Conveyancing Costs

Leasehold properties often attract ground rent and service charges and these 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. There may be other disbursements set out in the lease relating to the property and we will update you on the specific fees upon receipt and review of the lease. There will be additional fees if we are instructed to draft a new lease.

Additional expenses subject to VAT

• Search fees £280.00 plus VAT (these prices are subject to supplier changes)
• Electronic money transfer fee £40.00 plus VAT
• Electronic identification check £7.92 plus VAT per person
• Lawyer Checker £15.00 plus VAT
• Mortgage Provider fee:
  • Lender Exchange £12.00 plus VAT
  • LMS £25.00 plus VAT
  • Independent Mortgage Provider (check your mortgage offer)

Disbursements

• Land Registry Priority fee £3.00
• Land Registry Bankruptcy fee £2.00 per person
• Land Registration fee https://www.gov.uk/government/organisations/land-registry Variable depending on value of property and nature of transaction
• Stamp Duty Land Tax https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

Expenses and Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of these on your behalf to ensure a compliant and smooth process.

How long will my conveyancing take?

We endeavor to report to you within six to nine weeks. Completion will depend on a number of factors including other people in the chain, mortgage conditions, and replies to enquiries from the other side solicitor.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a cash buyer, purchasing freehold property and there is no chain, it could take four to six weeks. However, if you are buying a leasehold property that requires an extension of the lease, and you are buying with a mortgage, this will take significantly longer, averaging two and four months. In such a situation additional charges may apply.

Stages of the process

The precise stages involved in the sale or purchase of a residential property vary according to the circumstances, but we have set out below some of the key stages:

• Taking your instructions and giving you initial advice
• Drafting or receiving contract documentation and advising you
• Carrying out any necessary searches
• Raising enquiries with the other side solicitors
• Advising you on all documents and information received from the other side solicitor and from the search results
• Summarizing any special conditions of a mortgage (purchase or remortgage only)
• Sending you the final contract for signature
• Agreeing a completion date
• Exchanging contracts and notifying you that this has happened
• Arranging for all monies needed to be received from the mortgage company and/or you
• Completing your transaction
• Dealing with Stamp Duty (purchase only)
• Dealing with the application to the Land Registry (purchase or remortgage only)

The above 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 requires remedying prior to completion
• The preparation of additional documents ancillary to the main transaction
• Any unforeseen issues highlighted in the searches or in planning documents
• Shared ownership or shared equity
• If you are buying with a Help to Buy ISA or if you are buying as part of a SIPP purchase.
• You are borrowing or being gifted funds to enable you to purchase a property.

When you telephone our team, they will give you a tailored estimate based on the information you provide and any changes to this will be supplied to you in writing prior to the additional work being done.