For a more accurate, detailed estimate of the likely fees which will be payable for your matter and an explanation of the process and possible timescales involved, you will need to call us on 020 8347 4070.

 

We can only provide estimates based on the information you provide us with and on the assumption that the transaction will not prove to be substantially more complex or time consuming than expected. If the matter proves to be complex, you will be informed by the person dealing with your matter about any additional fees likely to be charged and why. The hourly rate of the person dealing with the matter may then apply.

 

If the matter does not proceed to completion, any work done and payments made up to that point will remain chargeable.

 

Please find below some examples of possible estimates for different transactions to help you see how the fees/prices are structured:

 

Freehold Sale

 

Property Sale Price: £500,000.00

Postcode: N8 9QH                            

 

Professional Fees                                          Ex VAT                                   Inc VAT

Conveyancing fee                                           £850.00                                 £1,020.00

 

Disbursements (Third Party costs)

Official Copies                                                £6.00                                       £6.00

Bank transfer                                                 £20.00                                    £24.00

 

Total                                                                £876.00                                  £1,050.00

 

 

Freehold Purchase

 

Property purchase price: £500,000.00

 

Professional fees                                          Ex VAT                                   Inc VAT

Conveyancing fee                                          £900.00                                 £1,080.00

 

Searches

Residential search bundle                           £288.00                                 £345.60

(Official Local Authority Search,

Drainage & Water search, Chancel

Search & Environmental Search)

 

Disbursements (Third Party costs)

 

OS1                                                                £3.00                                      £3.00

Bankruptcy Search (per person)                £2.00                                      £2.00

Stamp Duty Land Tax                                  £15,000.00*                           £15,000.00*

Land Registry fee                                         £135.00                                  £135.00

Bank transfer                                               £20.00                                     £24.00

 

Total                                                              £16,348.00                            £16,589.60   

 

*Please note that the liability for Stamp Duty Land Tax has been calculated on the basis that there no exemptions or reliefs available and that the Purchaser will only own one property on completion.

 

 

 

 

 

 

 

Leasehold Sale

 

Property Sale Price: £500,000.00

 

Professional Fees                                        Ex VAT                                   Inc VAT

Conveyancing fee                                         £950.00                                 £1,140.00

 

 

Disbursements (Third Party costs)

Official Copies                                              £6.00                                      £6.00

Management pack (estimate)                    £300.00                                  £360.00

Bank transfer                                               £20.00                                    £24.00

 

Total                                                              £1,276.00                               £1,530.00

 

 

 

 

 

 

 

Leasehold Purchase

 

Property purchase price: £500,000.00

 

Professional fees                                         Ex VAT                                   Inc VAT

Conveyancing fee                                         £1,000.00                              £1,200.00

 

Searches

Residential search bundle                          £288.00                                  £345.60

(Official Local Authority Search,

Drainage & Water search, Chancel

Search & Environmental Search)

 

Disbursements (Third Party costs)

 

OS1                                                                £3.00                                       £3.00

Bankruptcy Search (per person)                £2.00                                       £2.00

Stamp Duty Land Tax                                  £15,000.00*                            £15,000.00*

Land Registry fee                                         £135.00                                  £135.00

Notice fees (estimated)                                £150.00                                  £180.00

Bank transfer                                                £20.00                                    £24.00

 

Total                                                              £16,598.00                              £16,889.60   

 

*Please note that the liability for Stamp Duty Land Tax has been calculated on the basis that there no exemptions or reliefs available and that the Purchaser will only own one property on completion.

 

 

 

 

 

 

 

Remortgage

 

Remortgage amount: £300,000.00

 

Professional Fees                                         Ex VAT                                   Inc VAT

Conveyancing fee                                         £700.00                                  £840.00

 

Disbursements (Third Party costs)

Official Copies                                               £6.00                                      £6.00

OS1                                                                £3.00                                      £3.00

Bankruptcy Search (per person)                £2.00                                      £2.00

Land Registry fee                                         £40.00                                    £40.00

Bank transfer                                               £20.00                                    £24.00

Residential search bundle                          £288.00                                  £345.60

(Official Local Authority Search,

Drainage & Water search, Chancel

Search & Environmental Search)

 

Total                                                              £1,059.00                              £1,260.60

 

 

 

 

 

 

What does our fee include?

Our fees cover all the work* required to complete the transaction, 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.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages, these include:

  • Taking your instructions and giving you initial advice

  • Checking finances are in place to fund purchase and contacting lender's solicitors if needed

  • Receiving and advising on contract documents

  • Carrying out searches

  • Obtaining further planning documentation if required

  • Making any necessary enquiries of seller's solicitor

  • Giving you advice on all documents and information received

  • Going through conditions of mortgage offer

  • Sending the final contract to you for signature

  • Drafting the Transfer

  • Advising you on joint ownership, if appropriate

  • Obtaining pre-completion searches

  • Agreeing a completion date (date from which you own the property)

  • Exchanging contracts and notifing you that this has happened

  • Arranging for all monies needed to be received from lender and you

  • Completing the purchase and redeeming a single mortgage

  • Dealing with payment of Stamp Duty/Land Tax

  • Dealing with the application for registration at Land Registry

 

* Our fees assume that:

  1. 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

  2. that any Leasehold purchase concerns the assignment of an existing lease and not the grant of a new lease. Where an existing lease is assigned, that the lease does not need to be extended

  3. the transaction is concluded in a timely manner and no unforeseen complication arise

  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

 

What are Disbursements?

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. The disbursements which we anticipate will apply are set out above. This list is not exhaustive and other disbursements may apply depending on the nature of the transaction. We will update you on the specific fees prior to incurring the same.

 

How long will my transaction take?

How long it will take from us being instructed until completion will depend on a number of factors. The average process takes between 6-8 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 10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

This site was designed with the
.com
website builder. Create your website today.
Start Now