Fees Conveyancing

PURCHASE OF A FREEHOLD RESIDENTIAL PROPERTY: RANGE OF 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.

CONVEYANCER’S FEES AND DISBURSEMENTS

REFERRAL FEE (IF ANY)

  • Amount of referral fee paid £100.00 – £170.00 and you will be notified of the same, if applicable;
  • Recipient of referral fee.

Estimated total: £170.00.

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.

STAMP DUTY OR LAND TAX (ON PURCHASE)
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 here.

(This will give clients a clear understanding of the total cost of the transaction and so the full funds the client will need to complete it.)

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. The average process takes between 4-6 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 4-8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 1 and 3 months. In such, a situation additional charges would apply.

Our fee assumes that:

  • this is a standard transaction and that 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;
  • this is the assignment of an existing lease and is not the grant of a new lease;
  • the transaction is concluded in a timely manner and no unforeseen complication arise;
  • all parties to the transaction are co-operative 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.

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 you may wish to include:

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

PURCHASE OF A LEASEHOLD RESIDENTIAL PROPERTY
Our fees cover all 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 is in Wales.

CONVEYANCER’S FEES AND DISBURSEMENTS

REFERRAL FEE (IF ANY)

  • Amount of referral fee paid £100.00 – £170.00 and you will be notified of the same;
  • Recipient of referral fee.

Estimated total: £170.00.

DISBURSEMENTS
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

ANTICIPATED DISBURSEMENTS

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100.00 -£250.00;
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100.00 -£250.00;
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 – £250.00;
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100.00 – £250.00.

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information

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.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice;
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed;
  • Receive and advise on contract documents;
  • Carry out searches;
  • Obtain further planning documentation if required;
  • Make any necessary enquiries of seller’s solicitor;
  • Give you advice on all documents and information received;
  • Go through conditions of mortgage offer;
  • Send final contract to you for signature;
  • Draft Transfer;
  • Advise you on joint ownership;
  • Obtain pre-completion searches;
  • Agree completion date (date from which you own the property);
  • Exchange contracts and notify you that this has happened;
  • Arrange for all monies needed to be received from lender and you;
  • Complete purchase;
  • Deal with payment of Stamp Duty/Land Tax;
  • Deal with application for registration at Land Registry.
  • Give you advice on all documents and information received;
  • Go through conditions of mortgage offer;
  • Send final contract to you for signature;
  • Draft Transfer;
  • Advise you on joint ownership;
  • Obtain pre-completion searches;
  • Agree completion date (date from which you own the property);
  • Exchange contracts and notify you that this has happened;
  • Arrange for all monies needed to be received from lender and you;
  • Complete purchase;
  • Deal with payment of Stamp Duty/Land Tax;
  • Deal with application for registration at Land Registry.

APPLYING FOR THE GRANT, COLLECTING AND DISTRIBUTING THE ASSETS
We anticipate this will take between 10 and 20 hours work at £250.00 (+ VAT = £50.00) per hour = £300.00. Total costs estimated at -£2,500.00.00 (+ VAT = £500.00) = £3000.00 to £5,000.00 (+ VAT = £1000.00) = £6000.00.

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This quote is for estates where:

  • There is a valid will;
  • There is no more than one property;
  • There are no more than 5 bank or building society accounts;
  • There are no other intangible assets;
  • There are 2 – 4 beneficiaries;
  • There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs;
  • There is no inheritance tax payable and the executors do not need to submit a full account to HMRC;
  • There are no claims made against the estate.

Disbursements included in this fee:

  • Probate application fee of £215.00 (subject to changes from time-to-time) – The application fee is £215.00 if the value of the estate is £5,000.00 or over – there’s no fee if the estate is under £5,000.00 https://www.gov.uk/wills-probate-inheritance/applying-for-a-grant-of-representation.
  • £10.00 Swearing of the oath (per executor);
  • Bankruptcy-only Land Charges Department searches (£3.00 per beneficiary);
  • £84.60 Post in The London Gazette – Protects against unexpected claims from unknown creditors (subject to changes from time-to-time) – https://www.thegazette.co.uk/place-notice/pricing;
  • £50.00-£300.00 Post in a Local Newspaper – This also helps to protect against unexpected claims (subject to changes from time-to-time).

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

POTENTIAL ADDITIONAL COSTS

  • If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
  • If any additional copies of the grant are required, they will cost £2.50 (1 per asset usually) (subject to changes from time-to-time) – https://www.gov.uk/wills-probate-inheritance/applying-for-a-grant-of-representation.
  • Dealing with the sale or transfer of any property in the estate is not included.

HOW LONG WILL THIS TAKE?
On average, estates that fall within this range are dealt with within 3-12 months. Typically, obtaining the grant of probate takes 4-8 weeks. Collecting assets then follows, which can take between 8-12 weeks. Once this has been done, we can distribute the assets, which normally takes 6-24 weeks.