It is challenging to provide you with a fixed cost quotation for our conveyancing services without having first discussed your personal circumstances and the specific details of your transaction with you. Each and every conveyancing transaction will differ and there are a range of factors which impact both our costs and any additional expenses (Disbursements).
VAT (currently 20%) will be added to our legal fees and the bank transfer charge. Our legal fees do cover all work required to complete your transaction. Our estimated charges are based on the matter being a standard, straightforward transaction and one which does not involve any unforeseen, complex or time consuming factors. If the matter is complex, time consuming or involves unforeseen circumstances, we do reserve the right to increase our charges accordingly. However, we will always discuss any proposed increase in cost with you before incurring any additional charge.
The cost information provided here is intended to offer you a broad indication of the range of our charges based on a price banded structure. However, we would strongly recommend that you make personal contact with us, so that we can discuss your requirements and offer you a definitive quotation.
| Usual additional expenses | |||
|---|---|---|---|
| Freehold Sale price – £ | Our legal fees | Official Copy of Register of Title | |
| 0 – 100,000 | 500 – 600 | 6 | |
| 100,001 – 200,000 | 600 – 700 | 6 | |
| 200,001 – 250,000 | 700 – 750 | 6 | |
| 250,001 – 500,000 | 800 – 950 | 6 | |
| 500,000 – 1,000,000 | 1,000 – 1,200 | 6 | |
| 1,000,000 plus | Contact us for a bespoke quotation | 6 | |
| Usual additional expenses | ||||
|---|---|---|---|---|
| Leasehold Sale price – £ | Our legal fees | Official Copy of Register of Freehold Title | Official Copy of Leasehold Title | |
| 0 – 100,000 | 625 – 775 | 6 | 6 | |
| 100,001 – 200,000 | 775 – 925 | 6 | 6 | |
| 200,001 – 250,000 | 775 – 925 | 6 | 6 | |
| 250,001 – 500,000 | 925 – 1,075 | 6 | 6 | |
| 500,000 – 1,000,000 | 1,075 – 1,225 | 6 | 6 | |
| 1,000,000 plus | Contact us for a bespoke quotation | 6 | 6 | |
Additional expenses (Disbursements)
We handle the payment of any additional expenses on your behalf to ensure a smoother process. The following list is an example of additional expenses which we may need to pay to third parties when acting for you on the sale of a property:-
- Official Copy Title Documentation. If HM Land Registry stores title documents, such as a Lease, Conveyance or Transfer Deed, we must obtain them. HM Land Registry charge £3 for each additional document;
- If the title to the property is not registered, we will need to undertake an Index Map Search at a cost of £4 and Land Charges Searches against each individual property owner at £2 per name;
- A bank transfer charge of £12 plus VAT will be required in respect of each bank transfer. If you have a mortgage to repay, one bank transfer charge will be raised and if the proceeds of sale are to be returned to you electronically, a second charge will be necessary;
- Leasehold Property Enquiries Form (LPE1) or Landlord Management Pack. On the sale of a leasehold flat or apartment, we are required to furnish the buyer’s solicitor with either an LPE1 Form or a Management Pack. A fee will be charged by the party providing the pack and the fee will vary from Landlord to Landlord. We cannot advise you of the appropriate cost until we approach the party concerned and obtain confirmation of their requirements. It would be unusual for a fee of less than £150 plus VAT to be charged by the Landlord.
Factors which may lead to an increased charge
The following list provides some examples of the type of issues which may increase our standard fees:-
- The property is not registered at HM Land Registry;
- Your Lease is a shared ownership Lease;
- There is an absent or unresponsive Landlord;
- We are required to arrange indemnity insurance for your buyer;
- A lease extension is required;
- The title to the property is defective;
- We are required to redeem more than one mortgage, particularly if there is a Help to Buy mortgage involved;
- Your buyer withdraws resulting in a sale to a further buyer;
- The sale needs to be expedited and prioritised.
How long will the sale of my property take?
How long it will take from your buyer’s offer being accepted until your buyer completes the purchase will depend on a number of factors. Halsalls work on the basis that the average freehold sale should take between 6 – 8 weeks from when the Contract and supporting paperwork is sent to your buyer’s solicitor. However, a number of recent studies have determined that the average timeframe is approximately 12 – 14 weeks.
The process can be quicker or slower, depending on the parties involved and the approach, and efficiency, of each parties’ solicitor and any external third parties who may need to be contacted for information. Examples of issues which may add additional time are: If the chain is lengthy, it can often be difficult bringing all parties together at the same time; whether all parties in the chain are purchasing with the aid of mortgage funding or whether there are cash buyers; if a buyer is in rented accommodation and needs to offer a period of notice; leasehold properties will, invariably, take longer because of the need to involve a Landlord who provides a considerable degree of additional information; and should substantial legal issues arise such as a defective title or breaches of planning permission or building regulations.
Key stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. However, the steps below are an indication of some of the key stages:-
- We take instructions to act and send our Client Care paperwork to you;
- If you have instructed an estate agent to market the property, your agent will issue a Memorandum of Sale setting out details of the buyer’s offer and contact details for the acting solicitor;
- Once you have returned our Client Care pack and the Memorandum of Sale has arrived, we will prepare the Contract, obtain title information from HM Land Registry and send a Contract and supporting paperwork to your buyer’s solicitor;
- If the property is leasehold, we will contact your Landlord and obtain the required pack of information;
- If your property is mortgaged, we will obtain a preliminary redemption statement from your lender;
- Your buyer’s solicitor will approve our draft Contract, order searches, raise legal enquiries and obtain details of your buyer’s financial arrangements;
- Once your buyer’s solicitor has approved our Contract, we will send the Contract to you for signature. We will also respond to any enquiries your buyer’s solicitor raises. This will often involve asking you to comment on those enquiries;
- As soon as the buyer’s solicitor has satisfactory replies to their enquiries, a mortgage offer (if any) and all search results, we look to agree a completion date;
- We exchange contracts and notify you that this happened;
- Your sale completes on the completion date, we redeem your mortgage, settle any estate agent’s invoice and send the balance of the sale proceeds to you.