Buying & Selling Your Home

Solicitor Fees For Buying & Selling A House

Our fees cover all of the legal work and other administrative tasks applicable to your property transaction including acting for your lender. This includes dealing with registration at the Land Registry and 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.

The exact solicitor fees for buying or selling a house can depend on a number of factors including the complexity of the transaction and the location of the property. For more information see the below section on what might increase these fees.

We will always be pleased to give you a quotation which will be tailored to your specific requirements. We are proud to offer a number of discounts that you may be entitled to such as to armed service personnel or NHS employees. Please enquire at your local office.

If we are instructed, your transaction will be passed to one of our qualified staff who will lead you through the process from start to finish. We are not a “factory conveyancing firm”. With our team of experienced lawyers you can have confidence in Churchers buying or selling your home.

Churchers are also Conveyancing Quality Scheme and Lexcel accredited. To gain these accreditation Churchers undergo rigorous assessment by the Law Society, which marks the firm out as meeting high standards in the residential conveyancing process.

[Unless expressly stated otherwise, all of the fees and disbursements referred to would be subject to VAT, payable in addition, calculated at the standard rate of 20%.]

Fees Guide for freehold SALE of a property

	Fees (without VAT)	VAT at prevailing rate (currently 20%)
Up to £300,000	950.00	190.00
£300,001-550,000	1,200.00	240.00
£550,001 -800,000	1,350.00	270.00
£800,001-1 million	1,600.00	320.00
Above 1 million	0.2% of sale price plus VAT at the prevailing rate of 20%.

Disbursements/Additional Items applicable to a SALE

Fee payable for copy documents from Land Registry: £7.00 per copy document

Fees Guide for freehold PURCHASE of a property

	Fees (without VAT)	VAT at prevailing rate (currently 20%)
Up to £300,000	1,200.00	240.00
£300,001-550,000	1,300.00	260.00
£550,001 -800,000	1,450.00	290.00
£800,001-1 million	1,700.00	340.00
Above 1 million	0.2% of purchase price plus VAT at the prevailing rate of 20%.

Disbursements/Additional Items applicable to a PURCHASE

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees or HMRC. We handle the payment of the disbursements on your behalf to ensure a smoother process.

SDLT or LLT

SDLT or LLT – this will depend on the purchase price of the property or other “consideration” (which can be the assumption of debt) and whether you have any other personal circumstances which may affect the rate applicable to you. You can calculate the amount you will need to pay by using HMRC Stamp Duty calculator https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#!/intro

https://www.gov.wales/land-transaction-tax-calculator

We will charge a fee of £80 plus VAT to complete and file your SDLT return.

Land Registry Fees

Land Registry fees are payable on a scaled basis depending on the purchase price and whether the property is registered or unregistered. To view the current fee scale please visit https://fee-calculator.landregistry.gov.uk/

We will always be happy to give you an estimate of the applicable Land Registry with our quote on the assumption the property is registered.

Bankruptcy Fee (per name searched): £6.00

Priority Search: £7.00 per search

Searches

A typical search pack which will include a personal local search, an official drainage search, an EnviroRisk search (which includes planning, energy and infrastructure and climate change) will cost £254 plus VAT = £305.00

Remortgage

	Fees (without VAT)	VAT at prevailing rate (currently 20%)
Up to £300,000	450.00	90.00
£300,001-550,000	650.00	130.00
£550,001 -800,000	800.00	160.00
£800,001-1 million	950.00	190.00
Above 1 million	0.1% of the remortgage amount plus VAT at the prevailing rate For example, if you are remortgaging for £1,500,000 then our fee will be £1,500 plus VAT at the prevailing rate

Please note that if you are remortgaging at the same time as completing a Transfer of legal title then this will incur an additional £300 plus VAT

Disbursements/Additional Items applicable to a REMORTGAGE

Fee payable for copy documents from Land Registry: £7.00 per copy document

Priority Search: £7.00 per search

Bankruptcy Fee (per name searched): £6.00

Equity Release

	Fees (without VAT)	VAT at prevailing rate (currently 20%)
Up to £500,000	1,000.00	200.00
£550,001 -800,000	1,350.00	270.00
£800,001-1 million	1,600.00	320.00

Disbursements/Additional Items applicable to a EQUITY RELEASE

Fee payable for copy documents from Land Registry: £7.00 per copy document

Priority Search: £7.00 per search

Bankruptcy Fee (per name searched): £6.00

Additional Fees which MAY be applicable TO YOUR transactions

	Fees (without VAT)	VAT at prevailing rate (currently 20%)
Leasehold Supplement Fee	350.00	70.00
Affordable Housing/Shared Ownership Fee	300.00	60.00
Dealing with a lender (per lender)	150.00	30.00
Dealing with Forces Help to Buy	£150.00	30.00
Help to Buy ISA	£50.00	£10.00
Help to Buy LISA	£75.00	£15.00
Buildings above 11 metres or 5 storeys and therefore subject to the Building Safety Act	£700.00	£140.00

Disbursements/Additional Items applicable to ALL TRANSACTIONS

Electronic Onboarding to comply with Anti Money Laundering Legislation and to check Source of Funds: £14.40 plus VAT = £17.28

Telegraphic Transfer Fee: £35 plus VAT = £42.00

Disbursements/Additional Items applicable to a LEASEHOLD PROPERTY

Notice of Transfer fee – This fee, if chargeable, is set out in the lease. Often the fee is between £25- £200 per notice.*
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £25- £200 per notice.*
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 £25- £200*
Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £25- £200*
Sales packs from a management company (if you are selling) can range from £100 – £450.

*These prices vary from property to property and can on occasion be significantly more than the ranges given above. More often than not, these costs are compulsory as your lender will require compliance and a buyer will need information on the management of the building such as fire risk and service charge expenditure. We will account to you when the information is supplied to us. You should also be aware that ground rent and service charge is likely to apply throughout your ownership of the property and will most likely increase during your period of ownership. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

These charges may be subject to VAT, if the management company is VAT registered.

When might Our Fees increase?

Your SDLT position is complicated
The timescale you ask us to complete matters in has a much quicker turnaround time than is usual
The price varies by more than 10% of the original purchase price
Your property is located outside of the Solent region and within an area which may require special investigations, searches and enquiries e.g. a history of mining or protected hedgerows
You are utilising a government scheme for buying your Property which has its own set of requirements which require compliance and which we will not be aware of until received.
The title is unregistered
A management company in involved
Probate is awaited
A seller or buyer is utilising a LPA or has a deputy appointed
Documentation is missing or there is a defect in title
It is a company buying or selling the Property
If you require unregulated finance such as a bridging loan
Indemnity insurance is required because of a defect in title or missing documentation
If the property you are buying is a newbuild
Having to deal with more than one Management Company
Undertaking detailed due diligence to verify source of funds and wealth

How long will it take……

How long it will take from your offer being accepted to moving into your house will depend on a number of factors and “moving parts”. The average transaction can take between eight to twelve weeks (although in the current climate this is more 3-4 months).

If you are buying a leasehold property or probate is awaited somewhere in the chain – this could increase timescales significantly.

Every transaction is different and you can only move as quickly as the slowest person in the chain.

Step by Step

The precise stages involved in the purchase or sale of a residential property vary according the circumstances. In summary, you can expect as follows:

Taking your instructions and giving you initial advice

Check finances are in place to fund purchase and contact lender’s solicitors if needed
Receive and advise on contract documentation
Carrying out searches and reporting to you on the results
Obtaining copy planning documentation and building regulation documentation if required
Raising any necessary enquiries of the seller’s solicitor based on the contract documentation received and results of surveys and searches
Going through conditions of your mortgage offer with you and correctly executing the mortgage deed. We will also deal with any specific conditions of your mortgage offer to satisfy lender requirements
Sending to you the final contract for your signature
Agreeing a completion date (date from which you own the property)
Exchanging contracts and notifying you that this has happened
Arranging for all monies needed to be received from your lender and from you
Completing the purchase
Dealing with the payment of Stamp Duty/Land Tax
Dealing with the application for registration at Land Registry

If you have any other questions about the process of buying or selling your home or would like to learn more about the solicitor fees involved, please contact us today.

Meet the Team and view their profiles here https://www.churchers.co.uk/services-individuals/buying-selling-your-home/

All matters are dealt with by named individuals and supervised by a Partner.

We are here to help and support you through your transaction. Please contact a member of the Buying and Selling Your Home team on 01329 822 333 for more information regarding Our Fees