Conveyancing Pricing Information

Selling Residential Property

*Fee example based on sale of residential property value £195,000

Please note that our conveyancing fees may increase in relation to the property value.

Conveyancing Fees	£750 plus VAT thereon £150
ID Search	£10 plus VAT thereon £2

In addition there will be the following disbursements:

Official Copy entries	£12
Telegraphic Transfer Fee	£35 plus VAT thereon £7

Deeds

We will obtain official copies and plans and any documents downloadable from the Land Registry at no charge (save for the land registry fees) it is though your responsibility to provide us with the remainder of the deeds eg planning permissions, building regs certification, NHBC documentation, FENSA certification,106 Agreements, s38 Agreement.

If we need to obtain these from local authorities or other solicitors, we will make charges of £20 + Vat per document in addition to their fees for providing to us

Please note though we cannot control how quickly these outside agencies provide these documents.

Missing Documentation and Errors in Title

There may be documentation within the title to your property which is either missing or does not exist, which result in defects in title. eg missing rights of way, missing documentation.

Many of these can be resolved by putting in place indemnity policies, if we do need to put any of these in place we will make a charge of £25 + VAT.

How long will my application take?

It is difficult to estimate how long the conveyancing process will take, but typically we anticipate it will take four to twelve weeks to complete a property sale. If this varies in any way significantly during the course of your transaction. we will update you as to the likely date of completion at the earliest possible opportunity.

Purchasing Residential Property

*Fee example based on purchase of residential property value £195,000

Please note that our conveyancing fees may increase in relation to the property value.

Our Professional Charges	£750 plus VAT thereon £150
Telegraphic Transfer Fee	£35 plus VAT thereon £7
ID Search Fee	£10 plus VAT thereon £2
Completion of SDLT Return	£60 plus VAT thereon £12
Searches	Approx £110

Disbursements

The Land Registry fee on completion	£190
Stamp Duty*	£1,399*
Land Registry Search Fee	£3
Bankruptcy Search fee	£4

Stamp Duty

Stamp Duty has been calculated at the rates at this time and on the basis that this is not the purchase of a second home or buy-to-let property. If this is not the case please let us know as different Stamp Duty rates will apply.

Since the budget in November 22^nd 2017 purchases by first time buyers are exempt from SDLT if the purchase price is below £300,000.00

If this does apply to you will not be required to pay the Stamp Duty detailed above.

In order to count as a first time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world.

This includes previous acquisitions by inheritance or gift, or by a financial institution on behalf of a person under an alternative finance scheme.

Relief is not denied by virtue of a previous acquisition as a trustee unless the purchaser was also a beneficiary of the trust.

Relief is also not denied if the purchaser owns or has previously owned non-residential or mixed-use property, as long as that property did not include a dwelling.

This restriction does not apply where the interest acquired was the grant or assignment of a lease with less than 21 years to run.

If the property is purchased jointly, all the purchasers must meet these conditions.

Shared Ownership

If you are purchasing your property on a shared ownership basis then there will be additional legal fee of £150 + vat for the additional works and registration formalities involved.

Other

In addition to the above you may have to pay your lenders legal fees and payments to other parties e.g. your building society or other lender for their survey and other fees, or your surveyor and you should check with them the amounts they will require, inclusive of VAT where appropriate.

We will act as your “tax agent” for the purposes of SDLT in connection with your purchase. This means that we will complete the Land Tax Return form on your behalf, and we will submit the return online. By agreeing to our terms and conditions, you are also agreeing to authorise us to enter the date of completion of your purchase as the effective date of the transaction for the purposes of SDLT. We will submit the form electronically to HM Revenue and Customs, together with your payment of the tax due, immediately after completion has taken place.

Expedited Completion

If you require us to complete your purchase within 5 working days of us receiving your mortgage offer there will be an additional fee payable to arrange funds release from your lender and an expedition fee of £100 + vat will be payable.

Help to Buy ISA

If you are buying with the assistance of a Help to Buy ISA there will be an additional drawdown fee payable of £50 + vat. Please note this fee is payable for each Help to Buy ISA we drawdown. This will be added to the final completion statement.

Lifetime ISA

If you are buying with the assistance of a Lifetime ISA there will be an additional drawdown fee of £50 + VAT for each Lifetime ISA we drawdown.

Forces Help to Buy

If this purchase is being funded by way of a Forces Help to Buy Loan our legal fees for dealing with this will be £95 plus VAT.

Gifted Deposit

If you are receiving a gifted deposit from a family member or another party in we will have to carry out additional checks on the identity of the donors and the source of these funds, there will therefore be an additional fee of £50 + VAT payable upon completion for each donor.

Please note your lender may require a bankruptcy search to be undertaken against each person making the monetary gift, bankruptcy searches are £2 per person and if required the amount for the search will be added to the final completion statement.

Surveys

If the Property is new build the survey is not really necessary as the property will have the benefit of a New Build guarantee (e.g. Zurich or NHBC) which guarantees the structure of the Property. If you have a mortgage lender assisting you with your purchase, they will carry out a valuation of the property as part of your mortgage application.

Searches

Although we have obtained the local search, it is important that you realise the limitations on the result of the search. Whilst some matters, for example possible road developments within 200 metres of the property are covered, no planning information that does not specifically relate to the property you are acquiring will be revealed. If you are concerned about possible development in the surrounding area, you should contact the local planning authority direct. If you have any further queries about what is and is not covered by the search, please let me know.

We do not carry out individual searches on each plot of the development but have carried out the searches your lender requires to purchase your new property on the whole development (including your property) and our fees for provision and reporting on these searches are detailed above.

Updates

It is common in transactions for us to keep interested parties e.g. site offices/estate agents updated with the progress of your purchase, to assist in moving it to a prompt conclusion. Please let us know if you do not wish us to do this.

Tax implications

Whilst we will be dealing with the legal aspects of this transaction to ensure that the legal estate is transferred validly, we are not in a position to advise you on any possible tax consequences of the transaction. If you are concerned that there may be such consequences, we would strongly advise you to seek the assistance of an accountant.

NHBC

Following completion if you require us to register the NHBC guarantee on your behalf then there will be an administration fee of £50 + vat

Mortgages & Re-mortgages

Professional fees– Mortgage & Re-mortgages	£395 +VAT
Additional fee to include Transfer of Equity	£95 +VAT

Where required, VAT is currently charged at 20%

Our Property Team

Our team has many years of collective experience in delivering high quality work in all matters relating to Property Transactions. The team has particular expertise in new build property conveyancing and dealing with the specific complexities associated with new build homes compared to the sale or purchase of existing property.

We have many members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by Elton Ashworth, Managing Director and Head of our Property Department.