Residential conveyancing costs

Our pricing for residential conveyancing, including the sale, purchase and remortgaging of property, is as follows.

Sales:

Our charges carry VAT which is charged at the standard rate of 20%. The fees quoted below are exclusive of VAT.

Supplements

The following supplements may also be charged depending on the nature of the transaction. Our charges carry VAT which is charged at the standard rate of 20%. The fees quoted are exclusive of VAT.

Please see notes below.

Purchase:

Our charges carry VAT which is charged at the standard rate of 20%. The fees quoted are exclusive of VAT.

Supplements

The following supplements may also be charged depending on the nature of the transaction. Our charges carry VAT which is charged at the standard rate of 20%. The fees quoted are exclusive of VAT.

The above also includes acting for a lender on securing their charge if we are instructed by them, and completing and submitting the relevant SDLT return (if the property is in England) or the LTT return (if the property is in Wales) on your behalf.

Please see notes below.

Sales and Purchases Notes

Our tables assume that:

• Legal fees (see tables above)
• Search fees (this depends on the location of your property and the searches undertaken but we request a payment of £325 on account which we consider as being the approximate cost concerned which we then offset against the actual fees).
• HM Land Registry fee (*this depends on the purchase price of your property.  You can calculate the amount you pay by using the Land Registry calculator) (link here – Land Registry website)
• In relation to the sale of your property Title Information Documentation obtained from H M Land Registry – £10 – £15 + VAT at 20% (plus £2 – £3) depending on the number of documents referred to on the title
• Electronic Anti Money Laundering checks £13.50 per name inclusive of VAT at 20% (£2.25 VAT included)
• Source of Funds checks for the purchase of a property at £4.80 inclusive of VAT at 20% (£0.80 VAT included)
• Electronic money transfer fee £35 plus VAT at 20% (£42 including VAT)
• VAT payable at 20% (unless stated as inclusive)

Re-mortgages

Transfer of Equity £850 plus VAT
Voluntary First Registration £500 plus VAT
ID1 £150 plus VAT

Conveyancer’s fees and disbursements

• Legal fees (see tables above)
• Search fees (this depends on the location of your property and the searches undertaken but we request a payment of £325 on account which we consider as being the approximate cost concerned which we then offset against the actual fees).
• HM Land Registry fee (*this depends on the purchase price of your property.  You can calculate the amount you pay by using the Land Registry calculator) (link here – Land Registry website)
• Electronic money transfer fee £35 plus VAT at 20% (£42 including VAT)
• VAT payable at 20% (unless stated as inclusive)

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.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website (Stamp duty land tax website) or if the property is located in Wales by using the Welsh Revenue Authority’s website (Land Transfer Tax website)

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 6-10 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 completed property with a mortgage in principle, it could take 6-10 weeks. 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
• See you or send final contract and other documents 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

Disbursements on purchase of a leasehold residential property

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.

Anticipated Disbursements*

• 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 £100.
• Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100 and £200.
• Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50 and £150

*These fees vary from property to property and can on occasion be less or significantly more than the ranges given above. We can only give you an accurate figure once we have sight of your specific documents and VAT is applicable.

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 Residential Conveyancing team

The team are listed below. Julie Bryan supervises all Residential Conveyancing work.

Your matter will be dealt with by your existing solicitor, if you have used us before, or as appropriate, depending on your location of the property or expertise required.

Please call or email our offices to discuss any of the above or to gain a bespoke quotation.