Fees and Disbursements
Our fees are based on a sliding scale, for a typical house purchase at around £250,000.00 our fees range from around £838.80 inclusive of Vat (20%) to £1198.80 inclusive of Vat for a purchase at £750,000.00. The figures may however vary in cases with special complications. That’s why we will always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase. We will always advise you immediately about any complications and discuss the potential impact on price before any additional charges are incurred.
In some cases where the matter has been introduced to us by a Referrer, we may well pay that party an introducers fee. The Referer is obilged to advise you of this and we will always disclose this payment in our client care letter to you.
It is essential that you budget accurately for your move as all payments need to be made before you can complete the transaction. There is no longer any fixed scale, but our fees will reflect the complexity and time involved, the number and length of documents, the price, the specialised knowledge required and whether or not the land is registered. These matters cannot be quantified until completion, but we are happy to provide you with an estimate. Occasionally problems arise during the course of a transaction which requires us to carry out additional work which could not have been anticipated. Some of the more common problems we encounter are set out in the Appendix together with an indication of our fees for dealing with them.
In most cases we will also act for your mortgage lender and an account will be rendered for this work.
VAT is payable on our fees.
Your account will show “disbursements” or payments we collect from you and pay to others. These include:
- Stamp Duty Land Tax at the following rates (non-surcharge rates):
0 – 125,000 0% 125,001 – 250,000 2% 250,001 – 925,000 5% 925,001 – 1,500,000 10% 1,500,001 and over 12%
- Land Registry fees which vary depending on the price of the property that you are buying
- Search fees and landlords registration fees
(NB a different scale applies for the purchases of second or additional property or those properties purchased in the name of a company, please let us know if you are undertaking a second or subsequent purchase or will be purchasing the property in the name of a company)
Additional Conveyancing Charges
The following is a list of applicable charges where additional work is required in connection with conveyancing matters, starting from:
|Additional Service||Minimum Additional Charge||Notes|
|Arranging or approving indemnity policies||£95||Per policy|
|Dealing with title defects||£150|
|Dealing with unsecured loans/debts||£95||Per loan/debt|
|Registering or redeeming second charge – Mortgage lender’s fee||£150||Per charge|
|Deeds of covenant||£95|
|Deed of variation||£250||Transfer of freehold (with lease)|
|Transfer of freehold (with lease)||£250||Not including Land Registration fees|
|Obtaining duplicate documentation||£30||Per document|
|Service charge retention||£100||Per retention|
|Licences to occupy||£250|
|Correspondence with previous solicitors||£30||Per letter|
|Advice on survey reports||£100|
|Power of Attorney||£150||General Power (sole)|
|Power of Attorney||£275||General Power (joint owners)|
|Fast Track Completion Service (see attached)||£150|
|Sales or Purchases of Part||£250|
|Freeholds with Management Charge||£200|
|Help to Buy||£250|
|Redrafting contract papers||£50|
|Referrals from lenders||£95|
All charges are exclusive of VAT.
Fast Track Completion Service
The gap between exchange of contracts and completion is usually 14 days and can be longer. If there is a mortgage involved, lenders normally require at least 5 working days’ notice after exchange of contracts to produce funds.
If you wish to speed up your completion our Fast Track Service offers: –
Simultaneous Exchange and Completion OR within a week of each other
- Priority Service
- Legal Work fast tracked
- Early funds release.
The cost of this service is from £150.00 exclusive of VAT per sale and purchase to include negotiating arrangements with the sellers’ solicitors and any mortgage lender.
Exchange of Contracts and Completion can only take place once:
- All legal queries have been answered
- All parties agree the arrangement and the completion date.
- All legal paperwork has been signed by all parties.
- Funds release is confirmed by any lender involved.
If you are interested please contact your legal adviser to discuss our Fast Track service.
Note: If you exchange and complete simultaneously there is no legal commitment on each party until the contract is exchanged. This means that each party may withdraw. If you choose to exchange and complete simultaneously using our Fast Track service and have a mortgage, we will apply for mortgage funds for the anticipated completion date in advance. If completion doesn’t take place for any reason you will be responsible for fund transfer costs and interest on the loan. Fees are payable once you authorise the service whether or not the arrangements proceed.