As with all of our pricing, we provide transparency and certainty of the costs you are likely to incur.
The following guide will help you to understand the service and related fees that are applicable when we support you to sell your existing residential property or purchase a new residential property, whether it be leasehold or freehold.
We’ve laid out below what you can expect from the conveyancing process.
WHAT ARE THE TYPICAL STAGES OF SELLING A RESIDENTIAL PROPERTY?
The precise stages involved in the sale of a residential property vary according to the circumstances. However, typically you can expect that we will:
- Take your instructions on the sale
- Invite you to complete a Property Information Form, Fixtures and Fittings Form and Leasehold Information Form
- Prepare the contract pack to include the contact for sale, Land Registry title documents
- Order a Management Company Sales Pack (Freehold only)
- Answer questions raised by your Buyer about the property
- Complete your sale
- Discharge your mortgage from the proceeds of sale, if applicable
- Account the proceeds of sale to you
HOW LONG WILL MY HOUSE SALE TAKE?
The timescale from receiving your offer of sale until the date the sale completes depends on a number of factors. Typically for an average sale, the process will take around 8 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a leasehold property it could take longer than a freehold sale, as the Management Company or Landlord will need to provide a management sales pack.
WHAT ARE THE TYPICAL STAGES OF BUYING A RESIDENTIAL PROPERTY?
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, typically you can expect that we will:
- Take your instructions and provide you with initial advice in relation to your purchase
- Check finances are in place to fund your purchase and contact the lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out the relevant searches
- Obtain further planning documentation if required
- Make any necessary enquiries of the seller’s solicitor
- Give you advice on all documents and information received
- Go through the conditions of the mortgage offer with you
- Send the final contract to you for signature
- Agree the 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 your purchase
- Deal with the payment of Stamp Duty/Land Tax
- Deal with the application for registration at Land Registry
HOW LONG WILL MY HOUSE PURCHASE TAKE?
The timescale from your offer being accepted until the date that you can move in to your new house will depend on a number of factors. Typically for an average purchase, the process will take around 8 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 on average up to 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation, additional charges would apply.
WHAT ARE THE FEES FOR RESIDENTIAL CONVEYANCING?
We adopt a fixed fee approach to our conveyancing pricing, which varies dependant on the property purchase or sale price as detailed below. Regardless of whether you are selling or buying a property, the following fees will apply:
Property Sale or Purchase Price |
Our Fee |
VAT if applicable |
| Under £300,000 | £850.00 |
£170.00 |
| £300,001 – £500,000 | £1,100.00 |
£220.00 |
| £500,001 – £800,000 | £1,300.00 |
£260.00 |
| £800,001 – £1,100,000 | £1,500.00 |
£300.00 |
| £1,100,001 – £1,300,000 | £1,800.00 |
£360.00 |
| £1,300,001 – £1,500,000 | £2,100.00 |
£420.00 |
| £1,500,001 – £1,700,000 | £2,500.00 |
£500.00 |
| £1,700,001 – £1,900,000 | £2,800.00 |
£560.00 |
| £1,900,001 – £2,100,000 | £3,000.00 |
£600.00 |
| £2,100,001 – £2,300,000 | £3,300.00 |
£660.00 |
| £2,300,000 + | £3,600.00 |
£720.00 |
Please note that the above fees do not include the cost of disbursements.
WHAT ARE THE DISBURSEMENTS FOR FREEHOLD PROPERTIES?
Disbursements are costs related to your matter that are payable to third parties, such as Search Fees or Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
The likely disbursements that may be incurred are as follows and will include 20% VAT, if applicable:
- Search fees – £300.00
- HM Land Registry fee – £135.00
- Stamp Duty or Land Tax – £TBC (on purchases only)
WHAT AMOUNT WILL I NEED TO PAY IN STAMP DUTY OR LAND TAX?
The amount of Stamp Duty or Land Tax owed depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website here or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
WHAT ARE THE DISBURSEMENTS FOR LEASEHOLD PROPERTIES?
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 and will include 20% VAT if aplicable:
- Search fees – £300.00
- HM Land Registry fee – £135.00
- Stamp Duty or Land Tax – £TBC (on purchases only)
This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
WHAT ARE ANTICIPATED DISBURSEMENTS?
These fees vary from property to property and can on occasion be significantly more than the ranges given below. We can give you an accurate figure once we have sight of your specific documents. These disbursements will include 20% VAT if applicable:
- Notice of Transfer Fee. This fee if chargeable is set out in the lease. Often the fee is between £50.00 to £150.00.
- 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 to £150.00.
- Deed of Covenant Fee. This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50.00 to £250.oo.
- Certificate of Compliance Fee. To be confirmed upon receipt of the lease and can range between £50.00 to £150.00.
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.
Our fee assumes that:
- a) this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a problem with the ownership (title) which must be resolved prior to completion or the preparation of additional documents that are needed to support the main transaction;
- b) this is the assignment of an existing lease and is not the grant of a new lease;
- c) the transaction is concluded in a timely manner and no unforeseen complication arise;
- d) all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; and
- e) no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
WHAT IS THE TYPICAL PROCESS FOR RESIDENTIAL RE-MORTGAGES?
We also support clients with residential re-mortgages.
This process typically takes approximately 4 weeks and will include representing your lender, checking your ownership (title) of the property and providing a report on this, called a “Report on Title”. We also register the new mortgage lender’s Legal Charge at the Land Registry to complete the process.
Our current fixed fee for residential re-mortgages is £650 + 20% VAT.
WHAT ARE THE DISBURSEMENTS FOR RESIDENTIAL RE-MORTGAGES?
Disbursements are costs related to your matter that are payable to third parties, such as Search Fees or Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
The likely disbursements in relation to re-mortgages are as follows and will include 20% VAT if applicable:
- To access a copy of the Land Registry Title – £6
- To register a legal charge – £40
- To carry out a bankruptcy search – £2
- To carry out a Land Registry search – £3
If you would like to find out more about our fees or service, and how we can support you with your conveyancing needs, please do not hesitate to contact us.