Alderson Law

Residential Property Pricing

Residential Property Pricing

Costs for Residential Property – Purchase (Freehold)

How much will it cost?

In all cases where reference is made to VAT it is at a rate of 20%

Our costs range from £650 + VAT (£780 including VAT) for a freehold property priced at £100,000 up to £2,000 + VAT (£2400 including VAT) for a property priced at £1,500,000

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

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

Legal fee £650.00
VAT thereon £130.00
Stamp Duty £0
TT fee (including VAT) £36.00
Searches estimate (including VAT) £235.20
Land Registry final searches (including VAT) £8.40
Land Registry fee £40.00
Estimated Total £1117.60

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 £272.00 (£326.40 including VAT)
Solicitor £233 (£279.60 including VAT)
Paralegal £189.00 (£226.80 including VAT)

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 £196.00 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 12 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?

In all cases where reference is made to VAT it is at a rate of 20%

Our costs range from £800 + VAT (£960.00 including VAT) for the purchase of a leasehold property priced at £100,000 up to £2,200 + VAT (£2640) for a leasehold property priced at £1,500,000.

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

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

Legal fee £800.00
VAT thereon £160.00
Stamp Duty £0
TT fee (including VAT) £36.00
Searches estimate (including VAT) £235.20
Land Registry final searches (including VAT) £8.40
Land Registry fee £40.00
Estimated Total £1279.60

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 £272.00 (£326.40 including VAT)
Solicitor £233.00 (£279.60 including VAT)
Paralegal £189.00 (£226.80 including VAT)

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 £196.00 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 12 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?

In all cases where reference is made to Vat it is at a rate of 20%

Our costs are £550 + VAT (£660.00 including VAT) for a freehold property mortgage and £750 + VAT (£900 including VAT) for a leasehold property mortgage.

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

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

Legal fee £550.00
VAT thereon £110.00
Official Copies (including VAT) £10.80
TT fee (including VAT) £36.00
Searches estimate (including VAT) £235.20
Land Registry final searches (including VAT) £8.40
Land Registry fee £40.00
Estimated Total £970.40

*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 £272.00 plus VAT (£326.40 including VAT)
Solicitor £233.00 plus VAT (£279.60 including VAT)
Paralegal £189.00 plus VAT (£226.80 including VAT)

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 £193.80 and £324.60.

You should note that some searches are subject to VAT.

How long will it take?

On average most conveyancing re-mortgage transactions take around 8 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?

In all cases where reference is made to VAT it is at a rate of 20%

Our costs range from £650 + 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 per transfer

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

Legal fee £650.00
VAT thereon £130.00
Official Copies (including VAT) £10.80
TT fee (including VAT) £36.00
Estimated Total £826.80

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 £272.00 excluding VAT (£326.40 including VAT)
Solicitor £233.00 excluding VAT (£279.60 including VAT)
Paralegal £189.00 excluding VAT (£226.80 including VAT)

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 exclusive of VAT.

How long will it take?

On average most conveyancing transactions take around 12 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your buyers search results and mortgage offer to be received.

Costs for Residential Property – Sale (Leasehold)

How much will it cost?

In all cases where reference is made to VAT it is at a rate of 20%

Our costs range from £850 + 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 per transfer

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

Legal fee £850.00
VAT thereon £170.00
Official Copies (including VAT) £10.80
TT fee (including VAT) £36.00
Estimated Total £1066.80

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 £272.00 excluding VAT (£326.40 including VAT)
Solicitor £233.00 excluding VAT (£279.60 including VAT)
Paralegal £189.00 excluding VAT (£226.80 including VAT)

Our basic fee as set out above includes the following work in dealing with a routine leasehold sale 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 redemption monies to your lender and any sale proceeds to you. The charge is currently £30 plus VAT per transfer.

Title

Obtaining official copies of the title to the property and any other supporting documents. These typically cost £3 per document excluding 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 12 weeks however this can vary depending on various factors such as the length of the chain involved, how long it takes for your buyers search results and mortgage offer to be received.

Who will carry out the work for me?

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

Tracey Murray
Tracey Murray is a Solicitor and Partner in the Firm. Tracey is a Graduate of the University of Newcastle upon Tyne and has been qualified as a Solicitor since 1997.

Julie Farrell-Knowles
Julie Farrell-Knowles is a graduate of Northumbria University LLB Exempting (Hons) Degree and has been a qualified Solicitor for over 20 years specialising in property matters.

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

Contact Us

Telephone Blyth: 

01670 352293

Telephone Morpeth:

01670 519714

Telephone Whitley Bay:

0191 2533509

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Alderson Law LLP is a Limited Liability Partnership registered in England and Wales under company number OC307338.
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Mary was born and has lived all her life in the North East of England. Her first interest was science and she originally studied Biomedical Science at Northumbria and worked in the scientific research field and the NHS, before studying part time, again at Northumbria University, to obtain her degree in Law. Since then she has enjoyed a varied career covering many different areas of law, before specialising in Children Law, which she has done almost exclusively for the past 5 years.

Mary loves reading and history and at a weekend can often be found at one of the many historical sites the North East has to offer and has even been known to play video games when she can find the time.

Chris was originally a Fellow of the Institute of Legal Executives from 1997 and qualified as a Solicitor in 2001.

He has over 25 years experience in private client work comprising Wills, Trusts, Probate, Powers of Attorney and other Court of Protection Work such as Deputyship applications. Chris has been a Partner in several firms in the North East, being Head of Wills, Trusts and Probate.

He brings a wealth of experience to his role and works closely with clients, providing them with a service tailored to their needs

Susan was born and bred in the North East, spending all of her working life in Blyth. She qualified in 1981 and, after some years at Alderson Law, began to specialise in family law, covering both private and legal aid. Susan was a member of the Law Society Family Panel and an accredited Resolution specialist, specialising particularly in private children law and domestic violence.

Susan took part-retirement in December 2018 but still works as a Solicitor here at Alderson Law. Outside of work she enjoys cooking, walking, reading, and spending time with her family. She has also been a Brownie leader for over 40 years.

Originally from East Yorkshire, Jasmine moved to the North East in 2012 to study at Northumbria University undertaking the M Law Exempting (BPTC) course (the only undergraduate course in England and Wales which incorporates the Bar Professional Training Course), graduating in 2016 with a First Class Honours and a Very Competent in the Bar Professional Training Course. Prior to joining Alderson Law Jasmine specialised in RTA Fraud in a Personal Injury firm, before moving to another firm to work as a Family Law Paralegal.

In 2018 she joined our team as a Family Law Paralegal and before qualifying as a Solicitor within the Family Law Department based at our Morpeth office. Jasmine represents clients in a wide range of matters including; divorce and matrimonial finance, disputes regarding the arrangements for children as well as parents who are subject to Local Authority involvement both before and during Court proceedings.

In her spare time Jasmine likes visiting the beach, going to the gym, watching live music and looking after her pet rabbit.

Julie is a highly experienced property solicitor. She studied Law at Northumbria University and, after qualifying in 2000, went on to work at national and international firms prior to joining the team at Alderson Law in 2017. She works alongside her clients, advising on residential and commercial property development, property investment, portfolio management, property finance, landlord and tenant, easements and restrictive covenants.

Fiona is a specialist private client lawyer providing advice and assistance with wills, trusts, tax planning, probate & estate administration, lasting powers of attorney, court of protection and elderly client work. Having previously worked with a number of Newcastle-based firms listed in The Legal 500, Fiona brings a wealth of experience and expertise to the role. She is a full member of STEP (Society of Trust and Estate Practitioners), the association for specialists in family inheritance and succession planning.

Fiona grew up in Northern Ireland and studied law at Durham University, and has remained in the North East ever since. She enjoys spending time with her family at their cottage in Northumberland.

Mark Hipkin, partner at Alderson Law LLP, has been advising businesses and claimants since he qualified as a solicitor in 1982.

Mark’s passion is for representing claimants on two wheels in complex, serious and catastrophic motorcycle, scooter and cycle injuries, but he also has extensive experience of acting for claimants in many other personal injury areas including occupiers and public liability work and accidents at work. He specialises in challenging and complex cases. Mark always puts the client first, looking from the first day of instruction to obtain the best and fairest outcome for a claimant, no matter how long a case may take. He is a fan of Alternative Dispute Resolution (ADR) and early neutral valuation as alternatives to litigation. Sometimes, however, litigation is the best option, together with the necessary drive to see every matter through to a fair conclusion.

Mark also, having started his own business, advises business clients, often with motorcycle-, scooter- or cycle-related businesses and also deals with complex commercial disputes, professional negligence cases, and general civil litigation.

Mark likes to spend what free time he has with his family and practising Tai Chi and Tang Soo Do (Korean Karate – in which he is a second Dan).

Having worked in family law for over 25 years, Julie is a highly accomplished specialist in her field. She has a vast body of experience in dealing with family law, from divorce and related financial issues to complex child-related cases. Julie was the first person in North Tyneside to achieve the status of an accredited advanced family law specialist, and is a member of the Law Society Advanced Family Panel, which demonstrates her experience in complex contested family cases and other subject-specific matters.

Though multi-talented and highly experienced, Julie’s particular speciality is in complex ancillary relief (financial settlement) claims and complex residence and contact disputes.

In her spare time Julie enjoys relaxing and spending time with her family and three grandchildren. She attends clients at our Whitley Bay and Blyth offices.

Tracey is one of our Partners and qualified as a solicitor in 1997. Throughout her career she has had a varied caseload undertaking matters in most areas of civil and private client law. Tracey can assist clients in a wide range of matters including: Wills, Probate, Powers of Attorney, Debt Recovery, Residential and Commercial Conveyancing as well as Licensing and Landlord and Tenant matters.

Tracey is one of our most senior practitioners with over 20 years of local experience, having graduated from both Newcastle University and Northumbria University. When not in the office she enjoys walking, cycling, and cooking with her family.