Our fees cover all the work required to complete the purchase of your property as set out in the stages of the process below.
Our approach to fees
Our fees will be determined by the value and complexity of the transaction and will also take into account any work required to deal with any unusual aspects of the purchase.
We offer a standard fixed fee for our residential property transactions subject to the proviso that the transaction has no complicating factors such as lack of certification for any alterations or building works carried out, title defects that need to be reported to lenders, remedied or indemnity insurance put in place or nonstandard mortgage conditions to be complied with. Our standard fixed fees start at £1,100 plus VAT and disbursements and increase in line with the value of the property as detailed below.
plus VAT at the rate of 20%
Additional charges to cover complicated factors will be based upon the time needed to deal with them. The hourly rates charged will be dependent on the experience of the Solicitor dealing with the transaction and start at £155 plus VAT. If we need to liaise with other solicitors in other departments within the firm then their hourly rates are also set out below. We will provide you with an estimate of the total additional charges either at the outset of the transaction or when we become aware of any complicating factors.
If your purchase falls through before it is completed then we will charge for the time spent to the point where the matter became aborted subject to our fees never exceeding the agreed fixed fee and charges for dealing with any complicating factors.
Hourly rates of our solicitors
If complicating factors arise then we will charge for the extra time involved based on our standard hourly rates set out below:
All rates are subject to VAT at 20%.
Disbursements are costs relating to your matter that are payable to third parties, such as the Land Registry.
On a freehold house purchase we would expect disbursements to include:
- Searches including but not limited to a search of the local land charge register and standard enquiries of the local authority, drainage search, environmental search, planning history and also any other recommended searches such as mining or flood risk. Prices depend on the area and search provider so we can only estimate that these will be between £300-400 plus VAT.
- A fee for transferring any money as a same day payment. For example, to forward the money to the sellers solicitors on completion: £25 plus VAT
- Identification check to satisfy money laundering requirements: £5 plus VAT per person
- Lawyer Check search to verify the seller’s solicitors bank details: £10.00 plus VAT
- Pre completion searches at the Land Registry: £3.00 plus VAT per title
- Pre completion bankruptcy search: £2.00 plus VAT per name searched
- Stamp Duty Land Tax (SDLT). This varies dependent on the transaction and we recommend you use the official Government Stamp Duty Land Tax calculator to ascertain the likely charge
- Land Registry registration fees. The fee will dependent on the value and nature of the transaction and we recommend that you use the official Land Registry fee calculator to ascertain the likely charge
- Fees payable to a third party such as a rentcharge collector, when providing notice of the purchase to them. These will be dependent on the provisions in the lease and the individual landlord or managing agents.
The stages involved in the sale of a residential property vary according to each particular transaction, however, we have listed below the key stages that will be covered by our legal fee:
- Taking your instructions and providing you with initial advice;
- Obtaining contract, title and supporting information documents from the seller's solicitors
- Reviewing the contract and supporting documents and raising any necessary title enquiries with the seller's solicitors
- Obtaining the usual searches for a property and reviewing the contents of the same
- If you are obtaining mortgage funding, receiving mortgage instructions, reviewing the same and ensure compliance with any conditions
- Preparing an SDLT return form, transfer and other documents relevant to that particular transaction
- Reporting to you on the title, information documents, searches and other relevant matters
- Meeting with you to obtain your signature on the Contract and Transfer document;
- Taking your instructions on suitable completion dates
- Exchanging contracts to confirm the completion date and secure the purchase of the Property;
- Completing the purchase transaction
- Paying any SDLT due as a result of the transaction and filing the SDLT return
- Registering the property and your mortgage with the Land Registry, if any
- Serving notice of purchase and charge, if any, on any relevant third parties
- Providing you with confirmation of the registration of the property into your name and any pre-registration deeds and documents
- Providing your mortgage lender with a copy of the updated title documents