Legal fees for buying and selling a home
The fee charged is dependent on the value of the property and the table below sets out our rates:
Our fees cover the work required to complete the purchase of your new home and/or the sale of your existing home, 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.
This above fees are based on a standard transaction relating to a registered title 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. Also that the transaction is concluded in a timely manner and no unforeseen complication arise. Provided that all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
If there should be any complications that arise which might cause work to be incurred or more time is expended than estimated then any additional time would be charged at the appropriate hourly rate and this will be brought to your attention at the earliest opportunity.
Disbursements are costs related to your matter that are payable to third parties such as the Local Authority or Land Registry Fees. We deal with the payment of the disbursement on your behalf to ensure a seamless process.
If you are purchasing a leasehold property, there are certain disbursements which will be referred to in the individual lease relating to the Property. The disbursements which we anticipate will apply for a leasehold property are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
Notice of Transfer fee – This fee if chargeable is referred to in the lease. Often the fee is between £50.00 - £150.00.
Notice of Charge fee (if the property is to be mortgaged) – This fee is often specified in the lease. If not, it is set by the Landlord/management company/managing agent and is usually between £50.00 and £150.00.
Deed of Covenant fee – This fee is set by the management company for the property and can be difficult to estimate. Often it is between £100.00 and £250.00.
Certificate of Compliance fee - To be confirmed upon receipt of the leasehold management pack, and can range between £30.00 – £100.00.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Selling a home additional fees and disbursements
In relation to Leasehold sale transactions there are also additional disbursements for the Management Sales Pack or the Landlord Sales Pack. We can confirm these fees once we have been in contact with the Managing Agents and the Landlord.
How long will my purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8 to 12 weeks, however, the process can be quicker or slower depending on many variables such as the parties in the chain, mortgage lender requirements and search results.