PRICE INFORMATION FOR SALES, PURCHASES AND RE-MORTGAGES

Our Residential Conveyancing Team fees cover all of the work required to complete the sale of your property or the purchase of your new home, including 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. Below we set out the price information followed by the key stages involved in a sale, a purchase and a re-mortgage.

Please note the below applies to residential conveyancing only (i.e. the sale or purchase of an existing property). If you are buying or selling a shared ownership property please see our Shared Ownership/New Build Fees at the following link:   https://prince-evans.co.uk/shared-ownership-acquisition-and-disposals/

How long will it take?

How long it will take from an offer being accepted until you can complete on your sale and/or purchase will depend on a number of factors outside of our control (such as the length and progress of any chain). The average process takes between 8-12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer.

The average process for a re-mortgage is approximately 4-8 weeks.

SALE – PRICE AND SERVICES INFORMATION

PRICEFREEHOLD FEELEASEHOLD FEE
£0-250k£895 plus VAT£995 plus VAT
£251-£500k£995 plus VAT£1095 plus VAT
£501k-£1 million£1095 plus VAT£1195 plus VAT
£1million +Fee is 0.1% of the price

(Example £2 million sale price would be £2000 plus VAT)

Fee is 0.125% of the price

(Example £2 million sale price would be £2500 plus VAT)

 

Disbursements and Additional Fees

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.

Leasehold Pack from your Landlord/Management Company (if leasehold) – EstimatedBetween £150-£350 plus VAT
Land Registry Official Copy Entries (Freehold)£6.00
Land Registry Official Copy Entries (Leasehold)£15.00
Any additional Land Registry documents if required£6.00 per document
Electronic Money Transfer Fee (per transfer)£30.00 plus VAT
Archiving Fee£10.00 plus VAT
Electronic ID Check (per name)£5.00 pus VAT
Lawyer Checker£10.00 plus VAT

The Key Stages of a Sale:

The precise stages involved in the sale of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your sale are:

  • Take your instructions and give you initial advice
  • Obtain copies of your title and check for any restrictions on the sale
  • Draft and prepare contract papers for the buyer’s solicitor
  • Receive and reply to any enquiries raised by the buyer’s solicitor (and advise you and take instructions from you accordingly)
  • Obtain a settlement figure for any mortgages on the property
  • Send final contract to you for signature
  • Agree completion date (date you move out of the property)
  • Exchange contracts and notify you that this has happened
  • Complete sale
  • Redeem any mortgages on the property

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
  • 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

Please contact us for a personalised fee estimate at resi@prince-evans.co.uk or on Tel: 020 8567 3477. However, by way of a an example of a fee estimate if you are a mortgage-free sole proprietor of a freehold property in England selling at £850,000 your estimated total (as at December 2018) would be:

Legal fee£1095 plus VAT of £219
Land Registry Official Copy Entries£6.00
Electronic Money Transfer Fee£30.00 plus VAT of £6
Archiving Fee£10.00 plus VAT of £2
Electronic ID check£5.00 plus VAT of £1
Total£1374.00

 

PURCHASE – PRICE AND SERVICES INFORMATION

PRICEFREEHOLDLEASEHOLD
£0-250k£995 plus VAT£1095 plus VAT
£251-£500k£1095 plus VAT£1295 plus VAT
£501k-£1 million£1195 plus VAT£1350 plus VAT
£1million +Fee is 0.125% of the price

(Example £2 million purchase price would be £2500 plus VAT)

Fee is 0.15% of the price

(Example £2 million purchase price would be £3000 plus VAT)

 

Additional Fees and 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.

Search Fees (Estimated)

(includes Local Search, Drainage Search, Environmental Search and Chancel Repair Insurance) (inc. VAT)

 

 

£200.00

Stamp Duty Land Tax (SDLT) (*see note below*)

This depends on the purchase price of your property.

 

£x

 

 

Land Registration Fees for a purchase of £80-£100k

Land Registration Fees for a purchase of £100-£200k

Land Registration Fees for a purchase of £200-£500k

Land Registration Fees for a purchase of £500k – £1 mil

 

£80.00

£190.00

£270.00

£540.00

Land Registry Search Fees (inc. VAT)£3.00 plus VAT
Land Charges Search – per name£2.00 plus VAT
If Leasehold Notice of Transfer/Charge on the Landlord – Estimated£75-£200 plus VAT
Help To Buy ISA (if applicable)£50.00 plus VAT
Electronic Money Transfer Fee (per transfer)£30.00 plus VAT
Archiving Fee£10.00 plus VAT
Electronic ID Check (per name)£5.00 pus VAT
Lawyer Checker£10.00 plus VAT

*SDLT:

  • 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.
  • A 3% SDLT additional charge is payable if you are buying a second home (outright sale)
  • First Time Buyers Relief may be claimed for purchases under £500k provided you meet the eligibility criteria

The Key Stages of a Purchase

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your purchase are:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase
  • 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
  • Report to you on the mortgage offer
  • 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
  • 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

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

Please contact us for a personalised fee estimate at resi@prince-evans.co.uk or on Tel: 020 8567 3477. However, by way of a an example of a fee estimate if you are a mortgage-free sole purchaser of a freehold property in England priced at £850,000 your estimated total (as at December 2018) would be:

Legal fee£1,195 plus VAT of £239
Search fee (estimated)£200.00
Land Registry Official Copy Entries£6.00
Land Registration Fee£540.00
Land Charges search£2.00 plus VAT of £0.40
Electronic Money Transfer Fee£30.00 plus VAT of £6.00
Archiving Fee£10.00 plus VAT of £2.00
Electronic ID check£5.00 plus VAT of £1.00
Total£2,116.40
Plus SDLT£32,499.95
Grand Total£34,616.35

RE-MORTGAGE – PRICE AND SERVICES INFORMATION

FREEHOLDLEASEHOLD
£895 plus VAT£995 plus VAT

Additional Fees and 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.

Land Registry Official Copy Entries (Freehold)£6.00
Land Registry Official Copy Entries (Leasehold)£15.00
Any additional Land Registry documents if required£6.00 per document
Leasehold Pack from your Landlord/Management Company (if leasehold and if required) – EstimatedBetween £150-£350 plus VAT
Search Fees (Estimated and if required)

(includes Local Search, Drainage Search, Environmental Search and Chancel Repair Insurance) (inc. VAT)

£200.00
Search Indemnity Insurance (if searches are not required) – Estimated£20-£100

The Key Stages of a Re-mortgage

The precise stages involved in a re-mortgage of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your re-mortgage are:

  • Take your instructions and give you initial advice
  • Obtain copies of and investigate title to the property on behalf of the mortgage lender
  • Carry out searches (or obtain search insurance)
  • Report to you on the mortgage offer
  • Request mortgage funds
  • Complete your re-mortgage
  • Deal with application for registration at Land Registry

Please contact us for a detailed quote specific to your individual circumstances at:

Email: resi@prince-evans.co.uk

Telephone: 020 8567 3477