Conveyancing
How We Charge - Conveyancing
We are required by the SRA to provide information on our website regarding how our fees are calculated for certain types of matters. This information is below. Please note however that as a firm it is our policy to treat all clients and instructions as individuals and we would therefore welcome the opportunity to talk to you and provide an estimate that is tailored to your specific needs.
Please note that unless specifically agreed with us, the indication of fees supplied below is our best estimate but not a fixed fee. If it becomes apparent that there are unforeseen circumstances or complexities or if your requirements or the circumstances change significantly during the course of the matter we will inform you wherever possible before incurring additional cost.
Purchase of a 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
- Our legal fee for carrying out the work for you is estimated to be £1,550.00 plus VAT of £310.00 for a property at a price of less than £1,000,000.00 and £2,250.00 plus VAT of £450.00 for a property at a price between £1,000,000.00 and £2,000.000.00. For properties at a price of more than £2,000,000.00 please telephone so we can provide a bespoke estimate depending on the complexity of the transaction but typically this would be between £3,500.00 to £6,000.00 plus VAT of between £700.00 and £1,200.00.
- Search fees of approximately £200.00 - £400.00 depending on the Local Authority in which the property is situated.
- A Land Registry registration fee which is dependent on the price being paid for the property. The current fees can be obtained at https://landregistry.data.gov.uk/fees-calculator.html
- An Electronic money transfer fee £35.00 plus VAT of £7.00
- Lawyer Checker and cyber security searches £35.00 plus VAT of £7.00
- Our additional legal fee if the property is leasehold is £250.00 plus VAT of £50.00
- Our additional legal fee if the property is a new-build property is £400.00 plus VAT of £80.00
- Our additional legal fee is the property is shared ownership is £250.00 plus VAT of £50.00
- Our additional legal fee if the property is a retirement property is £250.00 plus VAT of £50.00
- Our additional legal fee if we are instructed to act for your mortgage lender is £250.00 plus VAT of £50.00. Some lenders also charge a fee for using their panel management system and these fees vary from approximately £10.00 to £20.00
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.
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 or if the property is located in Wales by using the Welsh Revenue Authority's website here..
How long will my house purchase take?
The time 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 6-12 weeks.
The conveyancing process 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 9 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. We have set out below the usual tasks that we will complete during the transaction. We will:
- 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
Potential additional disbursements for a leasehold residential property
This list is not exhaustive and other disbursements may apply depending on the terms 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 Transfer fee – This fee if chargeable is as set out in the lease. Often the fee is between £75.00-£200.00.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £75.00 and £200.00.
- 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 £100.00 and £250.00.
- Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £100.00 – £250.00.
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.
Sale of a residential property at a price
Our fees cover all of the work required to complete the sale of your property including redeeming any mortgage secured against the property.
Conveyancer's fees and disbursements
- Our legal fee for carrying out the work for you is estimated to be £1,400.00 plus VAT of £280.00 for a property at a price of less than £1,000,000.00 and £2,025.00 plus VAT of £405.00 for a property at a price between £1,000,000.00 and £2,000.000.00 . For properties at a price of more than £2,000,000.00 please telephone so we can provide a bespoke estimate depending on the complexity of the transaction but typically this would be between £3,500.00 to £6,000.00 plus VAT of between £700.00 and £1,200.00.
- Land Registry disbursements of approximately £6.00 - £18.00 depending on the documents required.
- An Electronic money transfer fee £35.00 plus VAT of £7.00 per money transfer
- Lawyer Checker and cyber security searches £35.00 plus VAT of £7.00
- Our additional legal fee if the property is leasehold is £200.00 plus VAT of £40.00
- Our additional legal fee is the property is shared ownership is £300.00 plus VAT of £60.00
- Our additional legal fee if the property is a retirement property is £200.00 plus VAT of £40.00
- A Fee payable to any management company or freeholder that manages the building which will vary from property to property but is often between £200.00-450.00 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 the offer being accepted until the sale completes will depend on a number of factors. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 9 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that apply to the majority of transactions. We will:
- Take your instructions and give you initial advice
- Arrange for you to complete the protocol forms
- Obtain and investigate the title to the property and your right to sell the property
- Obtain a redemption statement from your mortgage lender
- Obtain replies to enquiries from any management company
- Prepare contract documents and send these to the buyer’s solicitor
- Respond to any necessary enquiries of the buyer's solicitor
- Give you advice on all enquiries received
- Send final contract to you for signature
- Agree completion date (date on which you sell the property)
- Exchange contracts and notify you that this has happened
- Calculate any apportionments to be collected
- Arrange for all monies required to be collected from the buyer’s solicitor
- Complete purchase
- Pay the estate agent, if any
- Redeem the mortgage, if any
- Account to you.
Our estimated fee assumes that:
- 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
- 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 complication 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.
Re-mortgage of a residential property
Our fees cover all of the work required to complete the re-mortgage of your home including redeeming any mortgage secured against the property.
Conveyancer's fees and disbursements
- Our legal fee for carrying out the work for you is estimated to be £750.00 plus VAT of £150.00 for a property at a price of less than £1,000,000.00 and £1,125.00 plus VAT of £225.00 for a property at a price between £1,000,000.00 and £2,000.000.00. For properties at a price of more than £2,000,000.00 please telephone so we can provide a bespoke estimate depending on the complexity of the transaction but typically this would be between £2,000.00 to £4,000.00 plus VAT of between £400.00 and £800.00.
- Land Registry disbursements of approximately £6.00 - £18.00 depending on the documents required.
- An Electronic money transfer fee £35.00 plus VAT of £7.00 per money transfer
- Lawyer Checker and cyber security searches £35.00 plus VAT of £7.00
- Searches or Search Insurance depending on the requirements of your lender which can cost approximately £100.00 - £400.00.
- Our additional legal fee if the property is leasehold is £200.00 plus VAT of £40.00
- Our additional legal fee is the property is shared ownership is £150.00 plus VAT of £30.00
- A Fee payable to any management company or freeholder that manages the building which will vary from property to property but is often between £200.00-450.00 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 re-mortgage take?
How long it will take from the offer being issued until completion will depend on a number of factors. The average process takes between 4-8 weeks.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that apply to the majority of transactions. We will:
- Take your instructions and give you initial advice
- Obtain and investigate the title to the property and your right to re-mortgage the property
- Obtain a redemption statement from your existing mortgage lender
- Obtain replies to enquiries from any management company
- Consider the conditions of your mortgage offer and attending to any necessary requirements
- Agree completion date (date on which the transaction completes)
- Redeem the existing mortgage, if any
- Account to you.
Our estimated fee assumes that:
- 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
- the transaction is concluded in a timely manner and no unforeseen complication arise
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
One of our experienced conveyancers or solicitors will be dedicated to work on your matter and full details of our team are available here. Regardless of who works on your matter they will be supervised by Robert Selwyn, Partner and Senior Responsible Officer.
Example quotation
Below is an example of our typical fees and the disbursements incurred for a client buying a freehold property in Enfield for £750,000 with a mortgage and selling a freehold property in Enfield for £500,000 with a mortgage to redeem.
| | £ | £ VAT |
| Our legal fees of | 1,400.00 | 280.00 |
| Telegraphic Transfer Admin Fee (assuming only one transfer) | 35.00 | 7.00 |
| Office Copy Entries | 15.00 | |
| Thirdfort ID search fee (per name) | 14.95 | 2.99 |
| Cyber Security search fee | 35.00 | 7.00 |
| TOTAL: | 1,499.95 | 296.99 |
| | £ | £ VAT |
| Our legal fees of | 1,550.00 | 310.00 |
| Search fees | 333.10 | 66.62 |
| Telegraphic Transfer Admin Fees | 35.00 | 7.00 |
| Thirdfort ID search fee (per name) | 14.95 | 2.99 |
| Thirdfort source of funds search fee (per person) | 9.95 | 1.99 |
| Cyber Security search fee | 35.00 | 7.00 |
| Land Registry Fee (assuming benefit of LR online discount) | 295.00 | |
| Our fees for acting for your mortgage lender | 250.00 | 50.00 |
| Land Registry Search | 3.00 | |
| Land Charges Search (per name) | 2.00 | |
| HMRC Stamp Duty | 25,000.00 | |
| TOTAL: | 27,528.00 | 445.60 |
