SCALE OF LEGAL FEES ON RESIDENTIAL CONVEYANCING
Please note that the above scale of fees is not a quote and you should contact our offices and seek a quote specific to you taking into account all your circumstances.
Where the price is over £750,000 you should contact our offices and seek a quote specific to you.
All the above figures are required to have VAT added to them at the standard rate for the time being.
We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If, during the transaction, there is a new development or something we were unaware of when we initially quoted you, we will discuss the change in fees with you and agree a way forward.
Our fees cover all 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) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
In addition, the following will be charged:-
Payments to Third Parties
There are certain costs related to your matter which are payable to third parties, such as Land Registry fees. We handle the payment of these fees on your behalf to ensure a smoother process.
These fees may be subject to change if further information relating to your property becomes available, for example, if you require additional searches such as a Coal Mining Search.
Additional Anticipated Payments to Third Parties on a Leasehold Property
These fees vary from property to property and can on occasions be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
Stamp Duty Land Tax
This will depend on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website here.
We do not undertake tax advice.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
If a legal title is defective or part of the property is unregistered
If you discover building regulations or planning permission has not been obtained
If crucial documents, we have previously requested from you have not been provided to us
If the property is a new build
If the property is less than 10 years old
If you require to exchange within 6 weeks of instructing us
If you require completion within 6 weeks of instructing us
If you require simultaneous exchange and completion
For any transaction, the timescales are subject to change depending on when your offer is accepted and factors involved such as:
Number of parties in the chain
Whether you have a mortgage in place
Whether you are buying a new build property
Whether you need a lease extension for a leasehold property
A typical transaction will take between 10-14 weeks. However, if any of the above apply, or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.