Conveyancing Fees
Your Legal Costs When Buying Or Selling A Property
Our Conveyancing Fees
Stachiw Bashir Green’s conveyancing team understand that buying or selling a property can be a complicated and sometimes stressful experience. We are available throughout the process to walk you through each step and make things as easy for you as possible. Our fees are clear and competitive and detailed below.
Speak to us today on: 01274 404010
Selling A Property
Sale Of A Residential Property
Our fees cover all of the work required to complete the sale of your new home, including dealing your mortgage or other charges registered on the property.
How long it will take from you accepting and offer will depend on a number of factors. The average process takes between 8 and 12 weeks.
It can be quicker or slower, depending on the parties in the chain and on whether the purchaser is depending on a mortgage.
The precise stages involved in the sale of a residential property vary according to the circumstances. It can also differ if the prioerty is solf freehold or leasehold.
Typically they include the following (LH indicates leasehold only steps):
- Taking your instructions and giving you initial advice
- Obtaining signed client care documentation
- Preparing draft contract and title documentation to send to the purchaser’s solicitors
- Contacting mortgage lender for redemption settlement
- Obtaining management pack from management company (LH)
- Responding to enquiries raised by the purchaser’s solicitors
- Sending management pack to purchasers’ solicitors (LH)
- Providing further documentation requested
- Sending documents for you to sign
- Agreeing completion date
- Agreeing apportionments of ground rent and service charges (LH)
- Exchanging contracts and notify you once this has happened
- Completing the sale on the date agreed
- Dealing with redeeming your mortgage
- Receiving confirmation of discharge of mortgage
Buying A Property
Purchase Of A Residential Property
Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty).
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8 and 12 weeks. 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such a situation additional charges would apply.
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website https://www.gov.uk/stamp-duty-land-tax
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out in the table of fees. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors, as they vary from property to property, but they can include:
- Notice of Transfer fee – This fee if chargeable is set out in the lease.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. Typically, they might include:
- Taking your instructions and give you initial advice
- Checking finances are in place to fund the purchase and contact the lender’s solicitors if needed
- Receiving and advising on contract documents
- Carrying out searches
- Obtaining further planning documentation if required
- Making any necessary enquiries of seller’s solicitor
- Giving you advice on all documents and information received
- Going through conditions of mortgage offer
- Sending final contract to you for signature
- Drafting Transfer (LH)
- Advising you on joint ownership (LH)
- Obtaining pre-completion searches (LH)
- Agreeing completion date (date from which you own the property)
- Exchanging contracts and notifying you that this has happened
- Arranging for all monies needed to be received from lender and you
- Completing purchase
- Dealing with payment of Stamp Duty/Land Tax
- Dealing with application for registration at Land Registry
Re-mortgaging A Property
Re-mortgage Of A Residential Property
Our fees cover all of the work required to complete your mortgage of your new home, including dealing with registration at the Land Registry.
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 4 and 8 weeks.
It can be quicker or slower, depending on your mortgage company.
The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. Typically, they include:
- Taking your instructions and give you initial advice
- Obtaining title documents
- Checking finances are in place for the purchase
- Checking mortgage offer and conditions
- Going through mortgage offer with you
- Obtaining signed documents
- Agreeing completion date
- Sending certificate of title to the lender for the funds
- Redeeming existing mortgage (if any)
- Sending the funds to you
- Registering lender’s charge
Conveyancing Fees Terms & Conditions
|
Legal Fee [i] excluding VAT |
Electronic Money Transfer excluding VAT |
Money Transfer Admin Fee excluding VAT |
Search Fees [ii] excluding VAT |
HMRC Stamp Duty Land Tax Fee excluding VAT |
Fee for completion of Stamp Duty Land Tax Return excluding VAT |
HM Land Registry Fee [iii] No VAT |
Fee for HM Land Registry Official Copies excluding VAT |
LMS Fee [iv] excluding VAT |
|
|
Re-Mortgage |
£395 |
£10 |
£20 |
0 |
0 |
0 |
£20-£500 |
Up to £10 |
£36 |
|
Gifted Transfer [v] |
£600 – £1050 |
0 |
0 |
0 |
0 |
0 |
£20-£500 |
||
|
Freehold Purchase |
£795 – £1500 |
£10 |
£20 |
£141 – £183.33 |
£10 |
£50 |
£20 – £500 |
Up to £8 |
£36 |
|
Freehold Sale |
£950 – £1950 |
£10 |
£20 |
0 |
0 |
0 |
0 |
Up to £10 |
|
|
Leasehold Purchase |
£945 – £1650 |
£10 |
£20 |
£202-£254 |
£10 |
£50 |
£20 – £500 |
Up to £8 |
£36 |
|
Leasehold Sale |
£1100 – £2100 |
£10 |
£20 |
0 |
0 |
0 |
0 |
Up to £8 |
|
|
: VAT is charged at 20%. Examples are set out below |
|||||||||
|
If legal fee is £395, |
£2* |
£4* |
If search fee |
£2* |
£10* |
If HMLR fee |
If fee is £8, VAT is |
£6* |
|
|
VAT is £79 |
is £141, VAT is £28.20 |
is £20, VAT is £4 |
£1.60 |
*This fee only applies to some transactions. Where the fee is shown as 0, the VAT is 0.
[i] Apart from remortgages, the legal fee depends on the value of the transaction, as set out below:
|
Transaction Type/ Value |
Up to £250,000 |
£250,001 – £500,000 |
£500,001 – £750,000 |
£750,001 or more |
|
Gifted Transfer |
£600 |
£750 |
£900 |
£1050 |
|
Freehold Purchase |
£795 |
£995 |
£1200 |
£1500 |
|
Leasehold Purchase |
£945 |
£1145 |
£1350 |
£1650 |
|
Freehold Sale |
£950 |
£1200 |
£1500 |
£1950 |
|
Leasehold Sale |
£1100 |
£1350 |
£1650 |
£2100 |
[ii] Search fees depend on which searches are required. They vary from property to property.
[iii] HM Land Registry fees are set by HM Land Registry and depend on the transaction value. They can be found here:
https://fee-calculator.landregistry.gov.uk/
[iv] Fees paid to LMS when you are purchasing with a mortgage. Mortgages with most major lenders go through LMS.
[v] With gifted transfers, there is an additional legal fee of £50 + VAT of £10 per person gifting the property.
With all of the variable fees, we will advise you at the outset of the fee which applies.
If you have been referred to us by Wilfred Leach & Co., Your Choice or MN Mortgage Finance, there will also be a referral fee of £100 (no VAT) which we will pay to the referrer.
The legal fees set out in the table assume that:
- it is a standard transaction and that no unforeseen matters 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 transactions, it is the assignment of an existing lease and is 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 in providing documents
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required
- if purchasing with a mortgage, the funds are being provided by a recognised first tier lender
Additional fees may apply if the transaction does not fit into the above categories. If that is the case, we will advise you.