Property Team Pricing & Examples

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 £800.00VAT 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

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

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?

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 £550.00VAT 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.

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

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

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?

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

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?

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.

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