Pricing for Residential Conveyancing

How we charge for our services – Residential Conveyancing

Team Members and Supervision

The Residential Conveyancing team members are independently recognised as experts in their field and the team is frequently recommended by existing clients, many of whom have a long standing relationship with the firm, as well as by professional intermediaries.

Your matter would be dealt with by a single named conveyancer throughout and any work undertaken would be supervised by a partner. Details of the individuals within the team and their qualifications and experience can be found in their profiles.

Fees and Charging Structures

The fee information set out in this document relate specifically to those services in the ‘Services’ section and is indicative only. Once the full details relating to your particular matter are understood, we will provide a specific fee proposal which, upon confirmation of our instruction through a signed client engagement letter and terms of business, will form the contractual basis upon which we will deliver our services.

During the progress of any matter it is possible that fees may change, up or down, due to a change in your instructions, or because it is necessary to reassess the level of complexity of the matter should new information come to light. Should this be the case, we would discuss this with you at the time and agree any changes before progressing.

Any additional services required outside those set out in the Services section would be quoted separately on an individual basis.

Services

• • Freehold purchase

• • Freehold sale

• • Leasehold purchase

• • Leasehold sale

• • Mortgages and remortgages

• • Equity release

Key stages in delivering these services

Read our guides: Steps to Sale, Purchase and Remortgage explaining the steps we take.

In terms of a mortgage/remortgage the steps are:

• • We invite you to complete a questionnaire about the property.

• • We commission any required searches and investigate the title deeds (in the case of a leasehold property we seek the landlord’s requirements for their noting of a mortgage).
    We write to you with our report on the mortgage paperwork (and in parallel obtaining a repayment statement from any existing lender).

• • We agree a completion date with you and then request mortgage funds for that date.

• • On the day of completion, we repay any finance, our own fees, and then remit any balance to you, while we then spend the next few weeks recording the mortgage at the Land Registry.

How long will my transaction take?

Sales/purchases:

How long it will take can depend on a number of factors. The average process takes between 4-12 weeks. It can be quicker or slower, depending on the parties in the chain. If legal defects are found, and solutions needed, this could add weeks.

Mortgages:

Typically 2-4 weeks from when we are instructed to completion.

How we would charge for these services

No property is exactly the same, nor are your own circumstances and there are numerous factors (listed below) which may impact the level of fees required to complete your matter. On an indicative basis however, our fees for conveyancing would be as follows:

• • £1,350 plus VAT for a straightforward freehold transaction, up to £10,000 for a substantial historic property on unregistered land.

• • £650 to £750 plus VAT for a freehold mortgage/remortgage.

• • £1,000 for an equity release mortgage.

Our fees fall within a range as we base our fee on the following factors:

• • The price of the property (as this presents more risk).

• • The timescale you instruct us to aim for (the quicker required, the higher the agreed fee).

• • If the property is leasehold or a new build (adds £250), if freehold with managed areas (adds £150), Forces Help 2 Buy (adds £150) or using an ISA Bonus (adds £50).

• • If you are receiving Help 2 Buy Government assistance (adds £400).

Bank transfer fees – should a bank transfer be necessary at any point (i.e repaying a mortgage or a balance to you) then an administration fee of £30 would be added.

We do not charge an hourly rate, our fees are fixed fees right at the start with the proviso that they assume that the transaction is ‘standard’ and there are no unforeseen issues or complications, though we would always inform you of any charges, and would fully discuss the potential consequences of that before any extra charges were incurred, and then we would look to agree with you a fixed additional fee with you based on the nature of what additional work was involved.

What these fees include

Please refer to: Key stages in delivering these services above

What these fees do not include

Please refer to the ‘Assumptions’ below.

VAT

Unless expressly stated otherwise, all of the fees and disbursements referred to would be subject to VAT, payable in addition, calculated at the standard rate of 20%.

Disbursements

Disbursements are additional costs related to your matter that would typically be incurred by us on your behalf to ensure that the matter progresses in an efficient manner. These would be chargeable by us in addition to the fees set out above.

The disbursements that you can expect to be charged in respect of your matter are as follows:

Sales:

• • Copy deeds charges (usually £12 plus VAT).

• • If leasehold or freehold with managed areas – freeholder management packs (typically between £50 to £350).

Purchases:

• • Search fees (typically around £300 inclusive of VAT)

• • Land Registration fees (a variable scale based on the inclusive of VAT)

• • Stamp Duty Land Tax or Land Transfer Tax in Wales (This depends on the purchase price of your property and on your personal circumstances. 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)

• • If leasehold – landlord notice fees (typically £100 including VAT)

Mortgages/re-mortgages:

• • Copy deeds charges (usually £9 plus VAT)

• • Search fees (typically around £300 inclusive of VAT unless search legal indemnity insurance is permitted by your lender in which case usually £30 inclusive of insurance premium tax)

• • Land Registration fees (a variable scale based on the price inclusive of VAT

• • If leasehold – landlord’s notice fees (typically £100-£400 plus VAT)

Assumptions

To enable us to be able to offer a fixed fee, we make the assumptions below:

Purchase:

• • There are no issues/complications requiring third party assistance e.g Land Registry, indemnity insurers etc – as our additional legal fee for solving the issue by arranging legal indemnity insurance would be £250 plus VAT

• • There are no Title Deed defects which we need to fix for you so the sale to you can progress – otherwise our additional fee will be £250 plus VAT for our time, in addition to any insurance costs or other solicitor fees

• • The completion date not having to be mutually postponed by further legal document – otherwise our additional fee would be £150 plus VAT

• • There is no ongoing need for us to retain open our file after Completion because parties have agreed a retention of monies — otherwise our additional fee would be £375 plus VAT

• • Your chosen mortgage company does not require us to keep them informed with online updates/uploads – otherwise our additional fee would be £150 plus VAT

• • You do not fail to complete the purchase on the completion date NOR does any other party fail to – as otherwise, our additional fee would be based on our hourly rate above, with a minimum charge of £350 plus VAT to be involved in solutions/communications on the subject

Sale:

• • There are no issues/complications requiring third party assistance e.g Land Registry, indemnity insurers etc – as our additional legal fee for solving the issue by arranging legal indemnity insurance would be £250

• • There are no Title Deed defects which we need to fix for you so the sale can progress – otherwise our additional fee will be a minimum of £250 for our time, in addition to any insurance costs or other solicitor fees

• • The completion date not having to be mutually postponed by further legal document – otherwise our additional fee would be £150

• • There are no more than two High Street Lender mortgages to repay – otherwise our additional fee would be £100 for every additional charge plus a bank transfer charge of £30 per charge (private mortgages are not included and we will estimate a separate charge)

• • There is no ongoing need for us to retain open our file after Completion because parties have agreed a retention of monies — otherwise our additional fee would be £375

• • You do not fail to complete the sale on the completion date NOR does any other party fail to – as otherwise, our additional fee would be based on our hourly rate above, with a minimum charge of £350 to be involved in solutions/communications on the subject

You won’t regret instructing us to act as your conveyancing solicitors. Get in touch today to arrange a no obligation consultation regarding our conveyancing fees and a quote. We cover the entire UK property market, but have offices in Bournemouth, Poole, Salisbury, Southampton, Winchester & London for your convenience.