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Ince Gordon Dadds Emergency Response +442072836999

Fee estimates: residential conveyancing

Our Residential Property team have the knowledge and experience to advise you on all aspects of the residential market. Offering advice on issues across the UK as well as internationally. From the sale or purchase of a property, planning consent to handling landlord and tenant issues, our team have the expertise to assist.

Freehold Sale

The average cost for a straightforward freehold residential sale is between £3000 – £5000 plus VAT  (currently 20%).  Cost can be based on fixed fees or on hourly charges, you will be informed when instructing us which applies to your matter.

The costs include all standard aspects of a residential purchase such as:

  • Review of memorandum of sale
  • Obtaining office copies of title and related documents
  • Review of title and drafting contract
  • Completion of protocol enquiries with client
  • Issue of draft papers
  • Dealing with additional enquiries
  • Agreeing contract within 2 x rounds of negotiation
  • Exchange of contracts
  • Approving transfer and replying to requisitions on title
  • Drafting and agreeing completion statements with both buyers solicitor and seller
  • Completion
  • Mortgage redemption
  • Settling agents fees
  • Accounting to client as to net sale proceeds

There are a number of factors that could make the matter more complex and in turn increase costs. These can include, but are not limited to:

  • Time delay
  • Unclear instructions/heads of terms
  • Title issues and complex titles
  • Issues revealed by searches
  • Issues revealed by enquiries
  • Longwinded and inappropriate buyers [general] enquiries
  • Client not being based in the UK
  • Use of foreign funds/AML issues
  • Environment issues
  • Quality of opponent – if there is a poor quality conveyancer on the other side this will make any matter more time consuming and complex
  • Increased risk
  • Drafting of additional documents, such as but not limited to, the following:
    • Statutory Declaration/Statements of Truth
  • Dealing with Unregistered Title
  • Dealing with Reconstitution of Title
  • Application for Adverse Possession

Additional Disbursements

There are a number of disbursements that may need to be paid in addition to the above costs including:

  • Official copy register entries of title and documents referred to in the title (estimated between £3 – £20)
  • Indemnity policies (If necessary, cost varies dependent on policy)
  • Administration charge for electronic transfer of funds (£35 – £70 plus VAT at the prevailing rate for each payment)

Timescales

Our team estimates that a typical transaction will take 8 – 12 weeks, though this will increase if there is a poor opponent by a factor of 2 to 3 weeks.

Freehold Purchase

The average cost for a freehold purchase is between £3000 and £5000 plus VAT (currently 20%).  Cost can be based on fixed fees or on hourly charges, you will be informed when instructing us which applies to your matter.

The costs include all standard aspects of a conveyancing transaction including:

  • Review of title
  • Obtaining prudent searches and review of their result
  • Searches with Companies House (as required)
  • Negotiating documents within 2 x rounds of negotiation
  • Exchange of contracts
  • Drafting transfer and agreeing the same
  • Raising and reviewing requisitions
  • Completion
  • Preparing and submitting SDLT return
  • Registration of transfer
  • Simple mortgage (foreign currency, sharia or complex loans will attract an additional charge)

Factors that could make the matter more complex, and therefore increase cost can include, but are not limited to:

  • Time delay
  • Unclear instructions/heads of terms
  • Title issues
  • Issues revealed by searches
  • Issues revealed by replies to enquiries
  • Client not being based in the UK
  • Use of foreign funds/AML issues
  • Environment issues
  • Quality of opponent – if there is a poor quality conveyancer on the other side this will make any matter more time consuming and complex
  • Complex loan structures
  • Preparation of declarations of trust
  • Increased risk
  • Drafting of additional documents, such as but not limited to, the following:
    • Statutory Declaration/Statements of Truth
    • Declarations of trust and
    • deeds of postponement/letters of waiver
  • Plot Purchase
  • Help To Buy Scheme
  • Help To Buy ISA
  • If the Lender instructs their own Solicitor
  • If the property has Solar Panels
  • Dealing with a private charge in favour of parents
  • Dealing with Unregistered Title
  • Additional occupants of 17 years and over

There are a number of disbursements that may need to be paid in addition to the above costs including:

  • Search fees – £500 – £750 (dependent on Local Authority)
  • HM Land Registry Fees (£20 to £920 sliding scale set by HM Land Registry)
  • Stamp Duty (Will be dependent upon property value HMRC Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro )
  • Indemnity insurance (If necessary, cost varies dependent on policy)
  • Administration charge for electronic transfer of funds (from £35 plus VAT at the prevailing rate for each payment)

The average timescale for a straightforward purchase is approximately 3 months from initial instructions to completion, though this will increase if there is a poor opponent by a factor of 2 to 3 weeks.

Leasehold Sale

The average cost of a straightforward leasehold sale is between £3000 – £5000 plus VAT (currently 20%). Cost can be based on fixed fees or on hourly charges, you will be informed when instructing us which applies to your matter.

The costs include all standard aspects of a conveyancing transaction including:

  • Review of memorandum of sale
  • Obtaining office copies of title and related documents
  • Review of title and lease and drafting contract
  • Completion of protocol enquiries ( including additional form TA7) with client
  • Issue of draft papers
  • Raising LPE enquiries and liaising with landlord/managing agent as necessary
  • Dealing with additional enquiries
  • Agreeing contract within 2 x rounds of negotiation
  • Exchange of contracts
  • Approving transfer and replying to requisitions on title
  • Drafting and agreeing completion statements with both buyers solicitor and seller
  • Completion
  • Mortgage redemption
  • Settling agents fees
  • Accounting to client as to net sale proceeds

In some cases the landlords consent may be required, but not always. Where such consent is required, the seller will be responsible for both the landlords costs and additional own legal costs.

Factors that may make matters more complex/increase costs can include, but are not limited to:

  • Time delay
  • Unclear instructions/heads of terms
  • Title issues and complex titles
  • Issues with lease (e.g. lack or mortgagee protection clause(s))
  • Issues revealed by searches
  • Issues revealed by enquiries
  • Longwinded and inappropriate buyers [general] enquiries
  • Client not being based in the UK
  • Use of foreign funds/AML issues
  • Environment issues
  • Quality of opponent – if there is a poor quality conveyancer on the other side this will make any matter more time consuming and complex
  • Increased risk
  • Rent and/or service charge arrears
  • Delays in obtaining information form landlord/managing agent
  • Issues relating to management company and/or landlord – e.g. poor management, failure to prepare/file accounts, unusual management company structure
  • Drafting of additional documents, such as but not limited to, the following:
    • Statutory Declaration/Statements of Truth
  • Dealing with a Lease Extension to facilitate the sale
  • Creating a new lease out of a freehold title to facilitate the sale
  • If Landlords’ prior consent or licence to assign is required
  • Dealing with unregistered title
  • Application for Adverse Possession
  • Dealing with Reconstitution of Title

There are a number of disbursements that may need to be paid in addition to the above costs including:

  • Official copy register entries of title for both the freehold and leasehold, official copy lease and documents referred to in the title, management pack from the managing agents (costs vary between £250-400 plus VAT payable to the managing agents)
  • Indemnity insurance policies (If necessary, cost varies dependent on policy)
  • Administration charge for electronic transfer of funds (£35 – £70 plus VAT at the prevailing rate for each payment).
  • HM Land Registry fee (usually between £3 to £20)

A typical transaction will take 8 – 12 Weeks, though this will increase if there is a poor opponent by a factor of 2 to 3 weeks.

Leasehold Purchase

The average cost for a straightforward freehold residential leasehold purchase is between £3500 and £5500 plus VAT (currently 20%). Cost can be based on fixed fees or on hourly charges, you will be informed when instructing us which applies to your matter.

The costs include all standard aspects of a conveyancing transaction such as:

  • Review of title
  • Obtaining prudent searches and review of their result
  • Searches with Companies House (as required)
  • Negotiating documents within 2 x rounds of negotiation
  • Exchange of contracts
  • Drafting transfer and agreeing the same
  • Raising and reviewing requisitions
  • Completion
  • Preparing and submitting SDLT return
  • Registration of transfer
  • Giving notification of transfer to landlord
  • Simple mortgage (foreign currency, sharia or complex loans will attract an additional charge)
  • Transfer of share in management company/interest in management company limited by guarantee

Additional costs that would not be included:

  • Fee for acting for the lender (£300 – £750 plus VAT)
  • Possible landlord/lease associated costs
  • Costs as to share transfer/notice of interest in management company limited by guarantee
  • Dealings with management company

Factors that could make the matter more complex, and therefore increase costs can include, but are not limited to:

  • Time delay
  • Unclear instructions/heads of terms
  • Title issues
  • Issues revealed by searches
  • Issues revealed by replies to enquiries
  • Client not being based in the UK
  • Use of foreign funds/AML issues
  • Environment issues
  • Quality of opponent – if there is a poor quality conveyancer on the other side this will make any matter more time consuming and complex
  • Complex loan structures
  • Preparation of declarations of trust
  • Increased risk
  • Drafting of additional documents, such as but not limited to, the following:
    • Statutory Declaration/Statements of Truth
    • Declarations of trust and
    • deeds of postponement/letters of waiver
  • If landlords prior consent is required
  • Lease issues
  • Complex freehold titles/headlease structures etc.
  • Poor service charge accounts
  • Landlord/management company issues
  • Plot Purchase
  • Help To Buy Scheme
  • Help To Buy ISA
  • If the Lender instructs their own solicitor
  • If the property has solar panels
  • Dealing with a private charge in favour of parents
  • Dealing with unregistered title
  • Additional occupants of 17 years and over

There are a number of disbursements that may need to be paid in addition to the above costs including:

  • Search fees £500 – £750 (dependent on Local Authority)
  • Land registry fee (This is a scale fee set by HM Land Registry)
  • Stamp Duty (Will be dependent upon property value HMRC Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro )
  • Indemnity insurance (If necessary, cost varies dependent on policy)
  • Administration charge for electronic transfer of funds (from £35 plus VAT at the prevailing rate for each payment)
  • Possible landlord/lease associated costs
  • Costs as to share transfer/notice of interest in management company limited by guarantee

The average timescale is 8 to 12 weeks from initial instructions to completion, though this will increase if there is a poor opponent by a factor of 2 to 3.

Residential Re-mortgage

The average cost for a straightforward residential re-mortgage is between £1250 and £2000 plus VAT (currently 20%).  Costs are calculated on a fixed fee basis dependent upon property value, complexity, and client domicile. You will be informed when instructing us the fee that applies to your matter.

The costs include:

  • Obtaining office copies of title and related documents
  • Review of title (and lease if leasehold)
  • Obtaining prudent searches and review of their result and reporting to client if No Search Indemnity is not accepted
  • Perusing Mortgage Offer and reporting to the client
  • Perusing Management Pack (if leasehold)
  • Raising questions of client concerning alterations at property and covenants
  • Contacting Management Company if leasehold and raising LPE enquiries and liaising with landlord/managing agent as necessary
  • Dealing with obtaining planning and building regulation approval documents
  • Drafting completion statement
  • Completion
  • Mortgage redemption
  • Serving Notice of Mortgage to landlord and/or management company (if leasehold)
  • Accounting to client as to NET balance
  • Registration of mortgage deed
  • Simple mortgage (foreign currency, sharia or complex loans will attract an additional charge)

Factors that could make the matter more complex, and therefore increase costs, can include, but are not limited to:

  • Time delay
  • Unclear instructions
  • Change of lender
  • Title issues and complex titles
  • Issues with lease (e.g. lack or mortgagee protection clause(s))
  • Issues revealed by searches
  • Client not being based in the UK
  • Use of foreign funds/AML issues
  • Environment issues
  • Increased risk
  • Rent and/or service charge arrears (if leasehold)
  • Delays in obtaining information from landlord/managing agent (if leasehold)
  • Issues relating to management company and/or landlord – e.g. poor management, failure to prepare/file accounts, unusual management company structure
  • Drafting of additional documents, such as but not limited to, the following:
    • Statutory Declaration/Statements of Truth
    • Declarations of trust and
    • deeds of postponement/letters of waiver
  • Complex loan structures
  • Preparation of declarations of trust
  • Lease issues
  • Complex freehold titles/headlease structures etc.
  • Poor service charge accounts
  • Landlord/management company issues
  • Dealing with adverse entries, Notices and Restrictions on the title
  • Combining Transfer of Equity with re-mortgage
  • Dealing with Stamp Duty if transaction combined with Transfer of Equity
  • Acting for a Company
  • Dealing with Guarantor Advice
  • Dealing with unregistered title
  • If lender instructs own Solicitor
  • Bridging finance requiring very quick turnaround time
  • Additional occupants of 17 years and over

The disbursements that may need to be paid in addition to the above costs include:

  • Search fees £350 – £500 (dependent on Local Authority);
  • Indemnity insurance policies (cost varies depending on policy);
  • Administration charge for electronic transfer of funds (£35 plus VAT for each payment)
  • HM Land Registry fees (between £20 and £260, rate set by HM Land Registry );
  • Fee to the Management Company for Leaseholder Pack;
  • Possible landlord/lease associated costs.

A typical transaction will take between 2-6 weeks although it can be quicker if the mortgage offer is issued promptly and the search results come through without delay.

The team

Our real estate team is led by Justin Neal who is the head of department based in our London office. Justin has over 23 years of post-qualification experience in managing real estate matters. He is supported by a skilled and experienced team from our office in London.

Click on the links below to view the profiles of our real estate team members.

Other team members

  • Mandy Rai – Trainee Solicitor
    Mandy is a Trainee Solicitor with the residential property team and has completed her BSc, LLB and LPC.
  • Amanda Snelling – Paralegal
    Amanda has completed her ACILEx and currently supports the residential property team as a Paralegal.
  • Francesca Leonard – Paralegal
    Francesca supports the residential property team as a Paralegal and she has completed her upper second class degree in ancient history and Graduate Diploma in Law.

For more information

For more information about using our professional services for residential property matters, please get in touch either by telephone, email or our website enquiry form.  One of our team would be delighted to speak to you and provide you with a fixed fee bespoke to your needs.

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