Whether you are buying or selling a residential or commercial property, we offer an excellent service at competitive rates. Philip Hourmouzios heads the Conveyancing Department which comprises of an experienced and efficient team of people dedicated to providing a friendly and professional service.
The practice is Conveyancing Quality Scheme (CQS) accredited.
Philip Hourmouzios and Jane Bradley are the partners leading the teams in this work and they can be contacted at Ph@slaterbradley.co.uk or Jane.bradley@slaterbradley.co.uk.
SALE OF A FREEHOLD CONVEYANCING FEES
Sale of a freehold residential property
Our estimated fees cover all of the work required to complete your sale and will depend on various factors. The fees and disbursements stated below are for guidance purposes only. We will provide you with a detailed quotation for fees when you have spoken to us and we have identified whether there are any particular factors that might affect our estimated fees before we provide you with a formal quotation which will include any costs made to others on your behalf, commonly referred to as disbursements.
A number of different factors will determine the exact amount of our fees within the scales shown below. For example: -
scale of our fees and disbursements
Price of Property
Legal Fees
Up to £500,000.00
£1,000 - £1,500 plus VAT
£500,001 - £1,000,000
£1,200 - £2,000 plus VAT
£1,000,001 - £1,500,000
£1,500 - £2,500 plus VAT
£1,500,001 - £2,500,000
£2,000 - £3,000 plus VAT
Disbursements
Land Registry fee £6 for an official copy of the register and £6 each for any supporting documents.
Money laundering search £4.60 per name
If the property is leasehold Landlord or managing agents fees for providing management information about the property in a Pre- sale management pack £200 to £450 plus VAT estimated.
How long will my sale take?
The speed of your transaction from the point at which you accept and offer will depend on a number of factors. The average process takes between four and eight weeks.
It may be quicker or slower depending on the parties in the chain and the circumstances of your transaction.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. Some key stages include : -
Take your instructions and give you initial advice
PURCHASE OF A FREEHOLD CONVEYANCING FEES
Our fee estimates are based on various factors on a case by case basis. Unlike many other firms we do not charge additional “add on fees” for completing SDLT returns for example, or additional “administration” charges for postage, photocopying etc.
Our conveyancing department collectively have more than 60 years of experience in dealing with residential conveyancing and each transaction is handled by an experienced solicitor. As a firm we do not pay or receive any third parties fees for referring clients to us.
Purchase of a freehold residential property
Our fees cover 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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
The following information on costs and timing is for guidance only. It is not a quotation and more detailed costs information will be provided on request.
Legal fees*
Up to £500,000
£1,200.00 - £2,000 plus VAT
£1,00,001 - £1,500,000
Disbursements are out of pocket expenses that are payable to third parties that we incur on your behalf. We handle the payment of the disbursements on your behalf to ensure a smoother process. The likely disbursements on a straightforward purchase transaction will be:
Search fees £400.00 plus (estimated) to include the Local Search, Drainage and Water Search, Plansearch Plus and Riskview Residential. NB: VAT is payable on certain searches.
Land Registry fee – the fee payable will depend upon the purchase price and ranges from £20.00 to £455.00 depending on the property value.
Pre completion land Registry search - £3.00 per title.
Bankruptcy search - £2.00 per name.
Money Laundering search £4.60 per name .
We do charge an administration fee of £40.00 plus VAT for each electronic money transfer that is carried out on your behalf in any one transaction for example transferring funds to the sellers’ solicitors on completion.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you, will need to pay by using HMRC's website (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the Welsh Revenue Authority's website (https://beta.gov.wales/land-transaction-tax-calculator).
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 6-12 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, it could take 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, In such a situation additional charges would apply.
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages that are involved in a standard purchase transaction are as follows:-
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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.
Conveyancer's fees and disbursements
Price of property
£1,550 - £2,500 plus VAT
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. In addition to the disbursements set out earlier for residential freehold purchases including Stamp duty land Tax there are certain specific 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*
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 £150.00 plus
Certificate of Compliance fee -To be confirmed upon receipt of the lease, as can range between £50.00 plus
*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 this 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 (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the Welsh Revenue Authority's website (https://lttcalculator.wra.gov.wales/).
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances.
* Our fees assume that:
a. 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
b. this is the assignment of an existing lease and is not the grant of a new lease.
c. the transaction is concluded in a timely manner and no unforeseen complication arise.
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
e. no indemnity policies are required. Additional costs and disbursements may apply if indemnity policies are required.
f. any additional work is not required regarding your mortgage or funding arrangements.
g. part or all of the property is not unregistered.