Our fees cover all 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*
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. 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 may apply depending on the terms of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
| Legal fees: | £550 -£1200 (for properties between £100,000 and £1,000,000) | VAT@ 20% |
|---|---|---|
| Fees for acting on behalf of a mortgage lender | £150.00 | VAT@ 20% |
| Search fees: | £350 - £450 approx | |
| HM Land Registry fee: | This depends on the purchase price of your property, this amount can be calculated using HMLR’s website: http://landregistry.data.gov.uk/fees-calculator.html | |
| Stamp Duty Land Tax | This will depend upon the purchase price of your property. You can calculate the amount due by using HMRC’s website : https://www.tax.service https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro | |
| Electronic money transfer admin fee: | £25 | |
| Bankruptcy search | £2 per person | |
| Land Registry Priority Search | £3 |
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.
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 we receive this information.
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 5-8 weeks. It can be quicker or slower, depending on factors such as any the parties in a chain.
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.
Our fee for dealing with a normal conveyancing property sale is:
| Sale Price | Our Legal Fees (Freehold) | Our Legal Fees (Leasehold) |
|---|---|---|
| £0 - £250,000 | £650 | £700 |
| £251,000 - £500,000 | £750 | £800 |
| £501,000 - £999,000 | £950 | £1,000 |
| £1,000,000+ | 0.15% - 0.175% | 0.15% - 0.175% |
Please note VAT will be added to our legal fees
If there are charges/ mortgage over the property you are selling we charge an additional fee of £125 plus VAT per mortgage assuming the mortgage is with a high street lender. This includes:
(these are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process)
In Leasehold matters we may also need to pay a fee to the Landlords Solicitors or Agents in respect of providing replies to Standard Leasehold Enquiries of the Landlord. This cost varies from one property to the next, depending on the fees confirmed in the Lease/ agreed with the landlord. We will advise you of this cost, however this usually ranges between £100 – £250 plus VAT.
You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents. Other disbursements may apply depending on the terms of your Lease.
You should note that for all new clients of the firm, we will conduct an electronic ID search for Anti Money Laundering compliance. The administrative fee for arranging these checks is £15 plus VAT. If we are arranging the transfer of funds electronically, we will charge a fee for our time involved in arranging each transfer, for example sending the proceeds of sale to you on completion, the cost of this and the amount we pay to the bank for the transfer is £25 plus VAT per transfer.
How long it will take from you accepting the buyer(s) offer to completing the sale will depend on various factors. The average process takes between 5 to 7 weeks to exchange, and a further one or two weeks before completion, dependent on all parties involved being agreeable to the completion date. The process can also be quicker or slower, depending on any parties in the chain. Leasehold matters often take longer due to the additional parties involved in the transaction, including landlords/ managing agents/ companies.
We offer the dedicated support and advice you require from the very outset of your matter.
