Fees
We offer a professional and individual service undertaken by our fully qualified solicitors under a fixed fee regime. Our Conveyancing Team has experience in delivering a high-quality service dealing with both freehold and leasehold transactions. This includes sales, purchases and re-mortgages.
Legal fees
These are determined by the value of the property and in order to assist you the following table sets out our current fee structure. All fees are exclusive of VAT. We strive to ensure that you have the best possible information about the likely overall cost both at the time you instruct us and, when appropriate, as the matter progresses.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. For example, in leasehold matters, 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. This list is not exhaustive and other disbursements will apply depending on the terms of the Lease. We will update you on the specific fee on receipt and review of the Lease and leasehold information pack from the seller’s solicitors.
The likely fees and disbursements you will be charged
Sales
Conveyancing Legal Fee for sales (Excluding VAT and disbursements):
| Property Value | Freehold | Additional Leasehold Fee (in addition to the Freehold Fee) |
|---|---|---|
| Up to £400,000 | £1100.00 plus VAT | £150.00 plus VAT |
| £400,001 to £750,000 | £1,200.00 – £1,500.00 plus VAT | £200.00 plus VAT |
| £750,001.to £1 million | £1,500.00 - £1,800.00 plus VAT | £200.00 plus VAT |
| Over £1 million | £2,000.00 plus VAT | £300.00 plus VAT |
For sales over £1 million, please call us to discuss and agree our fees.
Other Legal Fees for sales:
| Item | Freehold | Leasehold |
|---|---|---|
| Bank Transfer Fee | £50 plus VAT | £50 plus VAT |
Disbursements for sales:
| Item | Freehold | Leasehold |
|---|---|---|
| Land Registry Official Copies | £5 | £5 |
Purchase
Conveyancing Legal Fee for purchases:
| Property Value | Freehold | Additional Leasehold Fee (in addition to the Freehold Fee) |
|---|---|---|
| Up to £400,000 | £1,200.00 - £1,400.00 plus VAT | £300.00 - £450.00 |
| £400,001 to £750,000 | £1,400.00 - £1,600.00 plus VAT | £300.00 - £450.00 |
| £750,001 to £1 million | £1,600.00 - £1,800.00 plus VAT | £300.00 - £450.00 |
For purchases over £1 million, please call us to discuss and agree our fees.
Other Legal Fees for purchases:
| Item | Freehold | Leasehold |
|---|---|---|
| Acting for your Mortgage Lender | £450 plus VAT | £500 plus VAT |
| Bank Transfer Fee | £50 plus VAT | £50 plus VAT |
| Electronic Anti Money Laundering Search (per person) | £50 plus VAT | £50 plus VAT |
Disbursements for purchases:
| Item | Freehold | Leasehold |
|---|---|---|
| Stamp Duty Land Tax. This will vary dependent on your individual circumstances and the value of the property. Please use the Stamp Duty Land Tax Calculator to assist you in ascertaining the relevant duty payable. | Stamp Duty Land Tax Link | |
| HM Land Registry Registration Fee. This is varies dependent on the value of the property and also whether the property is a new or existing property. Please use the HM Land Registry Calculator to assist you in ascertaining the fee applicable. | HM Land Registry Link |
|
For leasehold properties transactions, there are additional fees from the Freeholder/Management Company, which we will advice in due course.
Our fee assumes that:
1. This is a standard transaction and 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
2. On a leasehold transaction, this is the assignment of an existing Lease and is not the grant of a new Lease
3. The transaction is concluded in a timely manner and no unforeseen complications arise
4. All parties to the transaction are cooperative and there are no unreasonable delays from third parties providing documentation
5. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
There may be additional fees if:
1. The property is a new build
2. The property is a listed building or within a listed building
3. An extension of a Lease is required
4. There is a retention
5. It is a first registration of title
6. There is a shared ownership scheme
7. You are using a help to buy scheme
8. You are using a help to buy ISA
9. You are purchasing under the right to buy
10. You are purchasing at auction
11. The property has been repossessed
12. If your mortgage lender instructs its own solicitors
13. You have a second mortgage/charge/charging order
N.B. This list is not intended to be exhaustive.
Stages of the Purchase Process
- Taking your instructions and providing initial advice
- Opening your file, preparing your client care documentation and advising you on joint ownership, if applicable
- Check finance is in place to fund purchase and complete our Anti-Money Laundering checks
- Receiving the draft contract papers from the seller’s solicitors
- Submit all relevant searches
- Obtain further planning documentation, if required
- Investigation of title and raising all relevant and additional enquiries with the seller’s solicitor
- Consideration of mortgage offer (if relevant)
- Give you advice on all documents and information received by way of a Report on Title
- Send final Contract to you for signature
- Agree a completion date (date from which you own the property)
- Carry out exchange of Contracts and notify you that this has happened
- Post exchange and pre-completion work such as pre completion searches, drafting the transfer deed, raising requisitions on title, preparing completion statement and requesting the mortgage funds from the lender (if applicable)
- Arranging for signing of transfer deed, mortgage deed and Stamp Duty Land Tax return
- Receiving the mortgage advance and any balance from you
- Completion of the purchase
- Post completion arranging the payment of the Stamp Duty Land Tax and registration of your ownership at HM Land Registry
- In the case of Leasehold transactions, service notice of transfer and charge (if applicable), on your Landlord/Management Company
How long will my transaction take
It is most important you appreciate that the above quotations are on the basis that the transaction proceeds in a timely manner with no unforeseen technical or other issues arising which result in unusually protracted correspondence. You will be advised of any unforeseen complexity arising at the very earliest opportunity. How long it will take from your offer being accepted until you can move into your house 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the Lease, this can take significantly longer, between 2 – 4 months. In such, a situation, additional charges would apply.
Remortgage of leasehold or freehold property
Our fees cover all the work required to complete a re-mortgage of your home (changing from one lender to another) or a mortgage (you are taking out a mortgage and there is no current mortgage on your home)
What fees and disbursements will I pay
Our fees will range from £1300.00 - £1600.00 exclusive of VAT and disbursements. The fee will depend on whether the property is freehold or leasehold and the particular requirements of the new lender.
Other Legal Fees for re-mortgage:
For leasehold properties, we charge an additional £300.00 - £400.00 plus VAT disbursements.
Disbursements for mortgage / re-mortgage :
For disbursements, please see above.
General
Please note that the above is an indication only of the process and costs which may be incurred in a standard sale or purchase transaction and is entirely subject to and conditional upon the terms set out and agreed in our Client Care Letter which will be issued at the appropriate point in time.
For the avoidance of doubt, please note that the above only applies in circumstances where we are acting on behalf of a private individual. In all other cases please contact us to discuss the proposed case matter and our proposed charges.