Residential Conveyancing

PRICE INFORMATION FOR PROPERTY SALES & PURCHASES

We will do all the necessary work required to complete the sale of your property and/or the purchase of your new home. Our work includes your Stamp Duty Land Tax (SDLT - if the property is in England) or Land Transaction Tax (LTT - if the property is in Wales) filing and the application of registration at HM Land Registry.

The information shown on this page applies to residential conveyancing only. It does NOT apply to those transactions involving any commercial, new-build or shared-ownership property.

How long will it take to complete the transaction?

How long it will take – from an offer being accepted until you can complete – will depend on a number of factors outside our control (for example, progress of any chain). The average process takes between 8 to 12 weeks.

If, however, you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation, additional charges may apply as further work will have to be undertaken in respect of the proposed extension of the lease term.

Estimated Range of Fees (excluding VAT)

Property Price Residential Sale Residential Purchase
Freehold Leasehold Freehold Leasehold
Below £250K £750 to £1,000 £850 to £1,000 £850 to £1,000 £900 to £1,100
£250,000 to £500,000 £900 to £1,100 £950 to £1,200 £950 to £1,200 £1,100 to £1,350
£500,001 to £1,000,000 £1,100 to £1,300 £1,150 to £1,450 £1,150 to £1,450 £1,300 to £1,500
£1,000,001 to £2,000,000 £1,200 to £1,500 £1,350 to £1,800 £1,350 to £1,800 £1,450 to £2,400
Above £2,000,000 0.1% of the property price 0.125% of the property price 0.125% of the property price 0.15% of the property price

 

Our fee assumes that:

  1. this is a standard transaction and that no unforeseen matter should arise including, for example (but not limited to), a defect in title, discrepancy in the name(s) of the proprietor(s), or other issues which require remedying and/or preparation of additional documents ancillary to the main transaction.
  2. the transaction is concluded in a timely manner and no unforeseen complication arises.
  3. all parties to the transaction are co-operative and there is no unreasonable delay in providing necessary documentation.
  4. no indemnity policy is required in respect of the transaction. Additional disbursements by way of premiums may apply if any indemnity policy is required.
  5. no funds are being provided by a party other than our client (for example by a mortgage lender, third party deposits, contributions from parents/relatives and/or other parties).
  6. the chain is no longer than four properties.
  7. there is no element of Help to Buy in any property in the chain, including any Help to Buy ISA or other similar products.
  8. all joint purchasers are proposing to hold the property as joint tenants.
  9. the property is not a new-build property.
  10. the property is not a buy to let property.

Disbursements and additional costs

Disbursements are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Examples of the likely disbursements are as set out below. This list is not exhaustive. Other disbursements may apply.

  • Desk-top search fees: £200 to £500 (including VAT), depending upon the location, nature, type of the property
  • Land Registry fee: £20 to £910 depending on the price or value of the property
  • Land Registry Search fee £3 (exclusive of VAT) per search
  • Land Charges Search fee £2 (exclusive of VAT) per name
  • Stamp Duty (SDLT)/ Land Tax (LLT): Please see below
  • Electronic money transfer fee: £42.00 (inclusive of VAT) per transfer
  • Anti-money laundering (AML) checks as required: £2.02 (inclusive of VAT) per UK individual. Different fees apply to UK companies and other organisations/entities.
  • Leasehold Pack from your Landlord/Management Company/ Managing Agent: £150 to £350 (exclusive of VAT).
  • Landlord’s legal fees – for example in relation to Deed of Covenant, Licence for Assignment, Certificate of Compliance, Notice of Assignment/Charge, and/or new Share Certificate(s).
  • Courier/ special delivery costs.

Stamp Duty/ Land Tax

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.

SALE – key stages in the transaction

  • Take your instructions and give you initial advice;
  • Obtain copies of your title and check for any restrictions on the sale;
  • Prepare contract documents;
  • Assist you in completing replies to the enquiries raised by buyer's solicitor;
  • Liaise with your landlord(s) (where necessary);
  • Send final contract to you for signature;
  • Agree completion date;
  • Exchange contracts and notify you that this has happened;
  • Obtain a settlement figure from your lender (if applicable);
  • Complete sale;
  • Deal with repayment of your mortgage (if applicable);
  • Pay estate agents (if applicable); and
  • Account to you for net sale proceeds.

PURCHASE – key stages in the transaction

  • Take your instructions and give you initial advice;
  • Check finances are in place to fund purchase and contact lender's solicitors (if applicable);
  • Receive and advise on contract documents;
  • Carry out necessary desk-top searches;
  • Obtain planning and/or building regulation documentation as may be required;
  • Make necessary enquiries to the seller’s solicitor;
  • Report on title of the property;
  • Liaise with your lender (or the lender’s solicitors, if we are not acting for your lender directly);
  • Advise you on joint ownership (if applicable);
  • Agree completion date (date from which you will 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 SDLT/LTT;
  • Deal with application for registration at HM Land Registry; and
  • Send you the deeds.

 

 

Contact

Mayumi Hawkes
Consultant Solicitor