Residential Property Pricing

Costs for Residential Property – Purchase (Freehold)

How much will it cost?

Our costs range from £420 + VAT for a freehold property priced at £100,000 up to £2,000 + VAT for a property priced at £1,500,000

Our bank transfer fee for a same day transfer is £30 + VAT

An example quote for a property being purchased at £100,000 is set out below:-

Legal fee VAT thereon Stamp Duty TT fee (including VAT) Searches estimate Land Registry final searches Land Registry fee Estimated total
£420.00 £84.00 £0 £36 £174.60 £7 £80 £801.60

Occasionally it may be necessary to agree an hourly rate with you rather than providing a fixed fee.  This will only happen if we cannot provide you with an accurate estimate of our costs.  Our current hourly rates are set out below:-

Partner                                £220.00

Solicitor                              £190.00

Paralegal                            £155.00

Our basic fee as set out above includes the following work in dealing with a routine freehold purchase where we act on behalf of you and your mortgage lender:-

  • Obtaining your instructions and complying with our client due diligence requirements
  • Raising enquiries with the Seller’s Solicitor and investigating title to the property
  • Obtaining searches in order to comply with mortgage lender requirements and your instructions
  • Reviewing the Seller’s Contract for sale and approving the same and drafting the Transfer
  • Reporting to you on the property title, Contract, searches and mortgage terms and reporting to your mortgage lender
  • Exchanging contracts and completing your purchase
  • Submitting your SDLT Return and application to the Land Registry and responding to any requisitions which they may raise
  • Following completion of registration at the Land Registry, providing you with a copy of the updated title information and sending necessary documents to your mortgage lender

When might the costs change?

We have set out below some potential additional charges which may come to light once paperwork has been received from the Seller’s Solicitor:-

  • If the title is unregistered
  • If a certificate of compliance for a restriction on the title is required
  • If the title to the property is defective
  • If you are purchasing using the Help to Buy Scheme or your funding arrangements are complex
  • If the property is being purchased at auction
  • If the property is a new build or is being transferred out of part of an existing title
  • If your mortgage lender instructs a separate Solicitor to act on their behalf
  • If you are purchasing from a Mortgagee in Possession where there are tight deadlines to meet

Typical disbursements on your purchase

Stamp Duty

Please refer to HMRC for appropriate rates.

Land Registry fees

HMLR sets out their fees on their website.  They do not include VAT.

Searches

The cost of searches can vary depending on the size and location of the property.  Each search provider will charge a fee for providing their service.  The cost of these searches is likely to be between £174.60 and £324.60.

You should note that some searches are subject to VAT.

How long will it take?

On average most conveyancing transactions take around 6 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your search results and mortgage offer to be received.

Costs for Residential Property – Purchase (Leasehold)

How much will it cost?

Our costs range from £550 + VAT for the purchase of a leasehold property priced at £100,000 up to £2,200 + VAT for a leasehold property priced at £1,500,000.

Our bank transfer fee for a same day transfer is £30 + VAT

An example quote for the purchase of a Tyneside flat for £100,000 is set out below:-

Legal fee VAT thereon Stamp Duty TT fee (including VAT) Searches estimate Land Registry final searches Land Registry fee Estimated total
£550.00 £110.00 £0 £36 £174.60 £7 £80 £957.60

Occasionally it may be necessary to agree an hourly rate with you rather than providing a fixed fee.  This will only happen if we cannot provide you with an accurate estimate of our costs.  Our current hourly rates are set out below:-

Partner                                £220.00

Solicitor                              £190.00

Paralegal                            £155.00

Our basic fee as set out above includes the following work in dealing with a routine freehold purchase where we act on behalf of you and your mortgage lender:-

  • Obtaining your instructions and complying with our client due diligence requirements
  • Raising enquiries with the Seller’s Solicitor and investigating title to the property
  • Obtaining searches in order to comply with mortgage lender requirements and your instructions
  • Reviewing the Seller’s Contract for sale and approving the same and drafting the Transfer
  • Reporting to you on the property title, Contract, searches and mortgage terms and reporting to your mortgage lender
  • Exchanging contracts and completing your purchase
  • Submitting your SDLT Return and application to the Land Registry and responding to any requisitions which they may raise
  • Following completion of registration at the Land Registry, providing you with a copy of the updated title information and sending necessary documents to your mortgage lender

When might the costs change?

We have set out below some potential additional charges which may come to light once paperwork has been received from the Seller’s Solicitor:-

  • If the title is unregistered
  • If a certificate of compliance for a restriction on the title is required
  • If the title to the property is defective
  • If you are purchasing using the Help to Buy Scheme or your funding arrangements are complex
  • If the property is being purchased at auction
  • If the property is a new build or is being transferred out of part of an existing title
  • If your mortgage lender instructs a separate Solicitor to act on their behalf
  • If you are purchasing from a Mortgagee in Possession where there are tight deadlines to meet
  • If the Lease needs to be extended or a Deed of Variation is required or the freehold is purchased
  • If there is an intermediary leasehold title

Typical disbursements on your purchase

Stamp Duty

Please refer to HMRC for appropriate rates.

Land Registry fees

HMLR sets out their fees on their website.  They do not include VAT.

Searches

The cost of searches can vary depending on the size and location of the property.  Each search provider will charge a fee for providing their service.  The cost of these searches is likely to be between £174.60 and £324.60.

You should note that some searches are subject to VAT.

Other disbursements

When you are purchasing a leasehold property there are usually additional charges which need to be paid to third parties.  We cannot advise you of the cost of these as they depend on each transaction however they are likely to include the following:-

  • Notice of Transfer/charge
  • Share Certificate costs
  • Deed of Covenant
  • Certificate of Compliance

These charges may or may not be subject to VAT and could be in the region of £250.00.

How long will it take?

On average most conveyancing transactions take around 6 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your search results and mortgage offer to be received.

Costs for Residential Property – Remortgage

How much will it cost?

Our costs range from £350 + VAT for a freehold property mortgage of £100,000 and up to £750 + VAT for a freehold property mortgage of £1,500,000.

Our fees for dealing with the remortgage of a leasehold property range from £450 for a mortgage of £100,000 to £850 for a mortgage of £1,500,000.

Our bank transfer fee for a same day transfer is £30 + VAT

An example quote for a freehold property being remortgaged at £100,000 is set out below:-

Legal fee VAT thereon Official Copies TT fee (including VAT) Searches estimate* Land Registry final searches Land Registry fee Estimated total
£350.00 £70.00 £9 £36 £174.60 £7 £80 £726.60

*Your lender may or may not require full searches to be carried out.  They may be happy to proceed on the basis of a search indemnity policy which is likely to be obtained for a lower amount.

Occasionally it may be necessary to agree an hourly rate with you rather than providing a fixed fee.  This will only happen if we cannot provide you with an accurate estimate of our costs.  Our current hourly rates are set out below:-

Partner                                £220.00

Solicitor                              £190.00

Paralegal                            £155.00

Our basic fee as set out above includes the following work in dealing with a routine freehold purchase where we act on behalf of you and your mortgage lender:-

  • Obtaining your instructions and complying with our client due diligence requirements
  • Obtaining searches in order to comply with mortgage lender requirements and your instructions
  • Obtaining a redemption statement from your current lender
  • Reporting to your mortgage lender
  • Dealing with the removal of any charge against the property
  • Submitting an application to the Land Registry and responding to any requisitions they may raise
  • Following completion of registration at the Land Registry, providing you with a copy of the updated title information and sending necessary documents to your mortgage lender

When might the costs change?

We have set out below some potential additional charges which may come to light once paperwork has been received from the Seller’s Solicitor:-

  • If the title is unregistered
  • If the title to the property is defective
  • If we need to redeem a Help to Buy loan
  • If we need to correspond with a Management Company
  • If you have not obtained the required consents for alteration works to the property
  • If you are mortgaging only part of your property
  • If we need to obtain a compliance certificate in relation to a restriction registered against your property
  • If it is a complex loan and your mortgage lender requires us to do more than submit our Certificate of Title to them
  • If your mortgage lender instructs a separate Solicitor to act on their behalf

Typical disbursements on your remortgage

Land Registry fees

HMLR sets out their fees on their website.  They do not include VAT.

Searches

The cost of searches can vary depending on the size and location of the property.  Each search provider will charge a fee for providing their service.  The cost of these searches is likely to be between £174.60 and £324.60.

You should note that some searches are subject to VAT.

How long will it take?

On average most conveyancing transactions take around 4 weeks however this can vary depending on various factors such how long it takes for your search results and mortgage offer to be received.

Costs for Residential Property – Sale (Freehold)

How much will it cost?

Our costs range from £420 + VAT for a freehold property priced at £100,000 up to £2,000 + VAT for a property priced at £1,500,000

Our bank transfer fee for a same day transfer is £30 + VAT

An example quote for a property being purchased at £100,000 is set out below:-

Legal fee VAT thereon Official copies TT fee (including VAT) Estimated total
£420.00 £84.00 £9 £36 £549.00

Occasionally it may be necessary to agree an hourly rate with you rather than providing a fixed fee.  This will only happen if we cannot provide you with an accurate estimate of our costs.  Our current hourly rates are set out below:-

Partner                                £220.00

Solicitor                              £190.00

Paralegal                            £155.00

Our basic fee as set out above includes the following work in dealing with a routine freehold purchase where we act on behalf of you and your mortgage lender:-

  • Obtaining your instructions and complying with our client due diligence requirements
  • Obtaining title to the property to send to the Buyer’s Solicitor
  • Drafting a Contract for sale and approving the Buyer’s draft Transfer
  • Reporting to you on the Contract and Transfer and enquiries raised by the Buyer’s Solicitor and send responses to them
  • Obtaining a redemption statement from your current mortgage lender
  • Exchanging contracts and completing your sale
  • Dealing with the removal of any charge against the property

When might the costs change?

We have set out below some potential additional charges which may come to light once paperwork has been received:-

  • If the title is unregistered
  • If a certificate of compliance for a restriction on the title is required
  • If the title to the property is defective
  • If the property is being sold at auction
  • If your mortgage lender instructs a separate Solicitor to act on their behalf
  • Additional costs may also be incurred if we have to obtain consent for alterations which have been carried out without the appropriate approvals.

Typical disbursements on your sale

Title

Obtaining official copies of the title to the property and any other supporting documents.  These typically cost £3 per document and are not subject to VAT.

How long will it take?

On average most conveyancing transactions take around 6 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your search results and mortgage offer to be received.

Costs for Residential Property – Sale (Leasehold)

How much will it cost?

Our costs range from £550 + VAT for a leasehold property priced at £100,000 up to £2,000 + VAT for a property priced at £2,200,000

Our bank transfer fee for a same day transfer is £30 + VAT

An example quote for a Tyneside flat being sold at £100,000 is set out below:-

Legal fee VAT thereon Official copies TT fee (including VAT) Estimated total
£550.00 £110.00 £9 £36 £705.00

Occasionally it may be necessary to agree an hourly rate with you rather than providing a fixed fee.  This will only happen if we cannot provide you with an accurate estimate of our costs.  Our current hourly rates are set out below:-

Partner                                £220.00

Solicitor                              £190.00

Paralegal                            £155.00

Our basic fee as set out above includes the following work in dealing with a routine freehold purchase where we act on behalf of you and your mortgage lender:-

  • Obtaining your instructions and complying with our client due diligence requirements
  • Obtaining title to the property to send to the Buyer’s Solicitor
  • Drafting a Contract for sale and approving the Buyer’s draft Transfer
  • Reporting to you on the Contract and Transfer and enquiries raised by the Buyer’s Solicitor and send responses to them
  • Obtaining a redemption statement from your current mortgage lender
  • Exchanging contracts and completing your sale
  • Dealing with the removal of any charge against the property

When might the costs change?

We have set out below some potential additional charges which may come to light once paperwork has been received:-

  • If the title is unregistered
  • If a certificate of compliance for a restriction on the title is required
  • If the title to the property is defective
  • If the property is being sold at auction
  • If your mortgage lender instructs a separate Solicitor to act on their behalf
  • Additional costs may also be incurred if we have to obtain consent for alterations which have been carried out without the appropriate approvals.

Typical disbursements on your sale

Bank Transfer Fee

This is a change levied by this firm for transferring your completion monies to the Seller’s Solicitor.  The charge is currently £30 plus VAT.

Title

Obtaining official copies of the title to the property and any other supporting documents.  These typically cost £3 per document and are not subject to VAT.

Additional disbursements

The sale of a leasehold property usually involves additional charges which are payable to third parties such as a freeholder or a management company.  These include the management pack and consents.  Costs can vary depending on the freeholder and management company but they typically range from £100-£400 and may or may not be liable to VAT.

How long will it take?

On average most conveyancing transactions take around 6 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your search results and mortgage offer to be received.

Who will carry out the work for me?

Susan Heron

Susan Heron is a Conveyancing Executive and has over 25 years of experience in dealing with residential conveyancing.

Gillian Fawcett

Gillian Fawcett is a Conveyancing Executive and has over 35 years of experience in dealing with residential conveyancing.

Alan Matthewson

Alan is a Legal Executive and an experienced Conveyancer who has been involved in the North East property market for over 30 years.

Karen Prudhoe

Karen has spent 17 years working in the legal field, originally in Family Law and now for the past four years in Residential Conveyancing. She is experienced in the full range of transactions involved in buying and selling residential property.

Supervisors

Regardless of who is acting on your behalf, they will be supervised by Julie Farrell-Knowles and Tracey Murray.

Tracey Murray

Tracey completed her training with the Practice, qualifying in 1997 and is now a Partner with the firm.

Julie Farrell Knowles

Julie Farrell-Knowles is a graduate of Northumbria University LLB Exempting (Hons) Degree and has been a qualified Solicitor for over 18 years specialising in property matters.