RESIDENTIAL CONVEYANCING FEES

Our fees quoted below cover all of the work* required to complete the purchase or sale of your property, including, where applicable, 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.

PURCHASE

Residential Freehold property

  • Legal fees** £695 – £900   (average, dependent on price of Property and mortgage arrangements)
  • Search fees £200   (approx.)
  • HM Land Registry fee £40 – £270 (average, dependent on price of Property)
  • Stamp Duty on-line Filing Fee** £72  (average, dependent on your tax circumstances)
  • Sellers Solicitors bank details check**  £20
  • Electronic money transfer fee** £30
  • Admin/postage/telephones/copying**  £25

VAT is payable on items marked ** at the prevailing rate

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 and your circumstances, and is calculated at the residential prevailing rates. 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

Residential Leasehold property

Please note that leasehold property Legal Fees will be on average £150 higher than standard freehold fees, due to extra time involved.  You would also have to serve notice on the freeholder, that you are the new owner, and the freeholder usually charges a fee of estimated £75-£100 to deal with this notice.

Unregistered Land or New-Build

Property which is not registered at land registry or which is a new-build on a development will typically incur additional Legal Fees on average of £170 – £275 plus VAT.

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 ID, 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 (and Lease if applicable)
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents, searches 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

Please note we do not undertake a survey for you, and a survey is a personal matter for you to arrange if you so desire.  We would advise you have a survey undertaken on any property purchase, prior to exchange of contracts.

SALE

Residential Freehold property

  • Legal fees** £675 – £850   (average, dependent on price of Property and mortgage arrangements)
  • Land Registry Documents   £9
  • Electronic money transfer fee** £30
  • Admin/postage/telephones/copying**  £25

VAT is payable on items marked ** at the prevailing rate

Residential Leasehold property

Please note that leasehold property Legal Fees will be on average £125 higher than standard freehold fees, due to extra time involved.  You would also have additional disbursements to obtain a sales information pack from the freeholder, and a freeholder usually charges a fee for this estimated £150 to provide the pack.

Unregistered Land or New-Build

Property which is not registered at land registry or which is a new-build on a development will typically incur additional Legal Fees on average of £170 – £275 plus VAT.

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 that you may wish to include:

  • Take your instructions and ID
  • Request you to complete property information forms
  • Prepare Contract papers for the buyer’s solicitor
  • Liaise with you to reply to any necessary enquiries from the buyer’s solicitor
  • Send final contract to you for signature
  • Agree completion date (date from which you will no longer own the property)
  • Exchange contracts and notify you that this has happened
  • Complete purchase
  • Redeem your mortgage (if applicable)
  • Account to you with the sale proceeds

RESIDENTIAL REMORTGAGE and/or TRANSFER OF EQUITY

Our fees to deal with a Remortgage on behalf of you and your mortgage lender range from £250 to £350 plus VAT and disbursements on average, and depend on whether the property is freehold or leasehold, the mortgage and property value, and any non-standard matters affecting the property.

Our Fees to undertake a Transfer of Equity only will range from £250 to £350 plus VAT and disbursements on average.

Our Fees to undertake a Transfer of Equity and Remortgage will range from £350 to £495 plus VAT and disbursements on average.

Disbursements and other costs will include:

  • Land Registry Documents   £9
  • Land Registry Searches £3
  • Bankrupcty Search (each) £2
  • Local Search (approx.) £100
  • Land Registry Fee (average) £40
  • Notice Fee to Freeholder (approx.)    £50 (leasehold only)
  • Electronic money transfer fee** £30  (each)
  • Admin/postage/telephones/copying**  £25

VAT is payable on items marked ** at the prevailing rate

The above transactions can prove to be quite individual when we receive initial quotation enquiries and instructions from you, and a full quotation shall be provided upon request and tailored to your circumstances.

COMMERCIAL CONVEYANCING FEES

Our Fees quoted below cover all of the work* required to complete the commercial transaction you are engaging us to act upon.  

PURCHASE

Commercial Freehold property

  • Legal fees** £900 – £1,350   (average, dependent on price of Property and mortgage arrangements)
  • Search fees £275   (approx.)
  • HM Land Registry fee £40 – £270 (average, dependent on price of Property)
  • Stamp Duty on-line Filing Fee** £84  (average, dependent on your tax circumstances)
  • Sellers Solicitors bank details check**  £20
  • Electronic money transfer fee** £30
  • Admin/postage/telephones/copying  £30

VAT is payable on items marked ** at the prevailing rate

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 and your circumstances. 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..

Commercial Leasehold property

Please note that leasehold property Legal Fees will be on average £285 higher than standard freehold fees, due to extra time involved.  You may have to enter into collateral agreements or warranties to complete the transaction, for which there may be additional Legal Fees.  You would also have to serve notice on the freeholder, that you are the new owner, and the freeholder usually charges a fee of estimated £75-£100 to deal with this notice.

Unregistered Land or New-Build

Property which is not registered at land registry or which is a new-build on a development will typically incur additional Legal Fees on average of £275 plus VAT.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property and the commercial prevailing rates.

SALE

Commercial Freehold property

  • Legal fees** £875 – £1,200   (average, dependent on price of Property and mortgage arrangements)
  • Land Registry Documents   £9
  • Electronic money transfer fee** £30
  • Admin/postage/telephones/copying  £25

VAT is payable on items marked ** at the prevailing rate

Commercial Leasehold property

Please note that leasehold property Legal Fees will be on average £250 higher than standard freehold fees, due to extra time involved.  You may require a Licence to Assign your lease, and may be required to provide the freeholder with security for the incoming leaseholder, and as such additional Legal Fees would apply, dependent on the transaction requirements.

Unregistered Land or New-Build

Property which is not registered at land registry or which is a new-build on a development will typically incur additional Legal Fees on average of £170 – £275 plus VAT.

How long will my conveyancing transaction take?

The timescale 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 and their individual circumstances, the length of the chain, and any requirements of the legal title and legal documents.   We find it easier to be proactive in the transaction and to keep you abreast of the timescales, as the matter proceeds, rather that delay the transaction or give you false hope.

If you require us to expedite your transaction, or if the matter becomes unduly protracted, then please note additional time may be incurred for which there would be additional Legal Fees.

* We will provide you with a firm quotation when you telephone the office to provide us with your personal details and details of the transaction(s) you are undertaking, given that the estimated average fees and disbursements can vary (sometimes quite significantly) dependent on the exact transaction(s) you are undertaking and a number of variables.

Our fees estimated above assume 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
  • if leasehold, 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
  • the property is to be vacant on completion
  • no indemnity policies are required. Additional disbursements may apply if indemnity policies are required
  • we act for any mortgage lender involved

EMPLOYMENT SETTLEMENT AGREEMENTS

Our legal Fees to act for Employer or Employee in providing drafting services, negotiation and advice, are on average between £250 – £350 plus VAT, but could be more depending on the complexity of the agreements required and if the agreement is likely to be contested.  We would time-cost additional work at our hourly rate of £180 plus VAT, although will always notify you in writing if this is to apply, at the outset of the matter.

Where we act for the Employee, and the matter is not contested, we will usually not render any invoice to the Employee (in the usual circumstances that the Employer will cover our Legal Fees as part of the settlement)

PROBATE & ESTATE ADMINISTRATION

This process involves checking the Will, identifying the executor and any beneficiaries, obtaining values of all assets and liabilities in the estate and preparing an inheritance tax return to HMRC, preparing the Executors/Administrators Oath and lodging with the probate court.   This will in turn lead to a Grant appointing you to collect assets and pay debts, preparing estate accounts, paying legacies and distributing the net estate to beneficiaries. 

The time involved depends largely on the number of assets and on average the time incurred will be between 5 and 11 hours work at £170 per hour.  Total costs estimated at between £850 to £1,870 plus VAT and disbursements. 

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 and possibly greater.

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 4 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 and other costs incurred in the process will include:

  • Probate application fee of £155 plus 50p per sealed copy
  • £7 Swearing of the oath (per executor)
  • Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
  • £60 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
  • £68.50 Post in a Local Newspaper – This also helps to protect against unexpected claims.
  • Electronic Bank Transfer Fees £36 inclusive of VAT (per transfer)
  • Admin/postage/telephones/copying £36 inclusive of VAT

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 sealed copies of the grant are required, they will cost 50p each.
  • 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 9-12 months. Typically, obtaining the grant of probate once the application is ready for submission takes 4-6 weeks. Collecting assets then follows, which can take between 4-6 weeks. Once this has been done, we can distribute the assets, which normally takes 2-4 weeks.

WILLS

Our fees quoted below cover attending you in the office for advice and to taking instructions, preparing a draft Will for your consideration, making any necessary amendments and attending you in the office for signing.

Simple Will: £150 plus VAT

Mirror Wills: £200 plus VAT

If the Will is complex, we would charge you an additional rate dependent on how much time is involved in drafting the Will, at an hourly rate of £170 plus VAT.

We are also able to offer a home visit on request.  Our fees will be based on an additional hourly rate of £170 plus VAT.

LASTING POWERS OF ATTORNEY

There are two types of Lasting Power of Attorney, one for Financial Decisions and the other for Health and Care Decisions.  You may wish to choose one or both.

Our fees quoted below cover attending you in the office to take instructions, preparing your Lasting Power of Attorney and arranging for the document to be signed by both yourself (the donor) and the attorneys. We will then submit the Lasting Power of Attorney to the Office of Public Guardian, if required by you.

1 Lasting Power of Attorney: £300 plus VAT

2 Lasting Powers of Attorney: £450 plus VAT

In addition to the above fees, if you require your Lasting Power of Attorney to be registered, the Court of Protection’s Court fee is £82 per registration.