Conveyancing: Range of costs
Conveyancing Costs Information
We will provide with the price information regarding the conveyance of a residential property:
- Freehold sale or purchase
- Leasehold sale of purchase
- Mortgages or re-mortgages
Our fee structure covers the following:
- 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.
Stages of the process for Re-mortgaging properties
The precise stages involved in the remortgage of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Take your instructions and give you initial advice
- Check finances are in place to fund the remortgage
- Carry out searches
- Obtain further planning documentation if required
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Arrange for all monies needed to be received from lender and you
- Complete remortgage
- Deal with application for registration at Land Registry
How long will my house Remortgage take?
How long it will take will depend on a number of factors. The average process takes between 3 to 6 weeks.
It can be quicker or slower, depending on whether you have a mortgage in principle or own a leasehold property that requires an extension of the lease, which can take longer In such, a situation additional charges may apply.
Purchase of Freehold Residential Property
Fees & Disbursements
Legal fee: £1,500.00 plus 20% VAT
Disbursements
- Electronic money transfer fee: £30.00 plus 20% VAT.
- Search fees: £291.67 plus 20% VAT.
- ID and AML Checks (per person): £20.83 plus 20% VAT.
- Pre-completion Searches: £25.00 no 20% VAT.
- Land Registry Fee: please see below.
- Stamp Duty or Land Tax: please see below.
Estimated total (excluding Stamp Duty or Land Tax – see below): £1867.50 plus 20% VAT
Purchase of Leasehold Residential Property
The precise stages involved in the leasehold property can vary according to the circumstances and the retrieval of the management pack.
- 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
- Send final contract to you for signature
- Draft Transfer
- Advise you on joint ownership
- Obtain pre-completion searches
- 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
Fees & Disbursements
Legal fee: £1,700.00 plus 20% VAT
Purchase of Leasehold Residential Property
Disbursements
- Electronic money transfer fee: £30.00 plus 20% VAT.
- Search fees: £291.67 plus 20% VAT.
- ID and AML Checks (per person): £20.83 plus 20% VAT.
- Pre-completion Searches: £25.00 no 20% VAT.
- Land Registry Fee: please see below.
- Stamp Duty or Land Tax: please see below.
Estimated total (excluding Stamp Duty or Land Tax – see below): £2067.50 plus 20% VAT.
- Anticipated Disbursements (your transaction may attract 20% VAT)*
- Notice of Transfer fee – This fee if chargeable is set out in the Management Pack. Often the fee is between £60-£180.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the Management Pack. Often the fee is between £60-£180.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often the fee is between £60-£180.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, can range between £60-£180.
*These above-mentioned third party disbursement 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, including the property management pack.
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.
Stamp Duty Land Tax (on purchases)
This depends on the purchase price of your property. You can calculate the amount you will need to pay using HMRC’s website.
Land registry fees (on purchases)
Dealing with registration at Land Registry depends on the purchase price of your property and on the type of transaction.
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 several 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 6-10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 5 months. In such, a situation additional charges would apply.
If you wish to use an online quote calculator for residential conveyancing
Below is list of things you may wish to consider if you use an online quote calculator for conveyancing matters. You could, if you wish, build questions to
Stamp Duty Land Tax (on purchases)
- value of the property
- first-time buyer
- re-mortgage
- freehold or leasehold
- new build
- first registration of title
- whether a mortgage or not, or Islamic mortgage
- in purchase cases, whether primary residence, buy to let or second/holiday home
- multiple owners
- shared ownership scheme
- using a help to buy scheme, and whether it is an equity loan or ISA
- purchase under right to buy
- purchase at auction
- property has been repossessed
Sale of Freehold Residential properties
The precise stages involved in the sale of a residential property vary according to the circumstances
- Take your instructions and give you initial advice
- Check finances are in place to discharge mortgages if needed
- Research title and issue contact documents
- Reply to any necessary enquiries from the purchaser’s solicitor
- Give you advice on all documents and information received
- Send final contract to you for signature
- Agree completion date (date from which you will no longer own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from the purchaser’s solicitors
- Complete sale
- Deal with discharging the mortgage (if applicable)
Fees & Disbursements
Legal fee: £1,100.00 plus 20% VAT
Disbursements
- Electronic money transfer fee (to redeem any mortgage/return funds to you): £30.00 plus 20% VAT.
- ID and AML Checks (per person): £20.83 plus 20% VAT.
- Land Registry copy documentation: £7.00 plus 20% VAT.
Estimated total: £1157.83 plus 20% VAT
Sale of Leasehold Residential Properties
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances.
- Take your instructions and give you initial advice
- Check finances are in place to discharge mortgages if needed
- Research title and issue contact documents
- Reply to any necessary enquiries from the purchaser’s solicitor
- Contact the freeholder to ascertain their requirements in relation to the sale
- Give you advice on all documents and information received
- Send final contract to you for signature
- Agree completion date (date from which you will no longer own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from the purchaser’s solicitors
- Complete sale
- Deal with discharging the mortgage(s) (if applicable)
Fees & Disbursements
Legal fee: £1,300.00 plus 20% VAT
Disbursements
- Electronic money transfer fee (to redeem any mortgage/return funds to you): £30.00 plus 20% VAT.
- ID and AML Checks (per person): £20.83 plus 20% VAT.
- Land Registry copy documentation: £14.00 plus 20% VAT.
Estimated total: £1364.83 plus 20% VAT
Sale of Leasehold Residential Properties
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances.
- Take your instructions and give you initial advice
- Check finances are in place to discharge mortgages if needed
- Research title and issue contact documents
- Reply to any necessary enquiries from the purchaser’s solicitor
- Contact the freeholder to ascertain their requirements in relation to the sale
- Give you advice on all documents and information received
- Send final contract to you for signature
- Agree completion date (date from which you will no longer own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from the purchaser’s solicitors
- Complete sale
- Deal with discharging the mortgage(s) (if applicable)
Fees & Disbursements
Legal fee: £1,300.00 plus 20% VAT
Disbursements
- Electronic money transfer fee (to redeem any mortgage/return funds to you): £30.00 plus 20% VAT.
- ID and AML Checks (per person): £20.83 plus 20% VAT.
- Land Registry copy documentation: £14.00 plus 20% VAT.
Estimated total: £1364.83 plus 20% VAT
