeseen complication 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.

Conveyancer's disbursements

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

· Search Fees (including pre-completion searches) - £400 (approximately depending on location of property)

 

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