Conveyancing Fees

RESIDENTIAL CONVEYANCING FEES

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 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.

Professional Fees

Transaction – Freehold	Property Price £	Fees £
Sale	0-1m	1,500
1m-2m	2,500
2m-5m	3,500
5m+	Please contact us to discuss
Purchase	0-1m	2,000
1m-2m	2,500
2m-5m	4,000
5m+	Please contact us to discuss
Additional Docs	per document	750 to 1,500

Leasehold

Transaction – Leasehold	Property Price £	Fees £
Sale	0-1m	2,250
1m-2m	3,250
2m-5m	4,250
5m+	Please contact us to discuss
Purchase	0-1m	2,750
1m-2m	3,250
2m-5m	5,000
5m+	Please contact us to discuss
Additional Docs		750 to 1,500

RESIDENTIAL CONVEYANCING FEES

All our fees are exclusive of VAT which is applied at the rate applicable at the time and is currently 20%.

Disbursements

In addition to our fees you will be responsible for disbursements. Disbursements are costs relating to the transaction payable to third parties such as Search fees, Stamp Duty Land Tax (SDLT) and Land Registry fees. We will handle the payment of the disbursements on your behalf as part of the transaction. We have listed below the most common disbursements payable however the disbursements may vary depending on the property involved and your requirements.

Purchase Disbursements:

Stamp Duty Land Tax: The amount of SDLT payable on a purchase transaction will depend on many factors, including the purchase price and whether or not you already own a property. You can calculate the amount payable by using HMRC’s online calculator or for properties in Wales by using the Welsh Revenue Authority’s online calculator

Land Registry Fees: The Land Registry fee payable on completion of a purchase transaction will also vary depending on the purchase price and can be calculated on H M Land Registry’s website. We are currently receiving a 50% discount on Land Registry registration fees as we are submitting our applications online. This is subject to change at the Land Registry’s discretion and may not apply to all cases.

Searches:

Local Authority Search a search of the council’s records for information about the property to include planning decisions, whether the property is a “listed building” or in a “conservation area”, local plans, road proposals, the location of the nearest public highway, public footpaths and the existence of any Tree Preservation Orders.
Drainage and Water Search – this Search confirms the existence and routes of foul and surface water drainage and the mains water supply.
Environmental report – this Search provides information not only about potentially contaminative past uses of the property and adjoining land, but also indicates whether the property is on or near a flood plain and is likely to be affected by flooding.
DevAssess/Plansearch Plus Report – this Search will help you understand the potential for development in the immediate vicinity and how this might impact on the property both positively and negatively. It will reveal any planning applications already submitted and give a view on whether development is a low medium or high risk. The Search also provides planning, neighbourhood and local amenity information to include details of local facilities, crime rates, local schools, average house prices in the area and the location of mobile telephone masts.

Depending on the location of the property, other Searches may be necessary such as a Flood Report, Coal Mining Search or Tin Mining Search. The cost of Searches will vary depending on the location of the property and size of plot, however typically a Search Pack to include the above four searches will cost in the region of £450 + VAT of £90

Lawyer Checker: This is a search carried out against the seller’s solicitor to minimise the risk of fraud and protect the purchase monies from you and the lender that will be transferred electronically to the solicitor’s client account on the day of Completion. The search costs £10 + VAT of £2

Land Registry Searches: This search is carried out in between exchange and completion to check that there have been no additional entries to the Title Register since the date of the Office Copy Entries. The search also serves to protect your interests and will grant a priority period in which you can be registered as the new owner of the property. The cost of the search is £3.00 per Title (no VAT payable).

Bankruptcy Search: If you require a mortgage the Lender will insist that we carry out a bankruptcy search against the names of all borrowers prior to the mortgage monies being received. We will also carry out a search against the sellers to make sure bankruptcy proceeding are not pending against them. The cost of the search is £2.00 per name. (no VAT payable).

Bank Transfer Fee: On completion of a purchase, monies will be sent up the chain by Bank Telegraphic Transfer to ensure that the Seller’s solicitors receive the funds the same day. The cost of the Transfer is £35.00 + VAT of £7.00

Leasehold Properties: You will reimburse any ground rent or service charge payments the Seller has made in advance of completion. Such figures can be determined when making enquiries with the Landlord/Managing Agents prior to exchange of contracts.

After completion, a Buyer is normally required to serve Notice of the Transfer and Notice of any mortgage on the Landlord’s solicitors. The Lease may also stipulate that the Buyer have to enter into a “Deed of Covenant” and take a share in the freehold or in a Management Company/Resident’s Association on completion. All of the above usually triggers a fee payable to the Landlord and/or managing agents, which we will not be able to confirm until we have had sight of the Contract papers.

Where a new Lease is granted you may also be required to pay Stamp Duty Land Tax on the rent in addition to the purchase price.

Sale Disbursements Official Copy Entries: These are copies of the Register from the Land Registry which are required to prove your ownership of the property and which will also reveal the existence of any mortgages or restrictions. Sometimes the Register will refer to other Title documents which have been filed separately at the Land Registry. The Land Registry will charge a fee per copy document starting at £3.00 each.

Energy Performance Certificates (EPCs): We shall assume that you have already made arrangements for the EPC via the estate agents however, if you are selling the property privately, we can make arrangements for the EPC on your behalf. The cost will vary depending on the size and location of the property.

Bank Transfer Fee: If there is a mortgage secured on the property this will need to be redeemed in full on completion and monies sent to the bank on the same day. The proceeds of sale can also be forwarded to you by either CHAPS or BACS payment as directed. Each Transfer will cost £35.00 + VAT of £7.00.
Leasehold Properties: We are required to provide the Buyer’s solicitors with information from the Landlord and/or Managing Agents. This will typically be presented in the form of a Sales Pack prepared by the Managing Agents and will include information regarding service charges, future expenditure and insurance. Managing Agents can charge a fee in providing such information and we will contact the Agents to determine what the fees might be.

If the Lease requires you to obtain the consent of the Landlord prior to assigning the Lease this might also generate an administrative fee or the legal costs of the Landlord’s solicitors preparing such consent.

A Buyer will be expected to reimburse any ground rent or service charge payments you have made in advance of completion.

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.

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 or if the property is located in Wales by using the Welsh Revenue Authority’s website here.

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 to 12 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 property with a mortgage in principle, it could take 4 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
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

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
the transaction is concluded in a timely manner and 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.