Price and Service Information: Residential Conveyancing
Cost of Service
Our residential conveyancing service is priced according to the value of the property you are buying or selling. We will always provide you with a cost estimate at the commencement of work. The figures given at this stage are estimates only and are exclusive of VAT. We will inform you if and when it becomes apparent that the final charge will be in excess of the figure given to you.
Below, we set out our frees for the sale and/or purchase of property and list the typical disbursements associated with the process.
|SALE||Fees (Ex VAT)||PURCHASE||Fees (Ex VAT)|
|First Time Buyer||£600 + VAT no lender Fee|
|Up to £200,000||£695||Up to £200,000||£695|
|Up to £350,000||£745||Up to £350,000||£745|
|Up to £500,000||£795||Up to £500,000||£795|
|Up to £750,000||£945||Up to £750,000||£945|
|Up to £850,000||£995||Up to £850,000||£995|
|Up to £950,000||£1,145||Up to £950,000||£1,145|
|Over £950,000||£1,500||Over £950,000||£1,500|
|Remortgage||£500 + VAT|
|Transfer of Equity – no mortgage||£500 + VAT|
|Transfer of Equity (mortgagees consent)||£600 + VAT|
|Transfer of Equity with re-mortgage||£625 + VAT|
What is included in the price?
The following items make up all of the elements that we include in our fee, to complete your transaction.
Sale: drafting contract documents, investigating the title, dealing with enquiries, liaising with Freeholders or Management Companies (if applicable), redeeming any charges existing on the property (if applicable) and formally completing the transaction.
Purchase: checking draft contract documents, investigating the title, raising enquiries, liaising with Freeholders and Management Companies (where applicable), acting on behalf of your mortgage lender and drawing down mortgage funds (where applicable), formally completing the transaction and dealing with post completion registration formalities at the Land Registry/Management Company (if applicable).
Remortgage: investigating title documentation and mortgage documentation, acting on behalf of your mortgage lender and drawing down mortgage funds and redeeming any existing charges.
Transfer of Equity: investigating title documentation, drafting Transfer Deed or checking draft Transfer Deeds (depending on which side we are acting). Liaising with any mortgage lender (if applicable), formally completing the transaction and dealing with post completion formalities at the LR.
What factors could increase the price?
An increase in the complexity of the matter, should more information come to light as the transaction progresses.
We will always provide you with a cost estimate at the commencement of work. The figures given at this stage are estimates only and are exclusive of VAT. We will inform you if and when it becomes apparent that the final charge will be in excess of the figure given to you. [Include anything else in this list?]
What is not included in the price?
Below, we set out the disbursements that will be charged in addition to our fee:
|Office Copy Entries||£6.00
(Plus £3.00 per document if applicable)
|We are contractually obliged to provide a Title Information Document and Title Plan (£6.00) plus any documentation revealed within the Title Information Document (i.e. Lease, Conveyance, Transfer) – at a cost of £3.00 per document (if registered).|
|Bank Charges||£32.40 (incl. VAT)
BACS – £6.00 (incl. VAT)
|For redeeming an existing Mortgage – this takes place the same day as completion so needs to be by Telegraphic Transfer (TT).
If a client is due money back from the sale they have the option of a TT to receive funds on the same day as completion (£32.40) Or via BACS which takes 3 -5 working days to reach their account.
|Possible Disbursements if all requested documentation cannot be provided or obtained online|
|FENSA Certificate||£20 (incl. VAT) per certificate|
|Planning documentation||Variable||Dependant on which Council this is requested from|
|Indemnity Policies||Variable||The cost of these is dependent on what you are indemnifying against and the value of the property. We will inform you during the transaction if this will be applicable to your matter.|
|Leasehold packs||Variable||This charge can vary depending on the management company. We will inform you during the transaction if these will be applicable to your matter.|
|Index Standard Search Pack||£304.86 (incl. VAT)||Includes: Regulated Local Authority Search, Regulated Water and Drainage Search, Homebuyers Search (Enviro), DevAssess and Chancel Liability Indemnity.|
|Bank Charges||TT £32.40 (Incl. VAT)
|Sending completion monies to the vendors Solicitor.
(£12.00 of this is a bank charge charged by Lloyds that we have to pass onto the client)
|Land Registry Bankruptcy Search (K16)||£2.00
|Only applicable for those buying with a mortgage.|
|Land Registry Priory Search (OS1)||£3.00|
|SDLT E Filing Fee||£8.40 (incl. VAT)||Even if Stamp Duty is not payable on a transaction a return still has to be filed on all properties with a value of over £40,000.|
|Land Registry Fee||£20.00 – £910.00||Depends of the value of the property and whether the property is already registered.|
|If purchasing a Leasehold Property, you may also incur the following fees:
· Deed of Covenant Fee
· Notice of Assignment Fee
· Certificate of Compliance Fee
We will inform you during the transaction if these will be applicable to your matter.
|Indemnity policies – the cost of these is dependent on what you are indemnifying against and the value of the property. We will inform you during the transaction if these will be applicable to your matter.|
We estimate that, all being well, a sale transaction will take in the region of 8 to 12 weeks. A purchase will take between 8 to 10 weeks (following receipt of contract documentation). Lastly, Remortgages and Transfers of Equity could take 2 to 4 weeks.
Experience and qualifications
Dede Martin Ukuti, Solicitor
Plus 16 years post qualification experience.