Conveyancing & Property
Helping make your property transaction exciting, not exhausting.
Price Transparency
We are required by regulators to publish on our website details of the costs which we charge dealing with particular types of work. This page therefore sets out the “standard” fee which we charge for dealing with different types of residential property transaction.
Whilst we work hard to be competitive on price, the focus of this firm is to deliver a high quality service rather than providing the cheapest possible service. You may be able to obtain cheaper quotes by shopping around, but we would always ask you ensure you are comparing “like-for-like” when you receive alternative quotes.
All of our conveyancing work is dealt with personally by one of our experienced team of property lawyers, rather than an unqualified clerk or a call centre. All of our lawyers have dedicated secretaries so if you are unable to speak to our lawyer when you call, that person’s secretary should be available to help.
We believe that no-one in the entire legal market is more passionate about providing the very highest levels of customer service. As a result 99% of BRR Law clients say they will use our services again and would recommend us to others, for the reasons below: –
- Our Clear Price Guarantee
- Our use of plain language you will understand
- We are used to dealing with urgent timetables
- A dedicated property department – your Lawyer will not spend 3 or 4 days a week in Court
- We will do all we can to make your move go as smoothly as possible
- Your file will be dealt with personally throughout by a single lawyer, rather than a call centre
- Our up to date IT system
We are very proud that we were first Scunthorpe firm to obtain membership of the Law Society’s Conveyancing Quality Scheme – a kite mark for quality and competence in conveyancing work.
Purchase of a residential property
Our fees cover all of the work required to complete a ‘standard’ purchase transaction, 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.
There are circumstances in which we may have to charge additional fees if there are issues to do with the property which we need to resolve; or depending on your personal circumstances. We will let you know what that additional cost is and why it is necessary before incurring it, so there are no ‘nasty surprises’ when you receive our final invoice.
Our “standard” fee varies depending of the value of the property in question.
| Property Price | Standard Fee (£) | VAT at 20% (£) |
|---|---|---|
| £1 – £79,999.99 | £675.00 | £135.00 |
| £80,000 – £149,999.99 | £725.00 | £145.00 |
| £150,000 – £249,999.99 | £775.00 | £155.00 |
| £250,000 – £349,999.99 | £875.00 | £175.00 |
| £350,000 – £499,999.99 | £975.00 | £195.00 |
| £500,000 – £749,999.99 | £1,075.00 | £215.00 |
| £750,000 – £999,999.99 | £1,200.00 | £240.00 |
| £1,000,000 – £1,499,999 | £1,500.00 | £300.00 |
| £1,500,000+ | £2,250.00 | £450.00 |
If the property which you are buying is leasehold, we charge an additional supplement of £350 plus VAT (20%) to cover the additional work which we have to do because the property is leasehold. This includes corresponding with the landlord and, if relevant, the managing agent on your behalf.
We also charge a standard fixed fee of £30 plus VAT (20%) for every same-day electronic transfer of funds which we have to arrange on your behalf. Typically, on a purchase, we only need to make one such payment when we send the purchase price to the seller’s solicitors on completion of the purchase. If we need to make any additional payments like this, we will let you know in advance.
Disbursements for a purchase
We will also ask you to reimburse any ‘Disbursements’ which we have to pay on your behalf. 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.
In most purchases, these fees are as follows
Search fees £154.00 (Local Authority Search, Environmental Search and Water & Drainage Search)
Pre-completion Search Fees £10.00 (approx.)
Land Registry Registration Fees
We have to pay a fee to the Land Registry to have them register you as owner of the property. This fee will vary depending on (1) the purchase price of your property and (2) the nature of the transactions. You can calculate the exact amount you will need to pay by using the Land Registry’s website (http://landregistry.data.gov.uk/fees-calculator.html) but a table is set out below showing the fees payable in the majority of cases.
Most property purchases involve the transfer of one whole property which is already registered with the Land Registry. These ‘standard’ transactions attract a lower Land Registry fee, which is set out below. If the transaction is more complicated however (because the property is unregistered when you buy it or because you are buying part of a larger property, like on a new-build purchase) then the higher fee may be payable.
| Property Price | Standard Fee (£) | Higher Fee (£) |
|---|---|---|
| 0 – 80,000 | 20.00 | 45.00 |
| 80,001 – 100,000 | 40.00 | 95.00 |
| 100,001 – 200,000 | 100.00 | 230.00 |
| 200,001 – 500,000 | 150.00 | 330.00 |
| 500,001 – 1,000,000 | 295.00 | 655.00 |
| 1,000,001 and over | 500.00 | 1105.00 |
Of course, we will let you know which fee is payable as soon as we see the seller’s title documents.
Stamp Duty Land Tax
The Government have announced that stamp duty is being cut. No stamp duty will be paid on the first £250,000 of a property, and for first-time buyers the threshold will be £425,00.
They say these measures will take more than 200,000 buyers out of paying for stamp duty altogether.
They say these cuts are permanent, and effective from today [23rd September 2022]
Whether you have to pay this tax and, if so, how much you have to pay depends on the purchase price of your 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 here.
We charge a fixed fee of £50 plus VAT (20%) for completing and submitting the Stamp Duty Land Tax return to HMRC on your behalf.
Additional costs payable on a Leasehold Purchase
If the property you are buying is leasehold then it is likely that there will be further charges payable to third parties, most notably “notice fees” payable to the landlord and/or managing agents. Whether you have to pay these fees and how much these fees are will vary depending on the terms of the lease and the landlord and managing agent’s procedures. We will let you know what these additional charges are as soon as we know what they are. The fees payable vary from property to property.
Sale of a residential property
Our fees cover all of the work required to complete a ‘standard’ sale transaction including obtaining your title documents and providing those to the buyer’s solicitors with a draft contract, then helping you deal with any pre-contract enquiries which the buyer’s and their solicitors might raise.
There are circumstances in which we may have to charge additional fees if there are issues to do with the property which we need to resolve; or depending on your personal circumstances. We will let you know what that additional cost is and why it is necessary before incurring it, so there are no ‘nasty surprises’ when you receive our final invoice.
Our “standard” fee varies depending of the value of the property in question.
| Property Price | Standard Fee (£) | VAT at 20% (£) |
|---|---|---|
| £1 – £79,999.99 | £650.00 | £130.00 |
| £80,000 – £149,999.99 | £700.00 | £140.00 |
| £150,000 – £249,999.99 | £750.00 | £150.00 |
| £250,000 – £349,999.99 | £850.00 | £170.00 |
| £350,000 – £499,999.99 | £950.00 | £190.00 |
| £500,000 – £749,999.99 | £1050.00 | £210.00 |
| £750,000 – £999,999.99 | £1200.00 | £240.00 |
| £1,000,000 – £1,499,999 | £1,500.00 | £300.00 |
| £1,500,000+ | £2,250.00 | £450.00 |
If the property which you are buying is leasehold, we charge an additional supplement of £350 plus VAT (20%) to cover the additional work which we have to do because the property is leasehold. This includes corresponding with the landlord and, if relevant, the managing agent on your behalf.
We also charge a standard fixed fee of £30 plus VAT (20%) for every same-day electronic transfer of funds which we have to arrange on your behalf. Typically, on a sale, we need to make two such payments, one to pay off your mortgage and a second to send the net sale proceeds to you. If we need to make any additional payments like this, we will let you know in advance.
Disbursements for a purchase
We will also ask you to reimburse any ‘Disbursements’ which we have to pay on your behalf. 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.
In all sales, we will have to pay to obtain copies of your title deeds from the Land Registry, or fees payable to the Land Charges Department at the Land Registry if the property is unregistered. These fees may be as much as £30 or £40 but in the majority of cases, they will be as little as £6.
Additional costs payable on a Leasehold Sale
If the property you are buying is leasehold then it is likely that there will be further charges payable to third parties, most notably fees payable to the landlord and/or managing agents. Whether you have to pay these fees and how much these fees are will vary depending on the terms of the lease and the landlord and managing agent’s procedures. We will let you know what these additional charges are as soon as we know what they are. The fees payable vary from property to property.
How long will my transaction take?
The length of time it takes from an offer being accepted until you can move depends on a number of different factors. The average process takes between 8 and 10 weeks.
It can be quicker or slower, depending on the parties in the chain and the nature of the transactions involved. For example, if you are a first time buyer, purchasing a new build property and you already have a mortgage in principle, it could take fewer than 8 weeks. Alternatively, if you are selling a leasehold property that requires an extension of the lease, and you are part of a ‘chain’ this can take significantly longer, between 3 and 4 months.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Take your instructions and give you initial advice
- Obtain copies of your title documents and consider those
- Draft contract documents and send those to the buyer’s solicitor
- Answer any enquiries raised by your buyer’s solicitor
- Give you advice on all documents and information received
- Advise on the redemption of your existing mortgage
- Approve the transfer documents sent to us by the Buyer’s solicitor
- Send final contract and transfer deed to you for signature
- Agree completion date (the date you move out of the property)
- Exchange contracts and notify you that this has happened
- Complete purchase
- Repay your mortgage
- Account to you for the net sale proceeds.
Have a question or need some help? Ask An Expert or call us today on 01724 854000
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