Our Fees

RESIDENTIAL CONVEYANCING

We do not have “standard” fees as the range of  residential property that we deal with is very broad  and our  service is tailored to the transaction and the client. Our minimum fee is £1,500 plus VAT (currently 20%) and disbursements – which are the costs payable to third parties on a transaction, such as searches. The type and amount of disbursements will vary according to the transaction and property concerned.

Our fees can be affected by factors such as:

  • Value
  • Urgency
  • Freehold or leasehold
  • Lock out or exclusivity agreement
  • New build or “off plan”
  • Listed building
  • Title defects  or other issues
  • Alterations
  • Mortgage
  • Lease extension
  • Consents required
  • Declaration or trust
  • Tax or company structures

Please also see the GENERAL NOTE at the end of this section.

We set out below example fees for the straightforward purchase or sale or remortgage of a freehold or a leasehold property for a price/value of £1 million, with none of the above factors or other issues and  an exchange timescale of 4-6 weeks and completion 2-4 weeks after exchange.

We carry out full investigation of the legal title to the property and the legal rights required for its proper enjoyment and full set of standard searches for your purchase. We provide a comprehensive report on our investigations with copies of all documents referred to and legal advice as appropriate. Our fee includes dealing with the Stamp Duty Land tax return and registration of your title to the property at the Land Registry.

 

  PURCHASE– price of £1million
FREEHOLD LEASEHOLD
Our conveyancing  fee £2200 + VAT £2750 + VAT
Funds transfer fee* £30 + VAT £30 + VAT
Land registry fee* £295 £295
Land registry pre-completion search (per title)* £9 inc. VAT £9 inc. VAT
Searches package(Local / drainage / environmental/infrastructure / chancel)* £400-600 + VAT £400-600 + VAT
Landlord’s licence to assign / deed of covenant* n/a £750 + VAT
Share of freehold or management company to be transferred as part of the transaction (if applicable)* £100 + VAT £100+ VAT
Landlord’s Notice fees (per transaction to be notified)* £75+ VAT

 

Stamp Duty Land Tax (SDLT)  is usually payable on a purchase. The amount will depend on the value of the property and your circumstances.  HMRC’s website can  give you an indication of the  amount likely to be due from you in relation to your transaction https://www.gov.uk/stamp-duty-land-tax or, if your property is in Wales by using the Welsh government’s site https://gov.wales/land-transaction-tax-calculator

A Stamp Duty Land Tax return is required to be made to HMRC   in most circumstances, even if no SDLT is payable. The return is your responsibility but is a technical document which we prepare for you and  submit on your behalf to HM Revenue & Customs promptly once completion has taken place  and pay across the SDLT we have collected in from you to obtain the  required certificate to enable  registration of your title at the Land Registry and  deal with registration of  your title to the property at the Land Registry and securing  your lender’s charge on the property (if applicable).

 

SALE COSTS – price of £1million
FREEHOLD LEASEHOLD
Our conveyancing fee £2000 + VAT £2500 + VAT
Funds  transfer fee* £30 + VAT £30 + VAT
Land Registry title fee* per  title/document £15 + VAT £15 + VAT
Managing agent’s information pack* Usually n/a £450 + VAT
Landlord’s licence to assign / deed of covenant* n/a £750 + VAT

 

We provide a full legal service which includes:

  • Preparing a full sales pack (with your help on the standard questionnaires)  for the buyer including the draft contract for the sale, title details and documents , all relevant copy documents, such as planning permissions, guarantees and certificates.
  • On a sale of  a leasehold property,  we also obtain the additional management information from the managing agents and liaise with them regarding any additional enquiries, we also apportion and collect back from the buyer any service charge and rent paid buy you for a period after the completion of the sale and  dealing with any landlord’s requirement and consents
  • Negotiations
  • Liaising with your lender for the redemption of any mortgage on the Property

 

REMORTGAGE COSTS – value/advance of £1million
FREEHOLD LEASEHOLD
Conveyancing fees £1500 + VAT £1500 + VAT
Land Registry title fee* per  title/document £15 + VAT £15 + VAT
Land Registry fee £295 £295
Bankruptcy search £3 per borrower £3 per borrower
Land registry pre-completion search per title £9 £9
Search pack (Local / drainage / environmental / chancel) £400- £600 + VAT £400 -£600 + VAT
Notice fees* n/a £75 + VAT
Funds transfer fee £30 + VAT £30 + VAT

 

GENERAL NOTE:

Figures marked with an asterisk are or include fees payable to third parties. Third party fees. We give estimated figures for such disbursements. In particular, Landlord’s fees  are not standard and vary depending on the Landlord/property  and may be  significantly more than estimated.  There may be additional third party fees payable and we will be able to provide you with more details and figures once we have  these  from the parties involved in your transaction.

Funds transfer fees are for the electronic transmission of funds in excess of £30,000, which is the method we use  for payment of deposit, completion monies, mortgage repayment monies and net proceeds to you.

We charge file set up fees  for each new client, including electronic identity search* which vary according to  the type of client involved as corporate or trust structures are more complex. The basic fee is £50 per purchaser + VAT for an onshore individual.

The  fees figures given assume that the matter in question is a standard transaction, by which we mean:

  • One title with up to 1 additional title document affecting the title (and if a leasehold title, the one document is an existing lease);
  • No unusual or unforeseen factors arise – e.g. but not limited to defects in title, disputes or other matters which require  resolving before completion, resulting in additional deeds, documents or negotiations with third parties;
  • All parties involved are  co-operative and responsive  (including no delays in third parties providing documents) and the transaction proceeds within the timescales stated

 

Not included in our fees as displayed

  • Tax or financial advice.
  • Any of the factors affecting fees.
  • Advice regarding neighbouring and adjoining properties.
  • Interpretation of planning documents.
  • Additional Face to face meetings (other than to verify identity).

However, we can provide assistance in relation to any or all of these matters as well if required. Please ask and we can provide further information about our fees.

 

KEY STAGES 

Although each transaction is individual so there may be variations according to the circumstances, generally the key stages are:

 

Purchase

  • Take instructions and carry out identification and money laundering checks including verifying source of wealth and funds.
  • Contact sellers solicitors and confirm instructions
  • Receive contract and title pack documents, peruse and raise any enquiries arising  of seller’s solicitor. Initial advice.
  • Carry out searches,  peruse and raise any enquiries arising  of seller’s solicitor
  • Read a copy of your surveyor’s report on the physical aspects of the property, liaise further with you, raise any enquiries arising  of seller’s solicitor
  • Seek further  information or other documentation if required
  • Provide you with a comprehensive report on title, advising  on the documents and information received.
  • Deal with approval/amendment of the contract as  required
  • Take your instructions on  and agree the date for completion of your purchase.
  • Send the final agreed contract to you for signature and request the deposit of 10% which is to be paid on exchange of contracts
  • Obtain your authority to proceed and exchange contracts for the agreed completion date and confirm to you.
  • Carry out  pre-completion searches and obtain clear results.
  • Confirm the  total sums  required and arrange for all monies needed to be received (from lender where applicable) and you
  • Execution and signing by you of the relevant documents for completion of your purchase and the  Stamp Duty Land Tax Return
  • Remit the completion  monies to  and complete your  purchase (and mortgage)
  • Make the SDLT return and  payment of Stamp Duty Land Tax on your behalf
  • Serve any post completion notices (e.g. notice of the transfer and mortgage) and other relevant matters.
  • Make the  application for registration of your title (and the mortgage )  at the Land Registry

 

Sale

  • Take your instructions and carry out our identification and money laundering checks.
  • Provide you with the conveyancing standard property questionnaires to complete
  • Ascertain position on any mortgage and that the sale proceeds will be sufficient to discharge any existing mortgages on the Property
  • Obtain title and title documents, draft contract documents and prepare a  sales pack. Obtain any management pack required (leasehold)  and ascertain any landlords requirements such as licence to assign.
  • With your help,  deal with any enquiries raised  by the buyer’s solicitor (of which there may be more than one set)
  • Agree the contract and transfer deed  with the buyer’s solicitor.
  • Take your instructions on  and agree the date for completion  of the sale
  • Make arrangements for satisfaction of and Landlord’s requirements to take place before completion
  • Send the final agreed contract to you for signature
  • Obtain your authority to proceed and exchange contracts for the agreed completion date and confirm to you that this has happened
  • Execution and signing by you of the transfer (and any other relevant documents)   for completion of your sale
  • Obtain final  repayment figure for your mortgage
  • Complete any licence to assign etc as may be required by the Landlord
  • Receive the  completion monies and complete the sale
  • Send monies to lender to obtain discharge of any mortgage
  • Pay and discharge our fees and disbursements, pay  your selling agent’s agreed fee from sale proceeds (if agreed) and send the net proceeds of sale to you by electronic funds transfer

 

Remortgage 

  • Investigation of title according to instructions from your new lender including obtaining all  searches and replies to enquiries as required.
  • If leasehold,  ensuring there are no arrears or other breaches of lease by enquiries with the managing agents  and obtaining any necessary consents from the landlord.
  • Execution and signing by you of the new mortgage deed.
  • Carry out  pre-completion searches and obtain clear results.
  • Liaising with your existing lender to discharge their mortgage and remove their mortgage from your title.
  • Applying to the Land Registry to register the mortgage of the new lender against your title.
  • If leasehold, giving the notice of charge to the landlord.

 

Timescales

On average, assuming all information is available and all parties act without delay,  you should allow  approximately 4-6 weeks on average to exchange.

Completion can take place at any time after exchange on a date agreed by the parties at exchange.  Usually between 2- 4 weeks. Banks will usually require up to 5 working days’ notice to draw down mortgage funds.

Actual timescales vary  between transactions and depend on a number of factors, often out of our control, including:

  • How swiftly you are able to provide with suitable and sufficient ID and proof of address documents, sufficient proof of source of wealth and funds.
  • The position on a buyer’s mortgage offer and whether the buyer’s lender instructs the buyers solicitor or another firm
  • If either party’s sale / purchase is  dependent on simultaneous purchase / sale of any other property
  • Speed of provision of full contract pack from seller with all relevant title, management, planning and other relevant  documents and information
  • Speed of both parties in providing instructions/ replies to enquiries/further information
  • Speed of obtaining search results
  • Existence of title defects
  • Existence of physical defects / breaches of planning permission/listed building or building control
  • If leasehold, the landlord’s requirements and the speed of landlord / managing agent/ solicitors in providing full management pack and  dealing with  any queries / requests for consent/ any breaches of lease