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Our Fees
We aim to give you transparency from the outset with no hidden fees or last-minute “add-ons”. Our fee covers all of the standard work required to complete the purchase of your new home.
Matter Set-up Fee
At the start of each of your matters we shall ask you for the sum of £80.00 plus VAT at 20% (so a total of £96.00). This is to allow for the work required in conducting the initial risk assessment, opening the file and setting the matter up on our Case Management System, carrying out the required due diligence and anti-money laundering checks.
This sum is in addition to the costs information set out below and is non-refundable.
Pricing
We always endeavour to give you a realistic indication of the potential costs involved, with no “hidden extras”. You will see from the tables below that our costs are set out according to the value of the property being sold. This is because there is a perceived greater risk involved in dealing with higher-value properties and our fees reflect the views of many Insurers. Any fees/costs or disbursements (money which we have to pay to third parties in connection with the matter we are dealing with on your behalf) which are subject to VAT at the current rate of 20% are listed as such.
Freehold Properties
The table below lists our fee for acting for you in your purchase of a registered Freehold property. Freehold is where you will have full ownership of the property. Based upon our experience, we estimate the time taken to reach completion in a straightforward Freehold transaction will be between 10 and 12 hours. Hourly rates start from £175.00 (plus VAT) and rise according to the value of the property. The estimate below is the starting cost at 10 hours.
| Property Value | Legal Fee plus VAT |
Telegraphic Transfer Fee plus VAT |
Pre-Contract Search Pack + Completion Monitor plus VAT |
Land Registry Official Search | Bankruptcy Search | Stamp Duty Form completion & submission plus VAT |
VAT | Total* |
| Up to £499,999 | From £1750.00 | £34.00 | £233.50 | £7.00 | £6.00 per name |
£50.00 | From £413.50 |
From £2494.00 |
| £500,000 to £749,999 | From £2250.00 | £34.00 | £233.50 | £7.00 | £6.00 per name |
£50.00 | From £513.50 |
From £3094.00 |
| £750,000 to £999,999 | From £3000.00 | £34.00 | £233.50 | £7.00 | £6.00 per name |
£50.00 | From £663.50 |
From £3994.00 |
| Over £1 million | 0.75% of the purchase price | £34.00 | £233.50 | £7.00 | £6.00 per name | £50.00 | To be confirmed | To be confirmed |
* PLUS the Land Registry Registration Fee and Stamp Duty Land Tax payment detailed below
Leasehold Properties
The table below lists our fee for acting for you if the property you are buying is a registered Leasehold property, where the property is held on a Lease, for example an apartment in a block. There is always more work involved with buying a Leasehold property and our fee reflects the extra work involved in dealing with the Management Company and/or Freehold Landlord’s enquiries, investigating the Leasehold Title as well as the Freehold Title, checking and advising you on the Lease itself, calculating apportionments and all additional ancillary telephone calls, attendances, emails and correspondence. Based upon our experience, we estimate the time taken to reach completion in a straightforward Leasehold transaction will be between 12 and 14 hours. Hourly rates start from £175.00 (plus VAT) and rise according to the value of the property. The estimate below is the starting cost at 12 hours.
| Property Value | Legal Fee plus VAT |
Telegraphic Transfer Fee plus VAT |
Pre-Contract Search Pack plus VAT |
Land Registry Official Search | Bankruptcy Search | Stamp Duty Form completion and submission plus VAT |
VAT | Total* |
| Up to £349,999 | From £2100.00 | £34.00 | £199.74 | £7.00 | £6.00 per name | £50.00 | From £476.74 |
From £2873.45 |
| From £350,000 to £499,999 | From £2700.00 | £34.00 | £199.71 | £7.00 | £6.00 per name | £50.00 | From £596.74 | From £3593.45 |
| Over £500,000 | Froom £3300.00 | £34.00 | £199.71 | £7.00 | £6.00 per name | £50.00 | From £716.74 | From £4313.45 |
* PLUS the Land Registry Registration Fee and Stamp Duty Land Tax payment detailed below
Landlord/Managing Agent Charges for Leasehold Property
Buyers of Leasehold properties also have additional fees to pay to the landlord and/or managing agent. These fees vary from property to property. We will not know the exact amount required for these fees until the landlord has confirmed this to us but they are as follows:
- Notice of Transfer and/or Notice of Charge fee (if the property is to be mortgaged)– This fee, if chargeable, is set out in the lease. You should allow for between £250.00 – £295.00.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease.
The fees are usually inclusive of VAT, unless otherwise stated, and we would be able to give you more accurate figures once we receive the information from the landlord or their agent.
You should also be aware that ground rents 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 this we receive this information and report to you fully on this.
Land Registry Fees
As part of our service, we will make the application to the Land Registry to register you as the owner(s) of the property. We use the Land Registry’s business portal to make the application and the usual fee is highlighted in yellow. The fee is based upon the value of the property.
Use the table to calculate the Land Registry fee and add this to the legal fees and other fees above. There is no VAT payable on the Application fee.
| Value or amount | Apply by post | Apply using the portal or Business Gateway, for transfers or surrenders which affect the whole of a registered title |
Apply using the portal or Business Gateway, for registration of all leases and transfers or surrenders which affect part of a registered title |
Voluntary first registration (reduced fee) |
| 0 to £80,000 | £45 | £20 | £45 | £30 |
| £80,001 to £100,000 | £95 | £40 | £95 | £70 |
| £100,001 to £200,000 | £230 | £100 | £230 | £170 |
| £200,001 to £500,000 | £330 | £150 | £330 | £250 |
| £500,001 to £1,000,000 | £655 | £295 | £655 | £495 |
| £1,000,001 and over | £1105 | £500 | £1105 | £830 |
Stamp Duty or Land Tax (SDLT)
This depends on the purchase price of your property and various other factors such as whether you are a first-time buyer, or if you own other residential properties, or whether you intend use the new property as your main residence. You can calculate the amount you will need to pay by using HMRC’s website at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax or if the property is located in Wales by using the Welsh Revenue Authority’s website https://beta.gov.wales/land-transaction-tax-calculator
SDLT Form completion and submission
Completing and submitting the SDLT Return to HMRC and paying any taxes due must be done within 14 days of completion of your purchase. In order to avoid delays, which incur fines and penalties, we will complete and submit the Return on your behalf. We charge the sum of £50.00 + VAT for this service, as stated in the table above.
Acting for a Mortgage Lender
If you need a mortgage in order to buy your property, we charge £175.00 + VAT for acting for one lender. We charge a further £175.00 + VAT for acting for each additional lender. This is due to the current increased demands of the high street lenders and the level of responsibility placed upon Solicitors acting for them. Lenders include registerable mortgages and loans from Banks and Building Societies and also loans from parents, family members or other parties.
Indemnity Insurance
Providing Indemnity Insurance Policies for events such as missing Title deeds, defects in the Title, missing planning permission consents or building regulation certificates is usually the responsibility of the Seller. However, if this cannot be negotiated and you still wish to have cover for any of these, we would obtain a Policy/Policies on your behalf. We charge £50.00 + VAT for arranging each Policy. In addition to this will be the cost of the Policy itself, which will include the Premium plus the Insurance Premium Tax (IPT). Prices are dependent upon the amount of cover required (usually the current value of the property) and the type of Policy required.
*Add together all the legal fees and other disbursements (expenses) above to give you an estimate of the overall anticipated expenditure.
Other expenses
Once we have had an opportunity to inspect the Title Deeds and other documents provided by you or obtained on your behalf, there may be a requirement to provide such things as Indemnity Insurance (e.g. for missing planning permissions, building regulations certificates, FENSA certificates) as noted above, or other paperwork required by the Buyer. We can advise you fully on the likelihood and cost of this as your matter progresses.
Disbursements
Disbursements are expenses payable to third parties for services provided by them during the course of your purchase, for example the pre-contract searches and Land Registry fees listed in the tables above. We will handle the payment of the disbursements on your behalf to ensure a smoother process.
Value Added Tax (VAT)
We are registered for VAT under VAT Registration No: 400 604 555. Our fees are therefore subject to VAT at the current rate of 20%.
A full breakdown of any other costs and expenses incurring VAT at the current rate would be given in our costs estimate and client care letters, and during the course of your transaction once this information became available.
What factors may affect this cost estimate?
If, once we are in receipt of the draft contract papers, or during the course of your purchase, it turns out that your matter will be more complex or protracted than originally thought, we may need to reassess our original fee and provide you with an updated one.
There may be a number of outline factors that would typically increase the cost of the service we provide. For example:
- If the legal title is defective or part of the property is unregistered
- Following an adverse survey or homebuyers report, where you wish us to negotiate with the Sellers’ solicitor over the price of the property
- Where you ask us to carry out any task that would ordinarily be undertaken by a third party
For information on what is included in our fee and what is not included please click here.
Power of Attorney
To avoid unnecessary delays in the process, we can also prepare a Power of Attorney if you are likely to be away while your purchase goes ahead. You can appoint an Attorney to make decisions and give us instructions and to sign important documents on your behalf such as the Contract and Transfer Deed. Our Conveyancing team will be happy to tell you more about this and what we charge to prepare the document if required.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances but essentially we will:
- Take your instructions and give you initial advice
- Carry out the required identification and Anti Money Laundering checks
- Check the finances are in place for you to fund your purchase and contact your lender (if applicable)
- Receive, peruse and advise you on contract documents
- Carry out the required pre-contract searches
- Raise any necessary enquiries of your seller’s conveyancer
- Give you advice on documents, searches and other information received
- Go through the conditions of your mortgage offer with you (if applicable)
- Send the final contract to you for signature
- Agree the completion date (date from which you will own the property) with you and your sellers
- Obtain the deposit funds from you
- Exchange contracts
- Arrange for all completion monies needed to be received from your lender and you in time for completion day
- Formally complete your purchase
- Deal with any submission and payment of Stamp Duty Land Tax
- Deal with the application to register you as the new owner(s) of the property at the Land Registry
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. Currently, an average purchase takes around 12 weeks. It can be quicker or slower, depending on the number of parties in the chain. For example, if there is only you and your seller involved, with no Mortgages to apply for or redeem, it could take 8 – 10 weeks but if are a first time buyer, purchasing a new build property with a mortgage in principle, it could take several months.
If you are buying a leasehold property this can take significantly longer, between 14 – 16 weeks, and potentially more if the property requires an extension of the lease (in such a situation additional charges would apply).
Useful Links
HM Land Registry
Environment Agency
Home Owners Alliance