Residential Conveyancing Fees

Our Pricing:

At Vas Solicitors we have always prided ourselves on our jargon-free and transparent approach to our work and its costs.

We feel it is really important, in addition to providing you with an excellent service, that you know what you will pay for the service you expect to receive.

We will always confirm our cost estimate or agreed fixed fee with you at the outset in any matter prior to beginning our work for you, for the avoidance of any doubt.

VAT

Where VAT is payable in the pricing shown below it is calculated at the current applicable rate (which is 20%).

The figures shown sequentially represent (1) the amount without VAT, (2) the amount of VAT due and (3) the total inclusive of VAT.

Where no VAT rate or amount is shown below, no VAT is payable.

Conveyancing Fees  

Our residential conveyancing covers all aspects of a purchase right from the beginning up to the day of completion. We offer a fixed fee package for all our residential work.

Our charges are made up of:

1. our fees for the legal work;
2. ‘disbursements’ – disbursements are costs related to your matter that are payable to other people, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process; and
3. for property purchases, Stamp Duty Land Tax (see below).

Our own fees for the legal work are determined by a scale based on the value of the property involved in the transaction as set out in the table below.

If you are buying and selling a property, then a charge would be made for both the sale and the purchase.

Our Fees for the Purchase/Sale of Freehold/Leasehold Residential Property

Fees additional to the scale fees seen above as appropriate:

Our costs re Stamp Duty including SDLT return £200.00 plus £40.00 at 20%  Vat = £240.00 total

Our costs re Telegraphic Transfer fee £40.00 plus £8.00 at 20% Vat = £48.00 total

Our costs re Identity Verification £25.00 plus Vat £5.00 at 20%  Vat = £30.00 total

Our costs re acting on your mortgage £500.00 plus £100.00 at 20%  Vat = £600.00 total

Our costs re help to buy mortgage £250.00 plus £50.00 at 20%  Vat = £300.00 total

Our costs re help to buy/lifetime ISA £50.00 plus £10.00 at 20%  Vat = £60.00 total

Our costs re company purchase £500.00 plus £100.00 at 20%  Vat = £600.00 total

Our costs re leasehold property £150.00 plus £30.00 at 20%  Vat = £180.00 total

Expenses

Searches including but not limited, a search of the local land charges register and standard enquiries of the local authority, drainage search, environmental search, planning history, and also any other recommended searches such as mining or flood risk. Prices depend on the area and search provider so we can only estimate that these will be between £200 – £500 plus Vat at 20% = £240 – £600 in total

Bankruptcy £3.20 total per name in total including Vat (if there are two names it will be £6.40 in total)

Land Registry search fee £4.20 per search in total including Vat (if there are three searches carried out it will be £12.60)

Land Registry fees* (Variable see below)

Companies Winding up search fees** (estimated) – £5.00 to £60.00 plus £1.00 – £12.00 Vat at 20% = £6.00 to £72.00 total

Lawyer Checker fee £18.00 plus £3.60 Vat = £21.60 total

Confirmly £15

Electronic onboarding (eCOS) £12.50 plus £2.50 = £15.00 total

Companies House fee £15

LMS fee £30 (Panel management fee)

ULS £30 (Panel management fee)

AP1 submission fee £6

SDLT submission fee £6

Notes

* Land Registry Registration Fees are payable on some purchases only.  The amount payable (if any) depends on the purchase price.  Please visit Land Registry to confirm fees via the link here:   https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

**The amount of any Winding Up Search Fees can vary depending on the urgency of the matter.

Stamp Duty Land Tax

If you are buying a property, you will also need to pay stamp duty land tax. The amount which you need to pay to the government depends on the price of the 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 at https://gov.wales/land-transaction-tax-calculator

Assumptions

The above fees are given on the assumption that:

1. The matter will be a standard residential conveyancing and no unforeseen matters arise, including but not limited to a defect in the title which requires remedying prior to completion or preparation of additional documents ancillary to the main transaction.

2. All parties to the transaction are cooperative and there is no unreasonable delay in third parties providing documentation or services.

3. Once instructed, your instructions to us do not change in a material way. An example of a material change would be that you instruct us that you are buying a property in

4. Your sole name but, after we are instructed, you decide to purchase the property jointly with a spouse or some other person.

The Stages of your conveyancing matter:

1. Take your instructions and give you initial advice 
2. Check finances are in place to fund purchase and contact lender’s solicitors if needed 
3. Receive and advise on contract documents 
4. Carry out searches
5. Obtain further planning documentation if required
6. Make any necessary enquiries of seller’s solicitor
7. Give you advice on all documents and information received
8. Go through conditions of mortgage offer 
9. Send final contract to you for signature
10. Draft Transfer
11. Advise you on joint ownership
12. Obtain pre-completion searches 
13. Agree completion date (date from which you own the property) 
14. Exchange contracts and notify you that this has happened 
15. Arrange for all monies needed to be received from lender and you
16. Complete purchase 
17. Deal with payment of Stamp Duty/Land Tax 
18. Deal with application for registration at Land Registry 

Our fees cover all 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 is in Wales. 

Re-mortgage Fees: 

Our fees in connection with a re-mortgage are as follows:

Where the property value is £300,000.00 or below   –   £850.00 plus £170.00 VAT = £1020.00

Where the property value is above £300,000.00, then the scale fee for a sale or purchase of a property with a similar value applies (see the table above for sale/purchase fees).

For likely disbursements on re-mortgage matters, please refer to the expenses above for sale and purchase matters.  The same expenses are likely to apply.

Timescales

On any transaction, the timescales are subject to change depending on many factors such as mortgage offers, searches, parties within the chain and so on. The average transaction takes between eight to ten weeks. It can be slower or quicker, and the following situations may give you an idea of timing scenario’s:- 

1. For a first time buyer purchasing a brand new property with a mortgage in principle it could take 8 weeks if the property is ready for occupation.
2. If you are buying a leasehold property that requires an extension to the Lease and raising enquiries from the Landlord or another third party, it can take significantly longer and between 10 – 16 weeks.
3. If you are buying and selling a property and there is a chain of say three or four requiring mortgages and searches, this may typically take between 8 – 12 weeks. 
4. The average mortgage takes between five and six weeks to be issued from the date of application.
5. Local Authority searches and enquiries on a purchase can take around five weeks.

Menu of Additional Services/Fees

All quotes are based upon the information provided at the outset of a matter. During the course of the transaction additional work may be required for matters which were not disclosed at the outset or which were unknown. Please see below a list of additional fees. Additional fees will be added to your final account if extra work has been undertaken. Please note the fees below will be in addition to the scale fees mentioned in the earlier table above.

Property Team and Experience 

Please note the following

The fees detailed above assumes that:-

• The matter will be a standard residential conveyancing and no unforeseen matters arise, including but not limited to a defect in the title which requires remedying prior to completion or preparation of additional documents ancillary to the main transaction. 
• The transaction is concluded in a timely manner and no unforeseen complication arises.
• All parties to the transaction are cooperative and there is no unreasonable delay in third parties providing documentation or services.
• Once instructed, your instructions to us do not change in a material way.  An example of a material change would be that you instruct us that you are buying a property in your sole name but, after we are instructed, you decide to purchase the property jointly with a spouse or some other person.

Exclusions

We do not undertake tax advice, with the exception of reporting and paying the stamp duty on a property transaction.

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

• If a legal title is defective or part of the property is unregistered
• If you discover building regulations or planning permission has not been obtained
• If crucial documents, we have previously requested from you have not been provided to us
• If the property is a new build
• If any of  the additional items set out above are required

Timescales

On any transaction, the timescales are subject to change depending on many factors such as mortgage offers, searches, parties within the chain and so on.  The average transaction takes between eight to ten weeks.  It can be slower or quicker, and the following situations may give you an idea of timing scenario’s:-

1. For a first time buyer purchasing a brand new property with a mortgage in principle it could take 8 weeks if the property is ready for occupation. 
2. If you are buying a leasehold property that requires an extension to the Lease and raising enquiries from the Landlord or another third party, it can take significantly longer and between 10 – 16 weeks.
3. If you are buying and selling a property and there is a chain of say three or four requiring mortgages and searches, this may typically take between 8 – 12  weeks.
4. The average mortgage takes between five and six weeks to be issued from the date of application.
5. Local Authority searches and enquiries on a purchase can take around five weeks.

Abortive fees

Sometimes a sale or purchase does not proceed for a number of reasons.  We do charge for work undertaken on your behalf in such a situation together with any disbursements incurred on your behalf as follows: