HORNCHURCH: 01708 446704RAINHAM: 01708 552804

CONVEYANCING COSTS

Address

Hornchurch office
135 High Street, Hornchurch,
Essex RM11 3YJ.

Tel: 01708 446704,
Fax: 01708 476018

Rainham office
12 Broadway,
Rainham,
Essex RM13 9YL.
DX 91400 RAINHAM ESSEX

Tel: 01708 552804,
Fax: 01708 520104

CONVEYANCING COSTS

Sackvilles are accredited to the Law Society’s Conveyancing Quality Standard (CQS) which is considered the leading quality standard in Conveyancing. Our conveyancing team are qualified solicitors with one conveyancing technician all supervised by a Partner and they are here to assist you every step of the way during your transaction whether you are buying, selling or re-mortgaging a property.

Whilst we do not offer a fixed fee service for conveyancing transactions, it is unlikely our fees will exceed that of our original quote unless a substantial amount of unforeseen work is needed and this is not known at the outset of the transaction. If this situation arises, this will be discussed with you at that time.

Please note: Sackvilles do not pay or accept referral fees to/from any third party ensuring there are no ‘blurred lines’ as to who our client is.

The following costs estimates are based on a sale or purchase of a residential freehold property in England or Wales:-

Sale / Purchase Price

Up to £500,000

£500,001 – £1,000,000

£1,000,001- £1,500,000

£1,500,001 and above 

Legal Fees

Between £780 and £1,000 plus VAT

Between £1,050 and £1,400 plus VAT

Between £1,450 and £1,600 plus VAT

Subject to negotiation

If you are getting a mortgage on your purchase there is an additional charge for acting for the Lender of £100 plus VAT and where Stamp Duty is payable there is an additional charge of £50 plus VAT for dealing with HMRC requirements.

Additional legal costs will be incurred if the property is leasehold or a new build.

Below is an example of known disbursements. Disbursements are additional to legal fees that have to be paid to other companies and our client will only pay what the relevant company charge. Some disbursements will vary depending on property price and location.

Known disbursements on the sale of a property

HM Land Registry Search fees:-

    Freehold £6 plus VAT

    Leasehold £12 plus VAT

Fee for arranging a Bank Transfer To redeem a mortgage or to send net sale proceeds to you (if applicable) £35 plus VAT

Known disbursements on the purchase of a property

Additional legal Costs for acting for your mortgage company (if applicable) – £100 plus VAT

Arranging Bank transfer to send purchase monies to sellers Solicitors £35 plus VAT

Bankruptcy search – £2 plus VAT (per purchaser)

Land Charges search – £3 plus VAT

Local Search Fees – £TBC depend on local council charges

Stamp Duty Land Tax – amount will depend on property value and whether you or your spouse own any other property. You can visit the HMRC website to find out the amount https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro to obtain the

HM Land Registry registration fee – this will vary depending on the price of your property. You can visit the Land Registry website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees for an indication as to the likely fee.

Other disbursements may become payable, such as mining searches or flood risk searches but these will not become apparent until the transaction starts. We will notify you of these once we are aware of them being required.

The above costs estimates are based on the following:-

  • That it is a standard transaction and no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • The transaction is concluded in a timely manner and no unforeseen complications arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • That no indemnity policies are required. Additional disbursements will apply if indemnity policies are required
  • That there are no abortive transactions.

How long will my house purchase/sale take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8 – 14 weeks.

It can be quicker or slower, depending on the parties in the chain and many aspects will be out of our control.

Key Stages of a standard purchase

We will take your instructions and give you initial advice

Check finances are in place to fund purchase and contact lender’s if needed

Receive and advise on contract documents

Carry out searches

Obtain further planning documentation if required

Make any necessary enquiries of seller’s solicitor

Give you advice on all documents and information received

Go through the conditions of mortgage offer with you

Send final contract to you for signature

Agree completion date (date from which you own the property)

Exchange contracts and notify you that this has happened

Arrange for all monies needed to be received from lender and you

Complete purchase

Deal with payment of Stamp Duty/Land Tax

Deal with application for registration at Land Registry

Key Stages of a standard Sale

We will take instructions and give you initial advice

Produce Contract Documents and send to purchasers solicitors

Reply to enquiries from purchasers solicitors

Give you advice on all documents and information received

Send final contact to you for signature

Agree a completion date

Exchange contracts and notify you of this

Complete the sale

Arrange for all monies to be paid to lender, Estate Agent etc if applicable

Deal with any requisitions raised during registration of the property

Sale or Purchase of a Leasehold Residential Property

If Sackvilles are instructed to act in connection with your sale or purchase of a leasehold residential property, there will be additional disbursements to those listed above which include Notice fees and fees for a Sale Pack from your freeholder and / or management  company. These fees will become apparent during the course of the transaction and we will make you aware of them as soon as we are able.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the leasehold property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

The key stages involved in the sale and purchase of a residential leasehold property vary according to the circumstances. However, they are mostly the same as with a freehold property with the exception of checking and reporting on the Lease and any sellers pack from the freeholder.

* Again our fees and the time scale assumes that:

  • This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • This is the assignment of an existing lease and is not the grant of a new lease
  • The transaction is concluded in a timely manner and no unforeseen complication arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required
  • There are no abortive transactions.

If you are buying a Leasehold property that requires an extension of the lease, this can take considerably longer, between three and six months and in this situation additional charges will apply.

If you are looking to sell or buy a property please feel free to contact us and we will be happy to discuss your needs and provide you with a detailed quote.