We’ll always give you an individual cost estimate at the outset, specific to your circumstances, so you know clearly what the costs will be and exactly what work they cover.
Have a chat with our expert team of residential property lawyers on 01284 767766 and they’ll be happy to talk through the process with you, explain what we do, and answer any questions you have. There’s no obligation. Once we know precisely what you’d like us to do for you, we’ll send you a breakdown showing the costs for your transaction so you know you’re not paying for anything you don’t need, and there are no surprises.
Our fees for a typical residential property sale or purchase range from around £600 plus VAT (£120.00) for a simple £100,000 sale to around £1500 plus VAT (£300.00) for a substantial £1m purchase.
These figures will vary across the range of property values, types and in cases with unusual aspects or complications. As well as selling and buying homes, different aspects such as: buy to let properties; re-mortgages; transfers of equity; building plots; co-ownership issues; and numerous others; all fall under the heading of ‘residential conveyancing’.
We want to ensure that you get the right information up front on the costs you’ll incur. That’s why we’ll discuss your plans with you and always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your transaction.
Factors which will lead to variations in the cost include:
As well as our legal costs we’ll have to pay expenses to other organisations on your behalf (known as ‘disbursements’) during the course of the transaction, such as Land Registry fees, various search Fees, money transfer charges, Stamp Duty Land Tax, additional freeholder / management fees and so on.
Most of these we can state from the outset but some we’ll only be able to estimate until we find out from a third party. Typically we see additional costs ranging from £75.00 – £500.00 charged by managing agents (if applicable) on leasehold property sales.
This isn’t an exhaustive list of disbursements in all cases. A number of other disbursements may be required depending on the type and location of the property and whether additional searches are required or requested.
We’ll explain exactly what is required which will normally be done at the start of the transaction, but some fees may only become apparent during the course of a transaction.
Disbursements may be subject to change out of our control, but we’ll notify you of this as soon as we become aware.
Extra disbursements are likely on a purchase of a Leasehold property and/or new-build property for example: Leasehold – Apportionment of Ground Rent, Service Charge, Landlord’s Notice of Assignment fee and Deed of Covenant where applicable. New-build – Company Search, Commons Registration Search, Developers’ document engrossment fee. These fees are unknown until the relevant information is received.
In the unlikely event of any unforeseen difficulties arising during the transaction that might require a revision of the estimate, we would inform you immediately to discuss the position. If for any reason the transaction didn’t proceed to completion then a charge would be made for the abortive transaction, which would be dependent upon the amount of work carried out at that time.
For an indicative list of example legal fees and disbursements across a range of price bands click here.