The figures below are an illustration of likely fees for conveyancing work, but we will always give you a detailed quote specific to your particular transaction.
Sales
Our work will include:
Obtaining the information we need about the property from the Land Registry and from you (about fixtures and fittings and other matters); liaising with any landlords or managing agents, preparing the sale contract and answering the buyer's enquiries about the property and the legal title; advising you on the contract and arranging for you to sign it; agreeing the completion date and exchanging contracts; obtaining redemption figures from your lenders; obtaining and paying the estate agents’ account; liaising with the estate agents and other solicitors in the chain; approving the transfer and arranging for you to sign it; preparing completion statements confirming the amounts to be paid by the buyer and to you; redeeming any mortgages on completion and paying out the sale proceeds to you; sending the completion documents to the buyer's solicitors.
Freehold sale up to £950,000 – average fee of £1,350 plus VAT (£1,620)
Leasehold sale up to £950,000 – average fee of £1,1550 plus VAT (£1,860)
What might affect these fees?
In some cases, it is necessary to do additional work to correct a defect in a legal title, or to deal with planning permission issues or absent landlords in a leasehold transaction; or there might be multiple titles involved or more than one or two charges to redeem; or where there is a short deadline for completion. If extra work is required, we will advise you if further fees might be payable.
Likely extra expenses:
Arranging telegraphic transfers - £40 plus VAT (£48)
ID and AML checks - £25 + VAT (£30) per person (£50 + VAT (£60) for international checks)
Office Copy Entries - £20 plus VAT (£24)
Other issues which will incur increased costs (this list is not exhaustive):
· A sale or purchase with a share of freehold
· Any unusual circumstances such as length of the lease, planning or building regulations issues, listed building, estate management schemes or defective title
· Lease extension, deed of variation or other legal deed
· One off new build property (we offer set fees where we are recommended by certain developers)
· Unregistered land
· Help to Buy Scheme or Help to Buy ISA
· Auction sale or purchase
How long will it take?
We normally expect to exchange contracts in 3 to 4 weeks of the sale being agreed if everything goes smoothly. But this can be delayed by many factors including, for example, problems with the legal title, getting information from landlords or managing agents, or your buyer having difficulty obtaining a mortgage. Exchanging contracts and the completion date will depend on whether the others in the chain are ready and when they want to complete. It is usually sensible to allow 14 days between exchange and completion and, if you require a shorter period, an additional fee may be payable, but we will advise you about this if it arises.
Purchases
Our work will include:
Obtaining the information we need about the property from the seller’s solicitors (about fixtures and fittings and other matters); considering and approving the contract and asking questions about the legal title (often referred to as “raising enquiries”); arranging searches and advising you of the results – these include such matters as planning permissions and building regulation consent, environmental matters, and the like; advising you on any mortgage offer and on the contract and arranging for you to sign it; reporting to you about the title to the property so that you know what you are buying; agreeing the completion date and exchanging contracts; liaising with the estate agents and other solicitors in the chain; preparing the transfer and arranging for you to sign it if necessary; preparing completion statements confirming the amounts to be paid by the buyer and to you; obtaining mortgage funds from any lenders in time for completion; completing and paying the purchase money to the seller’s solicitors; making sure they have redeemed any charges on the property; preparing the SDLT form for stamp duty land tax, calculating and paying any stamp duty; applying to register the title in your name at the Land Registry; serving notice of transfer or charge on any landlords; and complying with your lender’s requirements post completion.
Freehold purchase up to £950,000 – average fees of £1,650 plus VAT (£1,980)
Leasehold purchase up to £950,000 – average fees of £1,900 plus VAT (£2,280)
Likely Additional fees
- TT fee £40 plus VAT (£48)
- Search bundle £240 including VAT – this is the same fee we are charged by our provider
- Land Registry fees – depending on value of property
- Mortgage portal fee (as charged to us and only if relevant to your lender) £25 plus VAT (£30)
Other fees which may apply
Gifted deposit work - £75 plus VAT (£90) plus ID verification fees
Arrange legal indemnity policy £65 plus VAT (£78) (plus the policy premium charged by the insurer)
Other issues which will incur increased costs (this list is not exhaustive):
· A sale or purchase with a share of freehold
· Any unusual circumstances such as length of the lease, planning or building regulations issues, listed building, estate management schemes or defective title
· Lease extension, deed of variation or other legal deed
· One off new build property (we offer set fees where we are recommended by certain developers)
· Unregistered land
· Help to Buy Scheme or Help to Buy ISA
· Auction sale or purchase
New Build Properties
If you are buying a New Build property on a development where we are on the panel of solicitors recommended by the developer, our fees will generally be less than those set out above. Please contact us for a quote.
For other developments or "one off" new builds, the fees will be higher – please ask for a quote.
Shared Ownership
Our charges will depend on whether you are buying or selling on a development where we are on the panel of recommended solicitors or not – please contact us for a quote.
What might affect our fees?
In some cases, it is necessary to do additional work where there is a defect in a legal title or where we have to deal with lenders’ solicitors (where we are not acting for the lender), or the matter is more complex due to clawback and overage agreements or matters such as adverse possession. If extra work is required, we will advise you.
If there is a commercial element such as a commercial premises or you are buying the property through a business, different fees will apply as the work is more complex so please contact our Commercial Property department to discuss your requirements.
How long will it take?
We normally expect to exchange contracts in 3 to 4 weeks of the purchase being agreed if everything goes smoothly. But this can be delayed by many factors including, for example, problems with the legal title, getting information from the seller, or you having difficulty obtaining a mortgage. Exchanging contracts and the completion date will depend on whether the others in the chain are ready and when they want to complete. It is usually sensible to allow 14 days between exchange and completion. If you require a shorter period, we will do our best to assist you. There may be additional fees payable, but we will advise you if this is the case.
New Build properties generally take much longer. You may have to exchange contracts by a fixed date, but you may then have to wait until the property is ready with completion being “on notice” – there could be a delay of many months before you complete, and you will then have to complete within 10 working days of our receiving the notice to complete. You will be given a likely timescale for completion prior to exchange of contracts, and we will advise you if you need to extend your mortgage offer.
Remortgage
Our work will include:
Conducting all necessary searches and advising your new lender of the results; checking the title to the property and advising the new lender of any issues; checking and complying with the new lender’s mortgage instructions; advising you on the new mortgage terms; reporting to the new lender and requesting the mortgage funds; carrying out pre-completion searches; obtaining redemption figures from all existing lenders; preparing a statement setting out the remortgage proceeds; obtaining the mortgage funds from the new lenders; paying off the existing mortgages and accounting to you for any money due to you; registering the new mortgage at the Land Registry and making sure all existing charges have been removed from the register.
Our fees:
Freehold or Leasehold - Up to £1million - £1,000 plus (with just 1 mortgage) (£1,200) over £1 million £1,500 plus VAT (with 1 mortgage) (£1,800)
For each additional loan (including HTB redemption) £120 plus VAT (£144)
Likely extra expenses:
TT fee £40 plus VAT (£48)
Search bundle £240 (including VAT)
ID verification - £25 plus VAT per person (£30) - £50 plus VAT (£60) per person for International Searches
Admin fee for title documents and searches - £20 plus VAT (£24)
What might affect our fees?
In some cases, it is necessary to do additional work where there is a defect in a legal title, or to ensure that the property had the correct planning consents where the lender requires this. If extra work is required, we will advise you.
How long will it take?
A straightforward remortgage should complete within 4 to 5 weeks of receiving your instructions depending on when we receive your mortgage offer and any special instructions from your new lender. If they are using their own, separate solicitors, it may take longer.
Who will deal with the work?
Our Residential Conveyancing team is headed by Carly Johnson, an experienced Chartered Legal Executive. Carly is assisted by solicitors, Shahana Choudhury and Natalia Isyumbeli, as well as Vanessa Banks and Melanie Lobina who are Conveyancing Managers. Together, they have many years’ experience dealing with residential conveyancing transactions, including New Build purchases and shared ownership transactions. The team are supported by experienced conveyancing paralegals.
Transactions with a commercial element are handled by Elizabeth Coke, commercial solicitor and different fees will apply.