Freehold or leasehold sales or purchases
Mortgage or re-mortgages
In accordance with the SRA’s Price Transparency Rules, this document summarises costs information for individuals who require conveyancing services.
Conveyancing matters are handled by our Real Estate team and are supervised by Terry McMahon.
We do not offer residential conveyancing services generally and only do so to existing established clients who specifically request these services.
Our costs for residential conveyancing are subject to a minimum fee of £1,250 for freehold property and £1,750 for leasehold property excluding VAT and disbursements. Additional charges will be in accordance with our hourly rates which range between £100 and £300 depending upon the experience of the team member who is working with you.
The costs set out below are illustrative only and our costs may increase if certain factors apply, for example:
- If legal title is defective or part of the property is unregistered
- If we discover building regulations or planning permission has not been obtained
- If you are unable to provide us with information or documents
Freehold purchases
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.
Illustrative costs
- Legal fees: £1,250
- Search fees: £300 (typically)
- HM Land Registry fees are based on the Land Registry Fee scale depending on the value of the property. You can calculate the amount you will need to pay by using the Land Registry’s fee scale: www.gov.uk/guidance/hm-land-registry-registration-services-fees. For the purpose of this illustration we have assumed a Land Registry fee of £135.
- Electronic money transfer fee: £25
- VAT payable: £110
- Estimated total: £1,820
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.
In addition to the sums set out above, you will be liable to pay Stamp Duty or Land Tax. The amount of 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.
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 (including the preparation of any statutory declarations)
- the transaction is concluded in a timely manner and no unforeseen complication 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.
Timescales
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 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. If the process is delayed, additional charges may apply.
Stages
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, some key stages include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lenders 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 the Land Registry
Leasehold purchases
Our fees cover all 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 or Land Tax.
Illustrative costs
- Legal fees: £1,750
- Search fees: £300 (typically)
- HM Land Registry fees are based on the Land Registry Fee scale depending on the value of the property. You can calculate the amount you will need to pay by using the Land Registry’s fee scale: www.gov.uk/guidance/hm-land-registry-registration-services-fees. For the purpose of this illustration we have assumed a Land Registry fee of £135.
- Electronic money transfer fee: £25
- VAT payable: £110
- Estimated total: £2,320
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
- this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complication 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
- no formalities are required in relation to any management company or third party responsible for managing the building in which the property is situate e.g. transferring shares in a management company/providing deeds of covenant to management companies and/or landlords
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. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information. A management company is likely to charge a fixed fee for producing a package of information relating to this information and additional information such as service charge expenditure.
In addition to the sums set out above, you will be liable to pay Stamp Duty or Land Tax. The amount of 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.
Timescales
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 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. If the process is delayed, additional charges may apply.
Stages
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, some key stages include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Where relevant request ‘tenant’s pack’ from the relevant management company
- 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 formalities in relation to membership of management company and registration of your lease with the landlord (where required)
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Freehold sales
Our fees cover all of the work required to complete the sale of your home.
Illustrative costs
- Legal fees: £1,250
- Electronic money transfer fee: £25
- VAT payable: £250
- Estimated total: £1,525
Disbursements are costs related to your matter that are payable to third parties, such as money transfer fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
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 complication 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
Timescales
How long it will take from you accepting an offer until your home is sold will depend on a number of factors. The average process takes between 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. If the process is delayed, additional charges may apply.
Stages
The precise stages involved in the sale of a residential property vary according to the circumstances. However, some key stages include:
- Take your instructions and give you initial advice
- Complete detailed questionnaires about the property
- Draft and negotiate contract documents
- Give you advice on mortgage redemption and liaise with your mortgage company if required
- Send final contract and transfer to you for signature
- Agree completion date (date from which you will cease to own the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Deal with payment of estate agent and any other fees
Leasehold sales
Our fees cover all of the work required to complete the sale of your home.
Illustrative costs
- Legal fees: £1,750
- Electronic money transfer fee: £25
- VAT payable: £350
- Estimated total: £2,125
Disbursements are costs related to your matter that are payable to third parties, such as money transfer fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
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 complication 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
Timescales
How long it will take from you accepting an offer until your home is sold will depend on a number of factors. The average process takes between 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. If the process is delayed, additional charges may apply.
Stages
The precise stages involved in the sale of a residential property vary according to the circumstances. However, some key stages include:
- Take your instructions and give you initial advice
- Complete detailed questionnaires about the property
- Draft and negotiate contract documents
- Give you advice on mortgage redemption and liaise with your mortgage company if required
- Send final contract to you for signature
- Agree completion date (date from which you will cease to own the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Deal with payment of estate agent and any other fees
Mortgages or re-mortgages
Our fees cover all of the work required to complete the grant of a mortgage or a re-mortgage in respect of a residential property which you already own. Our fees are subject to a minimum fee of £1,000 excluding VAT and any disbursements. Additional charges will be in accordance with our hourly rates which range between £100 and £300 depending upon the experience of the team member who is working with you. Our fees include dealing with registration at the Land Registry.
Illustrative costs
- Legal fees: £1,000
- Search fees: £300
- HM Land Registry fee: £40
- Electronic money transfer fee: £25
- VAT payable: £260
- Estimated total: £1,625
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.
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 complication 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
Timescales
How long it will take from a mortgage offer being made until your mortgage company releases funds will depend on a number of factors. The average process takes between 3-6 weeks. It can be quicker or slower, depending on the parties involved. If the process is delayed, additional charges may apply.
Stages
The precise stages involved in the grant of a mortgage or a re-mortgage of a residential property vary according to the circumstances. However, some key stages include:
- Take your instructions and give you initial advice
- Receive and advise on the lender’s security pack (including a legal mortgage over the property)
- Carry out searches and obtain planning consents and building regulation certificates
- Make any necessary enquiries of mortgage company
- Obtain a redemption statement from any existing lender where their security is to be redeemed
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send legal mortgage to you for signature together with mortgage facility letter from the lender (if required)
- Agree completion date (date on which the mortgage advance will be paid to you)
- Deal with redemption of existing mortgage (where relevant)
- Complete the mortgage and notify you that this has happened
- Arrange for all monies needed to be received from lender
- Deal with application for registration of the legal mortgage over the property at the Land Registry and, where relevant the removal of any prior legal mortgage over the property
For further information about conveyancing services please contact us.