The following sets out the costs and conveyancing fees for the sale or purchase of a residential property which is either:
- Freehold sale or purchase
- Leasehold sale or purchase
- Mortgages or re-mortgages
Please note that the fees will vary dependent on the purchase value of your property and a list of our average fees is below.
|House Price||Our Fees|
|£0-£50,000||£500 + VAT|
|£50,001 – £100,000||£550 + VAT|
|£100,001 – £150,000||£600 + VAT|
|£150,001 – £200,000||£650 + VAT|
|£200,001 – £250,000||£700 + VAT|
|£250,001 – £300,000||£750 + VAT|
|£300,001 – £350,000||£800 + VAT|
|£350,001 – £400,000||£850 + VAT|
|£400,001 – £450,000||£900 + VAT|
|£450,001 – £500,000||£1,000 + VAT|
|Above £500,000 are bespoke|
Every house is different and once we have established the facts of your individual sale or purchase, we can give an indication of any additional legal costs that may be incurred so that you are aware of the cost up front. However, as a guide please see below:
|Leasehold properties without a management company||£100 + VAT|
|Leasehold property with 1 management company (additional management companies charged at £100 + VAT)||£200 + VAT|
|New build properties||£300 + VAT|
|Help to Buy mortgage||£150 + VAT|
|Help to Buy ISA||£30 + VAT|
|Re-mortgage||£350 + VAT|
|Re-mortgage and transfer of equity into 2 names||£450 + VAT|
|Re-mortgage and transfer of equity into 1 name||£500 + VAT|
|Leasehold property surcharge||£100 + VAT|
What do the fees include?
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.
Additional fees or disbursements
These are costs related to your matter that are payable to third parties, such as Land Registry fees. Farleys will handle the payment of the disbursements on your behalf to ensure a smoother process.
Please note that these fees can vary depending on the property and /or any related management companies or freeholders, and we can give you a better idea of these one we have further details on your individual circumstances.
- HM Land Registry Fee: Current Registration Fees
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100 – £300+VAT
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100 – £300+VAT
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100 – 300+VAT.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100 – £200 + VAT
For leasehold properties – you should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
What are the stages involved in purchasing a property?
One you’ve had an offer accepted and chosen to instruct a lawyer for conveyancing, the following stages will apply following instruction and initial advice:
- Your case handler will check that finances are in place to fund the purchase and contact the lender’s solicitors if needed.
- Contract documents will be prepared and reviewed to raise any initial issues or enquiries.
- Mandatory conveyancing searches will then be undertaken, which make give rise to additional queries or issues that need to be resolved.
- If required, your case handler may need to obtain planning and Building Regulation documentation.
- Once all parties are happy with everything, your case handler will arrange the signing of the transaction documents. We would also usually request the balance of the purchase funds from you at this stage.
- A completion date will be agreed, (the date from which you own the property) and contracts will be exchanged and your mortgage advance will be requested from your lender. Once contracts have been exchanged, both sides are legally obliged to go through with the sale.
- On the completion date we will transfer the funds required to complete your purchase to the seller’s solicitor and notify you once the seller’s solicitor acknowledges receipt.
- Your case handler will then deal with payment of Stamp Duty Land Tax and application for registration at Land Registry.
What qualifications do the team hold?
All of Farleys conveyancing work is supervised by a qualified solicitor. Specific experience of individual team members can be seen in the team member profiles.