Buying or selling a house can be a very stressful time. However, we are committed to taking the weight and stress off our clients.
Below there is information regarding our fees. These will all be subject to VAT currently 20%, in addition some disbursements may have VAT, and some not, and we will inform you of this, once we have details of your transactions.
Timescale Key Stages
The stages in a sale or purchase will be:
- Instructions received.
- Searches applied for, or title documents applied for dependent on whether a sale or purchase.
- Contract and supporting documentation sent out or received,
- Exchange of Contracts (when deposit is paid).
- Registration or discharge of mortgage.
Naturally, it is difficult to give an idea of the timeframes as this will be particular to your own transaction, however we will do everything we can to fit in with your preferred timeframe.
If you are selling a property, please just e-mail us your agreed sale price, and the type of property you are selling, and we can take it from there for you, giving you a full quote prior to the commencement of work.
You will also be liable for your own Estate Agents fees, (if you have instructed one) but we can settle their fees for you directly from your sale proceeds. We will also redeem any mortgages on the property at completion from the sale proceeds.
When selling a property, the disbursements are usually quite low. The only disbursements that are usually charged will be for Land Registry copy documents, i.e. the title itself, with colour plan, and any documents listed on the title that the purchaser’s solicitor may require. By way of estimate, these disbursements usually do not go above £25.00.
If there is a mortgage on your property, there will be a CHAPs charge of £40.00 plus VAT. This is to cover the bank charge made in redeeming your mortgage directly to your mortgage provider. Any other CHAPs payments that are necessary for your sale are also charged at £40.00 plus VAT.
Our fees for the legal work for the sale itself (which include taking your instructions and advising you throughout, obtaining your title deeds and documents, checking these and preparing the draft contract, submitting the same to the purchaser’s solicitors replying to their preliminary enquiries, obtaining your signature to the contract as approved and effecting exchange of contracts, deducing title and answering requisitions thereof, approving draft transfer, obtaining your execution thereof and finally completing the matter including all incidental formalities, correspondence and attendances) are calculated on the property value, and would by way of estimate be 0.03% of the property price plus VAT (currently at 20%). However, please do contact us as quotes are tailored to each and every transaction, and will be dependent on whether the property is freehold, leasehold etc. There are always varying factors to be taken into consideration for each individual transaction.
If you are buying a property, please just e-mail us your agreed purchase price, and the type of property you are buying, and we can take it from there for you, giving you a full quote prior to the commencement of work.
With regards to a property purchase, we will need you to confirm if it is a freehold or leasehold and whether you are obtaining a mortgage to assist with your purchase. Confirmation as to whether it will be your primary principal residence, or is a first time purchase will also need to be confirmed as do remember with the latest legalisation on Stamp Duty in that prices have risen with regards to buy to let purchases, and dropped for first time buyers.
When purchasing a property, the disbursements can be quite high (especially when taking into account Stamp Duty). To assist, please see the disbursements as set out below:
You will be advised on the specific amount payable for your transaction. We will also lodge the Stamp Duty Land Tax Return with the Inland Revenue, and pay the requisite tax due on completion of your purchase. Our fees for this service are £75.00 plus VAT.
There is also a Land Registry fee payable to have the property transferred into your name at completion. The Land Registry’s fees are set our below. There are two prices payable one for an application through the Land Registry Portal (the lower amount) and one for applications not made through the Portal (higher amount). However, due to the fact that this firm operates a direct portal system with the Land Registry, the fees are reduced and we pass this saving on to our clients.
Postal Fee Portal Fee
|0 to £80,000
|£80,001 to £100,000
|£100,001 to £200,000
|£200,001 to £500,000
|£500,001 to £1,000,000
|£1,000,001 and over
There are also other minor Land Registry disbursements being a Mapping Fee (approx. £9.00), an OS1 Search (approx. £5.00) and a Bankruptcy Search (approx. £4.00 per person). However, the Bankruptcy Search is only required if a mortgage is being obtained.
Searches will be required for your intended property, so the Solicitor can report to you on these, as well as the title.
The exact figures will be given to you for your particular transaction, as they are based on the property location itself. However, the Searches are broken down as follows as the fees for these are usually around £250.00.
Water & Drainage
Our fees for the legal works for the purchase itself (which include taking your instructions and advising you throughout, making all necessary searches and preliminary enquiries, advising you on the terms of the draft contract and obtaining your approval and signatures thereto, effecting exchange of contracts, investigating title and making requisitions thereon, preparing draft transfer, engrossing the same and obtaining your execution thereof and finally completing the matter including all formalities, correspondence and attendances incidental thereto. Effecting registration of your title to the property at H.M. Land Registry including preparation of application for registration and supporting certificate, making copy conveyance and certifying the same, preparing all other accompanying documents, lodging same and dealing with all Land Registry requirements in connection therewith) are calculated on the property value, and would by way of estimate be 0.03% of the property price plus VAT. However, please do contact us as quotes are tailored to each and every transaction, whether they are freehold, leasehold etc. There are usually varying factors to be taken into consideration for each individual transaction.