Fees

RESIDENTIAL FREEHOLD PURCHASE

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

Conveyancer’s fees

  • Legal fee up to 0.5% of the value of the transaction plus VAT
  • Electronic money transfer fee £40 plus VAT
  • AML Search £6 plus VAT per person

Disbursements

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.

  • Search fees - depends on the location of the property
  • HM Land Registry fee – depends on the value of the transaction
  • Priority search £3
  • Bankruptcy search (if buying with a mortgage) £2 per person

Referral fee (if any)

Rarely do we pay referral fees to estate agents but in the event that we do we will be sure to advise you of the amount and recipient.

Stamp Duty

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.

Conveyancing process:

The precise stages involved in the purchase of a residential freehold property vary according to the circumstances but generally include the following:

  • Taking your instructions and giving 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
  • Make any necessary enquiries of seller's solicitor
  • Give you advice on all documents and information received
  • 
Review conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership (if needed)
  • Obtain pre-completion searches
  • 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

RESIDENTIAL LEASEHOLD PURCHASE

Our fees cover all the work* required to complete the purchase of your new property , 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 is in Wales.

Conveyancer’s fees

  • Legal fee up to 0.5% of the value of the transaction plus VAT
  • Electronic money transfer fee £40 plus VAT
  • AML Search £6 plus VAT per person

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. 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 term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.

  • Search fees - depends on location of property
  • HM Land Registry fee – depends on the value of the transaction
  • Priority search £3
  • Bankruptcy search (if buying with a mortgage) £2 per person
  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 and £150.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £150.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often the fee is between £50 and £150.
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £100 and £200.

Referral fee (if any)

  • Rarely do we pay referral fees to estate agents but in the event that we do we will be sure to advise you of the amount and recipient.

General:

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 this we receive this information.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances but generally include the following:

  • Taking your instructions and giving you initial advice
  • Check finances are in place to fund purchase and contact lender's solicitors if needed
  • Receive and advise on contract documents and the lease
  • Carry out searches
  • Make any necessary enquiries of seller's solicitor
  • Give you advice on all documents and information received
  • Liaise with the seller’s solicitor regarding a possible licence to assign if required by the lease and advise accordingly
  • Review conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership (if required)
  • Obtain pre-completion searches
  • 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
  • Deal with notifying your landlord that you own the property

How long will my property purchase take?

How long it will take from your offer being accepted until you can complete the purchase of your property will depend on a number of factors. On average it can take 6-8 weeks to get to exchange of contracts. 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 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 9 months. In such, a situation additional charges would apply.

* Our fees assume that:

  1. 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
  2. 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 complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

RESIDENTIAL FREEHOLD SALE

Our fees cover all of the work required to complete the sale of your property.

Conveyancer’s fees

  • Legal fee up to 0.5% of the value of the transaction plus VAT
  • Electronic money transfer fee £40 plus VAT
  • AML Search £6 plus VAT per person

Disbursements

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

Land Registry document £3

Estate agent’s fees – from 1-3% of the value of the transaction

Referral fee (if any)

Rarely do we pay referral fees to estate agents but in the event that we do we will be sure to advise you of the amount and recipient.

The precise stages involved in the sale of a residential freehold property vary according to the circumstances but generally include the following:

  • Taking your instructions and giving you initial advice
  • Prepare the draft contract pack and all associated documents
  • Reply to enquiries raised by the buyer’s solicitor
  • Send final contract to you for signature
  • Send the transfer to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Complete sale
  • Redeem any mortgages and account to you with the balance sale proceeds
  • Pay any estate agents fees

RESIDENTIAL LEASEHOLD SALE

Our fees cover all of the work required to complete the sale of your property.

Conveyancer’s fees

  • Legal fee up to 0.5% of the value of the transaction plus VAT
  • Electronic money transfer fee £40 plus VAT
  • AML Search £6 plus VAT per person

Disbursements

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

  • Land Registry document £3
  • Estate agent’s fees – from 1-3% of the value of the transaction
  • Managing agent’s pack or replies to leasehold property enquiries from your landlord - depends on the Landlord/Managing agent
Taking your instructions and giving you initial advice

Referral fee (if any)

Rarely do we pay referral fees to estate agents but in the event that we do we will be sure to advise you of the amount and recipient.

The precise stages involved in the sale of a residential leasehold property vary according to the circumstances but generally include the following:

  • Taking your instructions and giving you initial advice
  • Prepare the draft contract pack and all associated documents
  • Obtain the managing agent’s pack or landlord’s replies to leasehold property enquiries
  • Apply for licence to assign if the lease requires
  • Reply to enquiries raised by the buyer’s solicitor
  • Send final contract to you for signature
  • Send the transfer to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Complete sale
  • Redeem any mortgages and account to you with the balance sale proceeds
  • Pay any estate agents fees

RESIDENTIAL RE-MORTGAGE

Our fees cover all of the work* required to complete the re-mortgage of your property, including dealing with registration at the Land Registry.

Conveyancer’s fees and disbursements

  • Legal fees between £500 and £2,500 depending on whether your lender is using their own solicitor plus VAT
  • Search fees approx. - depends on location of the property
  • HM Land Registry fee – depends on the value of the loan
  • Electronic money transfer fee £40 plus VAT
  • Priority search £3
  • Bankruptcy search £2 per person
  • AML Search £6 plus vat per person

The precise stages involved in the re-mortgage of a residential property vary according to the circumstances but generally include the following:

  • Taking your instructions and giving you initial advice
  • Liaise with you in satisfying any conditions of the mortgage offer
  • Carry out searches
  • Agree completion date
  • Request redemption statement from any existing lenders
  • Redeem any existing mortgages and account to you with the balance sale proceeds
  • Pay any broker’s fees