In addition to Legal Fees for a Freehold Sale leasehold sale there is an additional fee for the legal work we undertake.
Additional legal fees £250.00 plus VAT
*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 transactionb.the transaction is concluded in a timely manner and no unforeseen complication arisec.all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentationd.no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
See APPENDIX B
Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing 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 you wish to buy is in Wales.Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Our fees depend on the property value and are set out in Appendix A below.
The Search fees vary according to the Local Authority in which the property is situated. The Search fees include the Local Search, Environmental Search. Drainage Search and Chancel Indemnity Insurance. We have included the Search fee for the Hounslow area in the information provided below.
The Land Registry fees vary according the value of the property.
You can calculate the amount you will need to pay by using the landregistry.data.gov.uk/fees-calculator.html** (The application type is Transfer of whole for value.)
The Stamp Duty Land Tax payable depends on the purchase price of your property.
You can calculate the amount you will need to pay by using HMRC's website
Legal fees See Appendix A
Search fees £310.00
Land Registry fee See HM Land Registry website
Electronic money transfer fee £36.00
Stamp Duty Land Tax See HMRC website
or if the property is located in Wales by using the Welsh Revenue Authority's website.
We pride ourselves in providing a service tailored to your individual needs and it is not possible to anticipate every different scenario that can arise. Your matter will be dealt with by an experienced conveyancing solicitor.The information below is therefore intended to provide you with our best indication of the work involved and costs to be incurred in the example situations listed.
This firm is authorised and regulated by the Solicitors Regulation Authority (SRA No:75153)
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are examples of the key stages involved in the purchase of a freehold and leasehold property:
•Take your instructions and give you initial advice
•Check finances are in place to fund purchase and contact lender's solicitors if needed
•Receive and advise on contract documents
•Carry out searches
•Make any necessary enquiries of seller's solicitor
•Go through conditions of mortgage offer with you
•Give you advice on all documents and information received
•Arrange signature of the contract
•Agree completion date (date from which you own the property)
•Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from lender and you
•Complete purchase
•Deal with payment of Stamp Duty/Land Tax
•Deal with application for registration at Land RegistryPlease see below for additional fees and disbursements for leasehold and newbuild properties.
*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 transactionb.the transaction is concluded in a timely manner and no unforeseen complication arisec.all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentationd.no indemnity policies are required.
Additional disbursements may apply if indemnity policies are required.
In addition to the fees and disbursements set out above for a Freehold purchase there is an additional fee for the purchase of a newbuild property due to the more complex nature of the transaction.
Additional legal fees £250.00 plus VAT
*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 transactionb.in the case of a leasehold property it is the assignment of an existing lease and is not the grant of a new leasec.the transaction is concluded in a timely manner and no unforeseen complication arised.all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentatione.no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
In addition to the fees and disbursements set out above for a Freehold Purchase there are certain disbursements which will be set out in the individual leases relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease.
Equally all these disbursements will not necessarily apply. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.Due to the more complex nature of a leasehold purchase there is an additional fee for the legal work we undertake.
Additional legal fees£250.00 plus VAT Notice of Transfer fee This fee if chargeable is set out in the lease.
Often the fee is between £50.00 - £150.00 plus VAT
Notice of Charge fee (if the property is to be mortgaged)This fee is set out in the lease.
Often the fee is between £50.00 - £150.00 plus VAT
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 £50.00 - £150.00 plus VAT
Certificate of Compliance fee
To be confirmed upon receipt of the lease, as can range between £50.00 - £150.00 plus VAT
These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.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.
In addition to Legal Fees for a Freehold Sale leasehold sale there is an additional fee for the legal work we undertake.
Additional legal fees £250.00 plus VAT
*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.the transaction is concluded in a timely manner and no unforeseen complication arise. c. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation d.no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
See APPENDIX C
CONVEYANCING COSTS
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-12 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, it could take 12 weeks. However if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such a situation additional charges would apply.
STAGES OF THE PROCESS:
FREEHOLD PURCHASE:
LEASEHOLD PURCHASE:
NEWBUILD PURCHASE:
FREEHOLD SALE:
REMORTGAGE/TRANSFER OF EQUITY COSTS:
LEASEHOLD SALE:
Our fees include all of the work* required to complete your remortgage/transfer of equity.The Land Registry fees vary according the value of the property. You can calculate the amount you will need to pay by using the http://landregistry.data.gov.uk/fees-calculator.html ** Notice of Charge fee (if the property is leasehold)This fee is set out in the lease. Often the fee is between £50.00 - £150.00 plus VAT*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 transactionb.the transaction is concluded in a timely manner and no unforeseen complication arisec.all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentationd.no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
HOW LONG WILL MY HOUSE PURCHASE TAKE?