Conveyancing Fee Structure
Our charges are ordinarily agreed as a fixed price. This is subject to a minimum fee of £1,750 plus VAT and disbursements for sales or purchases up to a sale price of £500,000. This will be a fixed fee for the entire transaction through to completion (and registration if appropriate). This can be as much as £5,000 -£10,000 for high value and complicated transactions but our average charge is in the range of £1,750 to £2,250 plus VAT. Timescales will depend on the individual circumstances of the transaction but can often take 6-8 weeks.
The work will be carried out by qualified solicitors. In the case of any part of the work delegated to trainee solicitors or non-qualified fee earners they will be overseen by a qualified solicitor of suitable experience.
With the exception of Land Registry application fees it is anticipated that all disbursements will attract VAT. The likely costs of the various disbursements are as follows:
On a Purchase
Search fees of between £250 and £500 depending on the local authority and the number of searches required;
Land Registry fees for Office Copy Entries of between £7.20 and about £25 depending on the number of titles and related title documents (if required and not provided by the seller);
A Land Registry fee for a priority search in the sum of £3.00 plus VAT and where the purchase is being financed with the assistance of a mortgage, a local land charges fee for a bankruptcy search of £2.00 plus VAT for each buyer;
Land Registry registration fees of between £40 and £950 depending on the value of the property and whether the application can be submitted electronically;
Stamp Duty Land Tax in England or Land Transaction Tax in Wales which will depend on the value of the Property and the circumstances of the buyer;
Most leases require that a notice of transfer is served upon the landlord following completion advising them of the details for the buyer. The landlord or their managing agents tend to charge in the region of £50 to £100 plus VAT for registration of such a notice. However, these fees are dependent on the landlord or managing agents and can be higher or lower than this band. Such a notice is also required where a mortgage is involved and can attract similar charges for registration;
Where a lease requires a deed of covenant, the landlord, the managing agents or their solicitors may charge a fee for provision of a draft deed of covenant. The cost of this tends to be in the region of £250 to £500 plus VAT but again, this is dependent on the party providing the draft.
On a Sale
Land Registry fees for Office Copy Entries of between £7.20 and about £25 depending on the number of titles and related title documents;
For leasehold properties – Managing Agents management pack and replies to leasehold property enquiries – managing agents typically charge between £300 and £600 plus VAT for these.
On Either Transaction
Bank transfer fees of £6 per electronic payment via CHAPs (for a transfer of a value over the level permissible for Same Day Payments);