Property sales (freehold)
The fees quoted below cover all the work required to complete the sale of your house including dealing with the Land Registry and paying off the mortgage(s) (if any).Sale price up to £120,000
- £665 + VAT (currently 20%) (thus £798.00) + disbursements
Sale price between £120,001 and £200,000
- £695 + VAT (currently 20%) (thus £834.00) + disbursements
Sale price between £200,001 and £275,000
- £695 + VAT (currently 20%) (thus £834.00) + disbursements
Sale price between £275,001 and £320,000
- £735 + VAT (currently 20%) (thus £882.00) + disbursements
Sale price between £320,001 and £395,000
- £795 + VAT (currently 20%) (thus £954.00)+ disbursements
Sale price between £395,001 and £465,000
- £850 + VAT (currently 20%) (thus £1,020) + disbursements
Sale price between £465,001 and £750,000
- £920 + VAT (currently 20%) (thus £1104) + disbursements
Sale price between £750,000 and £995,000
- £1450 + VAT (currently 20%) (thus £1740) + disbursements
Sale price over £995,000
- 0.16% of the sale price + VAT (currently 20%) + disbursements
The figures quoted above assume a straight forward transaction without any unforeseen issues. If the matter becomes complex, there will be an additional fee, some examples of which include:
Where the property is leasehold
Where there are solar panels
Where the title to the property is not registered at H M Land Registry
Where the transaction is required to be expedited
Lock in/exclusivity agreements
Where is it necessary to arrange one or more indemnity policy / policies in respect of defect(s)
Property Sales Disbursements
Disbursements are costs that are payable to third parties such as the Land Registry.The following comprise the usual disbursements:
Land Registry fees – normally between £6.00 and £12.00
Bank transfer fees – normally between £3.00 and £24.00 (including VAT – currently 20%)
Electronic ID check - £6.60 per person (inc VAT)
To assist with regards to likely total fees, we set out below an example of a typical sales and an example of a typical purchase.
Residential Conveyancing Fees
Example 1 – Freehold Sale
for £220,000 with registered title, subject to a mortgage |
|
| Fees: |
|
| Conveyancing Fee |
£695.00 |
| V.A.T |
£139.00 |
| Electronic ID Check (couple selling) |
£13.20 |
| Land Registry Fee |
£9.00 |
| Bank Transfer Fee |
£3.00 |
| Total |
£871.20 |
Example 2 – Freehold purchase
for the sum of £195,000 (not new-build or leasehold) |
|
| Fees: |
|
| Conveyancing Fee |
£690.00 |
| V.A.T |
£138.00 |
| Electronic ID Check (couple selling) |
£13.20 |
| Local Authority, Drainage, Mining, & Environmental searches (standard searches) |
£275.50 |
| Bankruptcy Searches (Fees) |
£4.00 |
| Land Registry Search Fee |
£3.00 |
| Bank Transfer Fee |
£3.00 |
| Land Registry Registration Fee |
£100.00 |
| Stamp Duty Land Tax (assuming not a second property) |
£0.00 |
| TOTAL |
£1,226.70 |
We appreciate that anyone buying or selling a home would like as much information as possible at the outset as to how long the transaction is likely to take.
Regrettably, providing information as to the likely completion date is as far removed as an exact science as may be possible.
There are numerous factors involved which could affect the timescale not least the length of the chain.
There is much truth in the adage that a conveyancing chain is only as strong as the weakest link in the chain.
What is meant by this is that if someone in a conveyancing chain is having difficulties such as providing a mortgage lender with all the requisite documentation to enable the mortgage lender to consider the issuing of a mortgage offer then this holds everyone else up.
Likewise, the respective parties in a chain may not instruct their solicitors all at the same time. For example, the top of the chain an executor who is selling a property in a deceased estate may not have any personal/emotional (as opposed to financial) investment in the transaction and may be more laissez-faire in instructing their solicitors whereas the party at the bottom of the chain, first time buyers who have fallen in love with their first property are extremely keen to get into their first property.
As such, the best information that we can give is that the transaction could take anywhere between 8 and 20 weeks to complete ( or even longer if there is some undue complication that requires rectification before the matter can proceed such as having to make an application to the Land Registry to rectify a defect in the register of title).
We understand that anyone buying and / or selling a house generally speaking would like to complete as soon as possible. We could boast that we can complete faster than anyone else but we prefer to be honest and up-front so as not to lead to huge dissapointment
Please be aware that the speed at which a chain progresses is largely outside our hands although we will do our best to speed the transaction up if this is potentially possible
