Our legal fees cover all the work required to complete the Sale or Purchase of your new home, including dealing with your Lender (where relevant), and/or registering the ownership of your new home at the Land Registry. We also deal 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 is in Wales.
Our fees for re-mortgaging cover all work with your existing and new mortgage lender and HMLR.
Depending upon the location and price of the Sale/Purchase the total amount paid will vary. (*Please see our Cost Information for a more detailed breakdown of our typical prices and disbursements*)
Our fixed fee prices typically start at £395 – £495 + vat for legal fees for properties under £250,000.00 and usually do not exceed £1,500.00 + vat for properties over £1,000,000.00.
If you are buying or selling a Leasehold property, we charge an extra fee of £150.00 + vat for handling the additional legal work involved.
Fees for re-mortgaging typically start at £395.00 + vat and disbursements.
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Typical disbursements which tend to apply are set out below. This list is not exhaustive and you will be provided with a full breakdown of those which apply to you at the start of the transaction.
Typically, disbursements include:-
Search Fees £ 235.00 (estimate depending on locality)
Bankruptcy search £ 2.00
Final OS1 search £ 3.00
HMLR Fee (Land Registry Fee) – this is worked out based on the purchase price of the property you are purchasing. Please see the scale below:-
SDLT Fee – (Stamp Duty Land Tax) – This is calculated on the purchase price of your property. The HMRC has a calculator to assist you on their website at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if your property is in Wales you will need to use this link https://lttcalculator.wra.gov.wales/ChargeableTransactionType.
The fee for completing this document for the HMRC is £40.00 +vat and will be included in your formal quote.
Additional Leasehold Fees
If you are selling a leasehold property (except for long lease houses) you will need to provide the buyer with a pack of information which we will obtain on your behalf from either the Landlord/Managing Agent or both, who will charge a fee for providing this information. Fees vary depending on the Landlord/Managing Agent but typically you will be charged between £100 – £250 and some third parties may charge vat in addition.
If you are buying a leasehold property (except for long lease houses) we may be required to enter into additional legal documents which may attract additional charges by the Landlord/Managing Agent.
Examples are shown below:
Notice of transfer £50 – £200
Notice of charge £50 – £200
Deed of covenant £50 – £100
Certificate of compliance £50 – £100
Our fee assumes 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
b. in respect of leasehold transactions, it involves an assignment of an existing lease and not the grant of a new lease
c. the transaction is concluded in a timely manner and no unforeseen complication arise
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
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How can we help?
To speak to our dedicated team of Solicitors, call us on 0191 5666 500