A GUIDE TO OUR RESIDENTIAL CONVEYANCING FEES
We offer an estimated fee for this type of service which is based on the value of the property in question. The price includes:
Taking your initial instructions
Checking the title to the property
Carrying out searches and raising enquiries
Agreeing dates and exchanging contracts on your behalf
Completing the transfer of property
Dealing with stamping and registration of the property.
The prices below do not include VAT or disbursements.
SALES and PURCHASES
Prices as follows:
Property value up to £150,000 – Our costs £450-£550
Property value between £150,00 - £250,000 Our Costs £550-£750
Property value between £250,000 - £500,000 Our Costs £750-£1,200
Property value between £500,000 - £1,000,000 Our Costs £1,200-£1750
Property Value over £1,000,000 Our Costs £1,750+
Our fees are calculated based on the hourly rate of the Solicitor acting, the likely complexity and value of the transaction. Our Solicitors hourly rates reflect their experience and are currently £210 per hour. All our work is undertaken by fully qualified solicitors. On average, a sale can take between 4 to 6 hours of work
A typical property transaction will take between 8 and 12 weeks. The work can be completed sooner depending on the circumstances. Our quotation may be higher if you require a particularly fast turnaround.
Our fees on a remortgage will generally depend of the requirements of the particular lender. On average our fees for the remortgage of a freehold house, valued at £250,00 with one existing mortgage to redeem would be £550 plus VAT and disbursements. The disbursements on a remortgage would normally include searches of approx. £270, Land Registry fees of approx. £150
Please note that the above estimates are for a transaction involving the whole of registered freehold title to a residential property with no mortgage.
If the transaction involves a redemption or obtaining a mortgage, the transfer of a leasehold property, unregistered property or part of a title or the property is a farm or smallholding, we will need to review our estimate.
Where joint purchasers are contributing unequal shares to the purchase price, we would recommend that a Declaration of Trust or Cohabitation Agreement be drawn up to reflect the contributions and what is to happen in the future should the property be sold and how the proceeds of sale are to be split. The cost of drawing up such a document is not included in the above quotes.
You may have to pay Land Transaction Tax (for properties in Wales) or Stamp Duty Land Tax (for properties in England) on this matter which is not included in the quotes above. It is your responsibility to provide us with truthful and accurate information to enable us to calculate the LLT or SDLT payable on your purchase Please visit the links below for more information:
The fees quoted above do not include disbursements (costs payable to a third party on your behalf). These will be charged to you based on the cost they are charged to us and include:
Land Registry Registration fees from £95 to £270 (Purchase and remortgage only)
Copies of up to date Title Documents from the Land Registry £3 each (Sale and remortgage only)
Searches on the property/land and surrounding area such as Local Authority, Drainage and Water, and Envirosearches Approx £250-£300 depending on location of property (Purchase only)
Bankruptcy and Land Registry searches £3 each(Purchase and remortgage only)
Fee for same day electronic transfer of funds £15 plus VAT
Indemnity Insurance policy premium (this may be needed if there is an issue with the property such as a defective title or there is a lack of planning permission/building regulations for an extension to a property) A bespoke quotation will be obtained if required.
Lender Panel Administration fee
Payment of Management Company administration and notice fees (if purchasing a leasehold property)
Estate Agent Fees (Sale only)
There may be additional fees which arise based on the nature of your sale or purchase and the most common ones to arise are listed below along with their additional fee.
These prices do not include VAT:
For each redemption of a mortgage on the property or land – £100
If the property is Leasehold – A specific quote will be provided on enquiry
Arranging an Indemnity Insurance Policy – £100
Arranging a Deed of Postponement/Cohabitation agreement/Declaration of Trust – from £150
Approving or preparing a Statutory Declaration – from £100
For dealing with Help to Buy ISAs – £100
These charges are necessary because of the additional time/costs that will be incurred in these specific circumstances.
Should your transaction fail to complete or the parties withdraw, you will still be charged for the amount of work done to that stage (plus VAT) and any disbursements already incurred.
Get a Quote
Every property transaction is different so that is why all our Fee Earners are qualified Solicitors. To obtain a bespoke estimate and to discuss your transaction in more depth, please contact us on:
Telephone: 01558 823417 or 01550721500