- 01752 895252
- ks@kingsols.co.uk
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 a straightforward sale of your property.
Matter Set-up Fee
At the start of your matter 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 so 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 sale of a registered Freehold property. Freehold is where you have full ownership of the property. Based upon our experience, we estimate the time taken to reach completion for a straightforward freehold sale will be between 8 and 10 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 8 hours.
| Property Value | Legal Fee plus VAT | Telegraphic Transfer Fee plus VAT | Official Copies of F/H Registered Entries plus VAT | VAT | Total |
| Up to £499,999 | From £1400.00 | £34.00 | £14.00 | From £289.60 | From £1737.60 |
| £500,000 to £749,999 | From £1800.00 | £34.00 | £14.00 | From £369.60 | From £2217.60 |
| £750,000 to £999,999 | From £2400.00 | £34.00 | £14.00 | From £489.60 | From £2937.60 |
| Over £1million | 0.75% of the sale price | £34.00 | £14.00 | To be confirmed | To be confirmed |
Leasehold Properties
The table below lists our fee for acting for you if the property you are selling is a registered Leasehold property. Leasehold is where the property is held on a Lease, for example an apartment in a block. There is always extra work involved in dealing with Leasehold property and our fees allow for dealing with the Management Company and/or Freehold Landlord’s enquiries, obtaining the Management Company pack and checking this, calculating apportionments and all additional ancillary telephone calls, attendances, emails and correspondence. Based upon our experience, we estimate the time taken to reach completion for a straightforward leasehold sale 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 | Official Copies of F/H/ & L/H Registered Entries plus VAT | VAT | Total |
| Up to £349,999 | From £1750.00 | £34.00 | £28.00 | From £362.40 | From £2174.40 |
| £350,000 to £499,999 | From £2250.00 | £34.00 | £28.00 | From £462.40 | From £2774.40 |
| Over £500,000 | From £2750.00 | £34.00 | £28.00 | From £560.40 | From £3462.40 |
Landlord/Managing Agent Fees for Leasehold properties
If you are selling a Leasehold property, there will be additional charges payable to the freehold landlord or their managing agent. These charges vary from property to property but would normally include the following:
Replying to the Leasehold Property Enquiries (LPE1) form – fees can range from £100.00 to £300.00
Licence to Assign – required if the landlord needs to approve the buyer as the new owner(s) of the property, for example a retirement property may be restricted to someone over a certain age.
Transfer and/or Contingency fees (also known as Exit fees) – a retirement flat lease may include these and they are payable from the sale proceeds. They are usually calculated as a percentage of the property value (often at around 1%).
These charges usually include VAT, unless otherwise stated, and we would be able to give you a more accurate indication of the costs and VAT once we received the leasehold pack from the landlord or their agent.
Redeeming your existing Mortgage
If there is a mortgage registered against the property you are selling, we charge an additional £175.00 + VAT for redeeming (repaying) that mortgage on completion. If there is more than one registered mortgage or legal charge, there will be an additional fee of £50.00 + VAT for the work involved in dealing with each additional lender and their loan redemption. This cost comes as a result of the current increased demands from high street Lenders (i.e. Banks and Building Societies) and the level of responsibility placed upon Solicitors acting for them.
Indemnity Insurance
If we need to obtain Indemnity Insurance on your behalf, for example for missing Title deeds, defects in the Title, missing planning permission consents or building regulation certificates, we charge the sum of £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.
Disbursements
Disbursements are expenses payable to a third party for services provided by them during the course of your sale, for example, the Official Copies of the Registered Entries from the Land Registry.
Other Expenses
Once we have had an opportunity to inspect the Title Deeds and other documents provided by you or obtained on your behalf, we can advise you fully on the likelihood of any additional costs and we will keep you fully informed on costs generally as your matter progresses.
Estate Agent
If there is one, there will also be the Estate Agent’s commission to pay on completion of your sale. You will have agreed this in advance with the agent and we usually arrange payment of their invoice from the sale proceeds on the day of completion to ensure a smoother process. Agent’s fees attract VAT at the current rate of 20%.
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.
Sales by Attorneys or Executors
Please note that Freehold or Leasehold sales by Attorneys or Executors will be charged at an hourly rate, starting from £200.00 + VAT. Once we have all the information to hand, we shall give you a time estimate so that you can budget accordingly. In the case of Executor sales, the legal costs are usually paid from the Estate. Please Contact Us for more information.
What will affect the costs listed above?
If, once you have provided us with the deeds and other documents, or during the course of your sale, it transpires that your matter will be more complex or protracted that originally believed, 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:
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 sale 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 sale of a residential property vary according to the circumstances but essentially we will:
How long will my sale take?
How long it will take from you accepting an offer until you move out will depend on a number of factors. Currently, on average, a sale takes around 12 weeks. It can be quicker or slower, depending on the number of parties in the chain. For example, if you and your buyer are the only ones involved, it could take 8 – 10 weeks.
However, if you are selling a leasehold property this can take significantly longer due the involvement of additional third parties such as the Management Company and/or Freehold Landlord. Sometimes, leasehold sales can take 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
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Homeowners Alliance
With nearly a decade of legal practice at respected firms such as Hine Solicitors, Coffin Mew (now Knights plc) and Dutton Gregory. Peter brings deep expertise in conveyancing and property law. He also serves as the Managing Director of Clutton Cox, a specialist conveyancing firm in based just outside Bristol.
Peter’s leadership is defined by a strategic focus on client care, operational excellence, as well as rapid but sustained growth. Calm under pressure and resolutely outcomes-driven, he remains actively involved in the day-to-day management of the firm, ensuring Kings Solicitors delivers a consistently high standard of legal service.