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6th December 2018

Conveyancing Fees

In a competitive maket you want to be sure you are getting the best value for money alongside strategic legal advice for your property transaction.

 

We pride ourselves on being transparent and thorough with our fees. Our estimations will detail anticipated areas of work and associated costs for a straightforward transaction. For a more accurate fee estimation based on full details please contact our Property Law Team on Tel: 01256 305516

 

We trust that this gives you reassurance in instructing us and we look forward to working together in all your Property needs.

 

To give you an indication of costs, please see below:

 

Freehold Purchase

 

Scope of work: The precise stages and timescales involved in your purchase will vary depending on circumstances/factors.

 

In general the process includes .

 

Taking your instructions and giving initial advice, checking finances are in hand to fund the purchase, receiving and advising on contract and title documents, carrying out searches, obtaining further documentation if required, making enquiries of the seller’s solicitors, advising on documents and information received, going through conditions of mortgage offer, advising on ownership and obtaining instructions, complying with mortgage instructions, sending final contracts out, drafting required transfer document, exchanging contracts with agreed completion date, obtaining pre-completion search results, arranging monies to be in place from both yourself and/or your high street lender, arranging completion monies to be transferred, completing the purchase, dealing with the payment of Stamp Duty Land Tax/Land Transaction Tax and dealing with registration application to Land Registry.

 

Timescale: The general timescale for a straightforward freehold registered property purchase from receipt of a full draft Contract Pack to exchange/completion is between 6-10 weeks.

 

Fees

 

Legal Fees based on the purchase of one registered Title by an individual(s) with funding from one High Street Lender from start to Completion including dealing with registration at the Land Registry and payment of Stamp Duty Land Tax if the property is in England or Land Transaction Tax if the property is in Wales.

If Purchase Price £0.00 – £200,000.00: £795.00 plus VAT

If Purchase Price £200,001.00 – £300,000.00: £895.00 plus VAT

If Purchase Price £300,001.00 – £400,000.00: £995.00 plus VAT

If Purchase Price £400,001.00 – £500,000.00: £1,095.00 plus VAT

If Purchase Price above £500,001.00: Legal fees would be 0.25% plus VAT of the Purchase Price.

 
  • Arranging ID Verification Check: £10.00 plus VAT per name
  • Arranging Electronic Money Transfer: £40.00 plus VAT per transfer
  • File/Document Storage fee: £25.00 plus VAT
 

Total Legal Fees based on the purchase of one registered Title by one individual with funding from a High Street Lender and no gift of money from anyone nor any funding from any Government help to buy scheme/product:

If Purchase Price £0.00 – £200,000.00: £870.00 plus VAT

If Purchase Price £200,001.00 – £300,000.00: £970.00 plus VAT

If Purchase Price £300,001.00 – £400,000.00: £1,070.00 plus VAT

If Purchase Price £400,001.00 – £500,000.00: £1,170.00 plus VAT

If Purchase Price above £500,001.00: Legal fees would be 0.25% plus VAT of the Purchase Price plus £75.00 plus VAT

 

Disbursements (these are costs related to your matter payable to third parties which we handle on your behalf to ensure a smoother process) based on the purchase of one registered Title

Stamp Duty Land Tax (if the property is located in England) or Land Tax (if the property is located in Wales) will depend on the purchase price of the property as well as your individual circumstances. You can calculate the amount you will need to pay by using HMRC’s website or the Welsh Revenue Authority website, as applicable:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

https://beta.gov.wales/land-transaction-tax-calculator

HM Land Registry Fees will depend on the purchase price of the property. You can calculate the amount you will need to pay by using HM Land Registry’s website.

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

 
  • Local Search Fee: This is dependent upon where the property being purchased is located as each Local Authority has its own charge. You should be able to ascertain the Local Authority’s cost by visiting its website. These can range from £50 to £400, dependent upon the Local Authority.
 
  • Environmental, Chancel, Water & Drainage Search fees: £140.00 inc VAT estimated as dependent upon search provider’s charges at the time.
 
  • Land Registry Search fee – £3.00 per registered Title.
 
  • Bankruptcy Search fee – £2.00 per name.
 
  • If your lender is part of the LMS System – £10.00 plus VAT

Leasehold Purchase

Scope of work: The precise stages and timescales involved in your purchase will vary depending on circumstances/factors.

In general the process includes .

Taking your instructions and giving initial advice, checking finances are in hand to fund the purchase, receiving and advising on contract and title documents, carrying out searches, obtaining further documentation if required, making enquiries of the seller’s solicitors, advising on documents and information received, going through conditions of mortgage offer, advising on ownership and obtaining instructions, complying with mortgage instructions, sending final contracts out, drafting required transfer document, exchanging contracts with agreed completion date, obtaining pre-completion search results, arranging monies to be in place from both yourself and/or your high street lender, arranging completion monies to be transferred, completing the purchase, dealing with the payment of Stamp Duty Land Tax/Land Transaction Tax and dealing with registration application to Land Registry.

Timescale: The general timescale for a straightforward leasehold registered property purchase from receipt of a full draft Contract Pack including all Landlord/Managing Agent/Management Company information/documents to exchange/completion is between 8-12 weeks.

 

Please note that if you are buying a leasehold property that requires an extension of the term of years or variation etc then the timescale will be significantly longer and additional costs would apply.

 

Fees

 

Legal Fees based on the purchase of one registered Title by an individual(s) with funding from one High Street Lender from start to Completion including dealing with registration at the Land Registry and payment of Stamp Duty Land Tax if the property is in England or Land Transaction Tax if the property is in Wales

If Purchase Price £0.00 – £200,000.00: £895.00 plus VAT

If Purchase Price £200,001.00 – £300,000.00: £995.00 plus VAT

If Purchase Price £300,001.00 – £400,000.00: £1,095.00 plus VAT

If Purchase Price £400,001.00 – £500,000.00: £1,195.00 plus VAT

If Purchase Price above £500,001.00: Legal fees would be 0.3% plus VAT of the Purchase Price.

 

Arranging ID Verification Check: £10.00 plus VAT per name

 

Arranging Electronic Money Transfer: £40.00 plus VAT per transfer

 

File/Document Storage fee: £25.00 plus VAT

 

Total Legal Fees based on the purchase of one registered Title by one individual with funding from a High Street Lender and no gift of money from anyone nor any funding from any Government help to buy scheme/product

If Purchase Price £0.00 – £200,000.00: £970.00 plus VAT

If Purchase Price £200,001.00 – £300,000.00: £1,070.00 plus VAT

If Purchase Price £300,001.00 – £400,000.00: £1,170.00 plus VAT

If Purchase Price £400,001.00 – £500,000.00: £1,270.00 plus VAT

If Purchase Price above £500,001.00: Legal fees would be 0.3% plus VAT of the Purchase Price plus £75.00 plus VAT

 

Disbursements (these are costs related to your matter payable to third parties which we handle on your behalf to ensure a smoother process) based on the purchase of one registered Title

 

Stamp Duty Land Tax (if the property is located in England) or Land Tax (if the property is located in Wales) will depend on the purchase price of the property as well as your individual circumstances. You can calculate the amount you will need to pay by using HMRC’s website or the Welsh Revenue Authority website, as applicable:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

https://beta.gov.wales/land-transaction-tax-calculator

HM Land Registry Fees will depend on the purchase price of the property. You can calculate the amount you will need to pay by using HM Land Registry’s website.

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

 
  • Local Search Fee: This is dependent upon where the property being purchased is located as each Local Authority has its own charge. You should be able to ascertain the Local Authority’s cost by visiting its website. These can range from £50 to £400, dependent upon the Local Authority
  • Environmental, Chancel, Water & Drainage Search fees: £140.00 inc VAT estimated as dependent upon search provider’s charges at the time
  • Land Registry Search fee – £3.00 per registered Title
  • Bankruptcy Search fee – £2.00 per name
  • If your lender is part of the LMS System – £10.00 plus VAT
 

There are certain disbursements which will no doubt be required as set out in the lease for the property as well as in the Landlord/Managing Agent/Management Company information/documents. Typical disbursements in this regard are set out below however, please note that this is not exhaustive and we can only inform you of the same once known:

  • Landlord/Managing Agent/Management Company Notice of Transfer Fee – Often between £100.00 – £200.00 inc VAT
  • Landlord/Managing Agent/Management Company Notice of Charge Fee – Often between £100.00 – £200.00 inc VAT
  • Landlord/Managing Agent/Management Company Deed of Covenant Fee – Often between £100.00 – £200.00 inc VAT
  • Landlord/Managing Agent/Management Company Certificate of Compliance Fee – Often between £100.00 – £200.00 inc VAT
 

Such disbursements vary from property to property and can on occasion be significantly more than the ranges given above.

 

You should also be aware that Ground Rent and Service Charges are likely to apply throughout your ownership of the property and we can only inform you of the same once known.

     

Freehold Sale

Scope of work: The precise stages and timescales involved in your sale will vary depending on circumstances/factors.

 

In general the process includes:

 

Taking your instructions and giving initial advice, checking your ability and capacity to sell, obtaining the required Title documents and reviewing the same, drafting the contract, preparing required protocol forms, obtaining further documentation if required, dealing with the buyer’s solicitors enquiries, obtaining required mortgage redemption statement, complying with secured lender’s instructions, sending final contracts out, approving draft transfer document, exchanging contracts with agreed completion date, obtaining required figures/statements/invoices, arranging transfer of monies, completing the sale, dealing with redemption of mortgage, accounting to you

 

Timescale: The general timescale for a straightforward freehold registered property sale from instruction to exchange/completion is between 6-10 weeks.

 

Fees

 

Legal Fees based on the sale of one registered Title with an existing secured charge in favour of one High Street Lender from start to Completion including dealing with discharge of such registered charge

If Sale Price £0.00 – £200,000.00: £695.00 plus VAT

If Sale Price £200,001.00 – £300,000.00: £795.00 plus VAT

If Sale Price £300,001.00 – £400,000.00: £895.00 plus VAT

If Sale Price £400,001.00 – £500,000.00: £995.00 plus VAT

If Sale Price above £500,001.00: Legal fees would be 0.2% plus VAT of the Sale Price

Arranging ID Verification Check: £10.00 plus VAT per name

Arranging Electronic Money Transfer: £40.00 plus VAT per transfer

File/Document Storage fee: £25.00 plus VAT

 

Total Legal Fees based on the sale of one registered Title by one individual with secured charge in favour of a High Street Lender:

If Sale Price £0.00 – £200,000.00: £770.00 plus VAT

If Sale Price £200,001.00 – £300,000.00: £870.00 plus VAT

If Sale Price £300,001.00 – £400,000.00: £970.00 plus VAT

If Sale Price £400,001.00 – £500,000.00: £1,070.00 plus VAT

If Sale Price above £500,001.00: Legal fees would be 0.2% plus VAT of the Sale Price plus £75.00 plus VAT

 

Disbursements (these are costs related to your matter payable to third parties which we handle on your behalf to ensure a smoother process) based on the sale of one registered Title

 

HM Land Registry Fees will depend on the registered entries on your Title of the property. You can calculate the amount you will need to pay by using HM Land Registry’s website

https://www.gov.uk/guidance/hm-land-registry-information-services-fees

 

The minimum Land Registry fee involved is currently £6.00.

 

Each required document from HM Land Registry is currently £3.00 per document

 

Bankruptcy Search fee – £2.00 per name

   

Leasehold Sale

Scope of work: The precise stages and timescales involved in your sale will vary depending on circumstances/factors.

In general the process includes:

 

Taking your instructions and giving initial advice, checking your ability and capacity to sell, obtaining the required Title documents and reviewing the same, drafting the contract, preparing required protocol forms, obtaining further documentation if required, obtaining the Landlord/Managing Agent/Management Company required Pack/leasehold property enquiry replies, dealing with the buyer’s solicitors enquiries, obtaining required mortgage redemption statement, complying with secured lender’s instructions, sending final contracts out, approving draft transfer document, exchanging contracts with agreed completion date, obtaining required figures/statements/invoices, dealing with apportionment of Ground Rent and Service Charges as at the Completion Date, arranging transfer of monies, completing the sale, dealing with redemption of mortgage, accounting to you

 

Timescale: The general timescale for a straightforward freehold registered property sale from instruction to exchange/completion is between 8-12 weeks.

 

Fees

 

Legal Fees based on the sale of one registered Title with an existing secured charge in favour of one High Street Lender from start to Completion including dealing with discharge of such registered charge

If Sale Price £0.00 – £200,000.00: £795.00 plus VAT

If Sale Price £200,001.00 – £300,000.00: £895.00 plus VAT

If Sale Price £300,001.00 – £400,000.00: £995.00 plus VAT

If Sale Price £400,001.00 – £500,000.00: £1,095.00 plus VAT

If Sale Price above £500,001.00: Legal fees would be 0.25% plus VAT of the Sale Price

Arranging ID Verification Check: £10.00 plus VAT per name

Arranging Electronic Money Transfer: £40.00 plus VAT per transfer

File/Document Storage fee: £25.00 plus VAT

 

Total Legal Fees based on the sale of one registered Title by one individual with secured charge in favour of a High Street Lender

If Sale Price £0.00 – £200,000.00: £870.00 plus VAT

If Sale Price £200,001.00 – £300,000.00: £970.00 plus VAT

If Sale Price £300,001.00 – £400,000.00: £1,070.00 plus VAT

If Sale Price £400,001.00 – £500,000.00: £1,170.00 plus VAT

If Sale Price above £500,001.00: Legal fees would be 0.25% plus VAT of the Sale Price plus £75.00 plus VAT

 

Disbursements (these are costs related to your matter payable to third parties which we handle on your behalf to ensure a smoother process) based on the sale of one registered Title

HM Land Registry Fees will depend on the registered entries on your Title of the property. You can calculate the amount you will need to pay by using HM Land Registry’s website

https://www.gov.uk/guidance/hm-land-registry-information-services-fees

 

The minimum Land Registry fee involved is currently £12.00.

Each required document from HM Land Registry is currently £3.00 per document

Bankruptcy Search fee – £2.00 per name

 

There are certain disbursements which will no doubt be required given the required Landlord/Managing Agent/Management Company information/documents. Typical disbursements in this regard are set out below however, please note that this is not exhaustive and we can only inform you of the same once known:

 
  • Landlord/Managing Agent/Management Company Information/Documents – Often between £250.00 – £500.00 inc VAT
  • Landlord/Managing Agent/Management Company Deed of Covenant Fee – Often between £100.00 – £200.00 inc VAT
 

Such disbursements vary from property to property and can on occasion be significantly more than the ranges given above.

 

Please note that if the Buyer’s Solicitors require a Retention to be held then there would be additional costs in this regard, estimated between £100.00 – £200.00 plus VAT.

 

Mortgage / Re-Mortgage

 

Scope of work: The precise stages and timescales involved in your mortgage or re-mortgage transaction will vary depending on circumstances/factors.

 

In general the process includes:

Taking your instructions and giving initial advice, checking your ability and capacity to mortgage/remortgage, obtaining the required Title documents and reviewing, checking finances are in hand, carrying out searches, obtaining further documentation if required, going through conditions of mortgage offer, complying with mortgage instructions, obtaining required mortgage redemption statement, complying with secured lender’s instructions, obtaining pre-completion search results, obtaining required figures/statements, arranging monies to be in place from both yourself and/or your high street lender, completing the mortgage/remortgage, dealing with redemption of mortgage and dealing with registration application to Land Registry

 

Please note that if the property comprises a leasehold property details would need to be obtained from the Landlord/Managing Agent/Management Company.

 

Timescale: The general timescale for a straightforward freehold registered mortgage/remortgage from receipt of a formal Mortgage Offer to Completion is between 3-6 weeks

 

Fees

 

Legal Fees based on a mortgage/remortage of one registered Freehold Title with funding from one High Street Lender from start to Completion including dealing with registration at the Land Registry

If Value of Property £0.00 – £200,000.00: £395.00 plus VAT

If Value of Property £200,001.00 – £300,000.00: £450.00 plus VAT

If Value of Property £300,001.00 – £400,000.00: £495.00 plus VAT

If Value of Property £400,001.00 – £500,000.00: £550.00 plus VAT

If Value of Property above £500,001.00: Legal fees would be 0.15% plus VAT of the Value of Property

 

Arranging ID Verification Check: £10.00 plus VAT per name

Arranging Electronic Money Transfer: £40.00 plus VAT per transfer

File/Document Storage fee: £25.00 plus VAT

 

Total Legal Fees based on the mortgage/remortgage of one registered Freehold Title by one individual with funding from a High Street Lender

If Value of Property £0.00 – £200,000.00: £470.00 plus VAT

If Value of Property £200,001.00 – £300,000.00: £525.00 plus VAT

If Value of Property £300,001.00 – £400,000.00: £570.00 plus VAT

If Value of Property £400,001.00 – £500,000.00: £625.00 plus VAT

If Value of Property above £500,001.00: Legal fees would be 0.15% plus VAT of the Value of Property plus £75.00 plus VAT

 

Please note that if the property comprises a leasehold property there will be additional legal fees of £195.00 plus VAT

 

Disbursements (these are costs related to your matter payable to third parties which we handle on your behalf to ensure a smoother process) based on the mortgage/remortgage of one registered Title:

 

HM Land Registry Fees will depend on the amount of the new mortgage loan. You can calculate the amount you will need to pay by using HM Land Registry’s website

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

 

Local Search Fee: This is dependent upon where the property being mortgaged/remortgaged is located as each Local Authority has its own charge. These can range from £50 to £400, dependent upon the Local Authority, but you should be able to ascertain the Local Authority’s cost by visiting its website.

 

It may be the case that the new Lender will accept indemnity insurance – the premium for this will depend upon the value of the property, your lender’s requirements and the indemnity insurer’s requirements.

 

HM Land Registry Fees will depend on the registered entries on your Title of the property. You can calculate the amount you will need to pay by using HM Land Registry’s website

https://www.gov.uk/guidance/hm-land-registry-information-services-fees

 

The minimum Land Registry fee involved is currently £6.00

 

Each required document from HM Land Registry is currently £3.00 per document

 

Environmental, Chancel, Water & Drainage Search fees: £140.00 inc VAT estimated as dependent upon search provider’s charges at the time. It may be the case that the new Lender will accept indemnity insurance – the premium for this will depend upon the value of the property, your lender’s requirements and the indemnity insurer’s requirements

Land Registry Search fee – £3.00 per registered Title

 

Bankruptcy Search fee – £2.00 per name

 

If your lender is part of the LMS System – £10.00 plus VAT

 

If the property is leasehold there are certain disbursements which will no doubt be required as set out in the lease for the property as well as in the Landlord/Managing Agent/Management Company information/documents. Typical disbursements in this regard are set out below however, please note that this is not exhaustive and we can only inform you of the same once known:

 
  • Landlord/Managing Agent/Management Company Notice of Charge Fee – Often between £100.00 – £200.00 inc VAT
  • Landlord/Managing Agent/Management Company Certificate of Compliance Fee – Often between £100.00 – £200.00 inc VAT
 

Such disbursements vary from property to property and can on occasion be significantly more than the ranges given above.

* The costs above assume that:

a) this is a standard transaction and that no unforeseen matters arise 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– if this is not the case there would be an increase in the costs above;

b) the property comprises registered land – if the property is unregistered there would be an increase in the costs above;

c) for a leasehold transaction that this is for the assignment of an existing lease that is not a ‘Shared Ownership’ lease and is not the grant of a new lease – if this is not the case there would be an increase in the costs above;

d) the transaction is concluded in a timely manner and no unforeseen complication arises– if this is not the case there would be an increase in the costs above;

e) all parties to the transaction are co-operative and there is no unreasonable delay from third parties– if this is not the case there would be an increase in the costs above;

f) All required planning permission(s) and/or building regulations document(s) are provided – if this is not the case there would be an increase in the costs above;

g) All required documents have been provided – if this is not the case there would be an increase in the costs above;

h) no indemnity policies are required – if this is not the case there would be an increase in the costs above;

i) Any Third Parties involved provide required information/documents in a timely manner;

j) Any mortgage lender involved is a High Street lender providing a normal/standard product – if this is not the case there would be an increase in the costs above.

k) No Government Help To Buy Scheme/Product etc is involved – if this is not the case there would be an increase in the costs above.

l) No Gifter is involved – – if this is not the case there would be an increase in the costs above;

m) No second loan/charge is required – if this is not the case there would be an increase in the costs above;

n) the transaction does not comprise/involve out of the norm matters eg Right to Buy, Auction property, Repossessed property etc;

o) No personal attendance at the property or with yourself is required – if this is not the case there would be an increase in the costs above

     

For a bespoke Costs Estimate please contact our Property Law Team who will be happy to take your information and respond with a tailored Estimate.

 

Please call our dedicated Property Law Team line on Tel: 01256 305516 or email enquiries@lambbrooks.com and our Property Law Team promise to respond promptly.

 

Our Property Law Team has 100 years of collective experience in delivering high quality work in all matters relating to Residential Conveyancing. We have five members of our Property Law Team who may work on your matter. Regardless of who works on your matter, they will be supervised by Sheena Aston, Partner and Head of the Property Law Team who has over 18 years of post-qualification experience in property work.

Key Contacts

Sheena Aston

Head of Property Law Team

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