Guide to fees (Freehold)

All properties will vary and our fees will reflect the particular requirements of your sale. Due to this, we cannot provide you with an exact estimate of the cost until we have details of your property.

At the start of any transaction we will provide you with a cost estimate based on the information you provide us.  Our fees cover all of the work required to complete the sale.

In the majority of property sales we will be able to give to you specific details upfront of legal fees and the disbursements which you will incur.

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.

For properties valued under £1,000,000 our typical legal fees involving a residential property sale range from around £2400 (including VAT) for a simple transaction to £6000 (including VAT) for a generally larger and individual property (with its associated complexities). For properties valued over £1,000,000, our charges will stand at 0.5% of the property value (subject to agreement)

Disbursements

• On a property sale these are limited generally the cost of obtaining copy title documents from the land registry (on average less than £10) and the cost of obtaining copy documents other sources such as copy planning document (on average less than £20).
• The above figures are either inclusive of VAT or no VAT is payable. When we provide you with detailed costings we confirm the VAT payable

The Factors are as follows

• The complexity of the property
• The price
• The time which it is anticipated will need to be devoted to the matter
• The number of titles included within the property
• Whether it is freehold or leasehold
• The urgency
• The qualification level and specialist knowledge of the adviser who needs to be allocated to the matter (see below for charge out rates) .

How long will my sale take?

How long it will take from the offer being accepted until completion will depend on a number of factors. The average transaction takes between 8-12 weeks. It can be quicker or slower, depending on factors such as: the number of parties in the chain; the time it takes for finance to be arranged; title problems needing to be resolved; surveys revealing items of disrepair which require rectification; some parties in the chain not wanting to complete quickly.

An example, if you are selling an empty freehold property with no mortgage required the purchase could complete in 4 to 6 weeks. However, if you are selling a property where there are a number of parties in the chain (and especially if issues arise which need to be resolved), this can take significantly longer - commonly 3 months plus. In such a situation, in order to protect your interests, additional charges may apply.

What are the stages in the process?

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have set out some common key stages on sales and purchases:

• Solicitors take instructions and give initial advice
• Buyers check that their finances are in place to fund purchase and contact their lender if an offer of finance is needed
• Buyers commission a survey of the property if required
• Contracts, copy title documents and preliminary enquiries are dealt with
• Searches are carried out (these will vary depending upon the nature of the property)
• Buyers solicitors raise any necessary additional enquiries of seller's solicitor
• Mortgage offer is received (if relevant) and the lender provides instructions to buyer's solicitor
• Advice on is given by buyers solicitors on all documents and information received, usually in the form of a property report
• Contracts are signed in readiness for exchange
• The completion date is agreed (date on which the ownership of the property changes)
• Contracts are exchanged (the deal is now binding)
• The buyers solicitor obtains all monies needed from lender and buyer
• The sale/purchase completes
• Buyer's solicitor deals with application for registration at Land Registry

Guide to fees (Leasehold)

All properties will vary and our fees will reflect the particular requirements of your sale. Due to this, we cannot provide you with an exact estimate of the cost until we have details of your property.

At the start of any transaction we will provide you with a cost estimate based on the information you provide us.  Our fees cover all of the work required to complete the sale.

In the majority of property sales we will be able to give to you specific details upfront of legal fees and the disbursements which you will incur.

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. 

For properties valued under £1,000,000 our typical legal fees involving a residential property sale range from around £2400 (including VAT) for a simple transaction to £6000 (including VAT) for a generally larger and individual property (with its associated complexities). For properties valued over £1,000,000, our charges will stand at 0.5% of the property value (subject to agreement)

Disbursements

• On a property sale these are limited generally the cost of obtaining copy title documents from the land registry (on average less than £10) and the cost of obtaining copy documents other sources such as copy planning document (on average less than £20)
• Often when selling when selling leasehold properties, where there is a management company not owned by the tenants, it will charge an administration fee for providing a pack containing the leasehold management details for the property (including copies of the accounts, insurance details, repair proposals etc.). Typically the cost levied is between £200 and £400.
• The above figures are either inclusive of VAT or no VAT is payable. When we provide you with detailed costings we confirm the VAT payable.

Factors we take into account when setting our fees

The Factors are as follows

• The complexity of the property
• The price
• The time which it is anticipated will need to be devoted to the matter
• The number of titles included within the property
• Whether it is freehold or leasehold
• The urgency
• The qualification level and specialist knowledge of the adviser who needs to be allocated to the matter (see below for charge out rates) .

How long will my sale take?

How long it will take from the offer being accepted until completion will depend on a number of factors. The average transaction takes between 8-12 weeks. It can be quicker or slower, depending on factors such as: the number of parties in the chain; the time it takes for finance to be arranged; title problems needing to be resolved; surveys revealing items of disrepair which require rectification; some parties in the chain not wanting to complete quickly. For example, if you are selling an empty freehold property with no mortgage required the purchase could complete in 4 to 6 weeks. However, if you are buying a selling property where there are a number of parties in the chain (and especially if issues arise which need to be resolved), this can take significantly longer - commonly 3 months plus. In such a situation, in order to protect your interests, additional charges may apply.

What are the stages in the process?

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have set out some common key stages on sales and purchases:



• Solicitors take instructions and give initial advice
• Buyers check that their finances are in place to fund purchase and contact their lender if an offer of finance is needed
• Sellers solicitors obtain a pack of leasehold information from the management company (if applicable)
• Buyers commission a survey of the property if required
• Contracts, copy title documents and preliminary enquiries are dealt with
• Searches are carried out (these will vary depending upon the nature of the property)
• Buyers solicitors raise any necessary additional enquiries of seller's solicitor
• Mortgage offer is received (if relevant) and the lender provides instructions to buyer's solicitor
• Advice on is given by buyers solicitors on all documents and information received, usually in the form of a property report
• Contracts are signed in readiness for exchange
• The completion date is agreed (date on which the ownership of the property changes)
• Contracts are exchanged (the deal is now binding)
• The buyers solicitor obtains all monies needed from lender and buyer
• The sale/purchase completes
• Buyer's solicitor deals with application for registration at Land Registry
• The buyers solicitor follows the notice and covenant procedures set out in the lease so that your landlord or the management company know that you have sold.