Conveyancing costs

 
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Sales

 

Our fees cover all of the work* required to complete the sale of your property.  Fees are calculated in accordance with The Solicitors Act 1974 and The Solicitors (Non-Contentious Business) Remuneration Order 2009.  These allow us to take various factors into account when calculating our fees.  These include the property sale price and the complexity of matters that affect the property.  The following fees listed are intended as a guide only and the fee you may pay may be more, or less, depending on the circumstances.  We will give you a written estimate on enquiry or as part of our retainer.

 

Sale of Freehold residential property

 

Our fees for the sale of a Freehold residential property up to £1,000,000 typically range from between £950.00 Plus VAT at 20% and £1,400.00 Plus VAT at 20%.  Freehold properties for more than £1,000,000 are dealt with on an individual basis as the amount of work involved can vary enormously.

 

Sale of Leasehold residential property

 

Our fees for the sale of a leasehold residential property up to £1,000,000 are typically between £1,200.00 plus VAT at 20% to £1,600.00 plus VAT at 20%. Leasehold properties worth more than £1,000,000 are dealt with on an individual basis as the amount of work involved can vary enormously. With both freehold and leasehold sales our fee for transferring money on completion is £36 plus VAT at 20%, per transfer.

 

Other sale costs

 

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.

 

These are likely to include: -

  • Land Registry official copy document fees of £3 per document.

  • The cost of obtaining a sale pack from your landlord and/or management company (leasehold or freehold with shared common parts only). This fee is charged by the landlord or management company for the property and can be difficult to estimate, but where it does apply it can amount to several hundreds of pounds.

  • Licence to Assign (leasehold only). Some leases require you to obtain the consent of your Landlord before selling the property. Where this is the case additional legal fees will be payable to the landlord and/or the management company. It is not possible to give an estimate of this cost at the outset of the matter.

How long will my house sale take?

 

How long it will take from you accepting the buyers offer and the property being sold will depend on a number of factors. The average process takes between 8 to 12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a vacant property to a first time buyer, with no onward chain, it could be quicker than the average time process. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer than the average time process. In such, a situation additional charges would also apply.

 

Stages of the process

 

The precise stages involved in the sale of a residential property vary according to the circumstances. Below we have set out some key stages that tend to apply to most sales:-

 

  • Take your instructions and give you initial advice.

  • Obtain title documents from Land Registry.

  • Prepare protocol forms and assist you in completing them.

  • Draft contract documents.

  • Arrange for a management pack to be supplied (leasehold/shared common parts).

  • Deal with enquiries raised by the buyer’s solicitor.

  • Give you advice on all documents and information received.

  • Send final contract to you for signature.

  • Agree completion date (date on which the property is sold).

  • Exchange contracts and notify you that this has happened.

  • Complete sale.

  • Redeem your mortgage (if applicable) and pay your estate agent from sale proceeds.

  • Deal with any post-completion queries raised by the buyer/Land Registry.

 

 

* For our fee to fall within the typical ranges given above the transaction must be straightforward and without unforeseen complexities. In particular, we have assumed that: -

 

  • Your title is registered at the Land Registry with no title defect.

  • The sale is of the whole or your registered title and not a sale of part.

  • The sale is not subject to any unusual or onerous conditions.

  • The property is to be sold with vacant possession.

  • Completion takes place on the date agreed in the contract.

  • If you are selling a leasehold property, there is an existing lease (not the grant of a new lease), in an acceptable form with an effective management set up and not requiring formal variation of the provisions or an extension of the lease term.

 

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Purchases

 

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.

 

Our fees are calculated in accordance with The Solicitors Act 1974 and The Solicitors (Non-Contentious Business) Remuneration Order 2009. These allow us to take various factors into account when calculating our fees including the property purchase price and the complexity of matters that affect the property. The following is intended as a guide only and the fee that you pay may be more, or less, depending on the circumstances. We will give you a written estimate on enquiry or as part of our retainer.

 

Fees when purchasing a freehold residential property

 

Our fee for the purchase of a freehold residential property up to £1,000,000 is typically between £985.00 plus VAT at 20% to £1,600 plus VAT at 20%. Freehold properties worth more than £1,000,000 are dealt with on an individual basis as the amount of work involved can vary enormously.

 

Fees when purchasing a leasehold residential property

 

Our fee for the purchase of a leasehold residential property is typically between £1,495 plus VAT at 20% to £1,735 plus VAT at 20%. Leasehold properties worth more than £1,000,000 are dealt with on an individual basis as the amount of work involved can vary enormously. With both freehold and leasehold purchases our fee for transferring money on completion is £36 plus VAT at 20%, per transfer.

 

Other purchase costs

 

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. These are likely to include: -

 

  • Search fees of approximately £275 plus VAT at 20%.

  • HM Land Registry registration fees. This depends on the price of your property and whether it is being registered for the first time. A scale of their fee charges is available to view on the HM Land Registry website.

  • Stamp Duty or Land Tax. 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.

  • Notice fees payable to your landlord and/or management company (leasehold or freehold with shared common parts only).

  • Deed of covenant fee and/or certificate of compliance fee – This fee is provided by the Landlord or management company for the property and can be difficult to estimate, but it can amount to a few hundred pounds.

 

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 to 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 vacant property with no onward chain, it could be quicker than the average time process. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer than the average time process. 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. Below we have set out some key stages that tend to apply to most purchases: -

 

  • 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.

 

*For our fee to fall within the typical ranges given above the transaction must be straightforward and without unforeseen complexities. In particular, we have assumed that: -

 

  • The seller’s title is registered at the Land Registry with no title defect.

  • The sale is of the whole of the registered title and not a sale of part.

  • The contract is straightforward and the property is to be purchased in your name.

  • The purchase is not subject to any unusual or onerous conditions.

  • The property is to be acquired with vacant possession.

  • Completion takes place on the date agreed in the contract.

  • If you are buying a leasehold property, there is an existing lease (not the grant of a new lease), in an acceptable form with an effective management set up and not requiring formal variation of the provisions or an extension of the lease term.

  • You are not buying a newbuild property. If the property is newbuild then we will typically charge an additional fee of £300.00 plus VAT at 20% to take account of the additional work involved.


 

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Remortgages

 

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

 

Our fees are calculated in accordance with The Solicitors Act 1974 and The Solicitors (Non-Contentious Business) Remuneration Order 2009. These allow us to take various factors into account when calculating our fees including the property purchase price and the complexity of matters that affect the property. The following is intended as a guide only and the fee that you pay may be more, or less, depending on the circumstances. We will give you a written estimate on enquiry or as part of our retainer.

 

Fees when remortgaging a residential property

 

Our fee for the remortgage of a residential property is typically £500 plus VAT at 20%. Our fee for transferring money for completion is £36.00 plus VAT at 20% per transfer.

 

Other remortgage costs

 

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. These are likely to include: -

 

  • Land Registry official copy document fees of £3 per document. 

  • The cost of obtaining a sale pack from your landlord and/or management company (leasehold or freehold with shared common parts only). This fee is charged by the landlord or management company for the property and can be difficult to estimate, but where it does apply it can amount to several hundreds of pounds.

  • Search fees, where required by the lender, of approximately £275 plus VAT at 20%.

  • HM Land Registry registration fees. This depends on the value of your property. A scale of their fee charges is available to view on the HM Land Registry website.

  • Notice fees payable to your landlord and/or management company (leasehold only).

 

How long will my house remortgage take?

 

How long it will take for your remortgage to complete depends on a number of factors. The average process takes between 4 to 8 weeks.

 

 * For our fee to fall within the typical ranges given above the transaction must be straightforward and without unforeseen complexities. In particular, we have assumed that:

 

  • Your title is registered at the Land Registry with no title defect.

  • The property is not a buy-to-let property. There is typically more work involved in the remortgage of a buy to let property, for which we will charge additional fees.

  • There will be no transfer of the equity in the property to a third party.

  • The property is freehold. If the property is leasehold, unless we acted when you purchased the property, we will charge and additional £100 plus VAT at 20% to review the lease.

  • The remortgage is not an equity release or similar scheme.

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