Harper & Odell solicitors is an accredited member of the Law Society’s Conveyancing Quality Scheme (CQS) which provides a recognised quality standard for residential conveyancing work.

Our residential conveyancing lawyers specialise in:

  • Buying and selling freehold and leasehold property
  • Re-mortgaging
  • New Build properties
  • Sale and purchase of building plots
  • Transfer of equity
  • Deeds of Gift
  • Problematic Leases, rights of way and boundary issues

1.1 Purchase of a freehold residential property

Once we are instructed, our fees cover all of the work required to complete the purchase of your new home, including acting for your lender, dealing with registration at the Land Registry and the payment of stamp duty.

We aim to ensure the transaction runs as smoothly as possible and to provide a personal service.

Below is a typical range of fees for a freehold transaction. For us to give you a fee quote, please do call us so that we can provide you with a quotation specific to your transaction needs. All the fees shown are subject to VAT at the prevailing rate.

Value Minimum Sale Fee  Minimum Purchase Fee   Re-mortgaging
 £0 - £250,000  £1,100.00 + VAT  £1,250.00 + VAT  £600.00 + VAT
 £250,001 - £500,000  £1,300.00 + VAT  £1,450.00 + VAT  £600.00 + VAT
 £500,001 - £999,999  £1,400.00 + VAT  £1,550.00 + VAT  £600.00 + VAT
 £1,000,000 plus  Please call for a tailored quotation.

 

Disbursements

Disbursements may also be payable in addition to our legal fees.

These are payments made to third parties on your behalf as part of the conveyancing process. They include payments for: 

  • Stamp Duty Land Tax (SDLT)
  • Search fees – typically range between £250.00 to £500.00 which may include a local authority search, drainage & water search, environment report, chancel search.
  • HM Land Registry fees – These fees depend upon the type of property, its value, and whether an electronic submission of the Land Registry application can be made.

Conveyancing timescales

Generally, 6 to 12 weeks to the point of exchange of contracts from the time papers are received or sent out in the case of a sale. Once contracts have been exchanged, the parties are legally committed to buy or sell.

We will try to expedite the transaction where possible, though this is not always within our control.

1.2 Purchase of a leasehold residential property

Our fees cover all the work required to complete the purchase of your new home, including acting for your lender, dealing with submission of the Stamp Duty Land Tax return and registration at the Land Registry.

Conveyancer’s fees and disbursements

Value Minimum Sale Fee  Minimum Purchase Fee  Re-mortgaging
£0 - £250,000 £1,200.00 + VAT £1,350.00 + VAT £700.00 + VAT
£250,001 - £500,000 £1,400.00 + VAT £1,550.00 + VAT £700.00 + VAT
£500,001 - £999,999 £1,500.00 + VAT £1,650.00 + VAT £700.00 + VAT
£1,000,000 plus Please call for a tailored quotation.
 

For help to buy properties there is an additional fee of £150 +

VAT added to our fees as there is additional work required

 

  • Fee for acting on behalf of the mortgage lender would generally be included in our fees stated above.
  • Search fees £250.00 - £500.00
  • HM Land Registry fee £270.00 (may vary depending on the value of the property)
  • Electronic money transfer fee £16.00 plus VAT per transfer

Disbursements are costs related to your transaction 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 above. 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 payable is usually set out in the lease. Generally, the fee is between £50 – £100 plus VAT per notice.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £100 plus VAT per notice.
  • Deed of Covenant fee – This fee is usually provided by the management company for the property and can be difficult to estimate. Often it is between £100 – £200 plus VAT.

**These fees vary from property to property and can on occasion be 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.

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 can vary according to the circumstances. However, the key stages of a transaction are usually as follows: -

  • Taking your instructions and giving initial advice
  • Check finances are in place to fund the purchase and contacting the lender’s solicitors, if needed
  • Receive and advise on contract documents
  • Carrying out searches
  • Obtain further planning documentation, if required
  • Make any necessary enquiries of the seller’s solicitor
  • Reporting to you on the documents and information received
  • Go through conditions of mortgage offer
  • Sending out the final contract to you for signature
  • Drafting the Transfer
  • Advising on joint ownership
  • Undertaking pre-completion searches
  • Agreeing a completion date (date when keys are released)
  • Exchange contracts and notifying you this has happened
  • Arrange for all monies needed to be received from the lender and yourself
  • Completing the purchase
  • Dealing with payment of the Stamp Duty Land Tax
  • Deal with application for registration at the Land Registry

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. On average the process takes between 6-12 weeks from the time papers are received to the point of exchange of contracts.

It can be quicker or slower, depending on the parties in the chain.

Typical legal fee for a leasehold purchase at a price of £750,000.00: £1,650.00 plus VAT: our fees will depend upon the purchase price, complexity, speed of transaction and lender requirements

Our fee assumes that:

1. it 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

2. it is the transfer of an existing lease and is not the grant of a new lease

3. the transaction is concluded in a timely manner and no unforeseen complications arise

4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing the documentation

5. no indemnity policies are required. Additional cost may apply if indemnity policies are required.

Get in touch today

Here at Harper & Odell, we have built our practice on providing practical solutions for our clients, while remaining sensitive to the cost of our services. We provide advice and assistance specifically tailored to your goals and deliver this advice in a clear and straightforward manner.

DX : 53319 Clerkenwell

Enquire now

get in touch
Please let us know your name. Please enter a valid Subject Please let us know your email address. Please let us know your message.
Invalid Input