Residential Conveyancing
Our fees for the conveyance of residential property or real property which comprises:
- freehold sales and purchases;
- mortgages or re-mortgages are calculated by reference to the value and complexity of the transaction.
Our fees include acting for and advising you and your lender (if applicable) in the transaction, all CHAPS fees, submission of SDLT return to HMRC, payment of any duty and registering the transfer and/or any mortgage at the Land Registry.
For a standard conveyancing transaction our estimated fees would be as follows:
| Transaction value (£) | Sale(S) / Purchase(P) | Fees(£) (plus VAT at 20%) |
| Under 250,000 | S | 850 |
| P | 925 | |
| 250,001-300,000 | S | 950 |
| P | 1,000 | |
| 300,001-400,000 | S | 1,045 |
| P | 1,145 | |
| 400,001-500,000 | S | 1,070 |
| P | 1,170 | |
| 500,001-750,000 | S | 1,110 |
| P | 1,210 | |
| 750,001-1,000,000 | S | 1,325 |
| P | 1,425 | |
| 1,000,000 plus | S/P | Specific estimate available on request |
For standard conveyancing leasehold sales and or purchases, mortgages or re-mortgages, there is an additional fees of £150 plus VAT on sales and £300 plus VAT on purchases payable in respect of advising you on the lease terms and provisions including rent and service charge payments, obtaining any necessary consents and service of any required notices. On sales there is likely to be a management pack fee which will be payable to the landlord/agents and will vary form case to case.
On new build properties there is an additional fee of £300 plus VAT.
On unregistered land there is an additional fee of £200 plus VAT.
When purchasing a property using a Help to Buy ISA, there is an additional charge of £50 plus VAT per buyer.
In addition to our fees there may be payments (disbursements) payable to third parties in relation to the conveyancing transaction including, on a purchase: Search fees, Land Registry fees and Stamp Duty Land Tax; on a sale the cost of obtaining up to date official copies of the title and documents referred to; on a mortgage search fees, the cost of obtaining up to date official copies of the title and registration fees. These will vary according to the nature and location of the transaction, the requirements of any mortgage lender and the value of the transaction.
For example, on the purchase of a registered freehold registered residential property within Peak National Park and Derbyshire Dales District Council area for a price of £400,000 the likely disbursements (including VAT) would be:
-
Local authority search £216.50
-
Drainage and water enquiry £88.60
-
Homebuyers Environmental search £67.60
-
No search Chancel indemnity premium £13.22
-
Land Registry search £3.60
-
Land charges search (per person) £2.40
(per name) -
Land Registry fee to register purchase £150
Stamp Duty land Tax will vary depending on the nature of the transaction.
Key Stages and Timescales
The key stages of our work in the sale of a residential property are:
- take instructions regarding the transaction;
- obtain the title deeds;
- provide contract and title documentation to the buyer’s solicitors;
- provide replies to enquiries raised by the buyer’s solicitors;
- settle the terms of the contract and transfer deed;
- take your instructions on any issues arising;
- arrange for you to sign documents;
- agree dates for exchange of contracts and completion;
- obtain a redemption statement if the property is subject to a mortgage;
- exchange contracts and complete the sale;
- make the redemption payment to discharge any mortgage;
- account to you for the net sale proceeds.
The key stages of our work in the purchase of a residential property are:
- take instructions regarding the transaction;
- obtain contract and title documentation from the seller’s solicitors;
- make relevant searches and enquiries to obtain further information;
- review your lender’s requirements if a mortgage is required;
- draft the transfer deed and settle the terms of the contract;
- report to you on the information obtained and discuss any concerns;
- arrange for you to sign documents;
- agree dates for exchange of contracts and completion;
- obtain funds for the deposit and balance to complete, including any mortgage loan;
- exchange contracts and complete the purchase;
- file the Stamp Duty Land Tax Return and pay the SDLT due;
- apply to register the transaction at the Land Registry;
- notify you and any mortgage lender when registration is completed.
The key stages of our work in the mortgage or re-mortgage of a residential property are:
- take instructions regarding the transaction;
- obtain title documentation;
- review your lender’s requirements;
- make relevant searches and enquiries to obtain further information as required by the lender;
- settle the terms of the mortgage deed;
- report to you on the mortgage and discuss any concerns;
- arrange for you to sign the mortgage documents;
- report on title to the lender and address any issues arising;
- agree date for completion;
- draw down the mortgage loan;
- complete the mortgage;
- apply to register the mortgage at the Land Registry;
- notify you and the mortgage lender when registration is completed;
- forward to the lender any deeds or documents they require to hold as security.
The sale or purchase of a residential property, with or without a mortgage, typically takes between 8 to 12 weeks, but can take longer, particularly if there is a chain of sales and purchases which needs to be co-ordinated.
The re-mortgage of a residential property typically takes between 4 to 6 weeks.
