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Residential Conveyancing

Our charges: buying and selling residential property

WE DO NOT PAY REFERRAL FEES TO ESTATE AGENTS OF OTHER INTROCUCERS

How much do we charge?

You can find full details of how we calculate our conveyancing charges below. For a quotation specifically tailored to your case please just drop us an email at info@ewlaw.co.uk and we can give you an accurate quotation.

Our charges are made up of:

a)    our fees for the legal work;

b)    ‘disbursements’ - disbursements are costs related to your matter that are payable to other people, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process; and

c)    for property purchases, Stamp Duty Land Tax (see below).

Where VAT is referred to below please note that this will be charged at the applicable rate, which is currently 20%.

Our fees

Our fees depend upon the value of the property you are buying or selling and are listed below:

Property value                      SALE                       PURCHASE

Up to £125,000                      £500                      £650

£125,001 to £250,000          £600                      £750

£250,001 - £500,000            £850                      £950

£500,000 Upwards               Please call us

Please note that VAT of 20% is also charged on all of our fees for legal work.

If you are buying and selling a property then a charge would be made for both the sale and the purchase. If you are simply re-mortgaging your property our fees for up to £250,000 = £450 + VAT @ 20%, over £250,000 £550 + VAT @ 20%. 

If you are buying, selling or re-mortgaging a ‘leasehold’ property (rather than a ‘freehold’) then there is an additional charge of £250 - £500 + VAT @ 20%. 

If, at any point during the transaction, money needs to be sent by telegraphic transfer, we charge a fee of £25 + VAT @ 20%.

If you are buying a property we will complete the HMRC stamp duty form on your behalf and submit it at the completion of the transaction. This is already included in our conveyancing charges.

Disbursements

The ‘disbursements’ which you pay will depend upon whether you are buying or selling property or both, whether you are buying a freehold or leasehold property and the location and type of property concerned. Properties in certain locations for example need more searches and checks than others. Many disbursements are not subject VAT.

Normally all clients who are buying a ‘freehold’ property will need to pay the following disbursements:

• Search fees approximately £400 inclusive of VAT @ 20%
• HM Land Registry fee of between £20 - £500
•  Land Charges Search of between £2 - £4 per name.
• Land Registry Search £3 per title number.

Depending upon the type of property you are buying and where it is located you may also need to pay:

·      Coal Authority Search of approximately £40 - £50

When selling a property, you will ordinarily need to pay the following disbursements:

·      Land Registry Office Copy Entries and Title Plan and filed document at £9 per title

       number.

If the property is a ‘leasehold’ property then the disbursements will be different and normally consist of: The fees given below are an approximation as the exact fees will be set by the Landlord or Management Company

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100 – 200 + VAT @ 20%
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is £100 – 200 + VAT @ 20%
• 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 – 200 + VAT @ 20%
• Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £100 – 200 + VAT @ 20%
• Leasehold Management Pack and replies to LPE1 enquiries – This fee is chargeable when selling a leasehold property. Often it is between £200 – 600 + VAT @ 20%

        If there is a Landlord and a Management Company 2 packs may be required.

• Admin fee to update ownership records and issue Membership Certificates £100 – 200 + VAT @ 20%

If you are simply remortgaging then we do not anticipate you incurring any disbursements [except for Notice, Deed of Covenant and Certificate of Compliance fees in line with the above for leasehold properties only.

Stamp Duty Land Tax (SDLT)

If you are buying a property you will also need to pay stamp duty land tax. The amount which you need to pay to the government depends on the price of the property. You can 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 website).

Other costs to consider

If you have a mortgage on the property or have incurred an estate agent’s fee we would also typically need to pay the money owed directly to your lender and agent from the sale money we receive for you.

You should also be aware that if you are purchasing a leasehold property then 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 we receive this information.

Anti-money Laundering (AML)

We will always need to check your identity and your source of funds to comply with strict Law Society AML Rules.

Examples of our charges

The table below is a typical example of the approximate charges we would make to the client selling a freehold property for £300,000.00:

 
Our legal fees of £850 + VAT @ 20%

Fee for redemption of Mortgage (if applicable) £50 + VAT @ 20%

Telegraphic Transfer Admin Fee (assuming only one transfer) £25.00 + VAT @ 20%

Office Copy Entries £9.00 + VAT @ 20%

AML Search Admin Fee (per name) £10.00 + VAT @ 20%

TOTAL:  £944.00 (+ VAT @ 20%   = £187.00) = £1131.00

Whereas the table below is a typical example of the approximate charges we would make to a client buying a new property for £350,000.00 in the Derby area:

Our legal fees of £ 950.00 + £ VAT @20%

Search fees (approx.) £400.00 + £ VAT @20%

Telegraphic Transfer Admin Fees 25.00 + £ VAT @20%

AML Search Admin Fee (per name) £10.00 + £ VAT @20%

Stamp Duty Land Tax Admin Fee Land Registry Fee (assuming benefit of LR online discount)

 £150.00  + £ VAT @20%

Office Copy Entries No Charge

 Land Registry Search £3.00

 Land Charges Search £2.00 per name

 HMRC Stamp Duty £5,000.00

  TOTAL: £ 6540.00 ( + £ VAT @20% = £197.00) = £6737.00

Additional Fees of £45 plus VAT will be incurred if any monies are being provided as a gifted deposited.

How long will my house sale / purchase take?

How long it will take from your offer being accepted to completion will depend on a number of factors. The average process takes between 12 and 16 weeks.

It can be quicker or slower, depending on the parties in the ‘chain’. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle and the transaction goes smoothly it could take as little as 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such a situation additional charges would apply.

What legal work will you be doing for me?

The precise stages involved vary according to the circumstances. However typically in a property sale we need to do the following:

• Take your instructions and give you initial advice
• Receive and advise on sale contract documents where applicable
• Carry out searches on the property you are buying where appropriate
• Give you advice on all documents and information received
• Arrange appointment for you to sign contract
• Agree completion date (date from which you will no longer own the property)
• Exchange contracts and notify you that this has happened
• Complete the transaction

In a property purchase we need to do the following:

• Take your instructions and give you initial advice
• Check finances are in place to fund purchase where applicable and contact lender's solicitors if needed
• Carry out searches on the property you are buying where appropriate
• Obtain further planning documentation if required
• Make any necessary enquiries of seller's solicitor where applicable
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Arrange an appointment to review all paperwork and obtain your signature to documentation
• 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
• Complete purchase
• Deal with payment of Stamp Duty Land Tax
• Deal with application for registration at Land Registry

If we are simply helping you to remortgage your property then we would generally speaking only need to:

• Take your instructions and give you initial advice
• Carry out searches on the property you are buying where appropriate

·        Obtain further planning documentation if required and send to you remortgage enquiries.

·        Go through conditions of mortgage offer with you.

·        Arrange appointment for you to sign documentation

·        Apply for mortgage advance.

·        Redeem any previous mortgages

·        Deal with application for registration at the Land Registry.

It would not normally be necessary to undertake other work or incur other costs other than those described above. However, we would be very happy to provide you with a more tailored quote for all stages of your particular case once we know about your specific circumstances.

Who will be dealing with my matter?

Your conveyancing transaction will be handled by a trusted member of our experienced conveyancing team. We have a qualified lawyer in the team as well as an experienced paralegal specialised in this area of law. Once we know who will be handling your case for you we will introduce you to them and provide you with full details of their background and qualifications. Full details of the experience and qualifications of our team are available on our website including the types of work normally undertaken. 

Regardless of who is working on your case the matter will be supervised by one of our partners:

Nadine Waldron

Partner

Nadine Waldron heads up our Private Client and Conveyancing teams. Nadine was admitted as a solicitor 01/10/76 and is a Partner. She is a full member of the Society of Trust and Estate Practitioners (STEP).  She has 47 years of experience in Private Client and Conveyancing work.

Julie Tempest

Conveyancer

Julie is a part qualified legal executive holding Diplomas in Conveyancing (2006) and Land Law (2008). She has over 30 years experience in residential conveyancing work. Her main role is to deal with enquiries and any 'title' issues which arise and to take the matter to exchange of contracts. 

Sheila Liversage

Conveyancing Secretary

Sheila has over 40 years experience as a freehold domestic conveyancing secretary. Her main roles are to deal with the giving of estimates, setting up matters (including client due diligence), general progression of the case and then, after exchange of contracts, to deal with the completion arrangements and subsequent registration of title.