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Residential Conveyancing Pricing

(Current from 6th December 2018)

Thank you for choosing to review our services.  Whether you are a first time buyer or an investor or selling, we are here to help you right the way through your transaction and beyond. 

Why Us

We always provide a quality service at a fair and reasonable price and within that service we will keep you up to date with all the relevant information throughout the transaction and ensure that everything has been properly taken care of for you. 

At each stage of your transaction we will be there for you and ensure we fit your requirements.  If necessary we will also recommend other professionals such as surveyors or independent financial advisors or property valuers all of whom we trust and readily recommend to you at no extra charge.

We have a Property Services Department  made up of excellent and experienced support staff and property lawyers who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner making sure you are well and truly looked after.

We do understand that communication is key and make sure we are available to answer your questions to deal with matters on your behalf and ensure you are kept up to date with anything you need to know throughout the matter. 

As a recognition of our services to clients we have been awarded the Lexcel and CQS accreditations issued by the Law Society.  This involves the property lawyers and the firm undergoing rigorous audit process testing which ensures we maintain high levels of client care and quality control.  This also ensures that we maintain our privileged position on Lenders panels in England and Wales. 

Pricing

Knowing what it’s going to cost is important.  Unless matters are unduly complex or more protracted than usual, we will typically work on a fixed fee basis for you.  There are many instances where it is difficult to advise you on fees but we hope the fees and disbursements below give you a guideline of what can be charged.  If during the transaction, there are matters that are likely to give rise to an increase in fees, this will be discussed with you before any change takes place and you agree the fee review.

We work with a number of leading estate agents and introducers throughout England and Wales. The companies support us in a number of ways such as marketing our services, providing case tracking and update platforms, collecting initial payments and (in purchase transactions) ordering searches and sales progression. This support is a valuable support for us and in return we pay variable referrals fees to these companies, which are depended on the level of support they provide us with. The range of fees paid is between £100 and £600. This is a fee paid by ourselves and is not an additional cost to you.

Our guideline figures for a freehold purchase are set out as:-

 

Fees excluding VAT

£VAT

Freehold residential properties purchase up to £250,000

675.00

135.00

Between £250,000 and £350,000

750.00

150.00

Between £350,000 and £450,000

825.00

165.00

Between £450,000 and £750,000

925.00

185.00

From £750,000 to £1,000,000

1,200.00

240.00

Beyond £1,000,000

1,500.00

300.00

Acting for your lender the charge will be referred to in the offer of mortgage and will be notified in the offer but no less than  

125.00

25.00

Additional fee when acting on a leasehold property

200.00

40.00

When purchasing a leasehold property there may be additional fees to pay such as landlords notice of assignment fees and the like.  We will confirm the amount, if any, to you once we are made aware of the exact details during the course of the Conveyancing but an average charge made by a landlord or management company is in the region of £200.00+£40 (VAT).

Disbursements

Disbursements are costs relating to your matter that are payable to third parties such as the Land Registry or search providers.  We will deal with the payment of disbursements on your behalf as part of the conveyancing process. 

The fees may be subject to change if further information relating to your property becomes available, for example if you require additional searches such as a coal mining search or a tin mining search. 

- Searches

A typical search pack which will include an environmental search, a drainage search, a Local Authority search and a local planning search will total £200 inc VAT

- Land Registry Fees

There will be a requirement to undertake a Land Registry search at the fee of £3.00.

A bankruptcy search fee will be charged at £1.00 per name of each buyer.

These are payable to the Land Registry and are based on the value of the property.  We have agreed with the Land Registry to use the electronic portal or gateway (see column three) which makes it cheaper for the client and a table of fees is set out below for you.

Value or amount

Apply by post

Apply using the portal or Business Gateway,
for transfers or surrenders which affect
the whole of a registered title

Apply using the portal or Business Gateway,
for registration of all leases and transfers or surrenders which affect
part of a registered title

Voluntary first registration (reduced fee)

0 to £80,000

£40

£20

£40

£30

£80,001 to £100,000

£80

£40

£80

£60

£100,001 to £200,000

£190

£95

£190

£140

£200,001 to £500,000

£270

£135

£270

£200

£500,001 to £1,000,000

£540

£270

£540

£400

£1,000,001 and over

£910

£455

£910

£680

- Stamp Duty Land Tax

This disbursement very much depends on many factors not least the purchase price of the property. You can calculate the amount you will need to pay by using HMRC’s website and if the property is located in Wales by using the Welsh Revenue Authority’s website.

HMRC Tax links can be found here: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Welsh Tax links can be found here: https://beta.gov.wales/land-transaction-tax-calculator

Our guideline figures for a freehold Sale of property

Our guideline figures for a freehold sale are set out follows:-

 

Fees excluding VAT

£VAT

Up to £250,000.00

620.00

124.00

£250,000 to £350,000

720.00

144.00

£350,000 to £450,000

775.00

155.00

£450,000 to £550,000

875.00

175.00

£550,000 to £750,000

975.00

195.00

Leasehold properties will incur an additional £200+£40 (VAT) in addition to the figures above.

Disbursements on a sale

Fee payable to HM Land Registry for official copies of the title information

£6.00

Fee payable to HM Land Registry for any additional copy documents within the Land Registry title

£6.00
per document

Our guideline figures for a remortgage of a freehold property

Our guideline figures for a freehold remortgage are set out follows:-

 

Fees excluding VAT

£VAT

Up to £250,000.00

400.00

80.00

£250,000 to £350,000

520.00

104.00

£350,000 to £450,000

620.00

124.00

£450,000 to £550,000

720.00

144.00

£550,000 to £750,000

920.00

184.00

Leasehold remortgage properties will incur an additional £200+£40 (VAT) in addition to the figures above.

Disbursements on a remortgage

Fee payable to HM Land Registry for official copies of the title information

£6.00

Fee payable to HM Land Registry for any additional copy documents within the Land Registry title

Land Registry search fee

Bankruptcy search fee

£6.00
per document

£3.00

£1.00 per person

Land Registry fee to register new mortgage

Value or amount

Apply by post

Apply using the portal or Business Gateway, for transfers of whole, charges of whole, transfers of charges and other applications of whole of registered titles

Apply using the portal or Business Gateway for registration of transfers of part, and all other Scale 2 applications that do not affect the whole of a registered title

0 to £100,000

£40

£20

£40

£100,001 to £200,000

£60

£30

£60

£200,001 to £500,000

£80

£40

£80

£500,001 to £1,000,000

£120

£60

£120

£1,000,001 and over

   

Our guideline figures for an equity release of freehold property

Our guideline figures for a freehold equity release are set out follows:-

 

Fees excluding VAT

£VAT

Up to £350,000.00

520.00

104.00

£350,000 to £550,000.00

720.00

144.00

£550,000.00 to £900,000

920.00

184.00

Leasehold properties will incur an additional £200+£40 (VAT)in addition to the figures above.

Disbursements for an equity release freehold property

Fee payable to HM Land Registry for official copies of the title information

£6.00

Fee payable to HM Land Registry for any additional copy documents within the Land Registry title

Land Registry search

Bankruptcy search fee

£6.00
per document

£3.00

£1.00 per name

Land Registry fees to register new mortgage:-

Value or amount

Apply by post

Apply using the portal or Business Gateway, for transfers of whole, charges of whole, transfers of charges and other applications of whole of registered titles

Apply using the portal or Business Gateway for registration of transfers of part, and all other Scale 2 applications that do not affect the whole of a registered title

0 to £100,000

£40

£20

£40

£100,001 to £200,000

£60

£30

£60

£200,001 to £500,000

£80

£40

£80

£500,001 to £1,000,000

£120

£60

£120

£1,000,001 and over

   

What other fees could be incurred at Glanvilles

Our fees are fixed, however, there may be factors which would typically increase the cost of matter.

Where this is likely to be an additional cost we will make sure we inform you at the earliest opportunity and an estimate of those extra costs will be provided.  To give you more information on guideline fees for additional work, please see the list of additional fees below.  Whilst these fees are not exhaustive, we hope this gives you an idea of what else may be reasonably charged for. 

Our additional fee scale – minimum estimated charges (all plus VAT)

VAT

Gifted deposit work to include letters and declaration form

£150

£30

General power of attorney

£95 (each)

£19

Declaration of Trust

£400

£80

Acting/Dealing with Restrictions/Notices registered on the title

£150

£30

Deed of Postponement/Grant/Variation

£250

£50

Forces Help To Buy scheme

£50

£10

Mutual Deed of Covenant for flying freehold

£250

£50

Transfer of Legal Aid Charge or other current loan

£200

£40

Drafting Additional Contract packages for sale contract race

£200

£40

Deed of Easement (to grant rights)

£250

£50

Statutory Declaration for Title Rectification

£95

£19

Voluntary First Registration for a sale property

£150

£30

Deed of Assignment of Life Policy between policy owners

£200

£40

Fee for arranging additional Bank Telegraphic transfer (within UK)

£40 each

£8

Fee for Bank Telegraphic transfer abroad

£45.00

£9

Deed of Covenant

£100

£20

Title Repair

£200.00

£40

Arranging/negotiating Defect Title Indemnity Insurance 

£50 for each policy

£0

Acting/Dealing with Lender/Beneficiary on

redemption/release of mortgage/financial interest

£100 each mortgage/entry

£20

Drafting terms for conditional contracts

£200

£40

Dealing with shared ownership/shared Equity arrangements

£150

£30

Dealing with equity release schemes

£250

£50

Drafting Declaration of Solvency

£50

£10

Green Deal properties

£250

£50

Properties with Solar Panels

£250

£50

Assumptions

It is only right to advise that our fee assumes that:-

  • The matter will be a standard residential conveyancing and no unforeseen matters arise, including but not limited to a defect in the title which requires remedying prior to completion or preparation of additional documents ancillary to the main transaction. 
  • The transaction is concluded in a timely manner and no unforeseen complication arises.
  • All parties to the transaction are cooperative and there is no unreasonable delay in third parties providing documentation or services.
  • Once instructed, your instructions to us do not change in a material way.  An example of a material change would be that you instruct us that you are buying a property in your sole name but, after we are instructed, you decide to purchase the property jointly with a spouse or some other person.

Exclusions

We do not undertake tax advice, with the exception of reporting and paying the stamp duty on a property transaction.

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  • If a legal title is defective or part of the property is unregistered
  • If you discover building regulations or planning permission has not been obtained
  • If crucial documents, we have previously requested from you have not been provided to us
  • If the property is a new build
  • If any of  the additional items set out above are required

Timescales

On any transaction, the timescales are subject to change depending on many many factors such as mortgage offers, searches, parties within the chain and so on.  The average transaction takes between eight to ten weeks.  It can be slower or quicker, and the following situations may give you an idea of timing scenario’s :-

  1. For a first time buyer purchasing a brand new property with a mortgage in principle it could take 8 weeks if the property is ready for occupation. 
  2. If you are buying a leasehold property that requires an extension to the Lease and raising enquiries from the Landlord or another third party, it can take significantly longer and between 10 – 16 weeks.
  3. If you are buying and selling a property and there is a chain of say three or four requiring mortgages and searches, this may typically take between 8 – 12  weeks.
  4. The average mortgage takes between five and six weeks to be issued from the date of application.
  5. Local Authority searches and enquiries on a purchase can take around five weeks.

Below are the key stages of a sale/purchase matter which we hope prove useful.

Sale

Action/Comment

Purchase

Estate Agent instructed by Seller to market property

Estate Agent recommends Client to instruct Solicitor

Estate Agent shows properties to Buyer

Seller’s Solicitor sends sale costs estimate, Property Information Form and Contents List to Seller.

Taking these steps now will save time later and help to speed transaction

Buyer’s Solicitor sends purchase costs estimate to Buyer and requests search fees

Seller’s Solicitor requests deeds.

Fee payable to Lender

Buyer considers mortgage, survey and Insurance requirements.

If leasehold, Seller’s Solicitor requests information from Managing Agents.

Fee payable to Managing Agents but information requested is essential to satisfy Buyers.

 

Seller accepts offer.

Estate Agent notifies Solicitors.
Unrealistically short timescales
can cause Clients stress!

Buyer’s offer accepted.

Seller’s Solicitor sends Contract pack to Buyer’s Solicitor

Buyer must pay search fees to Solicitor and arrange survey and mortgage
if required.

Buyer’s Solicitor submits local search and other searches, as required.

Seller’s Solicitor answers any additional enquiries raised by Buyer’s Solicitor.

 

Buyer’s Solicitor receives local search result and mortgage instructions if required.

 

Buyer must be able to comply with mortgage conditions and may need to renegotiate via the Estate Agent for works required by survey.

Buyer signs Contract and Mortgage Deed, if required, arranges deposit and property insurance and agrees completion date.


Contracts Exchanged

Completion date/moving date is fixed.

Parties are legally bound.

Deposit is paid.

Seller’s Solicitor informs Estate Agent of completion date.

Estate Agent sends commission account to Seller’s Solicitor.

Buyer insures property from exchange.

Seller’s Solicitor answers
pre-completion enquiries and
approves Transfer Deed

Seller’s Solicitor obtains mortgage redemption figures where appropriate.

Depending on individual Client’s circumstances Solicitors may be able to take some of these steps before exchange to reduce time to completion.
However, any mortgage advance must be available in time and Client may have to make last minute arrangements.

Buyer’s Solicitor raises pre-completion enquiries and drafts Transfer Deed.

Where a mortgage is required, Buyer’s Solicitor reports compliance with mortgage conditions to Lender and requests mortgage loan release.

 

Seller & Buyer confirm removal arrangements.

Buyer’s Solicitor makes final searches and asks Buyer to pay any balance due.

Seller signs Transfer Deed
and agrees key release arrangements.

Any mortgage loan and final balance
need to be cleared funds.
Final searches must be satisfactory.

Buyer signs Transfer Deed.


Completion/Moving Date

Seller’s Solicitor sends Deeds
to Buyer’s Solicitor.

Keys released by Estate Agent
to the Buyer

Buyer’s Solicitor pays price balance.

Seller’s Solicitor pays Estate Agent, pays off any mortgages and accounts charged to Seller.

Now is the time to relax and make a Will

Buyer’s Solicitor pays stamp duty, registers ownership and any mortgage, and sends deeds to Lender or Buyer.