Conveyancing Fees

We are always transparent about our charges and always ensure that you know, from your first contact, what our service will cost. As your matter progresses with us we will keep you updated should our original estimate change.

Our regulator, the Solicitors Regulation Authority, has formed a policy that the profession should be transparent as to fees and disbursements known as the ‘Transparency Rules’ which require all firms that they regulate to publish information about their charges, we support this initiative.

In the majority of transactions we will be able to provide a fixed fee for the work to be undertaken and this will be set out clearly in our initial estimate contained within our Terms of Business that will be issued before we commence work on your behalf.

Occasionally there will be matters that are out of the ordinary and could require further investigations and research to be made when advising you as to the merits of the transaction. If we feel that it will not be possible to provide a fixed fee for this work then we will advise you of our hourly charging rate together with an estimate as to how long it would take to complete the work and an indication based on the expertise of the final cost.

Whether the work is based on a fixed fee or an hourly rate, charges will be subject to VAT at the standard rate.

The following information is provided to comply with this regulation. It does not replace the personal estimate that you will receive before you instruct us to act, setting out all the foreseeable charges in full:

Selling and Buying Charges

Our charges cover all of the work foreseeable at the start of your transaction which will be required to complete the sale and/or purchase for your move including dealing with registration at the Land Registry and the payment of any Stamp Duty Land Tax (Stamp Tax) on properties in England, or Land Transaction Tax (Land Tax) if the property is in Wales. Our basic fees vary according to the amount and complexity of work that we will have to do and the value of your property. Various problems may arise during the transaction which may cause delay and increase costs. For example, the title may be more complicated than anticipated. Our searches and enquiries may reveal something unexpected. There may be a defect in the title and an indemnity policy may be required. The following factors can influence the fee: 1. Whether the property is freehold or leasehold 2. Whether the property is newbuild 3. The value of the property 4. The timescale 5. Whether the land is registered or unregistered 6. Whether the property is in a shared ownership scheme 7. Any lease extension 8. Declaration of trust.

Disbursements: These are costs related to your matter that are payable to third parties. We handle these on your behalf to ensure a smoother process. Those such as Land Registry fees and Stamp Duty Tax will vary in amount according to the purchase price and whether it is a second or additional property (in which case there will be an additional 3% Stamp Tax). Official Copy Entries £3.00 per Document Search Fees £300-450 + VAT Priority Search £3.00 + VAT Bankruptcy Search £2.00 per person AML Check £6.00 + VAT per person Newbuild Property:

Newbuild Property:If you are buying a property in course of construction or fairly recently built we have to charge more because of the more complicated legal work and much larger amount of paperwork invariably involved. The minimum fee for acting on a newbuild property (regardless of price) is £1,550.00 (freehold) or £1,950.00 (leasehold) but this may increase according to price and if the legal work is more complicated or time consuming than we had expected.

Note Regarding Leasehold:

On a leasehold purchase there may be additional charges payable to the Landlord and/or Managing Company such as for Notice of Transfer and/or Charge, Deed of Covenant and Certificate of Compliance. These will only become apparent during the transaction as will the amount of fees charged by the Landlord and/ or Management Company. As a guideline, each fee can range between £50-£250 plus VAT. On a leasehold sale, it is usual to require the landlord and/or managing company to provide information in a management pack re: service charges, insurance etc for which they make a charge – guideline £200-500 plus VAT.

Illustration of Transaction Charges.

Below is an example of estimated charges on a freehold purchase by a first time buyer of an existing (non-newbuild) property in LB of Hillingdon at a price of £400,000: VAT at Standard Rate.

Basic conveyancing fees£ 1350.00 Submission of Stamp Duty Land Tax Return £75.00 2£5.00 Electronic money transfer service fee £36.00 Search agency fees (Council, Water, Environmental and Chancel repair) 237.00 AML Searches (per person) £6 Land Registry Search £3.00 Bankruptcy Search £2.00 Disbursements Land Registry Fee (if submitted online) £150.00 Stamp Duty Land Tax.

The above will be subject to VAT at the standard rate (currently 20%).

Complaints

If, at any time you are unhappy or uncertain as to the fees and disbursements that are being charged or a possible increase in either of these then please feel free to contact us to discuss the matter. If that conversation does not resolve the issue then we have a complaints procedure in place that you can follow, for details of this are shown on a separate page on our website.

Stages of the Process. The precise involved in the purchase of residential property may vary according to the circumstances.

However, below are some of the key stages of the process:

• Taking your instructions and giving you initial advice (including as to joint ownership).
• Checking finances are in place to fund purchase and contact lender’s solicitors if needed
• Receive and advise on contact and Title documents (including on a leasehold the lease itself and service charges and other management information.).
• Carry out searches.
• Make any necessary enquiries of seller’s solicitors.
• Give you advice on all documents and information received
• Go through legal conditions of mortgage offer with you.
• Send final contract to you for signature.
• Agree completion date (the 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 the lender and you.
• Complete the purchase.
• Deal with payment of Stamp Duty Tax/Land Tax.
• Deal with application for registration at the Land Registry. How long will my house purchase take? How long will my house 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 9-14 weeks. It can be quicker or slower, depending on the parties in the chain