Estimated Fees for some of the Conveyancing Services we provide.

Stages of the Process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some of the key stages that you may find helpful to understand the process.

Estimated Fees for some of the Conveyancing Services we provide. Please note that 20% VAT will be added to all estimated fees given below.

Purchase of a Leasehold residential property
Our fees cover all of the conveyancing work* required to complete the purchase of your new home including completion of Stamp Duty Land tax Forms,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 and dealing with registration at the HM Land Registry. Our fees are divided in two parts as detailed below and in accordance with some of the additional work completed on behalf of buyer and the lender.
Conveyancer’s fees and disbursements

• Legal feePurchase Price
  £595.00 from £10,000.00 to £150,000.00
  £695.00 from £151,000.00 to £250,000.00
  £795.00  from £251,000.00 to £399,000.00
  £850.00 from £400,000.00 to £550,000.00
  £950.00 from £551,000.00 to £750,000.00
  £1,050.00 from £751,000.00 to £850,000.00
  £1,250.00  from £851,000.00 to £999,000.00

• Fee for acting on behalf of lender (mortgagee/ Bank) where the buyer is obtaining the mortgage loan for his/her purchase: £150.00 Plus VAT.
• Fee for completing the Stamp Duty Land Tax forms: £75.00 plus VAT.
• Preparation of Notice of aaignment/ transfer of lesae and Charge. £75.00 Plus VAT.

NB: Please contact us directly for obtaining our estimated conveyancing quote for the properties being purchased at £1 Million and above.

• Search fees range from £225.00 to £400.00 depending on types of searches required/ordered.
• HM Land Registry fee is applicable and paid according to the value of the property.
• Electronic money transfer fee £20.00 for each transaction.
• VAT is payable at a current rate of 20% on all fees and disbursements.

Referral fee (if any)

• Amount of referral fee paid; To be advised as per refferal fee agreement.
• Recipient of referral fee: To be advised as and when such arrangements are made.

Estimated total: To be advised on each individual quote as and when enquired. However, plesae use the above figures as an estmated guide line.

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. 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.

• Search fees range from £225.00 to £400.00 depending on types of searches required/ordered.
• HM Land Registry fee is applicable and paid according to the value of the property.
• Electronic money transfer fee £20.00 for each transaction.
• VAT is payable at a current rate of 20% on all fees and disbursements

Anticipated Disbursements*

• Notice of Transfer/Assignment of lesae fee – This fee if chargeable is set out in the lease and in the replies of freeholder/management pack. Often the fee is between £90- £200
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease and in the replies of freeholder/management pack. Often the fee is between £90- £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 £100 and £200.
• Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £150 – £250.
• ALL ABOVE FEES ARE SUBJECT TO CHANGE AND DIFFER GREATLY BETWEEN LANDLORDS AND THEIR MANAGING AGENTS. IN SOME CASE THERE ARE MULTIPLE MANAGING AGENTS FEES PAYABLE.

*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 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 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 websiteif the property situated in England or by using the Welsh Revenue Authority’s website. if the property is located in Wales.

Stages of the Process
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some of the key stages that you may find helpful to understand the process.

• 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
• Provide you advice on all documents and information received
• Go through conditions of mortgage offer
• Send final contract to you for signature or ask you to sign the contract at our office.
• Draft Transfer
• Advise you on joint ownership
• Order pre-completion searches
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you accordingly
• Arrange for all monies needed to be received from lender and you
• Complete purchase
• Deal with completion of Stamp Duty Land Tax forms and payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry
• Prepare and forward the Notice of assignment of lease and charge to the freeholder

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 8-12 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 8-10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.

* Our 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.
• Also factors that would typically increase the cost of our legal service. For example:
• if legal title is defective or part of the property is unregistered
• if we discover building regulations or planning permission has not been obtained
• if crucial documents we have previously requested from the client and have not been provided