Residential Property Costs

We usually charge on a fixed-fee basis, and there can vary depending on the experience and seniority of the lawyers who will assist you with your immigration matters as well as the complexity of the application.

 

Our hourly rates range from £175 to £325 plus VAT (where applicable) for our non-partner fee earners and £395-600 plus VAT (where applicable) for our partners. Please note that these rates are subject to annual review.  Our legal fees will always reflect the estimate given unless new or unforeseen circumstances arise. In such a case, a revised estimate of our legal fees will be provided to you. Where we are required to undertake additional work, our legal fees will increase upon notification.  

 

We provide a bespoke estimate of the likely fees you will incur once we have more information about the specific circumstances surrounding your purchase.  

Purchase Costs

Our fees cover all of the work required to complete the purchase of the property. This including dealing with the payment of Stamp Duty Land Tax or Land Tax and dealing with registration at the Land Registry.  

 

Our minimum fee for any transaction is £2,500 plus VAT and disbursements. For illustrative purposes only we have provided an approximate cost based on a property value of £2m.

 

                                                                                                 Freehold                                   Leasehold

 

Legal fees                                                                           £3,500 - £5,000                            £3,500 - £5,000

                                                                                                 plus VAT                                        plus VAT

HM Land Registry Fee                                                                  £455                                            £455

Land Registry Searches (approximately)                                      £20                                              £20

Search Pack (including Local/Drainage

and Water/ Environmental/ Chancel)                                     £510 plus VAT*                          £510 plus VAT*

Notice fees  (where applicable; approximate)                              N/A                                    £100 plus VAT*

Certificate of Compliance Fee                                                       N/A                                    £100 plus VAT*

(where applicable; approximate) 

Telegraphic Transfer Fee

(deposit, completion funds and SDLT)                                    £40 plus VAT*                           £40 plus VAT*

TOTAL (approximate including VAT

and excluding SDLT)                                                            £5,335 - £7, 135                      £5,555 -  £7355

Fees, Disbursements and VAT 

Please note the following:

  • Stamp Duty Land Tax is payable on a purchase, and depends on the value of the property and your circumstances, such as ownership of the other property, whether the property is purchased as individual or company etc. If you require further information on the SDLT payable on your purchase, please visit the government website: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

  •  Disbursements are costs related to your matter that are payable to third parties, Land Registry fees and Notice fees. We handle the payment of the disbursements on your behalf to ensure a smoother process but may require money to be paid to us in advance from you.

Included in the Costs

 

A broad outline of the work we undertake is as follows:

  • Coordinating of matters between you and the seller (via the seller’s solicitors and also the selling agents).

  • Reviewing of the draft contract and complete sales pack provided by the seller’s solicitors, as well as any valuation or survey reports you commission. We will raise additional queries on these with the seller’s solicitors

.

  • Negotiating the terms of the contract;

  • Raising pre-contract enquiries with the seller’s solicitors;

  • Carrying out local authority searches and commissioning other relevant searches or third-party reports. Where third party reports are obtained, we will send these to you, highlighting any further areas of investigation;

  • Advising in respect of mortgage offer (if applicable);

  • Once all due diligence has been completed, reporting to you on title related matters;

  • Completing land transaction/ stamp duty land tax for you to sign;

  • Exchanging contracts;

  • Drafting the transfer deed;

  • Paying the Land Tax/SDLT; and

  • Registering of the property at the Land Registry; all other post completion and registration requirements.

Not Included in Costs  

 

  • Tax Advice  

  • Surveys  

Assumptions

Please note that the fees quoted below are indicative only, and all transactions depend on their individual circumstances. The work undertaken by our firm is bespoke and usually complex, and our focus is more in providing a by-return service to our clients; building up personal connections and a long-term relationship.

 

The average fees below are based on transactions for a price of £2 million, which are straightforward with no onerous or unexpected complications.  

Timescales  

A number of factors can determine how long it will take from your offer being accepted to your prospective move in. The average process takes between 8-12 weeks. It can be quicker or slower, depending on the parties in the chain and the complexity of your purchase.   

Sale Costs

Our fees cover all of the work required to complete the sale of the property.  

 

Our minimum fee for any transaction is £2,500 plus VAT and disbursements. For illustrative purposes only we have provided an approximate cost based on a property value of £2m. 

 

                                                                                                 Freehold                                   Leasehold

 

Legal Fees                                                                             £2,500 plus VAT                          £2,950 plus VAT

Land Registry Searches (approximate)                                          £20                                            £50

 

 

Management Pack                                                                          N/A                               £250 - £650 plus VAT*

 

 

Landlord’s licence to assign

or deed of covenant (approximate)                                               N/A                                    £500 plus VAT*

 

 

Telegraphic Transfer

(includes proceeds to you and to bank)                                  £40 plus VAT*                           £40 plus VAT*

 

TOTAL (approximate including VAT)                                          £3,068                                £4,508– £5,018

 

 

Please note the following:  

 

 • Disbursements are costs related to your matter that are payable to third parties, Land Registry fees and Notice fees. We handle the payment of the disbursements on your behalf to ensure a smoother process but may require money to be paid to us in advance from you. 

Fees, Disbursements and VAT 

Included in the Costs

A broad outline of the work we undertake is as follows:

 

  • Co-ordination of matters between you and the buyer (via the buyer’s solicitors and also selling agents);

  • Preparing of a draft contract with complete sales pack included completed protocol forms and a management pack (if applicable). Dealing with all buyer’s solicitors enquiries and satisfying them on the due diligence;

  • Proving title to the buyer’s solicitors;

  • Dealing with replies to pre-contract enquiries;

  • Exchanging contracts;

  • Approving the transfer deed;

  • Exchanging contracts; preparation of pre-completion documents; formal Completion; all other post completion and registration requirements in order to complete the sale; and

  • Where appropriate redeeming any mortgage which may be registered against the property.

Assumptions

 

Please note that the fees quoted below are indicative only, and all transactions depend on their individual circumstances. The work undertaken by our firm is bespoke and usually complex, and our focus is more in providing a by-return service to our clients; building up personal connections and a long-term relationship.

 

The average fees below are based on transactions for a price of £2 million, which are straightforward with no onerous or unexpected complications.  

Timescales  

A number of factors can determine how long it will take from you accepting an offer until the sale is completed. The average process takes between 8-12 weeks.  It can be quicker or slower, depending on the parties in the chain and the complexity of your sale.   

Combined Sale and Purchase Transactions 

If you wish to instruct us to act on a sale and a purchase, please note that we will charge a separate fee for the sale on the basis that they are two separate transactions. Costs for sale and purchase will depend on the type of property, i.e. freehold or leasehold.

Mortgage / Remortgage  Costs

Our fees cover all of the work required to complete your purchase with a mortgage or remortgages. 

Fees, Disbursements and VAT 

   Freehold                                       Leasehold

Legal Fees                                                                           £2,500 plus VAT                           £2,750 plus VAT

 

 

Land Registry Fee                                                                        £125                                               £125

 

 

Land Registry Search                                                                   £20                                                  £50

 

 

Search Pack (including Local/Drainage and

Water/ Environmental/ Chancel)                                           £510 plus VAT*                            £510 plus VAT*

 

 

 

Notice Fees                                                                                      N/A                                    £100 plus VAT*

 

 

Landlord’s Consent                                                                          N/A                                    £250 plus VAT*

Telegraphic Transfer                                                               £48 plus VAT*                              £48 plus VAT*

 

TOTAL (approximate including VAT)                                         £3,805                                              £4,505

Scope of work

 

A broad outline of the work we undertake in a Mortgage, is as follows:

 

  • In some circumstances, acting for both bank and borrower in a mortgage transaction, if permitted by the bank. In other circumstances, representing either one of the bank or the borrower.

  • Coordinating of all matters between you and the bank.

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  • Conducting full due diligence on the legal title of the property; carrying out local searches; raising management enquiries (where applicable); advising or preparing loan and charge documentation.

  • If we are acting for the bank, then we will prepare and submit a certificate of title once all due diligence is complete. If we are acting for borrower only, we will satisfy the bank’s lawyers on the due diligence.

  • Registering the bank’s interest with the Land Registry and deal with any post-completion matters. As above mentioned, the fees quoted are approximate indicators, and presume a straightforward transaction without unforeseen complications.

A broad outline of the work we undertake in a Remortgage is as follows:  

 

The stages involved in your re-mortgage can vary. Some key stages to your re-mortgage that may take place are:

 

  • Writing to the existing mortgage lender to request a redemption statement to check monies owed;

  • Obtaining up to date title entries from the Land Registry, carrying out searches and sending these to the new lender's Solicitor; Answering enquiries raised by the new lender's Solicitor;

  • In Leasehold matters, obtaining a copy of your lease and provide it to the new lender's Solicitor;

  • Reviewing the mortgage offer, advising you on the terms and checking to ensure  the net mortgage advance will suffice to redeem your current mortgage;

  • Requesting a final redemption statement from your existing mortgage lender;

  • Carrying out searches on your title prior to completion to ensure no notices have been recorded and sending to the new lender's Solicitor;

  • Requesting your new mortgage lender to send us monies to complete your re-mortgage; Redeeming (paying off) your existing mortgage;

  • Registering the new mortgage against the title to your property.  

Assumptions

 

As above mentioned, the fees quoted are approximate indicators, and presume a straightforward transaction without unforeseen complications. There are many factors which could impact the fees above, and a non-exhaustive list of factors is as follows:  

 

  • Liaison with separate solicitors for your mortgage lender;

  • The property is unregistered;

  • The property is a new build;

  • There is a requirement for Islamic finance;

  • The purchase is taking place at an auction;

  • Where the client is based overseas or is a company which includes enhanced due diligence;

  • A defect in title which requires remedying prior to completion or preparation of additional documents ancillary to the main transaction;

  • Additional disbursements may apply if indemnity policies are required.

 

Our legal fees will always reflect the estimate given unless new or unforeseen circumstances arise. Should this be the case, we will produce a revised estimate of our fees.

Timescales  

 

A number of factors can determine how long it will take to completing such transactions. The average process takes between 4-8 weeks. In remortgages, it can be quicker or slower, depending on the requirements of the new lender and the complexity of the matter.