Residential Property
Our fees do not include any additional fees for ‘non-standard’ work or disbursements.
Disbursements are payments which we make to third parties on your behalf as part of the conveyancing process, for example, Search Fees, Land Registry Fees and Stamp Duty Land Tax. We do require you to pay us for the disbursements in advance.
Purchase
Our Fees
| 0 to £200,000.00 | £500.00 to £1,200.00 plus VAT at 20% |
| £200,000.00 to £400,000.00 | £1,200.00 to £2,000.00 plus VAT at 20% |
| £400,000.00 to £750,000.00 | £2,000.00 to £2,500.00 plus VAT at 20% |
| £750,000.00 to £1m | £2,500.00 to £3,500.00 plus VAT at 20% |
| Over £1m | £3,500.00 to £5,000.00 plus VAT at 20% |
Disbursements
Stamp Duty Land Tax – https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
Land Registry Fee – https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees
| 0 to £80,000.00 | £20.00 |
| £80,001.00 to £100,000.00 | £40.00 |
| £100,001.00 to £200,000.00 | £100.00 |
| £200,001.00 to £500,000.00 | £150.00 |
| £500,001.00 to £1,000,000.00 | £295.00 |
| £1,000,000.00 and over | £500.00 |
Please note if the property requires a postal application because it is the first time the property has been registered, or a new build or a new Lease the Land Registry fee is detailed below
| 0 to £80,000.00 | £45.00 |
| £80,001.00 to £100,000.00 | £95.00 |
| £100,001.00 to £200,000.00 | £230.00 |
| £200,001.00 to £500,000.00 | £330.00 |
| £500,001.00 to £1,000,000.00 | £655.00 |
| £1,000,000.00 and over | £1105.00 |
Searches including Local Authority search, Drainage search, Environmental search and any other appropriate to the location of the property approx. £275.00 plus VAT at 20%
| Official search | £4.00 plus VAT at 20% per title number (£4.80) |
| Bankruptcy search | £3.00 plus VAT at 20% per individual name (£3.60) |
| Bank TT fee | £25.00 plus VAT at 20% (£30.00) |
In addition, some lenders require the use of their own internet based case management system and provide us with instructions via that system. There can be a charge for this (for example LMS charge £15.00 + VAT at 20%) and we will be able to confirm what this is when you confirm to us which lender you are using.
Proof of Identity
In order to comply with anti-money laundering, counter-terrorist financing and counter-proliferation financing requirements and as part of our “Know Your Client” due diligence process, we invite clients to complete and submit their identification documentation via our third party online provider, InfoTrack. This will be at a cost of £20 plus VAT per person (total £24.00 per search) which will be charged by us at the start of your matter.
Stages of the process
- taking your instructions and providing initial advice
- check funding arrangements including gifted deposits, mortgages, help to buy (both ISAs and loan)
- receive, approve and advise on contract pack from seller’s solicitors
- put in hand the required searches e.g. local search / environmental / drainage and mining if applicable
- raise any necessary enquiries with seller’s solicitors
- meet with you and advise on all documents and information received
- advising you on the types of property ownership
- carrying out pre-completion Land Registry searches
- agreeing a completion date with the parties
- exchanging contracts
- preparing and sending you a financial completion statement for approval
- completing the purchase
- dealing with payment of Stamp Duty Land Tax (SDLT)
- dealing with Application for Registration at HM Land Registry
- providing you and the lender with a copy of the Title Information Document once registration formalities have been completed
Sale
Our Fees
| 0 to £200,000.00 | £500.00 to £900.00 plus VAT at 20% |
| £200,001.00 to £400,000.00 | £900.00 to £1,800.00 plus VAT at 20% |
| £400,001.00 to £750,000.00 | £1,800.00 to £2,250.00 plus VAT at 20% |
| £750,001.00 to £1m | £2,250.00 to £3,000.00 plus VAT at 20% |
| Over £1m | £3,000.00 to £5,000.00 plus VAT at 20% |
Disbursements
| Official copies | £7.00 plus VAT at 20% (£8.40) |
| Land Registry documents | £4.00 plus VAT each at 20% (£4.80) |
| Bank transfer fee | £25.00 plus VAT at 20% (£30.00) |
Proof of Identity
In order to comply with anti-money laundering, counter-terrorist financing and counter-proliferation financing requirements and as part of our “Know Your Client” due diligence process, we invite clients to complete and submit their identification documentation via our third party online provider, InfoTrack. This will be at a cost of £20 plus VAT per person (total £24.00 per search) which will be charged by us at the start of your matter.
Stages of the process
- taking your instructions and providing initial advice
- providing you with our Client Care information together with Property Information Form and Fixtures Fittings & Contents Form together with Leasehold Information Form
- checking title to the property and obtaining any necessary title documentation
- preparing the contract and sending it with the contract pack to the buyer’s solicitors
- replying to enquiries made by the buyer’s solicitors
- agreeing a completion date with the chain
- requesting a settlement statement from existing lender (if applicable)
- attending upon you to obtain your signature to the contract and transfer deed
- exchanging contracts
- preparing a financial completion statement
- completing the sale
- repayment of any existing mortgage, payment of estate agent’s fees (if applicable) and sending net proceeds of sale to you
Re-mortgage
Our Fees
| 0 to £200,000.00 | £400.00 to £700.00 plus VAT at 20% |
| £200,001.00 to £400,000.00 | £700.00 to £1,200.00 plus VAT at 20% |
| £400,001.00 to £750,000.00 | £1,200.00 to £2,000.00 plus VAT at 20% |
| £750,001.00 to £1m | £2,000.00 to £2,500.00 plus VAT at 20% |
| Over £1m | £2,500.00 to £5,000.00 plus VAT at 20% |
Disbursements
Land Registry Fee:
| 0 – £100,000.00 | £20.00 |
| £100,001.00 – £200,000.00 | £30.00 |
| £200,001.00 – £500,000.00 | £40.00 |
| £500,001.00 – £1m | £60.00 |
| Over £1m | £125.00 |
(or double when it is the first registration or a transfer of part)
Searches including Local Authority search, Drainage search, Environmental search, Coal mining and any other appropriate to the location of the property approx. £250 plus VAT at 20%
| Official search | £4.00 plus VAT at 20% per title number (£4.80) |
| Bankruptcy search | £3.00 plus VAT at 20% per individual name (£3.60) |
| Bank TT fee | £25.00 plus VAT at 20% (£30.00) |
Proof of Identity
In order to comply with anti-money laundering, counter-terrorist financing and counter-proliferation financing requirements and as part of our “Know Your Client” due diligence process, we invite clients to complete and submit their identification documentation via our third party online provider, InfoTrack. This will be at a cost of £20 plus VAT per person (total £24.00 per search) which will be charged by us at the start of your matter.
Stages of the process
In terms of re-mortgage transactions, we will carry out the following work as part of our fee:
- Put in hand appropriate local authority and other necessary searches or arrange search insurance. What searches are applicable depend upon your mortgage instructions likewise whether your lender will accept search indemnity insurance.
- Undertake title investigations and inform you of any problems or issues that arise.
- Write to your existing mortgage lender to obtain a redemption statement and obtain deeds from your existing lender if applicable.
- Send to you a copy of the redemption statement/s for approval.
- If applicable request a postponement of a second charge from a second lender.
- Receive a copy of the Mortgage Offer from your new lender and report to you on its contents.
- Write to any adults who are going to occupy your property with a Consent to Mortgage Form (a standard lender requirement).
- Check the amount you propose to borrow is sufficient to repay your existing mortgage(s). If not we will request the balance from you.
- Attend upon you to sign the necessary documentation
- Decide a completion date.
- Carry out the usual pre-completion searches.
- Submit the request for the funds to arrive usually the day before completion
- Confirm to you that completion has taken place and send you a completion statement.
- Redeem your existing mortgage(s) if any and if applicable complete the postponement of a second charge.
- Date the Mortgage Deed.
- Deal with registration of the mortgage at the Land Registry.
- Send any surplus funds to you by cheque or bank transfer.
Timescale
The time a sale and/or a purchase can take depends upon a variety of factors including the complexity of the matter and the timescale sought by the parties involved. An average transaction takes between 8 to 10 weeks. It can be quicker or slower depending upon the parties in the chain. Third-party influences also have a bearing on the matter including search providers, mortgage lenders, estate agents, solicitors and other conveyancing firms. Completion dates have to be agreed between the parties.
Remortgage and transfers of equity normally take in the region of 4 to 6 weeks but depends upon paperwork.