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Personal Professional Prompt

Costs Information

Conveyancing and Property Matters

We set out below our own fees and also the anticipated payments due to others.

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
  • (in leasehold cases) this is the assignment of an existing lease and it 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.
  • there is only one mortgage involved in each transaction
  • We do not charge additional sums for:-
  • postage and telephone calls
  • dealing with identity verification and anti-money laundering due diligence
  • dealing with Stamp Duty Land Tax forms and submission to HM Revenue & Customs (in purchase cases)
  • dealing with repayment of first mortgage (in sale cases)
  • dealing with mortgage work for first mortgages (in purchase cases)

In the event that we have to carry out extra work or if an unusual or complex matter should arise during the case (eg a defect in the title, planning or building regulations difficulty, second mortgage, deed of trust), then we may charge an additional fee for our work in dealing with this issue.  We will contact you immediately if this should arise.  Before we carry out such work, we will provide you with an explanation and a quotation for the cost of the additional work. 

Property Sale (Freehold residential property)

Our fees cover all of the work required to complete the sale of your property and for information regarding the usual stages in property transactions please refer to  (link to Conveyancing page).

Our fees are calculated according to the sale price as set out in the following scale:

Sale Price (freehold house)

Our legal fee

Up to £200,000

£700.00 

£200,001 - £300,000

£750.00

£300,001 - £400,000

£800.00

£400,001 - £500,000

£900.00

£500,001-  £750,000

£950.00

£750,001 - £1,000,000

£1,000.00

£1,000,001 - £2,000,000

£1,925.00

Over £2,000,000

Review (start 0.14% of purchase price)

VAT will be charged at the current rate in addition to our legal fee set out above.

Our additional fees:

Our fee for each electronic money transfer  is £30.00 plus VAT

Electronic money transfer may be required to repay your mortgage (if any) on Completion or you may prefer to receive the proceeds of sale due to you by electronic money transfer instead of by cheque.

For example:

The grand total for the sale of a freehold house at a price of £300,000 where one electronic transfer fee (for mortgage repayment) is required would be:

Our fee £750.00

VAT £150.00

Our fee for electronic transfer of funds £30.00

VAT £6.00

Grand Total £936.00

Property Sale (Leasehold residential property)

Our fees cover all of the work required to complete the sale of your property and for information regarding the usual stages in property transactions please refer to  (link to Conveyancing page).

Our fees are calculated according to the sale price as set out in the following scale:

Sale price (leasehold residential property)

Our legal fee

Up to £200,000

£800.00

£200,001 - £300,000

£850.00

£300,001 - £400,000

£900.00

£400,001 - £500,000

£1,000.00

£500,001-  £750,000

£1050.00

£750,001 - £1,000,000

£1,100.00

£1,000,001 - £2,000,000

£2,025.00

Over £2,000,000

Review (start 0.14% of purchase price) plus VAT

VAT will be charged at the current rate in addition to our legal fee set out above.

Our additional fees:

Our fee for each electronic money transfer is £30.00 plus VAT

Electronic money transfer may be required to repay your mortgage (if any) on Completion or you may prefer to receive the proceeds of sale due to you by electronic money transfer instead of by cheque.

 

Anticipated Disbursements:

Disbursements are costs payable to third parties that relate to your matter.

In many leasehold cases, additional costs are payable to the landlord and/or management company.   These anticipated disbursements  are set out below.  The list is not exhaustive and other disbursements may apply depending on the terms of the lease and the particular management company arrangements.  We will update you on specific costs when we open your file and check the property title and other documents.  These costs may be more or less than the figures given below.

  • Freeholder fee for supply of detailed information pack regarding the property and the estate. Often the fee is between £100.00 and £300.00 plus VAT
  • Management Company fee for supply of detailed information pack regarding the property and the estate. Often the fee is between £100.00 and £300.00 plus VAT

For example:

The grand total for the sale of a leasehold flat at the price of £200,000 where one electronic transfer fee is required and where a freeholder fee for information pack is £200 plus VAT would be:

Our fee £800.00

VAT £160.00

Our fee for electronic transfer of funds £30.00

VAT £6.00

Freeholder fee for information pack £200.00

VAT £40.00

Grand Total £1,236.00

Property Purchase (Freehold residential property)

Our fees cover all of the work required to complete the purchase of your property and for information regarding the usual stages in property transactions please refer to  (link to Conveyancing page).

Our fees are calculated according to the purchase price as set out in the following scale:

Purchase price (freehold residential property)

Our legal fee

Up to £250,000

£700.00

£250,001 - £300,000

£775.00

£300,001 - £400,000

£850.00

£400,001 - £500,000

£950.00

£500,001 - £750,000

£1,000.00

£750,000 - £1,000,000

£1,125.00

£1,000,001 - £2,000,000

£2,025.00

Over £2,000,000

Review (start 0.15% of purchase price)

VAT will be charged at the current rate in addition to our legal fee set out above.

Our additional fees:

Our fee for each electronic money transfer is £30.00 plus VAT

 

Anticipated Disbursements:

Disbursements are costs payable to third parties that relate to your matter.

Stamp Duty Land Tax

This is a tax payable to HM Revenue & Customs.  The amount of tax depends on the purchase price of your property.  You can calculate the amount you will need to pay by using HM Revenue & Customs’ calculator (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the Welsh Revenue Authority’s calculator ( https://lttcalculator.wra.gov.wales/)

For example:

The grand total for the purchase of a freehold house at a price of £300,000 where one electronic transfer fee is required and where Stamp Duty Land Tax is payable at the standard rate would be:

Our fee £775.00

VAT £155.00

Our fee for electronic transfer of funds £30.00

VAT £6.00

Search fees including VAT £250.00

HM Land Registry fee £270.00

Stamp Duty Land Tax £5,000.00

Grand Total £6,486.00

Property Purchase (Leasehold residential property)

Our fees cover all of the work required to complete the purchase of your property and for information regarding the usual stages in property transactions please refer to  (link to Conveyancing page).

Our fees are calculated according to the purchase price as set out in the following scale:

Purchase price (leasehold residential property)

Our legal fee

Up to £250,000

£800.00

£250,001 - £300,000

£875.00

£300,001 - £400,000

£950.00

£400,001 - £500,000

£1,050.00

£500,001 - £750,000

£1,100.00

£750,000 - £1,000,000

£1,225.00

£1,000,001 - £2,000,000

£2,125.00

Over £2,000,000

Review (start 0.15% of purchase price)

VAT will be charged at the current rate in addition to our legal fee set out above.

 

Our additional fees:

Our fee for each electronic money transfer is £30.00 plus VAT

 

Anticipated Disbursements:

Disbursements are costs payable to third parties that relate to your matter.  In leasehold cases, additional costs are payable to the landlord and/or management company and these costs vary greatly depending on the lease and the particular management company arrangements.  We will update you on specific costs when we open your file and check the property title and other documents.  The leasehold costs may be more or less than the figures given below.

  • Search fees (including VAT) – approximately £250.00
  • HM Land Registry fee for registration of title – this depends on the purchase price of your property. You can calculate the amount you will need to pay using the HM Land Registry website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees
  • Leasehold Notice of Transfer fee – this is often between £25.00 and £150.00 plus VAT
  • Leasehold Notice of Charge fee (if the property is to be mortgaged ) – this is often between £25.00 and £150.00 plus VAT
  • Leasehold Deed of Covenant fee – this is often between £50.00 and £150.00 plus VAT
  • Leasehold Certificate of compliance fee – this is often between £50.00 and £175.00 plus VAT

Stamp Duty Land Tax

This is a tax payable to HM Revenue & Customs.  The amount of tax depends on the purchase price of your property.  You can calculate the amount you will need to pay by using HM Revenue & Customs’ calculator (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the Welsh Revenue Authority’s calculator ( https://lttcalculator.wra.gov.wales/)

For example:

The grand total for the purchase of a leasehold flat at a price of £200,000 where the landlord notice of transfer fee is £90 including VAT, the notice of mortgage fee is £90 including VAT, the deed of covenant fee is £90 including VAT and certificate of compliance fee is £90 including VAT and where only one electronic transfer fee is required and where Stamp Duty Land Tax is payable at the standard rate would be:

Our fee £800.00

VAT £160.00

Our fee for electronic transfer of funds £30.00

VAT £6.00

Search fees including VAT £250.00

HM Land Registry fee £190.00

Stamp Duty Land Tax £1,500.00

Landlord notice of transfer fee is £90

Notice of mortgage fee is £90

Deed of Covenant fee is £90

Certificate of Compliance fee is £90

Grand Total £3,296.00

How long will my sale or purchase transaction take?

It is difficult in property matters to provide an accurate assessment of timescale in view of the number of different factors that can affect this.  For example, number of parties in the chain of transactions, time taken to obtain final written mortgage offers, unforeseen legal difficulties.  However, exchange of contacts often happens within approximately 4 to 8 weeks from issue of contract documents, with completion approximately 2 weeks thereafter.  On many occasions, transactions complete more quickly or more slowly.  We will however do our best to deal with matters as quickly as possible for you.

Mortgages and Remortgages

Our fees cover all of the work required to complete the remortgage or mortgage of your property including checking the legal title of the property, carrying out required searches, reporting to you on the mortgage offer, arranging for you to sign the mortgage deed and then completing the mortgage transaction for you by drawing down mortgage funds and arranging repayment of any existing mortgage on your property.

Our fees for remortgage or mortgage of a residential property whether freehold or leasehold are £425.00 plus VAT.

Our additional fees:

Our fee for each electronic money transfer is £30.00 plus VAT

Anticipated Disbursements:

Disbursements are costs payable to third parties that relate to your matter.

  • Search fees (including VAT) – approximately £250.00
  • HM Land Registry fee for registration of title – this depends on the amount of the mortgage.  You can calculate the amount you will need to pay using the HM Land Registry website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees
  • (In leasehold cases only) Notice of mortgage fee payable to the landlord and/or management company  - this fee varies from leasehold property to leasehold property but often the fee is between £25.00 and £150.00 including VAT

 

For example:

The grand total for the remortgage of a freehold house for a new mortgage amount of £150,000 where one electronic transfer fee is required  would be:

Our fee £425.00

VAT £85.00

Our fee for electronic transfer of funds £30.00

VAT £6.00

Search fees including VAT £250.00

HM Land Registry fee £60.00

Grand Total £856.00

How long will my remortgage/mortgage transaction take?

We would normally aim to complete a remortgage/mortgage within 4 weeks from the issue of mortgage offer by the  lender.

Probate

We can help you through this difficult process by obtaining the Grant of Probate or Grant of Letters of Administration on your behalf.  We will also undertake collecting and distributing the assets.

Our work will include:

  • Providing you with a dedicated and experienced probate solicitor to work on your matter
  • Identify the legally appointed executor(s) or administrator(s) and beneficiaries
  • Accurately identify the type of probate application you will require
  • Obtain the relevant documents required to make the application
  • Complete the probate application and the relevant HM Revenue & Customs tax forms
  • Draft a legal oath for you to swear
  • Make the application to the Probate Court on your behalf
  • Obtain the probate and securely send two copies to you
  • Collect and distribute all assets in the estate
  • Settle debts

We calculate our fees for dealing with uncontested probate work whether there is a Will or not based on a fee of 2% of the total value of the estate plus VAT.

The following payments to others will be applicable:

Probate Court fee £215.00

Swearing Oath fee (per executor or administrator) approximately £7.00

Statutory Notice in the London Gazette and a local newspaper – estimated £220.00 including VAT

Inheritance Tax may be payable to HM Revenue & Customs depending upon the size of the estate and you can obtain information on this from their website at https://www.gov.uk/inheritance-tax

 

Please note this fee does not include conveyancing fees for dealing with the sale or transfer of any freehold or leasehold properties in the estate.

How long will my probate matter take?

We normally expect to obtain Probate or Letters of Administration within 6 months and to complete the administration within 12 months but this timescale can vary if unforeseen difficulties arise.