OUR CHARGES GUIDE

RESIDENTIAL CONVEYANCING

Every conveyancing transaction is unique and there are many issues that could arise that can affect the amount and type of work that is to be undertaken. Therefore to give a fixed price without knowing all of the details of your transaction is difficult. Therefore what appears below is to provide you with general guidance only as to your likely conveyancing costs. No two transactions are ever the same and therefore we would recommend that you telephone one of our experienced conveyancing staff to arrange for a personal quotation to be sent to you by post, which will form the basis upon which we will act for you in your matter.

New builds and commercial premises will have their own set of issues and therefore it is essential that you contact us for a written quote on our charges

Indicative  fees for Purchase of a freehold residential property

Our fees* cover all of the work required to complete the purchase of your 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.

Purchase of a freehold or leasehold residential property our charges will normally be between £550 and £850 plus vat.

For a Re-mortgage our charges will normally be in the region of £400 plus vat

For a Transfer of Equity our charges will normally be in the region of £400 plus vat

 

For Freehold Properties

*    If there is something unusual about the property, this may increase our charges depending on the unusual nature of the issue and the time that is likely to have to be spent on your matter over and above a normal conveyancing transaction. Typically an increase the cost could arise in the following examples:

o    if legal title is defective or part of the property is unregistered

o    if you discover building regulations or planning permission has not been obtained

o    if crucial documents you have previously requested from the client have not been provided

 

We will discuss with you any potential changes to our normal terms and will advise you of the same in writing before we proceed any further with your matter.

 

Disbursements (indicative charges which are common to all transactions)

Searches fees      £205

HM Land Registry fees    Range    £20 – £550

Electronic money transfer fee        Each transfer  £17.50

Land Registry searches        Each       £12

 

For Leasehold properties:

**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 once we have sight of your specific documents.

Typical disbursements will include:-

Notice of Transfer fee – This fee is set out in the lease and ranges normally between £50 and £200.

Notice of Charge fee – this is set in the lease and often range between £50 and £200

Deed of Covenant fee – Often between £90 and £200

Certificate of Compliance fee – to be confirmed upon receipt of the lease which can range between £100 to £300.

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:

a.      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

b.      this is the assignment of an existing lease and is not the grant of a new lease

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

d.      all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

e.      no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

NB: This list is not intended to be exhaustive.

 

Purchase price of property Rate of Stamp Duty Buy to Let/ Additional Home Rate*
£0 - £125,000 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%
£925,001 - £1,500,000 10% 13%

 

First Time Buyers

For properties costing up to £500,000, you will pay no Stamp Duty on the first £300,000. You will pay Stamp Duty on the remaining amount, up to £200,000. If the property you are buying is worth over £500,000, you will pay the standard rates of Stamp Duty and will not qualify for first-time buyer’s relief

 

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.

 

Land Registry fees

Value or amount Apply by post Using Business Gateway, for transfers or surrenders which affect the whole of a registered title
£80,001 to £100,000 £80 £40
£100,001 to £200,000 £190 £95
£200,001 to £500,000 £270 £135
£500,001 to £1,000,000 £540 £270

 

All figures are subject to VAT currently charged at 20%  Where appropriate 

 

We will always write to you to confirm the basis of our charges which will provide a clear understanding of what your transaction will cost you to complete.

* 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

this is the assignment of an existing lease and is not the grant of a new lease

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.

This list is not intended to be exhaustive.

 

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 8 and 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 8 weeks depending on the stage of the development. 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

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:

  • 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
  • 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 application for registration at Land Registry