Residential Conveyancing

The precise stages involved in the purchase of a residential property vary according to the circumstances. The process can be quick or slow, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle can take a little longer than expected.

The fees and expenses quoted above assume that this will be a standard transaction. However, unforeseen difficulties may arise which would cause fees and expenses to increase. Examples would be where we discover a defect in title, there are missing documents, lack of planning permission and/or building regulations approval. The main stages of the process are:

• Take your instructions 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
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of Seller’s solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Send report on title and 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
• Provide you with a completion statement showing financial aspect of the transaction
• 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

Freehold Sale fees

VAT is charged at the prevailing rate, currently 20%

£0 – £500,000	£1,540.00 + VAT
£500,001 – £749,999	£1,650.00 + VAT
£750,000 – £999,999	£1,815.00 + VAT
£1,000,000 – £1,249,999	£2,090.00 + VAT
£1,250,000 – £1,499,999	£2,365.00 + VAT
£1,500,000 – £1,749,999	£2,695.00 + VAT
£1,750,000 – £1,999,999	£2,970.00 + VAT
£2,000,000 – £2,999,999	£3,740.00 + VAT
£3m plus	0.12%

Expenses

Land Registry copies	£8.50 + VAT per document
Digital ID/AML Check (approx.)	£14.00 + VAT per person
Administration fee including bank transfer	£45.00 + VAT each

There is an additional charge of £250 plus v.a.t if only part of the land or property is being sold.

Key Stages and Timescales for Freehold Sale

The precise stages involved in the sale of a residential property vary according to the circumstances. The process can be quick or slow, depending on the parties in the chain. However, below we have suggested some key stages:

• Take your instructions and give you initial advice
• Send you Property Information Forms to complete and return
• Prepare contract documents to send to Buyer’s Solicitors
• If the property is mortgaged, request redemption figures
• Reply to any enquiries raised by the Buyer’s Solicitors
• Obtain any documentation required by the Buyer’s Solicitors
• Send final contract and transfer to you for signature
• Agree completion date (date from which you will sell the property and move out)
• Exchange contracts and notify you that this has happened
• Provide you with a completion statement showing financial aspect of the transaction
• Complete sale
• Deal with post completion matters

Leasehold Purchase

VAT is charged at the prevailing rate, currently 20%

£0 – £500,000	£2,200.00 + VAT
£500,0001 – £749,999	£2,420.00 + VAT
£750,000 – £999,999	£2,665.00 + VAT
£1,000,000 – £1,249,999	£3,025.00 + VAT
£1,250,000 – £1,499,999	£3,465.00 + VAT
£1,500,000 – £1,749,999	£3,960.00 + VAT
£1,750,000 – £1,999,999	£4,290.00 + VAT
£2,000,000 plus (from)	£4,785.00 + VAT
£3m plus	0.15%

Additional Legal fees (if applicable)

Mortgage	£165.00+ VAT
New Build from developer	£605.00 + VAT
First Registration of Title	£285.00 + VAT
Shared Ownership Scheme	£430.00 + VAT
Help to Buy Mortgage	£430.00 + VAT
Help to Buy ISA	£70.00+ VAT
Declaration of Trust	£360.00 + VAT

Expenses

Land Registry Scale fee	Dependent on purchase price
Searches (approx.)	Dependent on Local Authority
Land Registry search	£8.50 + VAT each title
Bankruptcy search	£7.50 + VAT per person
Digital ID/Source of Funds/AML Check (approx.)	£14.00 + VAT per person
Digital Stamp Duty submission	£5.00 + VAT
Digital Registration	£5.00 + VAT
Administration fee including bank transfer fee	£45.00 + VAT each
Stamp Duty Land Tax (Land Transaction Tax for properties in Wales)	Dependent on purchase price and ownership of other properties

Click for Stamp Duty Land Tax Calculator

Click for Welsh Land Transaction Tax calculator

Click for Land Registry

As the property is leasehold there will be additional expenses payable, to the Landlord or a Managing Agent, as required under the terms of the Lease. These expenses will be notified to us by the seller’s solicitors as part of the process, and will include their charges for dealing with the Notice of Change of leaseholder and Notice of Charge (if you are buying with a mortgage). The lease may require you to enter into a Deed of Covenant, which is your legal promise to observe and perform the covenants in the Lease. The Landlord may need to provide a Certificate of Compliance.

You will also be required to pay service charge, ground rent and possibly a sinking fund. We will explain these payments to you and check that the figures are accurate.

Key Stages and Timescales for Leasehold Purchase

The precise stages involved in the purchase of a residential property vary according to the circumstances. The process can be quick or slow, depending on the parties in the chain. If there are not many years left before the lease expires, an extension of the lease can usually be negotiated. Unfortunately, this can make the purchasing process significantly longer, between 2 and 4 months. In such a situation additional fees and charges would apply.

• Take your instructions 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
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of Seller’s solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Send report on title and 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
• Provide you with a completion statement showing financial aspect of the transaction
• 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
• Deal with registration with Landlord/Management Company

Leasehold Sale fees

VAT is charged at the prevailing rate, currently 20%

£0 – £500,000	£1,980.00 + VAT
£500,0001 – £749,999	£2,145.00 + VAT
£750,000 – £999,999	£2,310.00 + VAT
£1,000,000 – £1,249,999	£2,640.00 + VAT
£1,250,000 – £1,499,999	£3,025.00+ VAT
£1,500,000 – £1,749,999	£3,410.00 + VAT
£1,750,000 – £1,999,999	£3,850.00 + VAT
£2,000,000 – £2,999,999	£4,235.00 + VAT
£3m plus	0.15%

Expenses

Land Registry copies	£8.50 + VAT per document
Digital ID/AML Check (approx.)	£14.00 + VAT per person
Administration fee including bank transfer	£45.00 + VAT each

As the property is leasehold there will be additional expenses such as the Management Pack to be provided by the Management Company on behalf of the Landlord, for which they require a payment. We will be required to provide this to the Buyer’s solicitors as part of the contract documentation.

Key Stages and Timescales for Leasehold Sale

The precise stages involved in the sale of a leasehold residential property vary according to the circumstances. The process can be quick or slow, depending on the parties in the chain. If you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such, a situation additional charges would apply.

• Take your instructions and give you initial advice
• Send you Property Information Forms to complete and return
• Prepare contract documents to send to Buyer’s Solicitors
• If the property is mortgaged request redemption figures
• Reply to any enquiries raised by the Buyer’s Solicitors
• Obtain any documentation if required by the Buyer’s Solicitors
• Send final contract and transfer to you for signature
• Agree completion date (date from which you will sell the property and move out)
• Exchange contracts and notify you that this has happened
• Provide you with a completion statement showing financial aspect of the transaction
• Complete sale
• Deal with post completion matters

Remortgage fees

VAT is charged at the prevailing rate, currently 20%

Freehold property

£990.00 + VAT

Leasehold property

£1,100.00 + VAT

Expenses

Land Registry documents	£8.50 + VAT per document
Land Registry search	£8.50 + VAT
Bankruptcy search	£7.50 + VAT per person
Digital ID/Source of Funds/AML Check (approx.)	£14.00 + VAT per person
Digital Registration	£5.00 + VAT
Adminstration fee including bank transfer fee	£45.00 + VAT each

Key Stages and Timescales for Remortgage

The precise stages involved in the remortgage of a residential property vary according to the circumstances.

However, below we have suggested some key stages

• Take your instructions and give you initial advice
• Review the legal title
• Review your new lenders offer and report to you
• If the property is already mortgaged request redemption figures
• Send mortgage deed to you for signature
• Agree completion date
• Provide you with a completion statement showing financial aspect of the transaction
• Deal with post completion matters and provide you with updated legal title

Transfer of Equity

Please contact us for more information on how we can help you with your Transfer of Equity, and an estimate of costs.

For guidance on buying and selling in England and Wales, see the HM Government fact sheets below.