The Solicitors Regulation Authority (SRA) requires that we provide pricing information in relation to certain types of work, including in relation to the sale or purchase of a residential property.
Scope of Work
Our fixed fees cover all of the legal work required to complete your transaction. For example, for a purchase this will include raising enquiries, agreeing and exchanging contracts, through to post completion matters such as payment of Stamp Duty Land Tax and registration of your title. On a sale our fees will cover preparing a draft contract and providing title information, dealing with enquiries, agreeing contracts and completing your sale.
Timescales
If your transaction proceeds smoothly then the average timescale to move to completion would be around 8-12 weeks. However, this can be significantly longer if we encounter delays or complications during the process.
Fee Example
Our fees are calculated on a sliding scale based on the sale or purchase price. The range of our base legal fees for your transaction will typically be from £595 plus VAT (of £119) – £8,000 plus VAT (of £1600). A typical example of our fees for a freehold purchase is as follows:
- Freehold purchase at a purchase Price of £300,000
- Fee Estimate: £755 plus vat and disbursements (VAT is charged on our fees and disbursements at the prevailing rate in force-currently 20%).
This is an example and you should contact us to obtain a detailed quote based on your specific requirements.
Disbursements
This is an example of our basic fee for handling a purchase at the price given above and there will be added third party costs and expenses that will be incurred on a typical transaction (known as ‘disbursements’). These are sums we collect from you and pay to third parties such as the following:
- Stamp Duty Land Tax;
- Land Registry fees (the total of which vary depending on the purchase price and nature of the transaction and the property);
- Costs of the normal Conveyancing Searches (which will also vary depending on the type of and the location of the Property; and
- Pre-completion Land Registry Searches and Bankruptcy Searches.
Example disbursements (excluding Stamp Duty Land Tax) on the ‘Fee Example’ given above are as follows:
Disbursements (subject to VAT):
- Conveyancing Search Fees approx. £220 (please note this will vary depending on Local Authority)
- Land Registry Search Fees: £3.00
- Bankruptcy Search Fees (£2.00 per person): £2.00
- Electronic ID Check (£6.00 per person): £6.00
VAT thereon (at the prevailing rate of 20%): £46.20
Disbursements (not subject to VAT)
Land Registry Fee on completion: £150
Fee Example Summary:
Example of total fees (£755), disbursements (£381) and applicable VAT (£197.20): £1333.20
Additional Conveyancing Charges
The following is a list of applicable charges that we apply where additional work, as briefly described below, is required in connection with the particular conveyancing matters
| Additional Service | Additional Charge* | Notes |
|---|---|---|
| Dealing with title defects | £150 | |
| Dealing with unsecured loans/debts | £50 | Per loan/debt |
| Registering or redeeming second charge – (Mortgage lender’s fee) | £50 | Per mortgage/charge |
| Deed of variation to Lease or Title Covenants | £250 | |
| Transfer of freehold (subject to lease) purchase per lease | £200 | Not including Land Registration fees |
| Licence to occupy | £200 | |
| File retrieval | £30 | From storage |
| Statutory declaration | £95 | |
| Advice on legal aspects on survey reports | £100 | |
| Online ID verification | £7.20 | |
| Redeeming mortgage | £100 | |
| Dealing with Unregistered Property | £200 | |
| New build properties | £300 | |
| Leasehold purchase | £200 | |
| Bank Transfer Fee (per transfer) | £30 | |
| Acting for the Lender where a mortgage is required | £150 | |
| Freeholds subject to a Management Charge | £100 | |
| To process the Conveyancing Searches | £50 | |
| To process the Stamp Duty Land Tax form | £50 | |
| Reissuing draft contracts following prior loss of buyer | £50 | |
| Declaration of Trust (simple format) | £150 | |
| Large document copying charge | £25 | |
| Help to Buy Schemes involved | £150 |
*All charges are exclusive of VAT.
Referral Fees
There may be a referral fee applicable to your transaction. In the event that there is we will inform you of this. An average referral fee would be in the region of £150.
