Residential Property

13/12/2018

Size matters – our size means that we are on the panel with all high street lenders so that you will have one solicitor acting for both you and your lender for your transaction potentially saving you time and costs.

Quality matters – you will have a qualified solicitor or licensed conveyancer acting for you from beginning to end of your matter. We have grown our reputation on the personal service that we deliver to our clients. Please see the profiles of our team for more information.

Relationship matters – our profile pages set out who is in our property team, which office they are based in and their level of experience. You will be communicating with this person quite regularly over the period of the transaction so please do contact them to start the relationship blossoming! For a guide to the process please look at these documents:

Theresa Kennedy is the associate director overseeing the Property department who qualified in 1988 and has been with the firm since 2019.

 

PURCHASE FEES

What are my legal fees going to cost?

Each property transaction is unique so please contact us to obtain a bespoke estimate for your purchase.

An example estimate for a freehold purchase of a property registered at the Land Registry for £500,000 with a mortgage:
Our legal fee   £900 + VAT

An example estimate for a leasehold purchase of a property registered at the Land Registry for £350,000 with a mortgage:
Our legal fee   £1050 + VAT

These standard fees do not take into account matters that are unforeseeable at the outset of your matter which can cause unexpected difficulties and additional time and are therefore likely to increase the cost of your matter. For example, if the land is unregistered, if there are title defects, lack/missing paperwork, all parties being co-operative and that there are no unreasonable delays in providing information and no indemnity policies are required.

If you would like a specific solicitor or partner to look after your matter their hourly rate may apply instead of the standard legal fees listed. Hourly rates are displayed below.

Supplemental Fees:

Online ID verification (per person)£20 + VAT
Bank Transfer Fee (per transfer)£30 + VAT
Lenders report fee£150 + VAT
Documentation fee£40 + VAT
New build fee£200 + VAT
Help to Buy£200 + VAT
SDLT fee£30 + VAT


Disbursements/other costs:
These are costs incurred on your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process and they should be the same at all firms if they are just charging you what they are being charged.

  • HM Land Registry fee – calculated according to the amount of the purchase price (see Land Registry fees calculator here)
  • Search fees – approximately £290 (with the benefit of the search fee guarantee that if your matter goes abortive we will you obtain another search pack for free if you reinstruct us on another property within 6 months of the searches having been submitted)
  • SDLT/Land Tax – dependent upon the purchase price of the property and can be calculated using the calculator on HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.
  • Bankruptcy search – £2 + VAT per name
  • Land Charges search – £3 + VAT per title

There are certain disbursements on leasehold matters that relate to the individual lease but typically include

  • Notice of transfer fee – to the Landlord or Management Company as per the requirements of the Lease and can range from £30-£150 per notice
  • Notice of charge fee (if the property is mortgaged) – anything from £30-£150
  • Deed of covenant fee – as required by a Management Company and can be from £50-£400
  • Certificate of compliance – to be confirmed by the Management Company and can range from £50-£400

You should also be aware that ground rent and service charge are likely to apply from the date of ownership of the property and these will be confirmed once we have the lease information.

How long will it take?
Each sale/purchase is unique and the time it takes from your offer being accepted until you can move into your property depends on a number of factors. The average process takes 8-12 weeks to get to completion albeit leasehold purchases tend to take longer. We have completed a transaction as fast as 24 hours before so it does depend on each individual case!

Stages of the purchase process:
Please see the Guide

 

SALE FEES

What are my legal fees going to be?
Our legal fee estimates below are for all the work that we can foresee (without knowing more details from you!) for the sale of your home.

An example estimate for a freehold sale of a property registered at the Land Registry for £500,000 with a mortgage:
Legal fee         £850 + VAT

An example estimate for a leasehold sale of a property registered at the Land Registry for £350,000 with a mortgage:
Legal fee         £1000 + VAT

These standard fees do not take into account matters that are unforeseeable at the outset of your matter which can cause unexpected difficulties and additional time and are therefore likely to increase the cost of your matter. For example, if the land is unregistered, if there are title defects, lack/missing paperwork, all parties being co-operative and that there are no unreasonable delays in providing information and no indemnity policies are required.

If you would like a specific solicitor or Partner to look after you matter their hourly rate may apply instead of the standard legal fees listed. Hourly rate are displayed under our individual profiles.

Supplemental fees:

Online ID verification (per person)£20 + VAT
Bank transfer Fee (per transfer)£30 +VAT
Documentation£40 +VAT
Leasehold fee£150 +VAT


Disbursements/other costs:
These are costs incurred on your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process and they should be the same at all firms if they are just charging you what they are being charged.

HM Land Registry downloads£3-£10 + VAT per document or plan
Bankruptcy search£2 + VAT per name

On the sale of a leasehold property there will be additional charges for the Landlord and or Management Company to provide information that is essential for the sale. This will range from £100-£300. The Landlord/Management Company will determine the cost.

How long will it take?
Each sale/purchase is unique and the time is takes from your offer being accepted until you can move into your property depends on a number of factors. The average process takes 8-12 weeks to get to completion. We have done it as fast as 24 hours before so it does depend on each individual case!

Stages of the sale process:
Please see our guides for the stages of the process.

 

REMORTGAGING

What are my legal fees going to cost?
Our legal fee estimates below are for all the work that we can foresee (without knowing more details from you!) for the remortgage of your home.

House price brackets:

£0–£150,000£450.00 + VAT
£150,001–£250,000£450.00 + VAT
£250,001–£500,000£550.00 + VAT
£500,001–£750,000£550.00 + VAT
£750,001–£850,000£550.00 + VAT
£850,001–£950,000£550.00 + VAT
£950,001–£1,050,000£600.00 + VAT
£1,050,001–£1,300,000£650.00 + VAT
£1,300,001–£1,500,000£700.00 + VAT
£1,500,001–£1,750,000£750.00 + VAT
£1,750,001–£1,750,000£800.00 + VAT

The above is based on the property being in Buckinghamshire and being registered at the Land Registry. Please contact us for an estimate about your specific remortgage.

Supplemental fees:

Online ID verification (per person)£20 + VAT
Bank transfer Fee (per transfer)£30 +VAT
Documentation£40 +VAT
Leasehold fee£150 +VAT


Disbursements/other costs:

These are costs incurred on your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process and they should be the same at all firms if they are just charging you what they are being charged.

HM Land Registry downloads£3-£10 + VAT per document or plan
Bankruptcy search£2 + VAT per name
HM Land Registry feecalculated according to the value of the property
Search feesapproximately £290 (although some lenders will accept a no search indemnity which can be cheaper depending upon the value of the property)
Bankruptcy search£2 + VAT per name
Land Charges search£3 + VAT per title

There are certain disbursements on leasehold matters that relate to the individual lease but typically include:

Notice of charge fee (if the property is mortgaged)anything from £30-£150

How long will it take?

Each remortgage is unique depending on the property. The average process takes 3-4 weeks to draw down the funds from the lender.

Stages of the remortgage process

Please see our guide for the stages of the process.

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