Residential Conveyancing Prices

Buying a house is one of the most expensive and important purchases you will ever make, so it’s important that you choose the right solicitor to help you.

There are a number of different factors which you should consider when it comes to making that decision, including speed of service, accessibility, expertise, experience and price. Get in touch an expert solicitor or call 01202 525333 and we will talk you through that process and give you a price for acting for you.

Below are a few examples of the prices which we charge, however, please bear in mind the prices stated are subject to change due to a number of factors, including the value of the property which you are purchasing.

Below we have provided further information in respect of the stages and likely charges in respect of three types of residential property transactions:

1. Purchase of a Freehold residential property
2. Purchase of a Leasehold residential property
3. Remortgage of an existing residential property

1. Purchase of a freehold residential property

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 payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is located in Wales.

The example charges below are based on a freehold residential purchase in the sum of up to £350,000.

Our fee assumes 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. the transaction is concluded in a timely manner and no unforeseen complication arise.
3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
5. purchase of a Freehold residential property.

* Please note we will charge VAT on top of our costs for the work we carry out for you.  VAT is currently charged at 20%.

**In the unusual event of the application being submitted by post the Fee charged by the Land Registry will increase to £330.00.

*** Please note that the above fee may change on our detailed inspection of the matter and the transaction requirements.  Costs may increase if the transaction is complicated, delayed, involves unusual issues or requires additional documents.

Referral fees

On a few different occasions, we may pay a referral fee to an estate agent for introducing you to us. If we do pay a referral fee, we will tell you the exact amount and it will have no effect on the amount which you pay to us.

Disbursements

Disbursements are costs which relate to your matter that are payable to third parties, such as Land Registry fees. We will handle the payment of the disbursements on your behalf to ensure a smoother and stress-free process.

Stamp Duty or Land Tax (on purchase)

This largely depends on the purchase price of your property but other factors may affect the amount of Stamp Duty or Land Tax payable in any transaction. You can calculate the amount you will need to pay by using HMRC’s website , or, if the property is located in Wales, by visiting the Welsh Revenue Authority’s.

By way of illustration, we set out a calculation of Stamp Duty (payable in England) below which presumes that the buyer is an individual who has previously owned a property within England and Wales:-

*You may be entitled to first time buyer relief or have to pay additional Stamp Duty if you are buying a second property, have lived abroad or if you are purchasing in the name of a limited company. Get in touch or call 01202 525333 and we will advise you of the Stamp Duty payable in your case.

Timescale

It is incredibly difficult to give an accurate indication of the time it will take to complete your transaction, as much will depend upon influences beyond our control such as the number of parties in the chain and their ability to proceed, the number of mortgage offers, different searches etc.

However, the average conveyancing transaction takes approximately 4 to 6 weeks to exchange of Contracts and a further 2 to 3 weeks to Completion.

We will, however, endeavour to meet your requirements and keep you regularly updated every step of the way.

Services and Key Stages of the process

The precise services and key stages involved in the purchase of a residential property vary according to the circumstances, but may include the following:

• 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.

Anti-Money Laundering 

To comply with anti-money laundering and counter terrorist financing requirements, we are required to ask you for proof of your identity and will conduct searches or enquiries for this purpose. Alongside this we may require details on source of funds.

To make this process easier for you we will use our third-party digital ID checking service provided by InfoTrack. We will charge you for undertaking these identification and verification checks as a cost. We do not make a profit on these checks. The cost of the check is £9.17 plus VAT per individual being checked and £4 plus VAT for Verification of funds if required.

2. Purchase of a Leasehold Property

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 payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is located in Wales.

The example prices provided below are based on a leasehold purchase in the sum of up to £250,000.00.

Our fee assumes 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. The transaction is concluded in a timely manner and no unforeseen complication arise.
3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
4. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
5. Purchase of a leasehold residential property

*Please note we will charge VAT on top of our costs for the work we carry out for you.  VAT is currently charged at 20%

** In the unusual event of the application being submitted by post the Fee charged by the Land Registry will increase to £330.00

***Please note that the above fee may change on our detailed inspection of the matter and the transaction requirements.  Costs may increase if the transaction is complicated, delayed involves unusual issues or requires additional documents.

Referral fee

On a few occasions, we may pay a referral fee to an estate agent for referring you to us. If we do pay a referral fee, we will always let you know the amount in question.

Disbursements

Disbursements are different costs related to your matter that are payable to third parties, such as search fees. Our team of solicitors 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 very well apply depending on the term of the lease. Our team will always 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 £75.00-£350.00.

Notice of Charge Fee (if the property is to be mortgaged).

This fee is set out in the lease. Often the fee is between £50.00-£350.00.

Deed of Covenant Fee

This fee is provided by the property management company and can be very difficult to estimate, having said that, often it is between £75.00-£125.00 to be confirmed upon receipt of the lease, this can range from £75.00-£125.00

Certificate of Compliance Fee

To be confirmed upon the receipt of the release, this can range between £75.00-£125.00.

Share Certificate Fee

This fee is provided by the property management company and can be difficult to estimate, but is often between £75.00-£125.00.

You should also be aware that ground rent and service charge are very likely to apply throughout your ownership of the property. We will always confirm the ground rent and the anticipated service charge as soon as we receive this information*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.

Stamp Duty or Land Tax (on purchase)

This largely 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.

Grand total:-

* You may be entitled to first time buyer relief or have to pay additional Stamp Duty if you are buying a second property or if you live abroad or if you are purchasing in the name of a limited company.  Get in touch with the team and we will advise you on the Stamp Duty payable in your case.

This does not include the anticipated disbursements referred to above, which will vary.

Services and Key Stages of the process

The precise services and key stages involved in the purchase of a residential leasehold property vary drastically depending on the circumstances, but may include the following:

• 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.
• Send final contract to you for signature.
• Draft Transfer.
• Advise you on joint ownership.
• 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.

Anti-Money Laundering 

To comply with anti-money laundering and counter terrorist financing requirements, we are required to ask you for proof of your identity and will conduct searches or enquiries for this purpose. Alongside this we may require details on source of funds.

To make this process easier for you we will use our third-party digital ID checking service provided by InfoTrack. We will charge you for undertaking these identification and verification checks as a cost. We do not make a profit on these checks. The cost of the check is £9.17 plus VAT per individual being checked and £4 plus VAT for Verification of funds if required.

3. Remortgage of a residential property

Many individuals have mortgages where the interest rates are fixed for a certain period of time.

Once that time has expired, it is not unusual for the homeowner to look to remortgage their property. Remortgaging is a process whereby you take out a new mortgage, usually with a new mortgage company, and repay your old mortgage.

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 payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is located in Wales.

The example provided below is based on a remortgage of a freehold property valued at £210,000, with a remortgage of £110,000.

Our fee assumes that:

1. this is a standard transaction and that no unforeseen matter 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.

Remortgage prices

*Please note we will charge VAT on top of our costs for the work we carry out for you.  VAT is currently charged at 20%

** In the unusual event of the application being submitted by post the Fee charged by the Land Registry will increase to £70.00

*** Please note that the above fee may change on our detailed inspection of the matter and the transaction requirements.  Costs may increase if the transaction is complicated, delayed involves unusual issues or requires additional documents.

Disbursements

Disbursements are costs which relate 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 every step of the way.

Key stages and services provided

• Take your instructions and give you initial advice
• Check finances are in place to fund re-mortgage and contact lender’s solicitors if needed
• Liaise with your existing lender to obtain redemption statements in readiness for completion
• Check your legal title
• Raise enquiries about the property to comply with lender requirements
• Carry out searches and check once received.
• Obtain further planning documentation if required
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Obtain your signature to the new mortgage deed
• Agree a completion date with you
• Arrange for all monies needed to be received from lender and you
• Complete re-mortgage
• Redeem old mortgage and discharge title from legal charge
• Account to you
• Deal with payment of Stamp Duty/Land Tax if a transfer of ownership has been involved
• Deal with application for registration at Land Registry

Timescale

It is difficult to give an accurate indication of the time it will take to complete your transaction, as much of the elements that affect this depend upon influences outside of our control, such as delays by lenders or in obtaining searches.

Having said that, the average remortgage does take approximately 2 to 4 weeks from the date of the Offer being received.

Please click here for further details of the experience and qualifications of the individuals who will be able to assist you with any aspect of buying, selling or re-mortgaging a property.

Anti-Money Laundering 

To comply with anti-money laundering and counter terrorist financing requirements, we are required to ask you for proof of your identity and will conduct searches or enquiries for this purpose. Alongside this we may require details on source of funds.

To make this process easier for you we will use our third-party digital ID checking service provided by InfoTrack. We will charge you for undertaking these identification and verification checks as a cost. We do not make a profit on these checks. The cost of the check is £9.17 plus VAT per individual being checked and £4 plus VAT for Verification of funds if required.