Residential Conveyancing Fees
We use a transparent pricing structure for our residential conveyancing fees in order to complete the sale and/or purchase. The fees include filing of a Land Transaction Return at HMRC(and payment of any Stamp Duty Land Tax) as well as registering the purchase with the Land Registry.
Our residential conveyancing fees on a property sale are calculated as follows:
0.25% of sale price up to £500,000 with minimum charge of £650
0.2% of sale price from £500,000 to £750,000
0.15% on sales above £750,000.
Professional charges on a property purchase are calculated as:
0.3% of purchase price up to £500,000 with minimum charge of £750,
0.25% of purchase price from £500,000 to £750,000
0.2% on purchases above £750,000.
Please bear in mind the additional points:
There is an additional charge of £250 for any leasehold purchase.
The fee for acting on behalf of the mortgage lender is £350.
Electronic money transfer fee is £40.
Anti-money laundering search fee is £25 (per person).
All fees are exclusive of VAT.
This fee structure suits the majority of residential property transactions. In the event that the property transaction more complex than expected or there is any unanticipated element, for example, defective legal title, lack of planning permission or building regulations consent or where there are restrictive covenants which may need to be released or covered by indemnity insurance, we reserve the right to negotiate changes to the basic fee structure.
Disbursements are costs related to your matter that are payable to third parties, such as search fees, Stamp Duty Land Tax and Land Registry search and application fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There are specific disbursements for the purchase of leasehold properties, namely, Notice of Assignment fee, Notice of Charge fee, Deed of Covenant fee and Certificate of Compliance fee.
We will update you on the specific disbursement costs upon being instructed by you and receiving title documents from the Seller’s solicitors.
On a leasehold purchase, 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.
Stamp Duty Land Tax and Land Registry Fees