PRICE INFORMATION FOR SALES, PURCHASES AND RE-MORTGAGES
Our Residential Conveyancing Team fees cover all of the work required to complete the sale of your property or 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. Below we set out the price information followed by the key stages involved in a sale, a purchase and a re-mortgage.
Please note the below applies to residential conveyancing only (i.e. the sale or purchase of an existing property). If you are buying or selling a shared ownership property please see our Shared Ownership/New Build Fees at the following link: https://www.prince-evans.co.uk/shared-ownership-acquisition-and-disposals/
How long will it take?
How long it will take from an offer being accepted until you can complete on your sale and/or purchase will depend on a number of factors outside of our control (such as the length and progress of any chain). The average process takes between 8-12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer.
The average process for a re-mortgage is approximately 4-8 weeks.
SALE – PRICE AND SERVICES INFORMATION
| PRICE | FEE |
| For properties up to £1m | £1695 plus VAT |
| For properties over £1m | Please contact the Residential Conveyancing Team for a bespoke quote |
Disbursements and Additional Fees
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.
| Leasehold Pack from your Landlord/Management Company (if leasehold) – Estimated | Between £150-£350 plus VAT |
| Leasehold Property Fee | £695 plus VAT |
| Redemption of Mortgage | £295 plus VAT |
| Electronic Payment (per payment) | £30 plus VAT |
| Compliance and Administration Fee | £50 plus VAT |
The Key Stages of a Sale:
The precise stages involved in the sale of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your sale are:
- Take your instructions and give you initial advice
- Obtain copies of your title and check for any restrictions on the sale
- Draft and prepare contract papers for the buyer’s solicitor
- Receive and reply to any enquiries raised by the buyer’s solicitor (and advise you and take instructions from you accordingly)
- Obtain a settlement figure for any mortgages on the property
- Send final contract to you for signature
- Agree completion date (date you move out of the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Redeem any mortgages on the property
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 complications 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
Please contact us for a personalised fee estimate at resi@prince-evans.co.uk or on Tel: 020 8567 3477.
PURCHASE – PRICE AND SERVICES INFORMATION
| PRICE | FEES |
| For properties up to £1m | £1795 plus VAT |
| For properties over £1m | Please contact the Residential Conveyancing Team for a bespoke quote |
Additional Fees and Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Below is a list of possible additional fees and disbursements:
| Search Fees (Estimated) (includes Local Search, Drainage Search, Environmental Search and Chancel Repair Insurance) (inc. VAT) | £300 |
| Leasehold Property Fee | £695 plus VAT |
| Management fee | £295 plus VAT |
| Submitting SDLT (Stamp Duty) | £250 plus VAT |
| Mortgage Fee | £495 plus VAT |
| If Leasehold Notice of Transfer/Charge on the Landlord – Estimated | £200 plus VAT |
| Help To Buy ISA or Lifetime (if applicable) | £50 plus VAT |
| Electronic Payment (per payment) | £30 plus VAT |
| Compliance and Administration Fee | £80 plus VAT |
| Gifted Deposit Fee (per gift) | £120 plus VAT |
| Declaration of Trust | £595 plus VAT |
You may need to pay government fees, in addition, such as Stamp Duty and Land Registry fees. We will provide you with estimates when we give you a quotation.
The Key Stages of a Purchase
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your purchase are:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Report to you on the mortgage offer
- Send final contract to you for signature
- Agree completion date (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 lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
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 complications 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
Please contact us for a personalised fee estimate at resi@prince-evans.co.uk or on Tel: 020 8567 3477.
RE-MORTGAGE – PRICE AND SERVICES INFORMATION
| FREEHOLD | LEASEHOLD |
| £1295 plus VAT | £1695 plus VAT |
Additional Fees and Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
| Compliance and Administration Fee | £50 plus VAT |
| Leasehold Pack from your Landlord/Management Company (if leasehold and if required) – Estimated | Between £150-£350 plus VAT |
| Management fee | £295 plus VAT |
| Search Fees (Estimated and if required) (includes Local Search, Drainage Search, Environmental Search and Chancel Repair Insurance) (inc. VAT) | £300 |
| Search Indemnity Insurance (if searches are not required) – Estimated | £20-£100 |
The Key Stages of a Re-mortgage
The precise stages involved in a re-mortgage of a residential property vary according to the circumstances. However, the key stages we will need to carry out for your re-mortgage are:
- Take your instructions and give you initial advice
- Obtain copies of and investigate title to the property on behalf of the mortgage lender
- Carry out searches (or obtain search insurance)
- Report to you on the mortgage offer
- Request mortgage funds
- Complete your re-mortgage
- Deal with application for registration at Land Registry
Please contact us for a detailed quote specific to your individual circumstances at:
Email: resi@prince-evans.co.uk
Telephone: 020 8567 3477
VAT will be charged at a 20%, or the prevailing rate at the time the Firm’s invoice is raised.