CONVEYANCING CHARGING RATES
In accordance with the requirements of the Solicitors Regulation Authority we give below our fees for acting on your behalf in connection with conveyancing transactions: –
Please note: –
- VAT should be added to all prices quoted.
- The following are only indicative charges and are based on a reasonably straightforward transaction. If additional work is anticipated or subsequently found necessary, our fees will need to be increased according.
Sales (with 1 mortgage to redeem) or Purchases (with one mortgage to take up): –
Price Freehold Leasehold
up to £200,000 £725 £825
£200,000 to £500,000 £755 – £855 £855 – £955
above £500,000 £880 – upwards £980 – upwards
- If no mortgage on sale £40 will be deducted
- If there is no mortgage to take up then £70 will be deducted
- If there is a mortgage to take up but the Lender is separately represented £100 per mortgage will be added
Electronic Transfer of funds – add £30 for each transfer
Buy to let – add £40
Shared Ownership purchase (new lease) – add £300
New Build Purchase – add £300
Shared Ownership sale or purchase (existing lease) – add £200
Help to Buy
using second charge – add £150
using ISA – add £60
1st charge for 1st charge £395
Redemption of 2nd charge Add £75
Transfers of Equity
Without mortgage £375
With mortgage £450
Severance of Joint Tenancy £195
Leasehold term extensions:
No mortgage involved £495
With single mortgage £595
Our current charge out rates for conveyancing matters are: –
Partner £215 ph
Solicitor £195 ph
Legal Executive £195 ph
Trainee Executive/Solicitor £165 ph
What is included: –
Taking your instructions, preparing and submitting draft contract, answering a limited number of enquiries raised thereon, arranging for the contract to be signed and effecting exchange of contracts. Answering Requisitions on Title, approving the draft Transfer deed, arranging for a copy to be signed in readiness for completion. Completing the matter and accounting to you for the net sale proceeds.
If the property is leasehold our fee would include obtaining ground rent and service charge information, dealing with enquiries raised on the information supplied by your Landlord or managing agents, preparing apportionments of these outgoings and settling any arrears out of the sale proceeds on completion
If there is a mortgage to redeem our additional fee would include obtaining a redemption statement, informing you as to the amount outstanding under the mortgage and on completion accounting to the Lender for the amount needed to redeem the mortgage (but excluding arranging the electronic transfer of the moneys to your Lender for which there is a separate charge)
Taking your instructions and upon receipt of draft papers raising enquiries and making appropriate searches. Reporting to you on the result of our enquiries and searches, returning the draft contract approved, arranging for you to sign a copy and ultimately exchanging contracts on your behalf. Approving the draft Transfer deed, raising Requisitions on Title, making a search at the Land Registry, preparing Land Transaction Return and arranging for you to sign the same, completing the matter, filing the Land Transaction Return and subsequently registering your purchase at the Land Registry
If the property is leasehold then our fee would include advising on the lease and groundrent and service charge information and serving notice of Transfer/Mortgage on the Landlords or their managing agents/solicitors following completion of the purchase.
If there is a mortgage to take up then our additional fee would include upon receipt of mortgage instructions from your Lender reporting to you, preparing the mortgage deed and arranging for you to sign it. Reporting on the title to the property to your Lender and obtaining the mortgage advance in time for completion, making a Land Charges search and following completion registering the mortgage with the Land Registry.
In very general terms a sale or purchase tends to take 4-6 weeks to exchange of contracts and then 1-2 weeks to completion of the transaction. This very much depends upon the length of the chain of transactions, whether the property is leasehold or freehold, if it is a purchase of a new build, shared ownership schemes, the need for any party to obtain a mortgage advance and whether problems arise during the course of the matter e.g. adverse survey reports, renegotiation on price, difficulties agreeing completion dates etc.
We will be pleased to advise you as to what is included in our other fee scales upon request.