SRA Price Transparency –

Residential Conveyancing

Introductory note: The following information is an illustrative guide only and is not a quote or an estimate. Individual costs will depend on individual cases.

VAT: Where VAT is chargeable, the rate will be in accordance with current tax rules.

Purchase of a Freehold Residential Property

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

Legal fees are likely to be between £1,300–£1,900 plus VAT for a purchase of any property up to the value of £650,000. This is based upon work of between 5–8 hours at an average hourly rate of £250 plus VAT.

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.
  • The transaction is concluded in a timely manner and no unforeseen complications 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.
  • No monies are being provided by someone other than the client or a mainstream mortgage lender (this could include third party deposits and contributions).
  • The chain is no longer than four properties.
  • There is no element of Help to Buy in any property in the chain, including any Help to Buy ISA or other similar products.
  • All joint purchasers are proposing to hold the property as joint tenants.
  • The property is not a new-build property.
  • There is no shared ownership element to the purchase.

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. The disbursements which we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply.

  • Search fees – estimated £350 (including VAT). These vary depending upon the location of the property.
  • HM Land Registry fee – between £20–£540 depending on the value of the property.
  • Land Registry/Land Charges Search and copy fees – approximately £20.
  • Stamp Duty Land Tax – please see below.

In normal circumstances we do not charge a fee for electronic money transfers.

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.

How Long Will My Freehold Purchase Take?

How long it will take from your offer being accepted until you can move into your property will depend on several factors. The average process takes between 2–6 months. It can be quicker or slower, depending on the parties in the chain.

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:

  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 conditions of mortgage offer with you.
  9. Send final contract to you for signature.
  10. Draft Transfer.
  11. Advise you on joint ownership.
  12. Obtain pre-completion searches.
  13. Agree completion date (date from which you own the property).
  14. Exchange contracts and notify you that this has happened.
  15. Arrange for all monies needed to be received from lender and you.
  16. Complete purchase.
  17. Deal with payment of Stamp Duty/Land Tax.
  18. Deal with application for registration at Land Registry.
  19. Send you the updated Land Registry title register.

Purchase of a Leasehold Residential Property

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

Legal fees are likely to be between £1,400–£2,000 plus VAT for a purchase of any property up to the value of £650,000. This is based upon work of between 5–10 hours at an average hourly rate of £250 plus VAT.

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 complications 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.
  • No lease extension work is required.
  • No monies are being provided by someone other than the client or a mainstream mortgage lender (this could include third party deposits and contributions).
  • The chain is no longer than four properties.
  • There is no element of Help to Buy in any property in the chain, including any Help to Buy ISA or other similar products.
  • All joint purchasers are proposing to hold the property as joint tenants.
  • The property is not a new-build property.
  • There is no shared ownership element to the purchase.

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 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.

  • Search fees – estimated £350 (including VAT). These vary depending upon the location of the property.
  • HM Land Registry fee – between £20–£540 depending on the value of the property.
  • Land Registry/Land Charges Search and copy fees – approximately £20.
  • Stamp Duty Land Tax – please see below.

In normal circumstances we do not charge a fee for electronic money transfers.

Anticipated Additional Disbursements

  • Notice of Transfer fee – often between £60 and £180 (including VAT).
  • Notice of Charge fee (if the property is to be mortgaged) – often between £60 and £180 (including VAT).
  • Deed of Covenant fee (if required by the Lease) – often between £100 and £360 (including VAT). This fee can be difficult to estimate.
  • Certificate of Compliance fee (if required due to a restriction on the deeds) – can range between £120 and £300 (including VAT).
  • Fee for new Share Certificate in freehold (if applicable) – often between £60 and £180 (including VAT).

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 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.

How Long Will My Leasehold Purchase Take?

How long it will take from your offer being accepted until you can move into your property will depend on several factors. The average process takes between 2–6 months. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, and additional charges would apply. It can be quicker or slower, depending on the parties in the chain.

Stages of the Process

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:

  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 conditions of mortgage offer.
  9. Send final contract to you for signature.
  10. Draft Transfer.
  11. Advise you on joint ownership.
  12. Obtain pre-completion searches.
  13. Agree completion date (date from which you own the property).
  14. Exchange contracts and notify you that this has happened.
  15. Arrange for all monies needed to be received from lender and you.
  16. Complete purchase.
  17. Deal with payment of Stamp Duty/Land Tax.
  18. Notify the Landlord/managing agents and deal with any Deed of Covenant and/or Certificate of Compliance (if applicable). Deal with new Share Certificate in freehold (if applicable).
  19. Deal with application for registration at Land Registry.
  20. Send you the updated Land Registry title register.

Sale of a Freehold Residential Property

Our fees cover all of the work required to complete the sale of your home, including dealing with the repayment of your mortgage (if applicable) and the payment of estate agents.

Conveyancer's Fees

Legal fees are likely to be between £1,300–£1,600 plus VAT for a sale of any property up to the value of £650,000. This is based upon work of between 4–6 hours at an average hourly rate of £250 plus VAT.

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.
  • The transaction is concluded in a timely manner and no unforeseen complications 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.
  • The chain is no longer than four properties.
  • There is no element of Help to Buy in any property in the chain, including any Help to Buy ISA or other similar products.

Disbursements

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements which we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply.

  • Fee for copy deeds from HM Land Registry – up to £20.

In normal circumstances we do not charge a fee for electronic money transfers.

How Long Will My Property Sale Take?

How long it will take from an offer being accepted until you can move will depend on several factors. The average process takes between 2–6 months. It can be quicker or slower, depending on the parties in the chain.

Stages of the Process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have suggested some key stages:

  1. Take your instructions and give you initial advice.
  2. Prepare contract documents.
  3. Obtain further planning documentation if required.
  4. Deal with enquiries raised by buyer's solicitor.
  5. Send final contract to you for signature.
  6. Agree completion date.
  7. Exchange contracts and notify you that this has happened.
  8. Obtain a settlement figure from your lender (if applicable).
  9. Complete sale.
  10. Deal with repayment of your mortgage (if applicable).
  11. Pay estate agents (if applicable).
  12. Account to you for net sale proceeds.

Sale of a Leasehold Residential Property

Our fees cover all of the work required to complete the sale of your home, including dealing with repayment of your mortgage (if applicable) and the payment of estate agents.

Conveyancer's Fees

Legal fees are likely to be between £1,400–£2,000 plus VAT for a sale of any property up to the value of £650,000. This is based upon work of between 5–8 hours at an average hourly rate of £250 plus VAT.

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 complications 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.
  • The chain is no longer than four properties.
  • There is no element of Help to Buy in any property in the chain, including any Help to Buy ISA or other similar products.
  • There is no shared ownership element to the sale.

Disbursements

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements which we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply depending on the term of the lease.

  • Fees for copy deeds from HM Land Registry – up to £20.
  • Managing agent's fees – estimated at £350 (including VAT). This fee is set by the managing agents and can vary significantly.

In normal circumstances we do not charge a fee for electronic money transfers.

Anticipated Additional Disbursements

  • Licence to Assign fee (if required by the Lease) – often between £360 and £660 (including VAT). This fee can be difficult to estimate.
  • Deed of Covenant fee (if required by the Lease) – often between £100 and £360 (including VAT). This fee can be difficult to estimate.

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.

How Long Will My Property Sale Take?

How long it will take from an offer being accepted until you can move will depend on several factors. The average process takes between 2–6 months. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, and additional charges would apply. It can be quicker or slower, depending on the parties in the chain.

Stages of the Process

The precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages:

  1. Take your instructions and give you initial advice.
  2. Prepare contract documents.
  3. Obtain further planning documentation if required.
  4. Contact the managing agents for their leasehold pack.
  5. Deal with enquiries raised by buyer's solicitor.
  6. Send final contract to you for signature.
  7. Agree completion date.
  8. Exchange contracts and notify you that this has happened.
  9. Obtain a settlement figure from your lender (if applicable).
  10. Complete sale.
  11. Deal with repayment of your mortgage (if applicable).
  12. Pay estate agents (if applicable).
  13. Account to you for net sale proceeds.

Mortgage / Remortgage of a Freehold Residential Property

Our fees cover all of the work required to complete the mortgage or remortgage of your property, including dealing with registration of the new mortgage at the Land Registry.

Conveyancer's Fees

Legal fees are likely to be between £700–£1,000 plus VAT for a remortgage of any property up to the value of £650,000. This is based upon work of between 2–5 hours at an average hourly rate of £250 plus VAT.

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.
  • The transaction is concluded in a timely manner and no unforeseen complications arise.
  • There is no unreasonable delay from third parties providing documentation.
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

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. The disbursements which we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply.

  • Search fees – estimated £500 (including VAT). These vary depending upon the location of the property.
  • Fee for copy deeds/Land Registry searches from HM Land Registry – up to £20.
  • HM Land Registry fee – between £20–£125 depending upon the value of the remortgage.

In normal circumstances we do not charge a fee for electronic money transfers.

How Long Will My Mortgage/Remortgage Take?

How long it will take depends on several factors. The average process takes between 4–8 weeks. It can be quicker or slower.

Stages of the Process

The precise stages involved in the mortgage/remortgage of a residential property vary according to the circumstances. However, below we have suggested some key stages:

  1. Take your instructions and give you initial advice.
  2. Carry out searches.
  3. Obtain further planning documentation if required.
  4. Go through conditions of mortgage offer with you.
  5. Send Mortgage Deed to you for signature.
  6. Obtain pre-completion searches.
  7. Agree completion date.
  8. Arrange for monies to be received from new lender and you (if applicable).
  9. Complete new mortgage and repay existing mortgage (if applicable).
  10. Deal with application for registration at Land Registry.

Mortgage / Remortgage of a Leasehold Residential Property

Our fees cover all of the work required to complete the mortgage or remortgage of your property, including dealing with registration of the new mortgage at the Land Registry.

Conveyancer's Fees

Legal fees are likely to be between £850–£1,200 plus VAT for a remortgage of any property up to the value of £650,000. This is based upon work of between 3–6 hours at an average hourly rate of £200 plus VAT.

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.
  • The transaction is concluded in a timely manner and no unforeseen complications arise.
  • There is no unreasonable delay from third parties providing documentation.
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

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 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.

  • Search fees – estimated £350 (including VAT). These vary depending upon the location of the property.
  • Fees for copy deeds from HM Land Registry – £15.
  • HM Land Registry fee – between £20–£125 depending upon the value of the remortgage.
  • Fee for copy deeds/Land Registry searches from HM Land Registry – up to £20.

In normal circumstances we do not charge a fee for electronic money transfers.

Anticipated Additional Disbursements

  • Notice of Charge fee – often between £60 and £180 (including VAT).
  • Certificate of Compliance fee (if required due to a restriction on the deeds) – can range between £120 and £300 (including VAT).

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.

How Long Will My Mortgage/Remortgage Take?

How long it will take depends upon several factors. The average process takes between 4–12 weeks. It can be quicker or slower.

Stages of the Process

The precise stages involved in the mortgage/remortgage of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages:

  1. Take your instructions and give you initial advice.
  2. Carry out searches.
  3. Obtain further planning documentation if required.
  4. Contact the managing agents for their leasehold pack.
  5. Go through conditions of mortgage offer.
  6. Send Mortgage Deed to you for signature.
  7. Obtain pre-completion searches.
  8. Agree completion date.
  9. Arrange for monies to be received from new lender and you (if applicable).
  10. Complete new mortgage and repay existing mortgage (if applicable).
  11. Notify the Landlord/managing agents and deal with Certificate of Compliance (if applicable).
  12. Deal with application for registration at Land Registry.