PRICING
RESIDENTIAL CONVEYANCING (Buying / selling residential property)
For a quote specifically tailored to your transaction please contact us.
Our charges are made up of:
Fees for legal work
‘Disbursements’ – disbursements are costs related to your file that are payable to third parties (such as Land Registry fees). We handle the payment of the disbursements on your behalf
Stamp Duty Land Tax (for property purchases)
Our fees
Our fees depend upon the value of the property you are buying or selling and are listed below:
We charge a sliding scale of £600– £5000 + VAT for a freehold sale.
We charge a sliding scale of £600 – £5000 + VAT for a freehold purchase.
We charge a sliding scale of £1000– £5000 + VAT for a leasehold sale.
We charge a sliding scale of £1000 – £5000 + VAT for a leasehold purchase.
We charge a sliding scale of £1000 – £5000 + VAT for a re-mortgage.
Please note that VAT of 20% is also charged on all of our fees or legal work.
If, at any point during the transaction, money needs to be sent by telegraphic transfer, the bank charges are £20 plus VAT and we charge a fee of £20 plus VAT.
Disbursements
The ‘disbursements’ which you pay will depend upon whether you are buying or selling property or both, whether you are buying a freehold or leasehold property and the location and type of property concerned. Properties in certain locations for example need more searches and checks than others.
Normally all clients who are buying a ‘freehold’ property will need to pay the following disbursements (please note that these are an estimate only at this stage):
Search fees between £300-500 excluding VAT
HM Land Registry fees between £20 and £910 depending on the value of the transaction and whether the application can be lodged electronically at the Land Registry
SDLT £15 submission fee
AP1 £15 submission fee
Bankruptcy Land Charges Search £5 per name
Land Registry Search £5 per search per title number
AML/online ID check £15 for each check we have to carry out
Lawyer Checker fee £15 per firm
When selling a property you will ordinarily need to pay the following disbursements:
Land Registry Office Copy Entries and Title Plan £10 per title number
Client bank account checker £5
If selling a leasehold property you will need to provide the buyer with a management pack. The fees will depend on the managing agent and are difficult to estimate but are often between £350 – £750 plus VAT (although some managing agents will charge much more)
If the property being purchased is a ‘leasehold’ property then in addition to the disbursements outlined above for buying a freehold property, there will be the following disbursements:
Notice of Transfer fee – This fee if chargeable may be set out in the lease. Often the fee is between £75 – £150 plus VAT
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-£150 plus VAT
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 £150-350 plus VAT
Certificate of Compliance fee – To be confirmed upon receipt of the management pack and often will range between £75-150 plus VAT.
If you are re-mortgaging, then the disbursements will be similar to those set out above for buying a freehold property and there will also likely be Notice of Charge and Certificate of Compliance fees in line with the above for leasehold properties.
If our source of funds checks become a lot more time consuming than expected (eg. these derive from gifts/personal loans/crypto assets) then we do charge additional fees for the enhanced due diligence checks. These fees range from £250 - £1000 based on the complexity of the investigation needed.
We also charge an additional £500 plus VAT for any complex lender transactions (eg. Islamic Finance).
Stamp Duty Land Tax
If you are buying a property, you will also need to pay stamp duty land tax. The amount which you need to pay to the government depends on your circumstances and the price of the 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).
Other costs to consider.
If you have a mortgage on the property or have incurred an estate agent’s fee, we would also typically need to pay the money owed directly to your lender and agent as needed from the sale money we receive for you.
You should also be aware that if you are purchasing a leasehold property then ground rent 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.
COMMERCIAL PROPERTY (Buying / selling commercial property)
Commercial property fee structuring is similar to residential as above. For disbursements and SDLT fees please refer to the residential section. The only difference would be the fees for legal work due to the complexities involved in commercial transactions.
Our fees depend upon the value of the property you are buying or selling and are listed below:
We charge a sliding scale of £1500– £5000 + VAT for a freehold sale.
We charge a sliding scale of £1500 – £5000 + VAT for a freehold purchase.
We charge a sliding scale of £1500– £5000 + VAT for a leasehold sale.
We charge a sliding scale of £1500 – £5000 + VAT for a leasehold purchase.
We charge a sliding scale of £1500 – £5000 + VAT for a re-mortgage.