Contact

A Kay Pietron & Paluch
Solicitors LLP
371 Uxbridge Road
London W3 9RH

ku.oc1611217158.ppka1611217158@ofni1611217158

Phone: 44 (0)20 8992 9997
Fax: +44 (0)20 8993 5698

Authorised and regulated by the Solicitors Regulation Authority (SRA no 553614)
Companies House reg no OC358441
Conveyancing Quality Scheme – CQS 01128
VAT reg no 495 326 420

 

Conveyancing

Price Information for Sales, Purchases and Remortgages

Our Residential Conveyancing legal fees* cover all of the work required to complete the sale of your property or the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales. Below we set out the price information followed by the key stages involved in a sale, a purchase and a re-mortgage.

Please note the legal fees* mentioned below relate to residential conveyancing only (i.e. the sale or purchase of an existing property). If you are purchasing a new build property, then please contact us by telephone as our legal fees will differ.

Purchase of a Freehold residential property

Legal fees* and disbursements

The average Purchase costs for a property price up to £600,000.00

  • Legal fee £950.00 plus VAT
  • Search fees £500.00 approx. (some searches may be subject to VAT)
  • HM Land Registry fee £270.00
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total: £1,952.00

The average Purchase costs for a property price value over £600,000.00

  • Legal fee £0.17% of the price plus VAT
  • Search fees £500.00 approx. (some searches may be subject to VAT)
  • HM Land Registry fee £270.00
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total for a property valued at e.g. £1,000,000.00: £2,852.00

Disbursements are payable in respect of both a Purchase of a property or on a Sale of a property. These are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

There will be various disbursements which will vary depending on the transaction and property price involved such as:

  • Stamp duty = from 0 to 12% of property value;
  • Land Registration Fees – between £20.00 and £910.00;
  • Bankruptcy search fees = £2.00 per person;
  • Land Registry fee – £3.00 per search;
  • ID and AML checks – £9.60 per person;
  • Office copy documents – £3.00 plus VAT per document.

Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You should calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

How long will my house purchase/sale take?

How long it will take from your offer being accepted until you can move into your house will depend on several factors, e.g. parties involved and their circumstances, Mortgage Lenders carrying out valuations and then issuing a Mortgage Offer, private surveys or problems which may arise from results of local or other searches. The average process takes between 8-12 weeks but please bear in mind that these are approximate timescales only. It can be quicker or slower, depending on the parties in the chain.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. Below we list the key stages:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches and report on the results of the same
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Send final contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you to complete your purchase
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

Purchase of a Leasehold residential property

Legal fees* and disbursements

The average Purchase costs for a property price up to £600,000.00

  • Legal fees £1,350.00 plus VAT
  • Search fees £500.00 approx. (some searches may be subject to VAT)
  • HM Land Registry fee £270.00
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total: £2,432.00

The average Purchase costs for a property price value over £600,000.00

  • Legal fee £0.17% of the price plus £400.00 plus VAT
  • Search fees £500.00 approx. (some searches may be subject to VAT)
  • HM Land Registry fee £270.00
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total for a property valued at e.g. £1,000,000.00: £3,332.00

Anticipated Additional Disbursements in respect of a Leasehold property*

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 to £240.00.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 to £240.00.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 to £250.00.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100.00 to £250.00.

These legal fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of the specific documents.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. Below we list the key stages:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you to complete the purchase
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

Sale of a Freehold residential property

Legal fees* and disbursements

The average Sale costs for a property price up to £600,000.00

  • Legal fee £950.00 plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total: £1,195.20

The average Sale costs for a property price value over £600,000.00

  • Legal fee £0.17% of the price plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person

Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total for a property valued at e.g. £1,000,000.00: £2,095.20

Sale of a Leasehold residential property

Legal fees* and disbursements

The average Sale costs for a property price up to £600,000.00

  • Legal fee £1,150.00 plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total: £1,435.20

The average Sale costs for a property price value over £600,000.00

  • Legal fee £0.17% of the price plus £200.00 plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person
  • Electronic money transfer fee £35.00 plus VAT per transfer

Estimated total for a property valued at e.g. £1,000,000.00: £2,335.20

Anticipated Additional Disbursements in respect of a Leasehold property*

  • Sellers Leasehold Information Pack/Replies to Leasehold Enquiries – these are provided by the Freeholder/Landlord and there are fees associated. We can give you an accurate figure once we have this information from your Freeholder/Landlord.

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 we receive this information.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. Below we list the key stages:

  • Take your instructions and give you initial advice
  • Obtain copies of your title and check for any restrictions on the sale
  • Draft and prepare contract papers for the buyer’s solicitor
  • Receive and reply to any enquiries raised by the buyer’s solicitor (and advise you and take instructions from you accordingly)
  • Obtain a settlement figure for any mortgages on the property
  • Send final contract to you for signature
  • Agree completion date (date you move out of the property)
  • Exchange contracts and notify you that this has happened
  • Complete sale
  • Redeem any mortgages on the property (if applicable)

Remortgage of a Freehold residential property

Legal fees* and disbursements

The average remortgage costs

  • Legal fee £650.00 plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person
  • Electronic money transfer fee £35.00 plus VAT per transfer
  • Search fees £200.00 approx. (some searches may be subject to VAT)
  • Search validation indemnity insurance £20.00 – £100.00

Estimated total: £1,035.20 – with searches
Estimated total: £935.20 with search validation indemnity insurance

Remortgage of a Leasehold residential property

Legal fees* and disbursements

The average remortgage costs

  • Legal fee £750.00 plus VAT
  • Office copy documents £3.00 plus VAT per document
  • ID and AML checks £9.60 per person
  • Electronic money transfer fee £35.00 plus VAT per transfer
  • Search fees £200.00 approx. (some searches may be subject to VAT)
  • Search validation indemnity insurance £20.00 – £100.00

Estimated total: £1,155.20 – with searches
Estimated total: £1,055.20 with search validation indemnity insurance

* Our fee assumes that:

a. 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
b. this is the assignment of an existing lease and is not the grant of a new lease
c. the transaction is concluded in a timely manner and no unforeseen complications arise
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

For further information, please call one of our Conveyancing team who will be happy to provide any additional information you may require. Telephone us on 020 8992 9997.

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