Overview
On residential matters, we ordinarily work on a fixed fee basis, so that our clients are aware of what the fees will be for a transaction from the very beginning. Our legal fees cover all the work required to complete the purchase of your new home, including preparing and submitting the registration application at HM Land Registry and dealing with the payment of Stamp Duty Land Tax to HMRC.
Our clients are provided with a cost estimate in writing – this way we can ensure that all fee estimates are adhered too and that there are not any hidden fees. If, however, new developments take place during the transaction and it involves additional work, we will discuss any modification in fees with you first.
In most transactions, our legal fees for handling the conveyancing on the purchase of a freehold residential property, by individuals, ranges from £900 to £2500 plus VAT. The legal fee is determined by the property value.
Please note, the fee range quoted above assumes that it’s a standard transaction and no unforeseen matters arise including, for example (but not limited to), a defect in title which requires remedying before completion, or the preparation of additional documents supplementary to the main transaction, the transaction is concluded in a timely manner and no unforeseen complications arise, all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation, no indemnity policies are needed (there may be additional fees and disbursements if indemnity policies are required) and we are also instructed to act for your lender to complete the registration of the mortgage on your property.
The following is a list of things that we consider to be supplementary and not included in standard quote:
- Gifted Deposit - £75.00 plus VAT
- First Time Buyer ISA - £60.00 plus VAT
- Arranging Indemnity Insurance (per policy) - £50.00 plus VAT
- Telegraphic Transfer Administration Fee - £30.00
- Shared Ownership - £150.00 plus VAT
- Help to Buy Scheme - £150.00 plus VAT
Factors that may affect our Fees
During a transaction, there can be instances that may lead to an increase in our fees. Examples of this are the requirement for planning/building regulations indemnity, unregistered property, and defective title. If we believe that a factor is likely to affect your fees, we will of course notify you first before adding an additional fee to your transaction.