Conveyancing Costs

December 06, 2018

Residential Property

Conveyancing Costs
 
 
RESIDENTIAL CONVEYANCING
 
OUR TEAM
Our team has over 80 years of collective experience in delivering high quality work in all matters relating to residential conveyancing. We have five members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by Stephen Ewens, Partner and Head of Property.

Stephen Ewens – Solicitor and Partner. Stephen is the head of our team and has over 33 years' experience in conveyancing. Stephen has been working in this area since he qualified. Stephen qualified as a solicitor in 1985 and worked at different firms before moving to join our firm in 1993. He became a partner in 1999.

Gary Baker – Solicitor and Partner. Gary is the deputy head of our team and has over 33 years' experience in conveyancing. Gary has been working in this area since he qualified. Gary qualified as a solicitor in 1985 and worked at different firms before moving to join our firm in 2008. He became a partner in 2009.

Suzette Royall – Licensed Conveyancer. Suzette has over 20 years' experience in conveyancing. Suzette has been working in this area since she qualified. Suzette qualified as a licensed conveyancer in 1998 and has worked in our firm since 1994.

Tricia Miller – Conveyancer. Tricia has over 15 years' experience in conveyancing. Tricia worked at different firms before moving to join our firm in 2017. 

Kate Garrow – Solicitor. Kate has over 3 years' experience in conveyancing. Kate has been working in this area since she qualified. Kate qualified as a solicitor in 2018 and worked at different firms before moving to join our firm in 2015. 

 
OUR PRICES AND TIMESCALES
 
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.
 
Conveyancer's fees and disbursements:
House price up to £300,000 - Legal fee £895 plus VAT
House price between £300,001 and £500,000 - Legal fee £995 plus VAT 
House price between £500,001 and £750,000 - Legal fee £1,095 plus VAT
House price between £750,001 and £1,000,000 - Legal fee £1,195 plus VAT
House price between £1,000,001 and £2,000,000 - Legal fee £1,500 plus VAT
House price over £2,000,001 - Legal fee 0.1 % of the price plus VAT
Search fees approximately £450 (amount depends on the area where the house is)
HM Land Registry registration fee depends on the House price 
HM Land Registry search fees about £7
Electronic money transfer fee £30 plus VAT for each transfer
 
Stamp Duty or Land Tax are disbursements related to your matter that are payable to third parties.  We handle the payment of the disbursements on your behalf to ensure a smoother process.  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 We charge a fee of £50.00 plus VAT for making the Return to the Revenue.
 
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. The average process takes between 8-10 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such a situation additional charges would apply.
 
Stages of the process 
The precise stages involved in the purchase of a residential property vary according to the circumstances. A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lender's solicitors if needed
Receive and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of seller's solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Send final contract to you for signature
Agree 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 purchase
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry
 
Purchase of a leasehold residential property
Our fees cover all 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 is in Wales.   We charge £50.00 plus VAT for making the Return to the Revenue.
 
Conveyancer's fees and disbursements:
House price up to £300,000 - Legal fee £1,345 plus VAT
House price between £300,001 and £500,000 - Legal fee £1,495 plus VAT 
House price between £500,001 and £750,000 - Legal fee £1,645 plus VAT
House price between £750,001 and £1,000,000 - Legal fee £1,795 plus VAT
House price between £1,000,001 and £2,000,000 - Legal fee £2,250 plus VAT
House price over £2,000,001 - Legal fee 0.15 % of the price plus VAT
Search fees approximately £450 (amount depends on the area where the house is). 
HM Land Registry fee depends on the House price 
HM Land Registry search fees about £7
Electronic money transfer fee £30 plus VAT 
 
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. 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. 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. 
 
Anticipated Disbursements:
Notice of Transfer fee –This fee if chargeable is set out in the lease. Often the fee is between £100 and £200
Notice of Charge fee (if the property is to be mortgaged) –This fee is set out in the lease. Often the fee is between £100 and £200
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 £150 and £300
Certificate of Compliance fee to be confirmed upon receipt of the lease, as can range between £150 and £300
 
These fees vary from property to property and can on occasion be significantly more than the ranges given above.  We can give you an accurate figure once we have sight of your specific documents. 
 
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. 
 
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. We charge £50.00 plus VAT for making the Return to the Revenue.
 
Stages of the process 
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lender's solicitors if needed
Receive and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of seller's solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer
Send final contract to you for signature
Draft Transfer
Advise you on joint ownership
Obtain pre-completion searches
Agree 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 purchase
Deal with payment of Stamp Duty/Land Tax
Notify Landlord and/or Management Company
Deal with application for registration at 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. The average process takes between 8-10 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such, a situation additional charges would apply.
 
Our fee assumes that: 
(a) this is a standard transaction and that no unforeseen matters arise 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;
(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; 
(e) no indemnity policies are required. 
 
Additional fees and disbursements may apply if indemnity policies are required. 
 
Sale of a freehold residential property 
Our fees cover all of the work required to complete the sale of your home, including dealing with your mortgage lender to repay your mortgage (if you have one)
 
Conveyancer's fees and disbursements:
House price up to £300,000- Legal fee £795 plus VAT
House price between £300,001 and £500,000 - Legal fee £895 plus VAT 
House price between £500,001 and £750,000 - Legal fee £995 plus VAT
House price between £750,001 and £1,000,000 - Legal fee £1,095 plus VAT
House price between £1,000,001 and £2,000,000 - Legal fee £1,500 plus VAT
House price over £2,000,001 - Legal fee 0.1 % of the price plus VAT
HM Land Registry copy document fees about £6 
Electronic money transfer fee £30 plus VAT 
 
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. 
 
How long will my house sale take? 
How long it will take from you accepting an offer until you can move out of your house will depend on a number of factors. The average process takes between 8-10 weeks. It can be quicker or slower, depending on the parties in the chain.
 
Stages of the process 
The precise stages involved in the sale of a residential property vary according to the circumstances.  A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to repay your mortgage (if you have one) and contact lender's solicitors if needed
Draft and issue the contract documents
Answer any enquiries raised by the buyer's solicitor
Give you advice on all documents and information received
Send final contract to you for signature
Agree completion date (date from which you no longer own the property)
Exchange contracts and notify you that this has happened
Complete purchase
Repay your mortgage (if you have one)
 
Sale of a leasehold residential property
Our fees cover all of the work required to complete the sale of your home, including dealing with your landlord and your mortgage lender to repay your mortgage (if you have one).
 
Conveyancer's fees and disbursements:
House price up to £300,000 - Legal fee £1,195 plus VAT
House price between £300,001 and £500,000 - Legal fee £1,345 plus VAT 
House price between £500,001 and £750,000 - Legal fee £1,495 plus VAT
House price between £750,001 and £1,000,000 - Legal fee £1,645 plus VAT
House price between £1,000,001 and £2,000,000 - Legal fee £2,250 plus VAT
House price over £2,000,001 - Legal fee 0.15 % of the price plus VAT
HM Land Registry copy document fees about £12 
Electronic money transfer fee £30 plus VAT 
 
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. 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. This list is not exhaustive and other disbursements may apply depending on the term of the lease. 
 
Anticipated Disbursements:
Landlord’s fee for answering Leasehold Property Enquiries –Often the fee is between £200 and £400. 
 
These fees vary from property to property and can on occasion be significantly more than the ranges given above.  We can give you an accurate figure once we have sight of your specific documents. 
 
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. You will need to ensure that all payments are up to date.
 
Stages of the process 
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances.  A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to repay your mortgage (if you have one) and contact lender's solicitors if needed
Draft and issue the contract documents
Pay for and obtain Landlord’s and/or Management Company’s replies to Leasehold Property Enquiries 
Answer any enquiries raised by the buyer's solicitor
Give you advice on all documents and information received
Send final contract to you for signature
Agree completion date (date from which you no longer own the property)
Exchange contracts and notify you that this has happened
Complete sale
Repay your mortgage (if you have one)
 
How long will my house sale take?
How long it will take from you accepting an offer until you can move out of your house will depend on a number of factors. The average process takes between 8-10 weeks. It can be quicker or slower, depending on the parties in the chain.
 
Our fee assumes that:-
(a) this is a standard transaction and that no unforeseen matters arise 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;
(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;
(e) no indemnity policies are required. 
 
Additional fees and disbursements may apply if indemnity policies are required. 
 
Mortgage or remortgage of a freehold residential property 
Our fees cover all of the work required to complete the mortgage or remortgage of your home, including dealing with registration at the Land Registry.
 
Conveyancer's fees and disbursements:
£500 plus VAT
Search fees approximately £450 (amount depends on the area where the house is). 
HM Land Registry registration fee depends on the amount of the mortgage 
HM Land Registry search fees about £7
Electronic money transfer fee £30 plus VAT 
 
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
 
How long will my mortgage or remortgage take? 
How long it will take from your mortgage offer being issued until your new mortgage is completed will depend on a number of factors. The average process takes between 4-6 weeks. It can be quicker or slower, depending on your new mortgage provider and your existing mortgage provider (if you have one).
 
Stages of the process 
The precise stages involved in the mortgage or remortgage of a residential property vary according to the circumstances. A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to fund the mortgage or remortgage and contact your existing lender's solicitors if needed
Carry out searches
Obtain further planning documentation if required
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Agree mortgage completion date 
Arrange for all monies needed to be received from new lender and you
Complete mortgage or remortgage
Deal with application for registration at Land Registry
 
Mortgage or remortgage of a leasehold residential property 
Our fees cover all of the work required to complete the mortgage or remortgage of your home, including dealing with registration at the Land Registry and with your Landlord.
 
Conveyancer's fees and disbursements:
£650 plus VAT
Search fees approximately £450 (amount depends on the area where the house is). 
HM Land Registry registration fee depends on the amount of the mortgage 
HM Land Registry search fees about £7
Electronic money transfer fee £30 plus VAT 
 
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. 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. 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. 
 
Notice of Charge fee  – This fee is set out in the lease. Often the fee is between £100 and £200. 
 
How long will my mortgage or remortgage take? 
How long it will take from your mortgage offer being issued until your new mortgage is completed will depend on a number of factors. The average process takes between 4-6 weeks. It can be quicker or slower, depending on your new mortgage provider and your existing mortgage provider (if you have one)  and your Landlord.
 
Stages of the process 
The precise stages involved in the mortgage or remortgage of a residential property vary according to the circumstances.  A general outline is as follows:-
Take your instructions and give you initial advice
Check finances are in place to fund the mortgage or remortgage and contact your existing lender's solicitors if needed
Carry out searches
Obtain further planning documentation if required
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Agree mortgage completion date 
Arrange for all monies needed to be received from new lender and you
Complete mortgage or remortgage
Notify Landlord and/or Management Company
Deal with application for registration at Land Registry

posted by Stephen Ewens | December 06 2018