INFORMATION ABOUT RESIDENTIAL CONVEYANCING CHARGES

To assist with the budgeting of any residential conveyancing transaction we have set out below for indicative purposes only what a typical standard sale and purchase transaction would cost depending upon the value of each property. The fees have been calculated on the basis of an unconditional contract and the property being sold or bought with vacant possession and assuming that completion takes place on the date agreed in the contract.

Although each conveyancing transaction is unique, the exact number of hours it would take to complete the transaction may differ significantly and whenever possible we will agree to act on the basis of a fixed fee in accordance with the scales shown below.

Quotes for Sale

Up to £150,000.00	Our fees:	£725.00	Plus VAT:	£145.00
£150,001.00 to £250,000.00	Our fees:	£825.00	Plus VAT:	£165.00
£250,001.00 to £350,000.00	Our fees:	£875.00	Plus VAT:	£175.00
£350,001.00 to £500,000.00	Our fees:	£925.00	Plus VAT:	£185.00
£500,001.00 to £700,000.00	Our fees:	£975.00	Plus VAT:	£195.00
Over £700,000.00	Our fees:	0.2% of the property value (we will provide you with a customised quote on request)	Plus VAT:

Quotes for Purchase

Up to £80,000.00	Our fees:	£725.00	Plus VAT:	£145.00
£80,001.00 to £100,000.00	Our fees:	£775.00	Plus VAT:	£155.00
£100,001 to £200,000.00	Our fees:	£825.00	Plus VAT:	£165.00
£200,001.00 to £300,000.00	Our fees:	£875.00	Plus VAT:	£175.00
£300,001.00 to £500,000.00	Our fees:	£975.00	Plus VAT:	£195.00
£500,001.00 to £700,000.00	Our fees:	£1,125.00	Plus VAT:	£225.00
Over £700,001.00	Our fees:	0.2% of the property value (we will provide you with a customised quote on request)	Plus VAT:

Quotes for Re-Mortgage and Transfer of Equity

Re-Mortgage

Our fees:

£600.00

Plus VAT:

£120.00

Transfer of Equity

Our fees:

£600.00

Plus VAT:

£120.00

Transfer of Equity and Re-Mortgage

Our fees:

£700.00

Plus VAT:

£140.00

Costs/Services included in the above fees at no extra charge:

Completing HMRC SDLT return
Simultaneous exchange and completion
Dealing with occupier’s consent form
Dealing with a gifted deposit
Dealing with and drafting a key undertaking agreement
Dealing with and providing indemnity insurance policy
Paying a mortgage broker’s fee
Paying Estate Agency fee
Redeeming First Legal Charge
Verifying ID

Additional Costs Schedule

Listed Below is a Schedule of additional costs that may be incurred in certain transactions and these costs will reflect the particular requirements of your individual sale, purchase or re-mortgage transaction. On occasion the location of a property may also result in additional costs being incurred. However on these occasions we will notify you of the additional costs at the point in time we become aware of them.

VAT charges

(VAT is to be added at the prevailing rate) VAT is charged at the current rate of 20%

Unregistered Land	£300.00
Leasehold Title	£300.00
Additional Legal Charges (per charge)	£75.00
Dealing with Third Party lawyers	£200.00
Dealing with freehold or leasehold Management Company	£100.00
Drafting Deed of Covenant	£100.00
Drafting a Declaration of Trust	£250.00
Dealing with Help to Buy ISA accounts and bonuses (per person)	£50.00
Drafting Licence to Occupy	£100.00
Drafting Notice to Complete	£150.00
New Build purchase	£300.00
Help to Buy/Equity Mortgage	£300.00
Help to Buy Forces Loan/Promissory Note	£100.00
Electronic Transfer of funds (CHAPS)	£30.00
Anti-Money Laundering Searches (AML) per person	£6.00

Legal Searches

Most purchase and Re-mortgage transactions it will be necessary to undertake legal searches to comply with Lender’s requirements. The costs involved in obtaining the legal searches can vary depending on the locality of the property, but on a standard residential conveyancing purchase transaction the cost of providing these searches is approximately £150.00 inclusive of VAT. This will include a regulated Local Authority Search, Environmental Search and a Water and Drainage Search. Additional searches may be required, for example if the property is within an area of historical coal mining or mineral extraction. If it is necessary to undertake additional searches you will be advised in advance as to the additional costs incurred.

It is not always necessary to undertake the full set of legal searches on a Re-Mortgage transaction and certain Lenders will allow us to obtain a policy of insurance as an alternative. In these situations we would advise you as to the cost of obtaining such a policy, which depends primarily on the value of the property.

In addition to the above search fees it is usually necessary to undertake H.M. Land Registry searches immediately prior to exchange of contracts or completion and for a typical transaction the fee is £2.00 per person and £3.00 for a search to obtain priority for the Lender/Purchaser.

Land Registration fees

Land Registration fees payable on purchase transactions:-

Value or Amount	Fee (if able to submit electronically)	Fee (if unable to submit electronically)
£0 – £80,000.00	£20.00	£45.00
£80,001.00 – £100,000.00	£40.00	£95.00
£100,001.00 – £200,000.00	£100.00	£230.00
£200,001.00 – £500,000.00	£150.00	£330.00
£500,001.00 – £1,000,000.00	£295.00	£655.00
£1,000,001.00 and over	£500.00	£1,105

Stamp Duty Land Tax

Stamp Duty Land Tax is payable on certain transactions at the prevailing rate that becomes due and payable on completion. In certain transactions additional tax (the higher rate) may be due if for instance you are buying two or more properties or you are not replacing your main residence. Once we have full details of your specific purchase transaction we will provide you with a written estimate of the anticipated stamp duty payable.

Although the vast majority of transactions proceed to completion, on those occasions when this is not possible, the fees that we will subsequently charge will be based on a fair and reasonable assessment of the work carried out on your behalf up to the point in time that the matter went abortive. Any fees that we charge will not exceed the original fees quoted.

On a synchronised residential sale and purchase transaction (moving from your former home to your new home on the same day) we are generally able to complete most transactions within four to eight weeks of receiving instructions. This predicted timescale can vary depending on any other transactions that are “in the chain” or for example where there are any unforeseen legal or physical issues arising out of the legal search results or indeed the physical survey result.

If a specific completion date must be achieved, i.e. purchasing a property at auction or from a Mortgagee in Possession then it is essential that we are notified immediately we receive instructions from you.

Although the above fees and costs illustration provide guidance as to the financial implications associated with any purchase, sale or re-mortgage transaction, you should not hesitate to contact our Conveyancing Department to discuss any questions or queries you may have, or indeed to obtain a bespoke estimate for any unusual or legally complex transaction that you are considering.