Our fees guideline are set out below and cover the work required on a typical purchase sale and remortgage. If you would like a specific quotation for your circumstances please contact us directly.
The fees set out below assume that this will be a straightforward transaction with no unforeseen issues such as a defect in the title or the preparation of additional documentation ancillary to the main transaction. We have also assumed that the transaction is concluded in a timely manner and that no unforeseen complications arise which could incur additional correspondence time or expertise. Should the transaction not be straightforward for any reason there would be additional costs based on an hourly charging rate of £295 however we would not allow you to incur any additional costs without notifying you first.
All residential work will be carried out in our Residential Conveyancing department by a fully qualified residential conveyancer with many years experience within this area of law.
Typical costs are as follows
| Freehold | Leasehold | ||
| Up to £750,000 | Sale | £1,350.00 plus VAT at 20% | £1,500.00 plus VAT at 20% |
| Purchase | £1,500.00 plus VAT at 20% | £1,650.00 plus VAT at 20% | |
| £751,000- £1M | Sale | £1,600.00 plus VAT at 20% | £1,750.00 plus VAT at 20% |
| Purchase | £1,800.00 plus VAT at 20% | £2,000.00 plus VAT at 20% | |
| Over £1M | Both | 0.175% of purchase/sale price plus VAT at 20% | |
Transfer of Equity: £950.00 plus VAT at 20%
Transfer of Equity & Mortgage: £1,200.00 plus VAT at 20%
In addition to the above costs there will be disbursements payable, typical disbursements are as follows:
Sale
Office copy entries obtained from HM Land Registry: £6.00 – £12.00 plus VAT at 20%
Bank transfer fee: £30.00 plus VAT at 20%
AML Id checks (per person): £5.00 plus VAT at 20%
If the property is leasehold there may also be a management pack fee approx: £300
Purchase
Search fees (approx.): £400.00
Bank transfer fee: £30.00 plus VAT at 20%
Final Land Registry fees: £ 7.00 plus VAT at 20%
AML Id checks (per person): £5.00 plus VAT at 20%
Land registry registration fee: £45.00 – £150.00 depending on the purchase price
Stamp duty: To be advised as this can vary depending on the circumstances
Management/freeholders fees: To be advised depending on the requirements on the Title
Transfer of equity or remortgage
Bank transfer fee: £30.00 plus VAT at 20%
Office copy entries: £6.00 – £12.00 plus VAT at 20%
Final Land registry searches: £7.00 plus VAT at 20%
Land registry fees (approx.): £45.00 depending on the factors of each transaction
AML ID checks (per person): £5.00 plus VAT at 20%
Stamp duty may be payable depending on the circumstances and amounts being transferred with a transfer of equity. This can be discussed and a price provided with your individual quotation.
Additional fees will be added in respect of the following:
- Third party gifts towards a purchase – £150.00 depending on the requirements of any lender.
- Statutory declarations – this will vary depending on the complexity of the document but a simple declaration will be around £150.00
- Arranging an indemnity policy – approx. £50.00
- Search fees are dependent upon the Local Authority. As mentioned about we estimate the costs for the search fees currently around £400.00.
Disbursements are costs relating to your transaction that are payable to third parties such as Land Registry fees and Stamp duty. These payments are made by us by reclaimed from you.
Services
We set out below the key stages involved during a purchase of a property:
- Taking your instructions and giving you initial advice
- Checking your id opening a file and providing you with initial client care letters and terms of business.
- Checking funds are in place and making contact with your lender.
- Receiving contract papers and reviewing the same.
- Instigating searches and raising enquiries with sellers solicitors.
- Providing you with a report on all documents and information received on the property.
- Reporting to you on the mortgage offer.
- Arranging for you to sign the contract and transfer deed and preparing for exchange.
- Once exchange has taken place we carry out final searches and request funds from your lender.
- Dealing with the purchase, paying the stamp duty and submitting the Land Registry application.
- Providing you with a copy of the title once registered.
The above is a simplified version of a purchase transaction. The average process takes between 8 – 12 weeks. It can of course be quicker or slower depending on the number of parties in the chain and a number of other factors. For example if you were purchasing a leasehold property which required a lease extension or a deed varying the terms of the lease the transaction could be delayed. We will of course keep you advised of any likely delays.
Key stages involved in a sale of a property are:
- Taking instructions and giving you initial advice.
- Checking you id opening a file and providing you with initial client care letters and terms of business.
- Obtaining a copy of your title from HM Land Registry and checking for any defects.
- Supplying you with property information forms for completion.
- Submitting contract papers to the buyers solicitors.
- Dealing with any enquiries raised by the buyers solicitors.
- Obtaining a redemption statement from your lender
- Forwarding the contract and transfer to you for signing.
- Dealing with exchange and preparing the file for completion
- Completing the sale and redeeming the mortgage
- Advising the estate agent and settling their account.
Again a sale will take approximately 8 -12 weeks depending on similar factors as set out above in a purchase. We cannot guarantee any timescale but can keep you advised throughout the transaction of any potential delays.
We have experienced qualified solicitors and residential property law specialists across our offices in Bracknell, Camberley and Epsom. Our legal experts at Foster Harrington have amassed a wealth of experience and expertise and our firm are members of the Conveyancing Quality Scheme.
