Acting for you in respect of your purchase of a residential property:
As part of this service we will:
In relation to leasehold properties we will also:
How long it will take from your offer being accepted until you can move in to your new home will depend on a number of factors. The average process takes between 6 to 8 weeks to exchange, and a further one or two weeks before completion, dependent on all parties involved being agreeable to the completion date.
It can be quicker or slower, 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, it could take 10 to 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 4 months. In such, a situation additional charges would apply.
What is the Estimated Fee
Our fee for dealing with a normal freehold conveyancing property purchase is:
|Purchase Price||Our Legal Fees (Freehold)||Our Legal Fees (Leasehold)|
|£400,000 – £699,999||£795||£895|
|£700,000 – £999,999||£895||£995|
|£1,000,000 – £1,499,999||0.125%||0.15%|
|£1,500,000+||Please call us for quote||Please call us for quote|
If you are buying with the assistance of a mortgage, we charge an additional fee of £195 plus VAT, assuming the mortgage is being provided by a high street lender. This includes:
Additional fees may apply in instances that fall outside of the normal conveyancing transaction. Please see Potential Additional Fee section below.
You should note that for all new clients of the firm, we will conduct an electronic ID search for Anti Money Laundering compliance. The administrative fee for arranging these checks is £15 plus VAT.
If we are arranging the transfer of funds electronically, we will charge a fee for our time involved in arranging each transfer, for example sending completion money to your seller’s solicitors on completion, the cost of this and the amount we pay to the bank for the transfer is £25 plus VAT per transfer.
Information on Estimated Fees
Your fee will reflect work involved in your transaction. Our fee assumes that:
There may be additional documents and, requirements of your specific purchase, based on the documentation required to transfer the title into your name, or to deal with specific parties involved in your transaction. We have set out in the Potential Additional Fees section situations that may arise which would attract additional fees. We will of course notify you of any additional costs and disbursements before they are incurred.
Please note that if for any reason we are unable to proceed or you choose to close your matter after you have instructed us, you will still be charged for any work (including additional work) that we have carried out.
Preferential rates may apply to returning clients and those that are recommended to us by one of our business partners. Please contact us to find out more about any discounts that may be applicable.
Likely disbursements and recharges/ expenses (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process)
Potential Additional Disbursements
You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents for your purchase.
Other disbursements may apply depending on the terms of your Lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s solicitors.
Potential Additional Fees
We always provide clients with a fee estimate at the start of each new matter, therefore if you would like a bespoke estimate for your particular matter/ case please contact us to discuss.
If your case involves unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. You should be aware that additional fees will apply in the following situations:
|Acting for an additional lender|
|If your lender wishes for another legal representative to act for them|
|Administering Service Charge Retentions in leasehold matters|
|Administration Fees if you require your documents by post.|
|Approving a lease extension|
|Approval of a tenancy Agreement|
|Additional bank transfer costs (per transfer)|
|Administration fees for unpaid cheques|
|Administration costs for cheques stopped at client request|
|Completion required within 7 days of exchange of contracts|
|Dealing with share of freehold|
|Dealing with sitting tenants or occupiers|
|Dealing with third party lawyers, e.g. in a matrimonial dispute|
|Dealing with trust property|
|Deed of Covenant|
|Deed of Easement|
|Deed of Gift- per gift|
|Deed of Grant or variation|
|Deed of Guarantee|
|Drafting Statutory Declaration or Statement of Truth|
|File Retrieval after completion from storage|
|General Power of Attorney|
|Investigating bankruptcy Entry|
|Land Registry Restriction (each)|
|Leasehold Property supplement|
|Letter of Postponement or Deed of Postponement|
|Liaising with Trustee in Bankruptcy|
|Mutual Deed of Covenant for flying freehold|
|Obtaining Indemnity Insurance (each)|
|Purchase at an undervalue|
|Registration at Companies House|
|SDLT supplemental fee|
|Shared Equity/ Help to Buy|
|Simultaneous exchange and completion|
|Voluntary First Registration for a sale property|
VAT will be chargeable in addition on all fees quoted.
This list is not exhaustive, and if there are additional fees that you may incur we will inform you in advance. In addition to our legal fees for some items above you may incur an associated disbursement, such as additional Land Registry Fees, or Landlord Fees (if appropriate). We will inform you accordingly.