Our fees are calculated on a combination of the nature of the property, timescale and price or amount of loan and on the relevant fee-earner’s hourly rate(s).
Timescale
How long each transaction will take is dependent upon a number of factors, including the speed with which third parties supply information, for example, search results; obtaining a management pack (for leasehold properties), and the number of parties in a chain.
The average transaction takes between 2 to 4 months. It can be quicker or slower, depending upon the parties in the chain. For example, if you are a first time buyer purchasing a freehold property with a mortgage (without a chain), in principle, it could take as little as 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, anything between 3 and 6 months and in such a situation, additional charges would apply.
For residential conveyancing, our hourly rates range from £175 to £450, depending on the qualification and expertise of the lawyer carrying out the work.
Average fees for a typical freehold sale without complications for a price ranging from £1,000,001 to £2,000,000
| Legal fee | £2,750.00 – £4,000.00 |
| VAT @ 20% | £500.00 – £750.00 |
| HM Land Registry fees | £6.00 – £30.00 |
These fees are calculated on the basis that:
- The property is held under a single freehold title at the Land Registry with no title defects
- one contract is submitted to one purchaser
- the sale will be on the basis of an unconditional contract and the property is sold with vacant possession
- completion takes place on the date agreed in the contract
If there are any other third party costs and expenses we would advise should any come to light.
The work is likely to consist of the following:
(a) investigating the title to the property and preparing a contract pack for submission to the buyer’s solicitors
(b) negotiating a sale contract
(c) negotiating a transfer document
(d) considering, taking instructions on and replying to enquiries raised by the buyer’s solicitors
(e) proceeding to exchange of contracts and then completion of the sale
(h) where there is an existing mortgage, obtaining mortgage redemption figures and arranging a formal discharge of the mortgage
(i) receiving the completion funds and transferring net sale proceeds to you on completion after payment of the mortgage redemption funds and estate agents commission account (if applicable).
Estimated total cost of transaction: £3,006.00 – £4,530.00
Average fees for a typical freehold purchase without complication for a price ranging from £1,000,001 to £2,000,000
| Legal fee | £3,000.00 – £4,250.00 |
| VAT @ 20% | £550.00 – £800.00 |
Search fees: including but not limited to:
- Local Authority Enquiries
- Local Land Charges
- Drainage & Water
- Environmental
- Flood
- ChancelCheck
| Total estimate search fees | £400.00 – £600.00 |
| VAT on searches | £80.00 – £120.00 |
Certificate of Compliance fee if the title to the property contains a restriction which requires consent or a certificate to be issued by a third party.
HM Land Registry registration fees are based on a sliding scale set by the Land Registry. By way of example, for a purchase of £1,000,001 or more, the fee would be a minimum of £455.
There may be further searches required, once full details of the property are known, and we would provide a more detailed breakdown of such charges in each transaction.
If there are any other third party costs and expenses, we would advise should any come to light.
Stamp Duty or Land Tax (SDLT)
The amount of SDLT payable will depend on the purchase price of the property and your personal circumstances. You can calculate the amount you will need to pay by using the HMRC SDLT calculator or if the property is located in Wales using the Land Transaction Tax (LTT) calculator. For example, the amount will depend upon whether a buyer purchases in his or her own name or in a company and whether they or any non-purchasing spouse owns or has an interest in other residential property anywhere in the world.
These fees are calculated on the basis that:
(a) the property is currently held under a single freehold title at the Land Registry with no title defects
(b) one contract is submitted to one purchaser
(c) the purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession
(d) completion takes place on the date agreed in the contract.
The work is likely to consist of the following:
(a) investigating the title to the property, to include carrying out searches with respect to title and local government information, and reviewing replies given by the seller to pre-contract enquiries and raising further enquiries as necessary
(b) negotiating a purchase contract
(c) negotiating a transfer document
(d) advising you in respect of your mortgage offer (if applicable)
(e) preparing a report on title
(f) proceeding to exchange of contracts and then completion of the purchase
(g) transferring funds by telegraphic transfer to the seller’s solicitors
(h) calculating stamp duty land tax (SDLT) on the purchase and preparing and submitting to HM Revenue & Customs the appropriate SDLT Return and arranging payment of the tax due
(i) registering the purchase and any mortgage at HM Land Registry.
Estimated total cost of transaction (excluding SDLT) £4,235.00 – £5,975.00
Average fees for a typical leasehold sale without complications for a price ranging from £1,000,001 to £2,000,000
| Legal fee | £3,250.00 – £4,250.00 |
| VAT @ 20% | £650.00 – £850.00 |
| Land Registry fees | £15.00 – £30.00 |
These fee are calculated on the basis that:
(a) the property is held under a single leasehold title at the Land Registry with no title defects
(b) one contract is submitted to one purchaser
(c) the sale will be on the basis of an unconditional contract and the property is sold with vacant possession
(d) completion takes place on the date agreed in the contract.
Third party costs such as managing agents fees for providing a standard management pack and Landlord’s solicitors fees for the granting of a licence to assign and/or deed of covenant, if required in accordance with the lease relating to the property, will be additional and will be confirmed once known.
The work is likely to consist of the following:
(a) investigating the title to the property and preparing a contract pack for submission to the buyer’s solicitors
(b) negotiating a sale contract
(c) negotiating a transfer document
(d) considering, taking instructions on and replying to enquiries raised by the buyer’s solicitors
(e) liaising with managing agents to obtain the management pack and in connection with any management enquiries raised by the buyer’s solicitors
(f) liaising with the Landlord’s solicitors in connection with a licence to assign and/or deed of covenant if required under the terms of the lease
(g) proceeding to exchange of contracts and then completion of the sale
(h) where there is an existing mortgage, obtaining mortgage redemption figures and arranging a formal discharge of the mortgage
(i) receiving the completion funds and transferring net sale proceeds to you on completion after payment of the mortgage redemption funds and estate agents commission account (if applicable).
Estimated total cost of transaction: £3,915.00 – £5,130.00
Average fees for a typical leasehold purchase without complications for a price ranging from £1,000,001 to £2,000,000
| Legal fees | £3,750.00 – £4,750.00 |
| VAT @ 20% | £750.00 – £950.00 |
Search fees: including but not limited to:
- Local Authority Enquiries
- Local Land Charges
- Drainage & Water
- Environmental
- Flood
- ChancelCheck
| Total estimate search fees | £400.00 – £600.00 |
| VAT on searches | £80.00 – £120.00 |
There may be further searches required once full details of the property are known and we would provide a more detailed breakdown of such charges in each transaction.
Additional costs:
- HM Land Registry Registration fees are based on a sliding scale set by the Land Registry. For a purchase of £1,000,001 or more, the fee would be a minimum of £455.
- Notice of Transfer.
- Notice of Charge (if applicable).
- Notice fees are payable to the Landlord, Management Company or Managing Agents.
- Certificate of Compliance fee if the title to the property contains a restriction which requires consent or a certificate to be issued by a third party.
- Third party costs may also be involved if, for example, the lease requires us to agree a Licence to Assign and/or a Deed of Covenant and we would provide details of any such additional costs.
Stamp Duty or Land Tax (SDLT)
The amount of SDLT payable will depend on the purchase price of the property and your personal circumstances. You can calculate the amount you will need to pay by using the HMRC SDLT calculator or if the property is located in Wales using the Land Transaction Tax (LTT) calculator. For example, the amount will depend upon whether a buyer purchases in his or her own name or in a company and whether they or any non-purchasing spouse owns or has an interest in other residential property anywhere in the world.
These fees are calculated on the basis that:
(a) the property is held under a single leasehold title at the Land Registry with no title defects
(b) one contract is submitted to one purchaser
(c) the purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession
(d) completion takes place on the date agreed in the contract
The work is likely to consist of the following:
- investigating the title to the property, to include carrying out searches with respect to title and local government information, and reviewing replies given by the seller to pre-contract enquiries and raising further enquiries as necessary
- negotiating a purchase contract
- negotiating a transfer document
- advising you in respect of your mortgage offer (if applicable)
- preparing a report on title and lease
- proceeding to exchange of contracts and then completion of the purchase
- transferring funds by telegraphic transfer to the seller’s solicitors and for relevant taxes
- calculating stamp duty land tax (SDLT) on the purchase and preparing and submitting to HM Revenue & Customs the appropriate SDLT form
- registering the purchase and any mortgage at HM Land Registry
- serving notice of Transfer and charge (if applicable) on the Landlord.
Estimated total cost of transaction (excluding SDLT) £5,435.00 – £6,875.00
Typical Re-Mortgage for a mortgage advance of between £500,000 to £1,500,000
| Legal fees | £1,500.00 – £2,500.00 |
| VAT @ 20% | £300.00 – £500.00 |
Search fees: including but not limited to:
- Local Authority Enquiries
- Local Land Charges
- Drainage & Water
- Environmental
- Flood
- ChancelCheck
| Total estimate search fees | £400.00 – £600.00 |
| VAT on searches | £80.00 – £120.00 |
There may be further searches required once full details of the property are known and we would provide a more detailed breakdown of such charges in each transaction.
Certificate of Compliance fee if the title to the property contains a restriction which requires consent or a certificate to be issued by a third party.
Notice of Charge (if applicable).
HM Land Registry registration fees which are based on a sliding scale set by the Land Registry. For a mortgage of £500,001 or more, the fee would be a minimum of £60.
If there are any other third party costs and expenses we would advise should any come to light.
Sometimes lenders require separate representation from the borrower and in those circumstances the borrower would be responsible for both his or her own legal costs and the lender’s legal costs.
The work is likely to consist of the following:
- investigating the title to the property, to include carrying out searches with respect to title and local government information
- answering lender’s solicitors enquiries (if separately represented)
- advising you in respect of your mortgage offer and mortgage terms
- reporting to the lender and submitting certificate of title
- obtaining redemption statement(s) and existing lender’s requirements for discharge
- transferring funds by telegraphic transfer to redeem the existing lender’s charge
- registering the discharge and mortgage at HM Land Registry.
Estimated total cost of transaction: £2,340.00 – £3,780.00
Possible Complexities
If matters or complexities arise on the transaction which could not reasonably have been foreseen at the beginning of the transaction we may have to increase our charges. If that is the case, we would advise of such additional costs once it has become apparent that they will be payable.
Typical complexities may include:
- if a legal title is defective or part of the property is unregistered
- if building regulations approval or planning permission has not been obtained
- if the property is a listed building
- if the property is in the course of construction or conversion
- if crucial documents requested from a client or third party are not provided at all or in a timely manner.
Experience and qualification of people undertaking residential conveyancing work at Brecher is set out in the People section of this website. The relevant people are:
