Residential Conveyancing

Our prices and costs explained

Our team is committed to delivering high quality work in all matters relating to Residential Conveyancing.  However, we can only provide you with an estimate of our fees based on the information we currently hold.  Therefore this information is subject to change in the future.In the event that your matter does not to proceed to completion, we are entitled to charge our full fees.

We estimate the costs involved as follows:-
Sale (Freehold):
Legal Fees £500.00 plus VAT of £100.00 a total of £600.00
Land Registry Office Copy & Title Plan £6.00
Telegraphic Transfer fees £16.00 plus VAT of £3.20 a total of £19.20 per transfer
TOTAL £625.20

Sale (Leasehold):
Legal Fees (based on 3 hours @ £217) £600.00
VAT £120.00
Land Registry Office Copy & Plan £6.00
Telegraphic Transfer fees £16.00 plus VAT of £3.20 a total of £19.20 per transfer
TOTAL £745.20

Purchase (Freehold):
Legal Fees £500.00
VAT £100.00
Stamp Duty (TBA)
Land Registration fees, (TBA)
Land Registry priority search £3.00
Bankruptcy Search £2 per person
Local Authority Searches £266.80 inclusive of VAT at 20%
Telegraphic Transfer fees £16.00 plus VAT of £3.20 a total of £19.20 per transfer
Lawyer Checker £12.00 plus VAT of £2.40 a total of £14.40

Purchase (Leasehold):
Legal Fees based on 4 hours at our regular charging rage of £217 plus VAT £868.00
VAT £173.60
Stamp Duty (TBA)
Land Registry fees (TBA)

Land Registry search priority search £3.00
Bankruptcy Search £2.00 per person searched
Searches £266.80 inclusive of VAT at 20%
Telegraphic Transfer fees £16.00 plus VAT of £3.20 a total of £19.20 per transfer
Lawyer Checker £12.00 plus VAT of £2.40 a total of £14.40.

The figures shown above are representative of a standard residential conveyancing transaction without complications.  The purchase of flats and apartments are much more complex and raise additional issues which will need to be resolved and owing to the complications which may arise, buyers of these types of properties can expect to pay additional fees.

In addition, the purchase of newly built properties, shared ownership purchases, transfers of equity, equity release and help to buy properties are more complicated and may also be subject to additional fees.

Lenders require legal representation and if we are required to act for them (which invariably we will be required to do) there will be an additional charge for acting on their behalf which will become apparent from their mortgage offer.

There are also situations where it may be necessary to obtain indemnity insurance regarding missing documents or guarantees/warranties.  Where necessary we charge a fee of £50.00 plus VAT of £10.00 a total of £60.00 in addition to any premium payable.

Other factors that may result in additional fees would be defective Titles or where a part of the property is unregistered.  Where building regulation approval or planning permission has not been obtained, or if crucial documents which have been requested have not been provided.

Remortgages and Transfer of Property by Gift

  • Remortgages, a minimum charge of £400.00 plus VAT of £80.00 a total of £480.00;
  • Transfer of property by Gift a minimum fee of £350.00 plus VAT of £70.00 a total of £420.00.

The following is a link to the Land Registry’s website which gives details of their fee.

There is also a possibility that stamp duty land tax will be payable. The following is a link to the Government online calculator so that potential buyers can work out how much stamp duty they will be liable to pay.

Remortgages and Deeds of Gift
In relation to re-mortgages and Transfers of property by Gift, there will also be fees to pay for the cost of Land Registry documents and also Land Registry fees, the amount of which will depend on the value of the property being transferred.

Finally, in relation to all types of transaction we are required to obtain identification evidence for anyone on whose behalf we act and therefore, it will also be necessary to carry out online identification checks in connection with all clients and anyone else who is putting money into a property transaction. The cost of each online identification check is currently free of charge.

Time frame
So far as a time frame is concerned in relation to the Sale and Purchase of properties, this can be difficult to predict because it can be affected by a number of factors, for example, the number of parties involved in the chain of transactions, whether any of them require mortgage finance or whether parties are dependent on the sale or purchase of an alternative property.

Generally, a straightforward residential property transaction takes between 8 and 14 weeks.

So far as re-mortgages are concerned, these can be dealt with much quicker simply because the only parties involved are the lenders and the borrower. Once mortgage instructions have been received, in theory, it should be possible to complete the re-mortgage within 2 weeks depending on the lender’s requirements.

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How We Can Help You

Here at John Poyser Solicitors, we pride ourselves on the experience and expertise our dedicated solicitors have amassed over the years. We always strive to achieve the very best results for our clients and will go the extra mile to do so.