Pricing for Residential Conveyancing

PURCHASE/SALE / REMORTGAGE OF A FREEHOLD RESIDENTIAL PROPERTY

Our fees cover all of the work required to complete the purchase/sale/re-mortgage of your 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 example below relates to a freehold purchase only. Any other form of transaction will be subject to a different fee scale. Details of our fees in relation to any alternative transaction can be provided on request.

Purchase/Sale/Re mortgage

OUR FEES £
Legal Fee
Value of property up to £200,000
£1400 plus VAT
Value of property from £201,000 – £500,000
£2000 plus VAT
Value of property from £501,000 to £750,000
£2500 plus VAT
Value of property from £751,000 to £1 million
3400 plus VAT
Value of property over £1 million
1% of the value of the property
ContentMortgage Discharge Fee
£200
SDLT Form Completion Fee (Purchase)
£90
Electronic Money Transfer Fee incl handling charges (x1)
£45
Fixed rate disbursements (to cover minor disbursements, photocopying, fax etc)
£95
Leasehold (where property is leasehold)
£390.00
DISBURSEMENTS Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
As applicable
HM Land Registry Fee (Purchase)
£270 (or as applicable at the time of completion) Please follow link below: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
Chancel Repair Insurance
£15.95 (or as applicable)
Search Fees (approximately) (Purchase/Re-mortgage)
Fees vary from one Local Authority to the next, however typically in the range of £250 to £500
Land Charge Search including handling charges (per person)
£10
Land Registry Priority Search including handling charges
£10
VAT payable
20% ( or as applicable at the relevant time)
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property and whether this is you only home. You can calculate the amount you will need to pay by contacting HMRC directly, using HMRC's website/online calculators or if the property is located in Wales by contacting/ using the Welsh Revenue Authority's website.

We have done our best to provide a guideline as to cost above, however, above figures are quoted on the basis that your conveyancing matter is not complicated and will not have unexpected delays. In the event that your matter become complex then there will be additional fees payable. There are many potential variables in the conveyancing process.

Examples (including but not limited to) of factors that would typically increase the cost of the service might include:

1. if legal title is defective or part of the property is unregistered
2. if you discover building regulations or planning permission has not been obtained
3. if crucial documents you have previously requested from the client have not been provided
4. parties to the transaction are not co-operative and there is unreasonable delay from third parties providing documentation
5. Where there is breach of restriction (e.g. change of use of property)
6. Defect in title documents
7. Property lack any rights required for enjoyment
8. Expedited transactions
9. Contract race
10. Sale of a share of freehold (leasehold title)
11. Lease extension is involved
12. Where any consents are required including superior landlord, landlord, lenders consents etc
13. Additional charges or restrictions are involved.

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 a number of factors.

It is difficult to give an accurate indication of the time it will take to complete your transaction as much will depend upon influences beyond our control such as the number of parties in the chain and their ability to proceed, mortgage offers, searches etc.

However, the average conveyancing transaction takes approximately 8 to 12 weeks to exchange of Contracts and a further 4/8 weeks to Completion.
We will however endeavour to meet your requirements and keep you updated as the matter progresses.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that are likely to be applicable in an average transaction:

1. Take your instructions and give you initial advice
2. Check finances are in place to fund purchase and contact lender’s solicitors if needed
3. Receive and advise on contract documents
4. Carry out searches
5. Obtain further planning documentation if required
6. Make any necessary enquiries of seller’s solicitor
7. Give you advice on all documents and information received
8. Go through the conditions of mortgage offer with you
9. Send final contract to you for signature
10. Agree completion date (date from which you own the property)
11. Exchange contracts and notify you that this has happened
12. Arrange for all monies needed to be received from lender and you
13. Complete purchase
14. Deal with payment of Stamp Duty/Land Tax
15. Deal with application for registration at Land Registry

(Note): If the matter becomes more complex than first envisaged or additional work is required, we reserve the right to increase our fee, however, any increase will be notified to you in advance.
Please see below few instances (including but not limited to) of when this may occur:

1. Where title is unregistered
2. Where your mortgage lender instructs its own solicitor
3. Where the property is newly built or in the course of construction
4. Where there is a breach of a restriction e.g preventing alterations or change of use of the property
5. Where there is a defect in title
6. Where the property lacks the rights required for ordinary use and enjoyment, e,g access or the usual services
7. If you are buying with the assistance of the Government’s Help to Buy scheme
8. Expedited transactions. i.e. less than 4 weeks from receipt of papers to exchange
9. Where a lock out or exclusivity agreement is required or there is a contract race

In the case of leasehold property this might include:
1. Where your lease purchase includes the purchase of a share of the freehold
2. Where a lease extension is involved
3. Where freeholder consent for any reason may be required
4. Shared ownership transactions
5. Missing or absentee landlords
6. Where the lease is defective e.g lack of repairing covenants covering each part of the building.

Disclaimer:

Any materials provided by Law & Co Solicitors on this website are strictly for informational purposes only which does not, and cannot, constitute a legal advice. The use of this site does not create a lawyer-client relationship. Additionally, initiating a chat, email or other communication with our representatives through this site does not create solicitor/client relationship and information provided will not be considered confidential or privileged.

Guideline Hourly Rates:

VAT
Above rates are exclusive of VAT this is charged at 20% (if applicable)

Fee earner category and applicable rates (per hour):
Solicitor with over 8 years experience: £373
Partner, Solicitors and legal executives with over 4 years’ experience: £289
Solicitors with 3 years + experience: £260
Solicitors with less than 3 years experience: £230
Trainees and paralegal: £ 150

All fee earning members are subject to supervision

Our fees mentioned above are for one application only and does not include disbursements which may be incurred or become necessary. Furthermore, this does not include home office fees, IHS, court fees, application fees, third party fees and any other necessary expenses. In addition, if your matter proceeds further and becomes more complex then we may revise and increase our quote.

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