Property Sale & Purchase 

Our fees cover all of the work required to complete the your sale, purchase or re-mortgage, including dealing with obtaining redemption statements, enquiries, registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (England) or Land Transaction Tax (Wales).

The fees listed are our average fee ranges for a sale, purchase or remortgage transactions. The fee (including additional fees and disbursements) may vary depending on a range of factors including the experience level of fee earner and location, the property price and what work we are required to do. It will also vary if you wish for us to expedite your transaction;

Our fee assumes that:

  1. 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;

  2. The transaction is concluded in a timely manner and no unforeseen complication arise;

  3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;

 

OUR FEE’S

Sale and Purchase

 

Property Value:                                                                        Fee                               incl vat

0.00 – 100,000.00                                                                 £580.00                          £696.00

100,000.01 - 200,000.00                                                     £610.00                          £732.00

200,000.01 - 300,000.00                                                     £650.00                          £780.00

300,000.01 - 400,000.00                                                     £710.00                          £852.00

400,000.01 - 500,000.00                                                     £860.00                          £1,032

500,000.01 - 600,000.00                                                     £930.00                          £1,116

600,000.01 – 700,000.00                                                    £1,200.00                       £1,440

700,000.01 – 100,000,000.00                                            £1,500.00                        £1,800

1,000,000.01 – 2,000,000.00 £2,000.00 £2,400

 

Remortgage:

Fee incl vat

Re-mortgage (Freehold) £480.00 £576.00

Re-mortgage (Leasehold) £540.00 £648.00

 

Other Additional Fees (If applicable to your transaction):

                                                                                Additions Fee               incl vat
Mortgage’s (each)                                                    £160.00                     £192.00
Leasehold /Management Company                     £120.00                     £144.00
Unregistered Property                                            £100.00                     £120.00
2nd Mortgage Redemption                                   £90.00                        £108.00
TP1 drafting                                                             £100.00                      £120.00
Deed of Trust (financial)                                        £100.00                      £120.00
Help-to-Buy ISA                                                       £50.00                        £60.00
Help-to-Buy Charge                                               £160.00                      £192.00
Shared Ownership                                                 £100.00                      £120.00

Lease Variation                                                      £1,000.00                    £1,200.00

Lease Extension                                                     £1,000.00                   £1,200.00

 

DISBURSEMENTS:

 

Sale

 

Registered Property:

Official Copy Register: £3.00

Official Copy Plan: £3.00

Official Copy Referred Documents: £3.00 per document

 

Unregistered Property:

Search of the Index Map: £4.00

Land Charges Searches: £2.00 per name

 

If a Managed or Leasehold Property your management company will charge for a Management Pack / Replies to Leasehold Enquiries, the cost varies considerably, your management company will be able to confirm this cost to you. You may wish to estimate in the region of £60.00 - £500.00 for this.

 

Purchase

Land Registry OS1: £3.00

Land Registry Bankruptcy Search: £2.00 per name

 

Land Registration Fees

Purchase of a “registered title” and/or “whole of the title”

0 to £80,000                       £20.00

£80,001 to £100,000         £40.00

£100,001 to £200,000       £95.00

£200,001 to £500,000       £135.00

£500,001 to £1,000,000    £270.00

£1,000,001 and over         £455.00

 

Purchase of an “unregistered title” and/or “part of the title”

0 to £80,000                       £40.00

£80,001 to £100,000         £80.00

£100,001 to £200,000       £190.00

£200,001 to £500,000       £270.00

£500,001 to £1,000,000    £540.00

£1,000,001 and over         £910.00

 

Stamp Duty Land Tax

Stamp Duty Land Tax is calculated on the value of the Property, whether you are a First Time Buyer, whether this will be your main residence and only property as well as whether the property will be an additional property. Please refer to the following links for an estimate:

 

 

Stamp duty is also payable on Transfers of Equity but the value is determined on the situation, whether there is any consideration paid or any mortgage on the property. Please refer to the following link for guidance:

 

 

Search Results

We use a Geodesys Searches to obtain the searches. A standard search pack includes:

• Local Authority Search

• Water and Drainage Search

• Environmental Search

• Flood Report.

 

Huntingdonshire £266.04

Fenland Area £305.04

Other areas We need to request a quote

 

Please note that Geodesys can update their fees at any point, these figures have been taken from their website in December 2018.

 

Please note in some cases it may be necessary to order further searches such as a mining search etc, this will be confirmed when we come to order the initial pack or when we receive the results of the searches through which may reveal entries.

 

Leasehold/Managed Properties

Please note that if there is a management company they may charge for the following “Notice of Transfer and Charge, Deed of Covenant, Issue Share Certificate, etc”, the management companies dictate these costs. You may wish to estimate between £30.00 to £150.00 for each item required.

 

Remortgage

 

Registered Property

Official Copy Register: £3.00

Official Copy Plan: £3.00

Official Copy Referred Documents: £3.00 per document

 

Unregistered Property

Search of the Index Map: £4.00

Land Charges Searches: £2.00 per name

 

AND

Land Registry OS1: £3.00

Land Registry Bankruptcy Search: £2.00 per name

 

Land Registration Fees

Registered title (Based on the Property Value)

0 to £100,000                       £20.00

£100,001 to £200,000         £30.00

£200,001 to £500,000         £40.00

£500,001 to £1,000,000      £60.00

£1,000,001 and over           £125.00
 

Unregistered title (Based on the Property Value):

0 to £80,000                         £40.00

£80,001 to £100,000           £80.00

£100,001 to £200,000         £190.00

£200,001 to £500,000         £270.00

£500,001 to £1,000,000      £540.00

£1,000,001 and over           £910.00

 

Leasehold/Managed Properties

Where the property has a leasehold company or companies involved, those companies will charge to supply a Leasehold Information Pack / Replies to management enquiries which is similar to that of a sale. They are also likely to want a Notice of Charge to update their records.

 

TIMESCALE

Sale or Purchase

How long it will take from your offer being accepted until you can move in or out of the Property will depend on a number of factors. The average process takes between 8-12 weeks.

It can be quicker or slower, depending on the parties in the chain and the timeliness of each party’s responses and returning documents.

In cases where you (as buyer) are purchasing a new build property where the build is complete and all relevant documentation available, this could take 8 weeks to exchange.

If the property is leasehold this can take significantly longer depending on the timeframes of the individual management company and obtaining management packs.

If the property involved has missing compliance documentation such as Building Regulations or Planning Permission, then this can take longer to deal with rectifying the issues.

Remortgage

The length of time between instructing us to successfully completing the remortgage process and your new lender details being submitted to the Land Registry, will depend on a number of factors. The average process takes between 4-6 weeks.

It can be quicker or slower, depending on the nature of your individual circumstances, the timeliness of each party’s responses and returning of documents.

For example, if you are remortgaging a property with a second equity redemption charge, this can increase the timeframes when corresponding with the relevant Help To Buy authority, who will have their own timeframes, to remove the charge.

 

STAGES OF THE PROCESS

The precise stages involved in the purchase, sale or remortgage of a residential property vary according to the circumstances; however below we have outlined the traditional stages we carry out below:

Purchase:

  • Take your instructions and give you initial advice;

  • Obtain necessary forms of identification, a payment on account and proof of funding from you.

  • Receive draft documentation from sellers lawyer;

  • Order searches;

  • Raise enquiries on the draft documentation;

  • Check search results that arrive in, potentially raise further enquiries;

  • Review replies to enquiries that are in; potentially respond regarding replies received:

  • Receive and report to you on a Mortgage Offer;

  • Report any areas of concern to you and your Lender:

  • Wait for Lenders approval to items reported;

  • Once all searches and sufficient information is in, prepare a Legal Report for you;

  • Arrange an appointment for you to visit the office to sign the relevant documentation and discuss the matter.

  • Supply you with a statement and invoice for transfer of funds;

  • Agree completion date (date from which you own the property);

  • Exchange contracts and notify you that this has happened;

  • Order mortgage advance, carry out completion searches and prepare file for completion

  • Complete purchase;

  • Deal with payment of Stamp Duty Land Tax;

  • Deal with application for registration at Land Registry and deal with requisitions.

  • Receive up to date title, schedule deeds and send them to you, and arrange for file closure

Sale

  • Take your instructions and give you initial advice;

  • Obtain necessary forms of identification and a payment on account from you.

  • Order the title if electronically registered otherwise obtain original title deeds

  • Prepare draft contract and supporting documentation to be issued to the buyers lawyer;

  • Order redemption statements from lenders;

  • Receive enquiries in from the buyers lawyer;

  • Take your instructions on the enquiries and report to you.

  • Arrange an appointment for you to visit the office to sign the relevant documentation and discuss the matter.

  • Obtain outstanding documentation from you, other third parties if required;

  • Send replies to enquiries to buyers lawyer;

  • Agree completion date (date from which you vacate the property);

  • Exchange contracts and notify you that this has happened;

  • Order final redemption statements

  • Prepare the file for completion;

  • Complete sale and send sales proceeds to you;

  • Send Transfer and accompanying documentation to the buyers lawyer

  • Action and deal with any undertakings given;

  • Arrange for file closure

Remortgage

  • Take your instructions and give you initial advice;

  • Obtain necessary forms of identification and a payment on account from you.

  • Order the title if electronically registered otherwise obtain original title deeds

  • Order redemption statements from lenders;

  • Receive your mortgage offer and report to you on this;

  • Apply for searches or search indemnity (dependent on what your lender requires);

  • Report to lender;

  • Set a completion date;

  • Order a revised redemption statement

  • Complete and transfer any remaining surplus to you;

  • Deal with application for registration of the new charge at Land Registry and deal with requisitions.

  • Send you and the lender the up to date title when in.

  • Arrange for file closure