If you are having a mortgage, paying off a mortgage, or using a Help to Buy ISA, the above prices will increase by £50 plus VAT (£60 inclusive of VAT) per source of funding. There will also be a charge of £30 plus VAT (£36 inclusive of VAT) for each payment made by bank transfer.
For leasehold properties, our fee assumes that:
- this is a standard transaction and that no unforeseen matters arise, including for example (but not limited to) a defect in title which require remedying prior to completion, or the preparation of additional documents ancillary to the main transaction.
- this is the assignment of an existing lease and not the grant of a new lease
- the transaction is completed in a timely manner and no unforeseen complications arise
- no indemnity policies are required.
- Additional charges will apply if indemnity policies are required.
For the latest information about Stamp Duty Land Tax rates please see
https://www.gov.uk/stamp-duty-land-tax, or contact us for advice.
There will be additional fees if there are matters concerning your sale, purchase or re-mortgage that make the matter more complex, such as the following:
- If there is a license to assign
- If the property is unregistered
- If there is a defect in the title
- If there is a deed of trust required
- If a statutory declaration is required
- If an insurance policy is required
- If you wish us to store your deeds
- If you wish us to post your deeds
The average range of prices for these extra services is between £50 and £180 plus VAT (£60 and £216 inclusive of VAT).
The above fees are for the work which we carry out. In addition to these, there will almost always be other payments to be made to third parties. These payments are called disbursements.
When you are buying, you will usually require searches to be carried out and the total price varies depending upon the location of the property. Almost invariably a water search and local search will be carried out. The fee for a water search is currently £64.80 inclusive of VAT. A local search is a search with the Local Authority within which the property is located, Derby City Council charge £118.50 inclusive of VAT, South Derbyshire £96, and Amber Valley £123.24. It may be advisable for you to undertake additional searches based upon the local area, such as a mining or an environmental search. The fees for these are typically between £48 and £68 inclusive of VAT.
There is also usually a fee for Land Registry searches for bankruptcy at a cost of £6 plus VAT (£7.20 inclusive of VAT) per borrower and for a priority search of £7 plus VAT (£8.40 inclusive of VAT).
If you are buying you may have to pay Stamp Duty Land Tax. The amount payable depends on the purchase price of your property and your personal circumstances.
Here is a link to the rules and the rates https://www.gov.uk/stamp-duty-land-tax/residential-property-rates.
These are fees charged by the Land Registry when registering the change in ownership. These are calculated on a sliding scale, depending upon the value of the property. More information can be found here:
https://www.gov.uk/guidance/hm-land-registry-registration-services-fees There is no VAT charged on these fees.
If the property is leasehold, then there may be additional disbursements to pay as follows:
- Notice of transfer fee - this fee (if chargeable) is set out in the lease. Often the fee is between £100 and £300.
- Notice of charge fee (If the property is to be mortgaged) - this fee (if chargeable) is set out in the lease. Often the fee is between £100 and £300.
- Deed of covenant fee - this fee is provided by the management company for the property and can be difficult to estimate. Often it is between £200 and £500.
- Certificate of compliance fee - this fee will be confirmed upon receipt of the lease.
- These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure for these once we have sight of your documents.
For leasehold matters, 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.
If you are selling, there may be estate agents fees to pay and there is usually a fee of £14 plus VAT (£16.80 inclusive of VAT) for office copies from the Land Registry.
For mortgaging or re-mortgaging a property there is always a fee for bankruptcy searches at a cost of £6 plus VAT (£7.20 inclusive of VAT) per borrower. There may be a priority search fee of £7 plus VAT (£8.40 inclusive of VAT) and also a registration fee to pay at the Land Registry if there is a change of ownership.
For leasehold properties, there maybe a notice of a charge fee which is set out in the lease (if chargeable). Often the fee is between £100 and £300.
If you have solar panels, the price will increase by £300 plus VAT (£360 inclusive of VAT) if you lease your panels and £250 plus VAT (£300 inclusive of VAT) if they are owned by you.
If it is a new build or shared ownership property or the title is unregistered, the above prices will increase by £500 plus VAT (£600 inclusive of VAT).
For any auction matters, the prices will increase by £200 plus VAT (£240 inclusive of VAT).
If you have an abortive sale, purchase or re-mortgage, you will need to reimburse the costs of any disbursements we have paid out, such as search fees, and we will charge a fee not exceeding 90% of the fee estimate provided at the outset. This fee will be calculated on a timed basis at an hourly rate of £190 per hour plus VAT (£228 inclusive of VAT).
Our conveyancing team is made up of a Conveyancing Manager, who has over 35 years experience in residential conveyancing, and qualified solicitors (with at least 3 years conveyancing experience). The team is supervised by John Sutcliffe (Consultant) and Kevin O'Donnell (Partner), who are both qualified solicitors with over 40 years experience in residential conveyancing.
Our fees cover all the work required to complete the purchase of your new home, including dealing with the 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 (if the property is in Wales) on your behalf.
How long it will take from your offer being accepted until you can move into your property will depend upon a number of factors. The average process takes between 8 and 12 weeks. It can be quicker or slower, depending upon the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, it could take significantly longer, between 3 and 5 months. In such a situation, additional charges would apply.
The stages involved in the purchase of residential property vary according to the circumstances. They typically include:
- Taking your instructions and giving you initial advice
- Carrying out essential identification and anti-money laundering checks
- Checking finances are in place to fund the purchase and contacting the lender/lender's solicitors (if needed)
- Receiving and advising on contract documents
- Carrying out searches
- Obtaining further planning documentation (if required)
- Making necessary enquiries of the seller's solicitor
- Advising you on all documentation and information received
- Going through the conditions of a mortgage offer with you
- Obtaining signatures on the final contract
- Agreeing a completion date (the date on which you own the property)
- Exchanging contracts and notifying you this has taken place
- Arranging for all monies needed to be received
- Completing the purchase
- Transferring funds by bank transfer to Sellers solicitors
- Dealing with the payment of the Stamp Duty/Land Tax if required
- Dealing with the application for registration at the Land Registry
If the property is leasehold, there will normally also be additional work in dealing with the apportionment of any rent, or service charges (if applicable).
Our fees cover all the work required to complete the re-mortgage of your home, including dealing with the registration at the Land Registry. The stages typically include:
- Taking your instructions and giving you initial advice
- Carrying out essential identification and anti-money laundering checks
- Investigating the title to the property
- Checking finances are in place and contacting the lender/lender's solicitors (if needed)
- Carrying out searches (if required)
- Advising you on all documentation and information received
- Obtaining redemption figures for any charges
- Going through the conditions of a mortgage offer with you
- Obtaining signatures
- Agreeing a re-mortgage date
- Arranging for all monies needed to be received and repaid
- Completing the re-mortgage
- Dealing with the registration at the Land Registry
How long it will take from your offer being accepted until you can move into your property will depend upon several factors. The average process takes between 8 and 12 weeks.
Our fees cover all the work required to complete the sale of your new home, including dealing with the registration at the Land Registry and dealing with the payment of estate agents fees if required. The stages of selling a residential property typically include:
- Taking your instructions and giving you initial advice
- Carrying out essential identification and anti-money laundering checks
- Checking the title to the property, obtain the deeds (if necessary) and make appropriate searches
- Assisting you with completion of the Fixtures, Fittings & Contents form and Property Information form
- Replying to pre-contract enquiries
- Preparing a sale contract
- Preparing and negotiating a transfer document
- Obtaining redemption figures in respect of any secured charges
- Proceeding to exchange of contracts and then completion of the sale
- Transferring funds by bank transfer to repay charges and providing evidence of discharge (as required)
- Paying estate agents fees on your behalf (if appropriate)
How long it will take until a sale is completed, will depend upon a number of factors. The average process takes between 8 and 12 weeks. It can be quicker or slower, depending upon the parties involved. If you are selling via an auction and the property is empty, the process can normally be concluded within 8 weeks. If you are selling a leasehold property that requires an extension of a lease, this can take significantly longer.
