0208 655 1197
·
info@defanksolicitors.co.uk
·
Mon - Fri 09:00 - 17:00
Contact us Today

Property Purchase

Defank Solicitors

Conveyancing Fees Property Purchase Guidance

This page outlines the costs of the various legal services performed by our in-house team. We are required to charge VAT. VAT is a tax we must charge and will be added at 20% to our fees and disbursements unless we advise that the disbursement is outside of VAT.

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.

We are required to charge VAT. VAT is a government tax that we are required to charge, and will usually be added at 20% to our fees and disbursements, except where we indicate the disbursements are outside the scope of VAT. The fees listed are our average fee ranges for a purchase transaction.

The fee (including additional fees and disbursements) may vary depending on the source of the instruction, your solicitor’s experience and location, the property price and what work we are required to do.

Legal Fee: £500.00 – £5,000 (+20% VAT of £100.00 – £1,000.00)

All our fee earners and supervisors are a minimum of 3 years post-qualified and have in-depth experience in conveyancing.

Other Additional Fees (If applicable to your transaction): Leasehold: £150 – £300 (+20% VAT of £20 – £60) Help To Buy: £100 – £500 (+20% VAT of £20 – £100)
Help To Buy ISA: £50 (+20% VAT of £10)
Telegraphic Transfer: £40.00 + VAT per transfer
SDLT Admin: £50 – £125 (+20% VAT of £10 – £25.00)
Acting For Lender: £100 – £500 (+20% VAT of £20 – £100)
Islamic Mortgage: from £500 + VAT
Administering Gifted Deposit – from a third party: £95 – £295 (+20% VAT of £19 – £59) Administration for Applying Unilateral Notice – with the Land Registry: £50 (+20% VAT of £10)
Update to External Portals: £35 – £95 (+20% VAT of £7 – £19)
Limited Company Purchase: £250 (+20% VAT of £50)
ID/AML Checks: £49 + VAT per person
Pre-Completion Searches: £49.00 + VAT

Disbursements (third-party costs)

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees.

We handle the payment of the disbursements on your behalf to ensure a smoother process. Search Pack: £350.00 (+20% VAT of £70.00) Land Registry Fee: £40 – £910

Please note the fee range will vary depending on the work required. Factors which may increase the fees charged include:
If the property is leasehold;
If a lease extension of deed of variation is required;
If there is Help to Buy involvement;
If you wish for us to expedite your transaction;
If we also need to act for your lender;
If there is a referral fee;
If the purchase is off-plan;
If we cannot meet you in person and will need to complete an electronic ID check;
If a unilateral notice is required to be registered with the Land Registry;
If you are a non-UK resident.
Please contact us for a quote tailored to your particular transaction. Stamp Duty/Land Tax (SDLT) 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.

Property Sale Our fee assumes that: 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; this is the assignment of an existing lease and is not the grant of a new lease; the transaction is concluded in a timely manner and no unforeseen complication arise; all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; no indemnity policies are required.

Additional disbursements may apply if indemnity policies are required; you are referring to us directly and not through a panel or agent where referral fees may apply, these will be disclosed to you in our client care letter. All our fee earners and supervisors are a minimum of 3 years post-qualified and have in-depth experience in conveyancing. Property Sale Guidance 

Our fees cover all of the work required to complete the sale of your home. We are required to charge VAT. VAT is a government tax that we are required to charge, and will usually be added at 20% to our fees and disbursements, except where we indicate the disbursements are outside the scope of VAT.

The fees listed are our average fee ranges for a sale transaction. The fee (including additional fees and disbursements) may vary depending on the source of the instruction, your solicitor’s experience and location, the property price and what work we are required to do.

Legal Fee: £500.00 – £5,000 (+20% VAT of £100.00 – £1,000.00)
Other Additional Fees (If applicable to your transaction):
Leasehold: £150 – £300 Telegraphic Transfer: £49.50 + VAT
Islamic Mortgage (Redemption): £500 + VAT Limited Company Sale: £250 (+20% VAT of £50)
ID/AML Checks: £49 + VAT per person Office Copies: £85 + VAT Disbursements (third party costs) Disbursements are costs related to your matter that are payable to third parties, such as management packs (if applicable). We handle the payment of the disbursements on your behalf to ensure a smoother process.

Please note the fee range will vary depending on the work required. Factors which may increase the fees charged include: If the property is leasehold; If there is a referral fee; If you wish for us to expedite your transaction; If we cannot meet you in person and will need to complete an electronic ID check; If you are a non-UK resident. Please contact us for a quote tailored to your particular transaction. How long will the sale of my house take? The length of time between instructing us (once receiving an offer on your property) to moving out of your property will depend on a number of factors. The average process takes 12-14 weeks. It can be quicker or slower, depending on the parties in the chain and the timeliness of each party’s responses and returning documents. For example, if you are selling a property that is leasehold, we will need to apply for the management pack; this can take significantly longer depending on the timeframes of the individual management company. Another example would be if you are selling a property with structural issues such as subsidence, this can take significantly longer than 6-10 weeks and in such a situation, additional charges would apply.

Stages of the process The precise stages involved in the sale of a residential property vary according to the circumstances; however below we have outlined the traditional stages we carry out on a standard sale. Take your instructions and give you initial advice; Check finances are in place to fund any related purchase (if applicable); Respond to any pre-contract enquiries; Obtain a copy of the Title and prepare a contract to send to purchasers Solicitors; Collate information on fixtures and fittings and send to purchasers Solicitors; Respond to any raised enquiries; Receive transfer and arrange signature with you; Arrange an exchange and completion date; Obtain redemption statement from any relevant Lender to settle any outstanding amount on the mortgage; Transfer any remaining money from sale to the seller.  

Property  Re-Mortgage Our fee assumes that: 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; The transaction is concluded in a timely manner and no unforeseen complication arise; All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; No indemnity policies are required. Additional disbursements may apply if indemnity policies are required; You are referring to us directly and not through a panel or agent where referral fees may apply, these will be disclosed to you in our client care letter. All our fee earners and supervisors are a minimum of 3 years post-qualified and have in-depth experience in conveyancing.

Property Re-mortgage Guidance: Our fees cover all of the work required to complete the re-mortgage of your home. We are required to charge VAT. VAT is a government tax that we are required to charge, and will usually be added at 20% to our fees and disbursements, except where we indicate the disbursements are outside the scope of VAT. The fees listed are our average fee ranges for a re-mortgage transaction. The fee (including additional fees and disbursements) may vary depending on the source of the instruction, your solicitor’s experience and location, the property price and what work we are required to do. Legal Fee: £350 – £1,500 (+20% VAT of £70 – £300) Other Additional Fees (If applicable to your transaction) Leasehold: £100 – £300 (+20% VAT of £20 – £60) Telegraphic Transfer: £49.50 + VAT Islamic Mortgage: from £500 + VAT Second Equity Charge Redemption: £100 (+20% VAT of £20) ID/AML Checks: £49 + VAT per person Office Copies: £85 + VAT Pre-Completion Searches: £49 + VAT Search Indemnity: £75 + VAT Disbursements (third party costs) 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. Search Pack (If required by your lender): £260 – £549 (+20% VAT of £52 – £109.80) Please note the fee range will vary depending on the work required. Factors which may increase the fees charged include: If the property is leasehold; If there is a referral fee; If you wish for us to expedite your transaction; If we cannot meet you in person and will need to complete an electronic ID check; If you are a non-UK resident.

Please contact us for a quote tailored to your particular transaction.

How long will the re-mortgage of my house take? The length of time between instructing us to successfully complete the re-mortgage process and your new lender details being submitted to the Land Registry will depend on a number of factors. The average process takes between 4-6 weeks, however if your property is a leasehold it may take longer as we may need to liaise with your Landlord or Management Company. It can be quicker or slower, depending on the nature of your individual circumstances, the timeliness of each party’s responses and returning of documents. For example, if you are re-mortgaging a property with a second equity redemption charge, this can increase the timeframes when corresponding with the relevant Help To Buy authority, who will have their own timeframes, to remove the charge.

Stages of the process The precise stages involved in the re-mortgage of a residential property vary according to the circumstances; however below we have outlined the traditional stages we carry out on a standard re-mortgage. Take your instructions and give you initial advice; Obtain the Title Deeds from HM Land Registry; Receive your mortgage offer and report to you on this; Apply for searches or search indemnity (dependent on what your lender requires); Request an initial redemption statement from the lender; Send a draft completion statement for you to check; Report to lender and confirm you can comply with the mortgage conditions; Set a completion date; Reconfirm redemption figure; Transfer any remaining surplus to you; An application will be made to the Land Registry with the new lender’s interest. Our fee assumes that: 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; The transaction is concluded in a timely manner and no unforeseen complication arise; All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; No indemnity policies are required. Additional disbursements may apply if indemnity policies are required; You are referring to us directly and not through a panel or agent where referral fees may apply, these will be disclosed to you in our client care letter.

Frequently Asked Questions

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.

The average process takes between 8-12 weeks. It can be quicker or slower, depending on the parties in the chain and the timeliness of each party’s responses and returning documents.
For example, if you are a first-time buyer, purchasing a newly built property with a mortgage in principle, it could take 8 weeks.

The Stages of the process?

However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 12 to 18 weeks. In such a situation additional charges would apply.

Stages of the process The precise stages involved in the purchase of a residential property vary according to the circumstances; however below we have outlined the traditional stages we carry out on a standard purchase.

Take your instructions and give you initial advice?

Take your instructions and give you initial advice;
Check finances are in place to fund purchase and contact lender’s solicitors if needed;
Receive and advise on contract documents;
Carry out searches;
Obtain further planning documentation if required;
Make any necessary enquiries of the seller’s solicitor;
Give you advice on all documents and information received;
Go through the conditions of the mortgage offer with you;
Send final contract to you for signature;
Agree completion date (the date from which you own the property);
Exchange contracts and notify you that this has happened;
Arrange for all monies needed to be received from the lender and you;
Complete purchase; Deal with payment of Stamp Duty/Land Tax; Deal with application for registration at Land Registry.