Residential Conveyancing Cost/Prices

Our charges range between £1,095.00 and £1,575.00 plus VAT for a straightforward freehold sale of property valued under £1M.  For freehold property sales of over £1M, we will look carefully at the particular aspects and complexity of the transaction, but would expect our fees to be approximately 0.15% of the sale price plus VAT.

For straightforward freehold purchases of property valued under £1M, our charges range between £1,200.00 and £1,800.00 plus VAT. For purchases of over £1M, our fees will be driven by the complexity of the transaction, but would expect these to be approximately 0.2% of the purchase price plus VAT.

Our fees are slightly higher for leasehold purchases, since these involve the review of additional documents, most importantly reviewing and reporting to you on the lease.

For leasehold sales our charges range between £1,095.00 and £1,500.00 plus VAT for sale price of property valued under £1M. In leasehold sales of over £1M, we would expect to charge fees of approximately 0.2% of the sale price plus VAT.

Our charges for leasehold purchases of property valued under £1M range between £1,300.00 and £2,000.00 plus VAT. For leasehold purchases of property valued over £1M, we will consider the complexity of the particular property transaction and documentation but would expect our charges to be approximately 0.3% of the purchase price plus VAT.

We will try to adhere to the above charges wherever possible. If upon receipt of papers or at any time during the transaction, it becomes apparent that the transaction is more complicated than anticipated we will contact you to agree any additional charges. If the fees increase, the increase is based upon the hourly rate of the fee earner working on your transaction.

The hourly rates charged ranges from £175 per hour plus VAT to £275 per hour plus VAT, depending upon the level and experience of the fee earner assisting you. The fee earner’s hourly rate is referred to in our initial letter, confirming your instructions.

Disbursements are not included in the fees estimated above. The likely disbursements that would be in addition to our fees are detailed below.

On a Freehold and Leasehold Sale

Official Copies of your Title£6.00
Additional  documents from  The Land Registry£3.00 each
Bankruptcy search fee£2.00 per name
Our fee for same day money Transfer (inclusive of VAT)£42.00

In addition, on a Leasehold Sale

Management Information pack £200.00 approximately. This is charged by the management company or landlord providing us with this information, and varies from organisation to organisation.

On a Freehold and Leasehold Purchase

Land Registry fees£20-£270 (depending upon purchase price)*
Local search fees£130.00 approximately
Drainage search fees£62.00
Environmental search (inc. flood)£58.80
Chancel check insurance£6.00
Land Registry priority search£3.00
Bankruptcy search fee£2.00 per name
Our fee for same day money Transfer (inclusive of VAT)£42.00

*if the title to the property you are buying is unregistered, we will need to make an application for first registration to the Land Registry, and their registration fee will be double that of a title already registered.

In Addition On A Leasehold Purchase:

Landlord’s Notice Fee £120.00 approximately

Our estimated fees cover the progress of your sale or purchase from receipt of instructions to completion and all post completion formalities, including the submission of your stamp duty land tax return. Our fees also cover acting on behalf of your mortgage lender, where applicable. However, if we encounter unforeseen or unusual problems during your transaction, we may have to increase our estimate, depending upon the extra time spent. We will discuss this with your beforehand, and any additional work will be charged at the fee earners hourly rate detailed above.

A Stamp Duty Land Tax return must be submitted on all property purchases over £40,000, and are based on the purchase price of the property. The rate of stamp duty charged depends upon a number of factors including whether the buyer is a first time buyer, whether the buyer owns other property and whether the buyer intends to use the new property as their home. The current rates of stamp duty land tax, are:

Property value bandBasic SDLT rate

(applies if you are selling your main residence & buying a new main residence)

SDLT Higher Rate (“surcharge”) on additional properties

(investment properties can be disregarded only if the properties you are buying and selling are your main residence)

£0 – £300,000FIRST TIME BUYERS ONLY

0%

£300,001 – £500,000FIRST TIME BUYERS ONLY

5% on the amount over £300,000 up to £500,000

£0-125,0000%3% (except for properties costing less than £40,000 on which the rate is 0%)
Over £125,000 to £250,0002%5%
Over £250,000 to £925,0005%8%
Over £925,000 to £1.5 million10%13%
Over £1.5 million12%15%

We will endeavor to ensure that your matter is progressed as quickly as possible. We usually estimate 4-6 weeks from instructions to exchange of contracts for a freehold sale or purchase; and 6 to 8 weeks from instructions to exchange of contracts for a leasehold sale or purchase. Please bear in mind however, that conveyancing transactions can take some months, depending upon the length of the chain and/or the complexities of the transaction, which are matters outside our control. We ask you to let us know if you have any particular timescale in mind.

For a bespoke quote, specific to your transaction, please contact a member of our conveyancing team, who will be happy to discuss this with you, and to email you a quote.

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