Conveyancing

PRICE INFORMATION FOR SALES, PURCHASES AND REMORTGAGES

Our Residential Conveyancing legal fees* cover all of the work required to complete the sale of your property or 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. Below we set out the price information followed by the key stages involved in a sale, a purchase and a re-mortgage.

Please note the legal fees* mentioned below relate to residential conveyancing only (i.e. the sale or purchase of an existing property). If you are purchasing a new build property, then please contact us by telephone as our legal fees will differ.

Purchase of a Freehold residential property

Legal fees* and disbursements

The average Purchase costs for a property price up to £600,000.00

Estimated total: £1,952.00

The average Purchase costs for a property price value over £600,000.00

Estimated total for a property valued at e.g. £1,000,000.00: £2,852.00

Disbursements are payable in respect of both a Purchase of a property or on a Sale of a property. These 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.

There will be various disbursements which will vary depending on the transaction and property price involved such as:

Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You should calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

How long will my house purchase/sale take?

How long it will take from your offer being accepted until you can move into your house will depend on several factors, e.g. parties involved and their circumstances, Mortgage Lenders carrying out valuations and then issuing a Mortgage Offer, private surveys or problems which may arise from results of local or other searches. The average process takes between 8-12 weeks but please bear in mind that these are approximate timescales only. It can be quicker or slower, depending on the parties in the chain.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. Below we list the key stages:

Purchase of a Leasehold residential property

Legal fees* and disbursements

The average Purchase costs for a property price up to £600,000.00

Estimated total: £2,432.00

The average Purchase costs for a property price value over £600,000.00

Estimated total for a property valued at e.g. £1,000,000.00: £3,332.00

Anticipated Additional Disbursements in respect of a Leasehold property*

These legal 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 the specific documents.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. Below we list the key stages:

Sale of a Freehold residential property

Legal fees* and disbursements

The average Sale costs for a property price up to £600,000.00

Estimated total: £1,195.20

The average Sale costs for a property price value over £600,000.00

Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total for a property valued at e.g. £1,000,000.00: £2,095.20

Sale of a Leasehold residential property

Legal fees* and disbursements

The average Sale costs for a property price up to £600,000.00

Estimated total: £1,435.20

The average Sale costs for a property price value over £600,000.00

Estimated total for a property valued at e.g. £1,000,000.00: £2,335.20

Anticipated Additional Disbursements in respect of a Leasehold property*

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 we receive this information.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. Below we list the key stages:

Remortgage of a Freehold residential property

Legal fees* and disbursements

The average remortgage costs

Estimated total: £1,035.20 – with searches
Estimated total: £935.20 with search validation indemnity insurance

Remortgage of a Leasehold residential property

Legal fees* and disbursements

The average remortgage costs

Estimated total: £1,155.20 – with searches
Estimated total: £1,055.20 with search validation indemnity insurance

* 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. this is the assignment of an existing lease and is not the grant of a new lease
c. the transaction is concluded in a timely manner and no unforeseen complications arise
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

For further information, please call one of our Conveyancing team who will be happy to provide any additional information you may require. Telephone us on 020 8992 9997.