
CONVEYANCING AND PROBATE FEES
Purchase of a freehold residential property Blick & Co
When we are instructed to act for a client in a conveyancing matter fees vary dependent upon the value of the property involved. As a general rule our fees are between .25% and .5% of the property price with a minimum fee of £850.00 plus VAT.
However, as an example a purchase of a freehold property at £750,000 for private individuals the estimated fees would include all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (LTT) if the property you wish to buy is in Wales.
Conveyancer’s fees and disbursements
- Legal fee £1875-£3750 plus VAT
- Search fees £450 approximately (please note that some searches are subject to VAT)
- HM Land Registry fee £270-£540 (this is dependent upon whether the property is already registered at Land Registry)
- HM Land Registry Searches of £2.00 plus VAT per person and £3.00 plus VAT per title number
- Electronic money transfer fee £35 plus VAT for each transfer
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.
The amount of Stamp Duty Land Tax payable will vary dependent upon the purchasers’ individual circumstances, i.e. if they are first time buyers, a company or already own property either in the UK or anywhere else in the world.
Additional fees
There may be circumstances where the fees may change (the list below is not exhaustive).
- Purchase in the name of a Company
- Using the Help to Buy scheme
- Purchase at auction
- Purchasing a property which has been repossessed
- Where the mortgage lender is separately represented
- Arranging bespoke indemnity insurance
- New build properties
- Shared ownership properties
- The legal title is defective
- There are issues with building regulation approval or planning permission
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 8 – 10 weeks but it can be quicker or slower, depending on the parties in the chain.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances.
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation, if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature (or obtain your authority to sign on your behalf)
- Draft Transfer
- Advise you on joint ownership
- Obtain pre-completion searches
- 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
- Deal with application for registration at Land Registry
Purchase of a leasehold residential property
Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (SDLT) if the property is in England or Land Transaction Tax (LTT) if the property is in Wales.
As a general rule our fees are between .25% and .5% of the property price with a minimum fee of £850.00. plus VAT.
However as an example a purchase of a leasehold property at £750,000 for private individuals the estimated fees would include:
Conveyancer’s fees and disbursements
- Legal fee £1,875 – £3,750 plus VAT
- Search fees £450 approximately (please note that some searches are subject to VAT)
- HM Land Registry fee £270 – £540 (this is dependent upon whether the property is already registered at HM Land Registry
- HM Land Registry Searches of £2.00 plus VAT per person and £3.00 plus VAT per title number
- Electronic money transfer fee £35 plus VAT for each transfer
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply 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.
Anticipated disbursements*
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £30 – £350
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £30 – £350
- Deed of Covenant fee or a Licence to Assign – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £350 – £1,500.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £200 – £500.
*These fees vary from property-to-property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge 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.
Stamp Duty Land Tax
This depends on the purchase price of your 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’s website.
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances.
Stages in the process
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation, if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer
- Send final contract to you for signature (or obtain your authority to sign on your behalf)
- Draft Transfer
- Advise you on joint ownership
- Obtain pre-completion searches
- 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
Additional fees
There may be circumstances where the fees may change (the list below is not exhaustive).
- A purchase in the name of a Company
- Using the Help to Buy scheme
- Purchase at auction
- Purchasing a property which has been repossessed
- Where the mortgage lender is separately represented
- Arranging bespoke indemnity insurance
- New build properties
- Shared ownership properties
- The legal title is defective
- There are issues with building regulation approval or planning permission
How long will my house purchase take ?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 10-12 weeks but it can be quicker or slower, depending on the parties in the chain. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer.
Our fee assumes that:
- this is a standard transaction 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
- this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complications arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Re-mortgage or mortgage of a freehold/leasehold residential property
When we are instructed to act for a client in a Conveyancing matter are fees are calculated by reference to the time spent on the matter by members of the firm; the hourly rates of the members of the Residential Property Team. Details of the hourly rates of the relevant individual members of the team will be provided to the client at the outset.
Dependent upon, the location, complexity and urgency, fees, will vary. However, as an example, a re-mortgage of a freehold property at £750,000 for private individuals the estimated fees would cover all of the work required to complete your re-mortgage/mortgage, including dealing with registration at the Land Registry.
Conveyancer’s fees and disbursements
- Legal fee £750-£2000 plus VAT
- Search fees £300 approximately (please note that some searches are subject to VAT) if required
- HM Land Registry fee £60.00
- HM Land Registry Searches of £2.00 plus VAT per person and £3.00 plus VAT per title number
- Electronic money transfer fee £35 plus VAT
- If the property is leasehold it will be necessary to obtain information from the managing agents or management company, as soon as we are aware of this cost we will advise however they are generally in the region of £300-£500 plus VAT
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Additional fees
There may be circumstances where the fees may change (the list below is not exhaustive).
- A re-mortgage/mortgage in the name of a Company
- Arranging bespoke indemnity insurance
- The legal title is defective
- There are issues with building regulation approval or planning permission
How long will my re-mortgage/mortgage take ?
The average process takes between 4–6 weeks but it can be quicker or slower, depending on the circumstances.
Stages of the process
The precise stages involved in the re-mortgage/mortgage of a residential property vary accordingly to the circumstances.
- Take your instructions and give you initial advice
- Carry out searches (if required)
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Arrange for all monies needed to be received from lender and you
- Complete re-mortgage/mortgage
- Deal with application for registration at Land Registry
Sale of a freehold/leasehold residential property
When we are instructed to act for a client in a conveyancing matter fees vary dependent upon the value of the property involved. As a general rule our fees are between .25% and .5% of the property price with a minimum price of £750.00.
For example a sale of a property for private individuals at a sale price of £750,000;
Conveyancer’s fees and disbursements
- Legal fee £1875-£3750 plus VAT
- Copy title documents from H M Land Registry £12.00
- Electronic money transfer fee £350 plus VAT per transfer
- Leasehold properties will require us to obtain a sales pack from the managing agents/management company. Prices vary but can be between £150 – £500 plus VAT
- Selling Agent’s fees usually between 1% and 3.5% of the sale price plus VAT
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Additional fees
There may be circumstances where the fees may change (the list below is not exhaustive).
- Redemption of a Help to Buy loan
- Where the mortgage lender is separately represented
- Arranging bespoke indemnity insurance
- Shared ownership properties
- The legal title is defective
- There are issues with building regulation approval or planning permission
How long will my house sale 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 – 10 weeks but it can be quicker or slower, depending on the parties in the chain.
Stages of the process
The precise stages involved in the purchase of a residential property vary accordingly to the circumstances.
-
- Take your instructions and give you initial advice
- Receive and advise on contract documents
- Obtain further planning documentation, if required
- Deal with enquiries raised by the buyer’s solicitors
- Give you advice on all documents and information received
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Complete sale