Sale or purchase of a residential property

Our fees for a sale or purchase can vary as no transaction is the same and complications can arise during the matter which may impact the price stated. However, as a general guide to our fees, we have outlined below our typical costs to cover standard conveyancing work.

Conveyancer’s fees and 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.

• Legal fees – they are usually charged on a fixed fee basis (fees ranging from £600 to £1500 excluding VAT), but in certain circumstances they may be charged on an hourly rate basis. If hourly rates apply, these may range from £120 to £210 (excluding VAT).
• Fees for acting for the mortgage lender only – from £750.00
• Electronic money transfer fee – £40.00 (excluding VAT) per transfer
• Search fees – £200 -£400 (plus VAT) – Depends on location of property and type of search required
• HM Land Registry fee – this is dependent on the purchase price of the property. 
• Bankruptcy searches – £2 per search
• Official Priority Searches at the Land Registry – £3 per search

*Costs vary in each case and our fees will need to reflect the particular requirements of your sale or purchase. For example, dealing with an unregistered property, listed property, a new build property or a leasehold flat may, because of the added complexities, cost more than dealing with a registered freehold property. However, we will always provide a reliable estimate of our costs when we have full details of the intended transaction and we will advise you immediately about any complication, and discuss the potential impact on price before any additional charges are incurred.

Anticipated disbursements for Leasehold conveyancing

• Management Pack/Landlords replies to property enquiries (LPE1s) – On the sale of a leasehold property it is usual for this to be provided at a fee which will be determined by the Landlord/Management Company providing the pack/replies. We have known the fees range £150 – £300 excluding VAT.
• Notice of Transfer fee – This fee if chargeable will be either set out in the lease or if not, confirmed to us by the Landlord/Management Company. Often the fee is between £50 – £300
• Notice of Charge fee (if the property is to be mortgaged/charged) – As with the Notice of Transfer fee, this will either be set out in the Lease or confirmed by the Landlord/Management Company. The fee is usually the same as the Notice of Transfer fee.
• Deed of Covenant fee – This fee is provided by the Landlord/Management Company for the property and can be difficult to estimate. Often it is between £150 - £300 excluding VAT.
• Certificate of Compliance fee – The fee for this will usually be confirmed by the Landlord/Management Company and can range between £100 - £300 excluding VAT.

Stamp Duty Land Tax or Land Transaction Tax

This is payable on the purchase of a property and depends on a number of factors including the purchase price of your property.

We will ask you to complete a questionnaire in which you will be asked questions to help us determine how much SDLT will be payable on completion. We will need to be in funds for the full amount of SDLT due before we complete your purchase.

How long will my house sale or 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 8 - 12 weeks. On a sale this is from the issuing of draft contracts and property documents and on a purchase, this is from receipt of the draft contracts and property documents.

The process can be quicker or slower, and this can depend on, for example, the parties in a chain and the complexity of the matter. For example, if you are buying a leasehold property that requires an extension of the lease before completion, the process can take significantly longer. In such a situation additional charge would also apply.

Assumptions

Our fee assumes that:

• 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.
• If the property is unregistered, the title deeds are readily available.
• The property is not being sold or purchased at auction
• If leasehold, there will be an assignment of an existing lease and not the grant of a new lease
• No unforeseen complications arise.
• All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
• No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

The above costs are examples of our prices and not to be regarded as a binding quote. It is not an exhaustive list of all of the real estate services we offer our clients. Please note that an individual costs estimate is provided at the start of each transaction which will take into account the actual features of your sale or purchase.