How much will it cost me to sell my freehold residential property?
If you are looking to sell your home, our standard costs are as follows;

House Price Legal Fees

£

VAT @ 20%

£

Disbursements                       (including HM Land Registry & Electronic ID check)   

£

Estimated Total

£

Up to £100,000 550 110 12 plus 6 per person Anti-Money Laundering (AML) check 678
From £100,001 to £200,000 600 120 12  plus 6 per person AML check 738
From £200,001 to £300,000 650 130 12 plus 6 per person AML check 798

Our fees cover all of the work required to complete your house sale including; dealing with title matters, protocol forms, preparing the sale contract, responding to your buyer’s enquiries, approving the Transfer Deed, going through details with you before you exchange contracts; overseeing the successful completion of your sale and discharging a mortgage secured against the property. If there are further financial charges registered against the property extra costs and a bank transfer fee of £30 per charge will be incurred. The disbursements are the bare minimum and if further copy documents are required this will incur further charges. There will be fees incurred for electronic transfer of funds of £30 whenever that is required. Following completion of your sale we will provide your buyers with proof of discharge of mortgage and with your permission settle your estate agent’s costs. Finally, we will arrange for any net proceeds of sale to be transferred to your bank.  If you request a same day electronic transfer of net proceeds this will include a further charge of £30.

What will it cost me to sell my leasehold residential property?
If you are looking to sell a leasehold property, our standard costs are as follows;

House Price Legal Fees

£

VAT @ 20%

£

Disbursements                       (including HM Land Registry & Electronic ID check)

£

Estimated Total

£

 

Up to £100,000

600 120 15 plus 6 per person AML check 741
From £100,001 to £200,000 650 130 15 plus 6 per person AML check 801
From £200,001 to £300,000 700 140 15 plus 6 per person AML check 861

The sale of a leasehold property is considerably more complicated than the sale of a freehold property because there are additional legal rights and obligations imposed under the Lease Agreement. This is reflected in the higher fees charged. We will need to contact your landlord to obtain information regarding ground rent, service charge, future expenditure etc and ascertain whether there are additional requirements for third party consents required to sell the property (such as from the Landlord or a management company) and establish the cost of such consents. We will also need to deal with apportionments of service charge. Our Legal Fees increase in £50 increments with every additional £100,000 on the house price.  Depending on the requirements of the Landlord further costs will be incurred for giving notice and obtaining compliance certification where this is required. Details will be supplied once particular matters pertaining to a transaction are known.

How much will it cost me to buy a freehold residential property?                                 If you are looking to buy a house our standard costs are as follows;

 

House Price

Legal Fees

£

VAT @ 20%

£

Disbursements                       (including Searches, Stamp Duty, HM Land Registry fees & Electronic ID check)   £ Estimated Total

£

 

Up to £100,000

550 (inclusive of fees to act for your lender) 110 281 plus 6 per person AML check 947
 

From £100,001 to £200,000

600 120 336 plus 6 per person AML check plus Stamp Duty (SD) 1062 + SD
 

From £200,001 to £300,000

650 130 376 plus 6 per person AML check plus Stamp Duty (SD) 1162 + SD

Our fees cover all of the work required to complete the purchase of your new home, including dealing with your mortgage, considering legal title, carrying out searches, raising enquiries of the seller, advising you as to methods of joint ownership (where relevant), negotiating the purchase contract and transfer documents, advising you in respect of any mortgage offer, providing a report on title, exchanging contracts, transferring funds to the sellers solicitors dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty). We can advise you of how much stamp duty you will need to pay or you can find full details on the HMRC’s website [hhtps://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro]. There will be a further fee of £30 incurred for electronic transfer of purchase funds to the vendors solicitors.

How much will it cost me to buy a leasehold residential property?
If you are looking to buy a leasehold house our fees are as follows;

 

House Price

Legal Fees

£

VAT @ 20%

£

Disbursements                       (including Stamp Duty, HM Land Registry & Electronic ID check) 

 £

Estimated Total

£

 

Up to £100,000

600 120 281 plus 6 per person AML check 1007
 

£100,001 – £200,000

650 130 336 plus 6 per person AML check plus Stamp Duty (SD) 1122 + SD
 

£200,001 – £300,000

700 140 376 plus 6 per person AML check plus Stamp Duty (SD) 1222 + SD

Leasehold property transactions are considerably more complicated than freehold properties and this is reflected in the higher fees charged. This is because there are usually lots of obligations within a Lease document to consider and advise you on. We will need to consider, for example, whether there are satisfactory legal rights, particularly for access, services, support, shelter and protection and adequate mutually binding obligations (known as covenants) between the owner and the landlord dealing with, for example, buildings insurance, maintenance and repair of the structure, foundations, main walls, roof, common parts, common services and grounds and whether there are any existing breaches of such obligations by either party. Further fees may be incurred depending on the terms of the Lease and we will advise on that when we have details.

What are Disbursements?                                                                                                  

 If you are buying or selling a freehold residential property the standard disbursements are costs related to your matter such as Land Registry fees, Search fees, Electronic ID fee, Electronic Bank transfer fees and Stamp Duty. We handle the payment of the disbursements on your behalf to ensure a smoother process.

If you are buying or selling a leasehold property there are additional disbursements which will be set out in the Lease Agreement. The disbursements which we usually expect are set out below.

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50- £100.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 – £100.
  • 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 £100 and £200.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £150 – £250.

This list is not exhaustive and other disbursements may apply depending on the term of the lease. The fees can vary and can be significantly more than the ranges given above. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

Will there be any additional costs I wasn’t expecting?                                                    

It can be difficult to provide an exact cost for buying or selling both freehold and leasehold property as there can be lots of complications involved, not all of which we are aware of when you first meet us. The following is a list of some of the things that can increase the cost of our service to you;

If the property is a new build or a grant of a new lease If we have to discharge additional loans
If the property is subject to a lease or tenancy If we have to deal with lenders separate solicitors
If all or part of the property is unregistered title If there are expediting transactions
If the property is registered under more than one title If we have to prepare Statutory Declarations (e.g. of solvency or regarding easements)
If the legal title is defective If we have to prepare Declarations of Trust (e.g. where joint owners contributing unequal amounts to the purchase price wish to make an agreement as to how sale proceeds are to be divided in future)
If building regulations or planning permission has not been obtained If we have to obtain copies of lost deeds or reconstituting lost title documents
If crucial documents previously requested have not been provided If we have to obtain Landlord / Covenantees Consent
If we are dealing with more than one loan If we have to send out more than one contract (known as a contract race)
If we are dealing with unrepresented parties or matters relating to third parties making a gift of the deposit If we have to consider and advise on trust deeds
If preparation of an Occupier’s Consent Form is required If we have to deal with retentions of money after completion
If we need to arrange indemnity insurance If the property has solar panels
If the process involves dealing with a Help to Buy scheme, such as an ISA account or equity loan If we have to deal with the Green Deal Scheme
If there are multiple owners If it is a shared ownership scheme purchase
If the property has been purchased at auction If there are delays caused by parties involved in the transaction being uncooperative
If the property has been repossessed Please note this list is not exhaustive

We will take all reasonable steps to keep you informed of any additional, unforeseen charges so there are no unexpected costs at the end of the process.

How long will my house purchase/sale take?                                                              

 The average house sale/purchase takes between 8 and 12 weeks.  It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle you could complete within 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this could take up to 4 months. In cases which take substantially longer than the average and or originally anticipated timescale, the fees involved could increase.  We will keep you informed of any additional charges as and when they arise.

Our People                                                                                                                

We have a dedicated and experienced team ready to deal with all your conveyancing needs.

Peter Bainbridge: Partner

John Bysouth: Senior Solicitor, Head of Residential Conveyancing

Laura Mann: Conveyancing Solicitor