CONVEYANCING FEES

We are required to provide price information regarding the conveyance of residential property including freehold sale or purchase, leasehold sale or purchase, mortgages or re mortgages.  At the beginning of the transaction we will provide you with a fixed fee.  This will be based on a standard transaction.  Our fee will cover all the work required to complete your matter.   If any complications arise, then we reserve the right to increase our fees to cover any additional work accordingly. 

Our fee assumes that:

  • This is a standard transaction and that no unforeseen matters arising 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 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

Purchase of a freehold residential property

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.

Conveyancers fees and disbursements (plus VAT)

Property Price                 Freehold Sale fee            Freehold Purchase fee

Up to £200,000                 £500 - £575                      £500 - £595

£200,001 - £275,000         £575 - £625                      £595 - £695

£275,001 - £350,000         £625 - £695                      £695 - £750

£350,001 upwards             £750 upwards                   £750 upwards

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees.  We handle payment of the disbursements on your behalf to ensure a smoother process.

Anti Money Laundering

Identity check (per name)  £8

Local Search                     £75-£160 depending on location plus VAT

Drainage Search               £45-£85 depending on location plus VAT

Environmental Search       £55-£90 depending on location plus VAT

Mining Search                   £75-£160 depending on location plus VAT

Stamp duty                       see link below

Land Registry fee              see scale and link below

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

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

OR if the property is in wales by using the Welsh Revenue Authority’s website

 https://beta.gov.wales/welsh-revenue-authority

Land Registry

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

Purchase price               Reduced fee                   Full fee

£0 – £80,000                     £20                                   £40

£80,001 – £100,000          £40                                   £80

£100,001 – £200,000         £95                                   £190

£200,001 – £500,000         £135                                 £270

£500,001 – £1,000,000      £270                                 £540

£1,000,001 and over         £455                                 £910

The Land Registry reduced their registration fees BY 50% from 17th March 2014 for any applications that are able to be submitted online electronically.   If the property is registered title and we are able to deal with the registration electronically then the fee payable to the Land Registry will be the reduced fee shown above.

If you are buying a Leasehold property additional fees may be incurred. 

Certificate of compliance                                                      From £150

To be confirmed upon receipt of contract papers

Notice of Transfer/Charge fee                                              From £150

To be confirmed upon receipt of contract papers

Deed of Covenant fee                                                          From £150

To be confirmed upon receipt of contract papers

Certificate of compliance fee                                                From £150

To be confirmed upon receipt of contract papers

Details of these fees are provided by the Management Company or contained within the Lease and will vary from property to property and can on occasion be significantly more than the ranges given above.  We will be able to give you a more accurate figure once we have sight of specific documents within the contract package.

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.

Additional Legal fees for non standard, sale and purchase transactions:

Arranging Indemnity                                                  £   55.00

Complex chain surcharge                                          £   75.00

Dealing with third party solicitors                                £ 100.00

Expedited completion fee                                           £ 100.00

Leasehold fee                                                           £ 150.00

Redemption of mortgage fee                                      £   75.00

Restrictions                                                               £   75.00

Shared Ownership                                                     £ 200.00

Telegraphic transfer fee                                             £   36.00

Third party gift                                                           £   75.00

Unregistered title                                                       £  175.00

Key Undertaking                                                        £    50.00

Solar panel lease                                                      £  125.00

Acting for Lender fee                                                 £  150.00

Separate lender representation                                  £  150.00

Help to buy ISA deposit                                             £   50.00

Help to buy scheme                                                   £  175.00

How Long will it take:

How long it will take from your offer being accepted until you can move into your new home will depend on a number of factors.   The average process takes between 8 – 12 weeks.  It can be quicker or slower, depending on the parties and circumstances in the chain.    There can be significant delays if problems are encountered during the course of the transaction.

Stages of the process – Sale

  1. Seller’s Conveyancer instructed.
  2. Seller’s Conveyancer confirms instructions by letter setting out the terms of business and fixed fee costs.
  3. Seller’s Conveyancer carries out proof of identity checks and sends out a fittings and contents form and property information form(s) for completion. If the property is leasehold, additional information will be required.
  4. Seller to complete fittings and contents form and property information form(s).
  5. Seller’s Conveyancer obtains title deeds from deeds holder or if registered official copies of the title register and any other documents from the Land Registry and details of the amount outstanding on any existing mortgage.
  6. Seller’s Conveyancer prepares the draft contract and supporting contract documentation and sends to the buyer’s Conveyancer.
  7. Buyer’s Conveyancer checks the contract and supporting contract documentation and raises pre-contract enquiries with the seller’s Conveyancer.
  8. Seller’s Conveyancer and seller answer pre-contract enquiries.
  9. Buyer’s Conveyancer confirms they have acceptable results from their searches, are happy with the answers to pre-contract enquiries and are in receipt of a mortgage offer (if any).
  10. Seller and buyer agree on a completion date and contracts are formally “exchanged” - meaning both parties are legally committed to the transaction. Seller’s Conveyancer will obtain a settlement figure to repay the outstanding amount on any existing mortgage, if applicable. Buyer’s Conveyancer drafts a transfer deed and sends to the Seller’s Conveyancer.
  11. Seller’s Conveyancer checks the transfer deed and sends to the seller for signature in readiness for completion.
  12. On completion the seller must vacate the property at a time to be agreed and make arrangements to hand over the keys, usually through the estate agent. Buyer’s Conveyancer will send the proceeds of sale to the seller’s Conveyancer and the seller’s Conveyancer will arrange for the keys to be released to the buyer. The seller’s Conveyancer sends the title deeds and transfer deed to the buyer’s Conveyancer together with an undertaking to use the proceeds of sale to discharge any existing mortgage. The seller’s Conveyancer then pays the estate agent (if one was used), repays the amount owing to the existing mortgage lender (if applicable) and takes payment for their Conveyancing service costs.
  13. Once all the payments have been made all the remaining money from the sale will be transferred to the seller, usually by bank transfer on the day of completion.

Stages of the process - Purchase

  1. Buyer makes an offer on the property, which is accepted by the seller.
  2. Buyer’s Conveyancer instructed on acceptance of the offer.
  3. Buyer arranges a survey on the property, and makes an application for a mortgage (if required).
  4. Buyer’s Conveyancer confirms instructions by letter setting out the terms of business and fixed fee costs.
  5. Buyer’s Conveyancer contacts the seller’s Conveyancer to obtain the contract pack.
  6. Buyers Conveyancer checks the contract pack, raises pre-contract enquiries, carries out the necessary searches and obtains a copy of the mortgage offer.
  7. Sellers’s Conveyancer and seller answer pre-contract enquiries and return these to buyer’s Conveyancer.
  8. Buyer’s Conveyancer reviews and reports to the buyer on the contents of the contract pack, pre-contract enquiries, the result of the searches and mortgage offer. The buyer then considers this report and raises questions on anything that is unclear.
  9. When the buyer is happy to proceed, arrangements are made for the deposit to be paid to the buyer’s Conveyancer in readiness for exchange of contracts.
  10. Seller and buyer agree on a completion date and contracts are formally “exchanged” - meaning both parties are legally committed to the transaction.
  11. Buyer’s Conveyancer prepares a draft transfer deed and completion information form and sends these to the seller’s Conveyancer for completion.
  12. Seller’s solicitor approves the draft transfer deed and a final copy is made. This may need to be signed by the buyer before being sent to the seller’s solicitor for signature by the seller in readiness for completion.
  13. Buyer’s Conveyancer prepares a completion statement, carries out pre-completion searches and applies to the buyer’s mortgage lender for the mortgage loan.
  14. On completion, the buyer vacates the property by the agreed time and buyer’s Conveyancer sends the proceeds of sale to the seller’s Conveyancer.
  15. Seller’s Conveyancer releases the keys to the estate agent (if one was used) and sends the title deeds and transfer deed to the buyer’s Conveyancer together with an undertaking to repay any existing mortgage.
  16. Buyer’s Conveyancer sends the stamp duty payable to HMRC, receives the title deeds, transfer deed and proof that the seller has paid the outstanding mortgage on the property.
  17. Buyer’s Conveyancer registers the property in the name of the buyer at The Land Registry.
  18. The buyer receives a copy of the registered title from The Land Registry. Any documents required by the mortgage lender to be retained by them are sent on by the Buyer’s solicitor.

OUR PROPERTY DEPARTMENT PEOPLE

JANE ALDERSON – SOLICITOR – Qualified as a Solicitors in 1998 but with previous experience as a Legal Executive has over 30 years experience in all aspects of the buying and selling of residential property

JUDITH BRATT- LEGAL ASSISTANT – In her support role Judith has many years experience in residential property