Freehold Sale
Our fees for a freehold property sale are based upon the property value and will be explained to you when you are given your quote. Our minimum and maximum pricing ranges are illustrated below:
Property value under £150,000 = £650 legal fees + VAT
Property value of £1,000,000 = £1,000 legal fees + VAT
Property value of over £1,000,000 = £1,000 legal fees and 0.15% of the amount above £1,000,000 + VAT
We work on a fixed fee basis as this provides you with the certainty of knowing all the fees involved.
Please note, the costs will include acting for the lender in relation to the mortgage redemption.
There are a number of factors that could make the matter more complex and, in turn, increase costs. These can include, but are not limited to:
- Title issues;
- Restrictive covenants;
- Inadequate easements;
- Obtaining indemnity insurance; and or
- Excessive amounts of additional enquiries raised by the buyer’s solicitors.
Disbursements
There are a number of disbursements and costs that may need to be paid in addition to the above costs including:
- Official copy register entries of title and documents referred to in the title;
- Indemnity insurance (if required, cost varies depending on policy);
- Storage charges (if required, £40 plus VAT);
- CHAPS charges (£35 plus VAT for each payment).
Timescales
We estimate that a typical transaction will take three months although a sale can be completed sooner if there is no chain and/or by personal attendance by the buyer’s solicitor at our offices. Please contact us for an individual quote and indication of timescale.
Freehold Purchase
Our fees for a freehold property purchase are also a fixed fee and based upon the property value. The fees will be explained to you when you are given your quote. Our minimum and maximum pricing ranges are illustrated below:
Property value under £150,000 = £750 legal fees + VAT
Property value of £1,000,000 = £1,200 legal fees + VAT
Property value of over £1,000,000 = £1,200 legal fees and 0.15% of the amount above £1,000,000 + VAT
We work on a fixed basis as this enables the case to progress more efficiently and provides you with the certainty of knowing all the fees involved.
Please note, the cost includes:
- Acting for the lender in respect of any mortgage that the clients procure;
- Registration at the Land Registry; and
- Post completion requirements.
Factors that could make the matter more complex and therefore increase cost, can include, but are not limited to:
- Title issues;
- Restrictive covenants;
- Inadequate easements;
- Obtaining indemnity insurance; and or
- Dealing with third party solicitors who act for lenders.
Disbursements
There are a number of disbursements and costs that may need to be paid in addition to the above costs including:
- Search fees - £250 - £500 (dependent on Local Authority);
- Land registry fee - £20 - £910 (dependent on transaction value);
- Stamp Duty (dependent upon property value. HMRC Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro );
- Stamp Duty Land Tax Return Form Fee
- Indemnity insurance (cost varies depending on policy);
- Storage fee (£40 plus VAT at the prevailing rate);
- CHAPS transfer fee (£35 plus VAT at the prevailing rate for each payment).
- Lawyer Checker Fee
Timescales
The average timescale for a straightforward purchase is 3 months from initial instructions to completion. Please contact us for an individual quote and indication of timescale.
