Our fees cover all of our work ordinarily required to complete the sale and/or purchase (or re-mortgage) of your home:
Sale/Purchase +
In addition to our standard conveyancing fee, there is a Bank Transfer fee (per transfer) of £35 plus Vat.
Please note that the following supplements may apply to your transaction:
Please note that, in addition to our fees, it is common for third-party disbursements to be payable. A full breakdown can be provided upon request, but common examples may include:
You may also be liable to pay Stamp Duty Land Tax in respect of your transaction, and you can calculate the amount payable by visiting the Stamp Duty Land Tax Calculator or Calculate Land Transaction Tax | GOV.WALES if the property is in Wales.
There may be other taxes payable in respect of your transaction. Please note that we are not able to offer tax advice, and you should seek advice from a suitably qualified professional in this regard.
This list is not exhaustive, and there may be other disbursements payable which are not listed above.
Whilst we endeavour to conduct your transaction on a fixed fee basis, if your transaction falls outside the scope of our usual fixed fee services, we may need to charge you on a time spent basis. If this becomes necessary, we shall, of course, advise you and provide you with a note of our hourly rates.
We will review the documents received from the loan provider and report on the terms of the Help to Buy Equity Loan to you and the lender. We reserve the right to add an additional £450 plus VAT in respect of the additional work involved.
If your Lease is defective and you require a Deed of Variation drawn up to rectify the defect, we reserve the right to charge an additional £500 plus VAT in respect of the additional work involved.
This type of ISA is used to provide a top up bonus on the savings of 25% to assist towards a purchase. We reserve the right to add £50 plus VAT per ISA for the administration of this during the transaction.
The Lifetime ISA is designed to help you save for your first property or for your retirement. We reserve the right to add £150 plus VAT per LISA for the administration of this during the transaction.
Where there is a Company Purchase requiring a mortgage, the mortgage lender will require that we answer a lot of special condition requirements in their mortgage which could include full Company documentation and minutes and registration of a Legal Charge at Companies House. This will involve us in additional time spent on the file and we reserve the right to charge an additional £500 plus VAT.
Direct negotiation with Landlord
If you are extending your lease by direct negotiation with the Landlord we will charge from £1,250 plus VAT to deal with approval of the draft lease, obtaining consent of any Lender, completion and registration at the Land Registry.
Section 42 lease extension route
If you extend your lease via the statutory route, we will charge £500 plus VAT for the preparation of the S42 Notice plus £1,250 plus VAT for the approval of the draft lease, obtaining consent of any Lender, completion and registration at the Land Registry.
If you require a Transfer of Equity, our fees are £1,250 plus VAT for a freehold property and £1,600 for a leasehold property.
In addition, if there is an existing mortgage over the title to the property, our fees for a freehold transfer of equity with an existing mortgage are £1,350, and for a leasehold property with an existing mortgage are £1,700. There will be an additional fee of £250 plus VAT for each additional mortgage over the title to the property.
Our fees for dealing with a remortgage are £1,250 plus VAT. If the property is leasehold, our fees are £1,600.
Our fees for dealing with a remortgage and transfer of equity are £1,450 plus VAT. If the property is leasehold, our fees are £1,800.
Bank Transfer fee (per Transfers) - £35 plus VAT
Completion of Stamp Duty Land Transaction return (purchase/transfer of equity) - £75 plus VAT
These are payments related to your matter which are payable to third parties such as Land Registry fees. We pay such payments on your behalf. These include:
Purchase
Leasehold Purchase
Disbursements
Leasehold Sale
* If you have more than one managing agent it follows that there may be additional fees.
Including for example (but not limited to):
Some cases can be substantially more complex or have unexpected issues. In those instances, additional fees may be payable. Details will be provided if and when they arise and we will agree any additional fees with you.
Reclaim of stamp duty at £495 plus VAT
stevensdrake © 2019 All Rights Reserved. Authorised and regulated by the Solicitors Regulation Authority Number 525527. *stevensdrake* and *stevensdrake solicitors* are trading names of stevensdrake limited (registered in England and Wales under number 7159192). A list of the directors is displayed at the above address. stevensdrake are authorised and regulated by the Financial Conduct Authority (FCA) for debt collection and insurance mediation. It is registered the FCA under registration number 702596.
