Our legal costs
Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and 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.
The following information is a guide. A detailed estimate of our fees can be obtained by using our online conveyancing calculator or by calling us on freephone 0800 011 6666.
| Property Value (£) | Legal Fee | 20% VAT | Total |
|---|---|---|---|
| £0 - £125,000 | £1,000 | £200 | £1,200 |
| £125,001 - £250,000 | £1,000 | £200 | £1,200 |
| £250,001 - £500,000 | £1,150 | £230 | £1,380 |
| £500,001 - £750,000 | £1,350 | £270 | £1,620 |
| £750,001 - £1,000,000 | £1,500 | £300 | £1,800 |
| £1,000,000+ | Price on application |
What does our estimate include?
Our fees cover all of the work required to complete the purchase of a freehold property, including:
1.Investigating the title to the property, to include carrying out searches with respect to title and local government information for the property and reviewing replies given by the seller to pre-contract enquiries;
2. Negotiating a purchase contract;
3. Negotiating a transfer document;
4. Advising you in respect of your mortgage offer;
5. Preparing a report on title;
6. Proceeding to exchange of Contracts and then completion of the purchase;
7. Transferring funds by telegraphic transfer to the Seller’s Solicitors;
8. Completing a stamp duty land tax return (SDLT) on the purchase and submitting to HM Revenue & Customs the appropriate SDLT forms; and
9. Registering the purchase and the mortgage at the Land Registry
Disbursements
Disbursements are third-party fees relating to your matter that must be paid. These often include fees for searches, office copy fees, HM Land Registry fees and registration fees. We make disbursement payments on your behalf to ensure there are no delays in the conveyancing process.
The disbursements relevant to you depend on if you are buying or selling, remortgaging or transferring equity.
The disbursements, which are strictly necessary, are set out in your conveyancing estimate. This list is not exhaustive and other disbursements may apply depending on your specific transaction.
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 website or if the property is located in Wales by using the Welsh Revenue Authority’s website.
What does our fee estimate assume?
Our fee estimate assumes:
- That the property is freehold
- This is a standard transaction and 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.
- The property you are buying is registered with the Land Registry.
- The transaction is concluded in a timely manner and no unforeseen complications arise.
- All parties to the transaction are cooperative 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.
- The property is not subject to a management company or rent charge for the common areas of an estate, to which you are required to contribute.
- There is only one mortgage (source of funds) being obtained for the purchase.
How long will my property purchase take?
How long it will take for your offer to be accepted until completion will depend on a number of factors. The average process takes between 12 -16 weeks. It can be quicker or slower, depending on the number of parties in the chain. Generally, the longer the chain, the longer a transaction will take. Remember we can only proceed to complete as quickly as the slowest party in the chain, as everyone’s transaction will be dependent on everyone else’s. It is therefore important that you speak to the estate agent to ascertain the length of the chain.
If the property you are purchasing is leasehold then delays can occur due to the necessary involvement of third parties such as landlords and management companies and the added complexity of leasehold titles.
Generally, we find that the main causes for the delay in a transaction are as follows:
- A party fails to promptly instruct their conveyancer.
- A party fails to promptly apply for their mortgage (buyers only).
- Local Authority delays in providing a Local Authority search (buyers only).
- A property in the chain is a leasehold.
- A party fails to communicate promptly with the chain.
Key stages of the process:
- Take your instructions, including information to help work out any stamp duty and details on how you are funding your purchase.
- Conduct ID and anti-money laundering checks.
- When the contract pack is received from the seller’s solicitor we will:
- Order searches
- Investigate title
- Raise enquiries if further information is required
- Report to you on the results of the searches and raise any further enquiries, as necessary.
- Review any mortgage offer.
- Report any matters as necessary to your mortgage lender.
- Review replies to enquiries.
- Report to you on the title and property information forms.
- Send the final completion statement to you and ask you to transfer the balance of funds.
- Prepare documents for signature.
- Negotiate a completion date.
- Exchange contracts and notify you that this has happened.
- Request mortgage funds in readiness for completion
- Complete purchase.
- Deal with registration of your ownership at the Land Registry.
What is not included in our fee estimate?
When a matter becomes more complicated or more work is required on our part, it may be necessary to adjust our fee estimate to account for our additional fees. In the spirit of full transparency, we have prepared a list of the most common occurrences that are not included in your fee estimate, together with an explanation of the additional work required and our fee for carrying out the additional work. A copy of this list is provided with your fee estimate at the outset.
Our fee estimates, unless expressly stated, apply only to individuals and do not apply to corporate clients.
