info@stevensdrake.com
01293 596900
HomeAbout UsBusinessPersonalNews & ArticlesContactReceived a debt collection letter?Download our 'Income and Expenditure' form here

Charging for our Services: Conveyancing

Our aim is to be as transparent as possible about the way in which we charge for our services. With this in mind

We will always advise you as to our fees in advance

We charge a fixed price for our work. In addition:

We charge VAT on our fees (currently the rate is 20%)

We will incur third-party fees and expenses (“disbursements” - see below) that you will have to pay

You will also be liable to pay any taxes (for example, Stamp Duty) (normally limited to purchases)

We will keep you regularly updated of any relevant developments as we go along, including where unforeseen matters arise which may require an increase in the fee agreed between us

You can contact Karen Healey (Head of our Residential Conveyancing Team) to discuss further 01293 596964

Our Fees

Our fees cover all of our work ordinarily required to complete the sale and/or purchase (or re-mortgage) of your home:

Sale of a Freehold Property +

Property Value - £0-£250,000 – From £750 plus Vat

Property Value - £250,001 - £350,000 – From £825 plus Vat

Property Value - £350,001 - £500,000 – From £895 plus Vat

Property Value - £500,001 and above contact us

In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat (usually, on the redemption of an existing mortgage).

We handle the payment of the disbursements on your behalf to ensure a smoother process.

Where we instruct a barrister to represent you at a hearing relating to an Employment Tribunal claim, the barrister’s fee can vary quite significantly depending on the experience and seniority of the barrister concerned.  However, we would normally expect fees of between £1,250 and £2,000 plus VAT per day for representing you at a Tribunal Hearing (including preparation).

There are currently no fees to pay to theTribunal for making a claim to it.

Purchase of a Freehold Property +
£250,001 - £350,000
£350,001- £500,000
Bank Transfer Fee
From £895 + Vat
From £795 + Vat
£35+ VAT
£35+ VAT
From £850 + Vat
£35+ VAT
£0-£250,000
£75+ VAT
£75+ VAT
£75+ VAT
SDLT Return Fee
Total of our Fees
Conveyancing  Fee
From £905 + VAT
From £960 + VAT
From£1,005 + VAT
Property Value
£250,001 - £350,000
£350,001- £500,000
Bank Transfer Fee
From £895 + Vat
From £795 + Vat
£35+ VAT
£35+ VAT
From £850 + Vat
£35+ VAT
£0-£250,000
£75+ VAT
£75+ VAT
£75+ VAT
SDLT Return Fee
Total of our Fees
Conveyancing  Fee
From £905 + VAT
From £960 + VAT
From£1,005 + VAT
Property Value

Property Value - £500,001 and above please contact us

In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat, and a fee for completion of Stamp Duty Land Transaction Return of £75 plus Vat. You will also have the Stamp Duty to pay, see below

Sale of a Leasehold Property +

Property Value - £0-£250,000 – From £775 plus Vat

Property Value - £250,001 - £350,000 – From £825 plus Vat

Property Value - £350,001 - £500,000 – From £895 plus Vat

Property Value - £500,001 and above contact us

In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat (usually, on the redemption of an existing mortgage).

Purchase of a Leasehold Property +
£250,001 - £350,000
£350,001- £500,000
Bank Transfer Fee
From £895 + Vat
From £795 + Vat
£35+ VAT
£35+ VAT
From £850 + Vat
£35+ VAT
£0-£250,000
£75+ VAT
£75+ VAT
£75+ VAT
SDLT Return Fee
Total of our Fees
Conveyancing  Fee
From £905 + VAT
From £960 + VAT
From£1,005 + VAT
Property Value

Property Value - £500,001 and above contact us

In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat, and a fee for completion of Stamp Duty Land Transaction Return of £75 plus Vat.

You will also have the Stamp Duty to pay, see below.

£250,001 - £350,000
£350,001- £500,000
Bank Transfer Fee
From £895 + Vat
From £795 + Vat
£35+ VAT
£35+ VAT
From £850 + Vat
£35+ VAT
£0-£250,000
£75+ VAT
£75+ VAT
£75+ VAT
SDLT Return Fee
Total of our Fees
Conveyancing  Fee
From £905 + VAT
From £960 + VAT
From£1,005 + VAT
Property Value
Simply re-mortgaging or mortgaging your property +

New loan amount - £0 - £250,000 – from £550 plus Vat

New loan amount - £250,001 - £500,000 from £600 plus Vat

New loan amount £500,001 and above please contact us

In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat (usually, on the redemption of an existing mortgage).

For other services, such as transfers of equity, please contact us

Our costs are for advising you, handling for you and keeping you updated on all the ordinary steps in the transaction +

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, most transactions will involve the following:

• Take your instructions and give you initial advice
• Purchases and mortgage/re-mortgages: Check finances are in place (to fund purchase/discharge existing mortgage) and contact lender's solicitors if needed
• Draft (selling) or receive (purchasing) and advise on contract documents
• Purchases and mortgage/re-mortgages: Carry out searches
• Purchases and mortgage/re-mortgages: Obtain further planning documentation if required
• Make any necessary enquiries of seller's solicitor/deal with purchaser’s enquiries
• Give you advice on all documents and information received
• Purchases and mortgage/re-mortgages: Advise you on joint ownership
• Purchases and mortgage/re-mortgages: Go through conditions of mortgage offer with you
• Send final contract to you for signature
• For leasehold purchases: obtain pre-completion searches
• Agree a completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Purchases: Draft Transfer
• Send Transfer to you for signature
• Arrange for all monies needed to be received from (lender and) you
• Complete sale/purchase
• Purchasers: Deal with payment of Stamp Duty/Land Tax
• Purchases and mortgage/re-mortgages: Deal with the application for registration at Land Registry

How long it will take from your offer being accepted until you can move into your house (or for your mortgage/re-mortgage to complete) will depend on a number of factors.

The average process takes between 6-10 weeks +

It can be quicker or slower, depending on many circumstances.

• If you are a first time buyer, purchasing a new build property with a mortgage agreed and offered in principle, it would be in the lower end of the range. If you are in a chain, then there are various parties that need to coordinate, and by virtue of the chain, it goes at the pace of the slowest party.
• Some of the steps rely upon third parties producing documentation (for example, searches).
• It can occasionally take significantly longer then the above estimate, if unforeseen complications arise; for example, defective title may need rectifying, or indemnity policies need procuring
• The transaction or the provision of documents by third parties is delayed or disputes arise - our estimate assumes it is concluded in a timely manner, and all parties to the transaction are co-operative
• If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months on average. In such a situation additional charges would apply.

Our fee includes dealing with registration at the Land Registry, and most matters ordinarily encountered in acting and advising for you and completing the transaction. There are additional fees:

• On purchases (and mortgages and re-mortgages if – unusually – they involve a change in ownership) for dealing with   your 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: of £75 plus VAT for completion of the Stamp Duty Land Transaction Return.

• Where we make an electronic bank transfer on your behalf there is a Bank Transfer fee (per transfer) of £35 plus Vat

• Where buying with a Help to Buy ISA we charge a further £50.00 plus Vat

• Where another solicitor is appointed to act for your lender we charge a further £100 plus VAT

• If Personal Guarantee advice is required for the Directors of a Company Borrower.  We will provide a separate quote for this. Please contact us

All disbursements (such as Land Registry fees) and taxes will also be payable by you in addition.

Our fees assume this is a straightforward transaction and no unforeseen matters arise. Some cases, however, can be substantially more complex or have unexpected issues.

If an unforeseen complication does arise, we will agree any additional fees with you first +

Unforeseen matters can include (but are not limited to)

• a defect in title which requires remedying prior to completion

• the preparation of additional documents ancillary to the main transaction

• the transaction or the provision of documents by third parties is delayed or disputes arise (our fee assumes it is concluded in a timely manner, and all parties to the transaction are co-operative)

• prioritisation of your transaction necessitated by a quick completion/reduced transaction time

• if indemnity policies are required

• if it is a Shared Ownership transaction;

• on leasehold transactions, the grant of a new lease (our fee assumes an assignment of an existing lease) or there is a requirement to extend the existing lease

• On leasehold properties, in particular, the fees vary from property to property, and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We will obtain these third party’s fees from you and pay these disbursements on your behalf to ensure a smoother process. We will advise you of what disbursement will apply to your specific transaction and the cost of these.

Typically, on purchases or mortgage/re-mortgages +

• Searches – from £80 (these vary from Council to Council geographically)

• Bankruptcy Search - £2 per name

• Land Registry Search - £3 per title

• Land Registry Title - £3 per title

• Land Registry Fee for registering your purchase or mortgage/re-mortgage – please visit the Land Registry website - https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

• Companies House fee (where appropriate) – £23 currently or please visit the Companies House website

• Winding Up Petitions Search fee - £5.40

Additionally, where the purchase or mortgage/re-mortgage is of a Leasehold property, there will also be:

• Notice of Transfer fee – as set out in the lease but commonly from £50 - £200 plus Vat

• Notice of Charge – (if bought with a mortgage) as set out in the lease but commonly from £50 - £200 plus Vat per notice

• Deed of Covenant fee – if a requirement in the lease.  The fee is charged by the management company/managing agent and is estimated from £200 plus Vat

• Certificate of Compliance fee – if required in the lease.  Commonly from £150 plus Vat charged by the management company/managing agent.

• Share Certificate issue fee – charged by the management company/managing agent from £50 plus Vat

Typically, on sales +

Land Registry current title download - £6-15

Additionally, where the sale is of a Leasehold property, there will also be:

• Leasehold Service Charge pack –from £150 plus Vat depending on how much the agent charges.
• Leasehold Ground Rent pack – from £150 plus Vat depending on how much the agent charges.

Stamp Duty

Stamp Duty Land Tax is payable on purchases. Please visit:

• The HMRC website
• Or if the property is in Wales, the Welsh Revenue Authority website

Who to contact to learn more

Our Conveyancing Team is one of the most experienced in the South East, headed by Karen Healey and assisted by a small team of experienced trained Conveyancing Assistants. Contact us for more information, or to see what we can do for you; or fill in our online enquiry and we will get back to you as soon as possible.