Residential Pricing Policy

Sales and Purchases

All of the fees detailed below are intended as a guide only and we would therefore suggest that you contact a member of our Residential Property Department who will be happy to provide you with a detailed quotation depending upon your own circumstances, together with dealing with any other queries you may have. This quotation can then be sent to you by email or post if required.

Our fees cover all of the work required to complete the sale or purchase of your new property, 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 you wish to buy is in Wales.

Rutherfords LLP Residential Conveyancing Fees as at January 2020

Sale Price

Legal Fee

VAT

Total

Up to £125,000

£525.00

£105.00

£630.00

£125,001 – £200,000

£550.00

£110.00

£660.00

£200,001 – £250,000

£600.00

£120.00

£720.00

£250,001 – £300,000

£625.00

£125.00

£750.00

£300,001 – £350,000

£650.00

£130.00

£780.00

£350,001 – £400,000

£700.00

£140.00

£840.00

£400,001 – £450,000

£750.00

£150.00

£900.00

£450,001 – £500,000

£800.00

£160.00

£960.00

£500,001 – £600,000

£850.00

£170.00

£1,020.00

£600,001 – £700,000

£900.00

£180.00

£1,080.00

£700,001 – £800,000

£950.00

£190.00

£1,140.00

£800,001 +

TBC

TBC

TBC

 

 

Purchase Price

Legal Fee

VAT

Total

Up to £125,000

£550.00

£110.00

£660.00

£125,001 – £200,000

£575.00

£115.00

£690.00

£200,001 – £250,000

£625.00

£125.00

£750.00

£250,001 – £300,000

£650.00

£130.00

£780.00

£300,001 – £350,000

£675.00

£135.00

£810.00

£350,001 – £400,000

£725.00

£145.00

£870.00

£400,001 – £450,000

£775.00

£155.00

£930.00

£450,001 – £500,000

£825.00

£165.00

£990.00

£500,001 – £600,000

£875.00

£175.00

£1,050.00

£600,001 – £700,000

£925.00

£185.00

£1,110.00

£700,001 – £800,000

£975.00

£195.00

£1,170.00

£800,001 +

TBC

TBC

TBC

 

Additional Fees

Legal Fee

VAT

Total

Leasehold/ Shared Ownership Fee

£175.00

£35.00

£210.00

Sale/Purchase at Auction

£175.00

£35.00

£210.00

Help to Buy Mortgage Fee

£175.00

£35.00

£210.00

Redemption of Help To Buy mortgage

£375.00

£75.00

£450.00

Completion of SDLT

£60.00

£12.00

£72.00

New Build Fee

£175.00

£35.00

£210.00

Remortgage Only

£525.00

£105.00

£630.00

Transfer of Equity Only (no remtg)

£425.00

£85.00

£510.00

Transfer of Equity and Remortgage

£575.00

£115.00

£690.00

First Registration

£450.00

£90.00

£540.00

Assent Only

£425.00

£85.00

£510.00

Assent and Transfer of Equity

£500.00

£100.00

£600.00

First Registration, Assent and Transfer of Equity

£650.00

£130.00

£780.00

Purchase of Freehold and Remortgage

£625.00

£125.00

£750.00

Purchase of Freehold

£575.00

£115.00

£690.00

Declaration of Trust

£250.00

£50.00

£300.00

Considering/Drawing up Epitome of Title

£125.00

£25.00

£150.00

Help To Buy ISA (each)

£50.00

£10.00

£60.00

ID1 Form

£250.00

£50.00

£300.00

Final Staircasing and Remortgage

£650.00

£130.00

£780.00

Lease Extension

£725.00

£145.00

£870.00

Equity Release

£650.00

£130.00

£780.00

 

Plus electronic money transfer fee – £40.00 plus VAT and Land Tax Return Fee – £50.00 plus VAT.

Disbursements for Freehold Properties – Standard Transactions

•           Standard search fees – £245.20 (if additional bespoke searches are required then additional charges will apply and quotes will be obtained from the search provider for you).

•           HM Land Registry fee – £95.00 and above (dependant on price of property being purchased and if the property is registered at the Land Registry)

•           Official search – £3.00 per search

•           Bankruptcy search (where applicable) – £2.00 per search

Disbursements for Leasehold Properties – Standard Transactions

In respect of leasehold properties, there are certain disbursements which will be set out in the individual lease relating to the property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

•           Standard search fees – £245.20 (if additional bespoke searches are required then additional charges will apply and quotes will be obtained from the search provider for you).

•           HM Land Registry fee – £95.00 and above (dependant on price of property being purchased and if the property is registered at the Land Registry)

•           Official search – £3.00 per search

•           Bankruptcy search (where applicable) – £2.00 per search

•           Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £25.00 and £180.00.

•           Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £25.00 and £180.00.

•           Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £180.00 and £250.00.

•           Certificate of Compliance fee – To be confirmed upon receipt of the lease and is approximately £100.00

These 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.

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

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

The above fees assume that:

a. 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;

b. this is the assignment of an existing lease and is not the grant of a new lease

c. the transaction is concluded in a timely manner and no unforeseen complication arise

d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Stamp Duty or Land Tax (Purchases Only)

This 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.

How long will my house sale or purchase take?

The average process takes between 8 and 12 weeks but this can depend on a number of factors. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take up to 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 12 months.

Stages of the Purchase Process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages are detailed below:

•           Take your instructions, give you initial advice, receiving initial payment on receipt of instruction paperwork and ID

•           Check finances are in place to fund purchase and contact lender’s solicitors 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 conditions of mortgage offer with you

•           Arrange an appointment for you to attend the office to sign the contract documentation. If you cannot attend the office then we will send final contracts to you for signature

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

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

•           Exchange contracts and notify you that this has happened

•           Complete purchase

•           Deal with payment of Stamp Duty/Land Tax

•           Deal with application for registration at Land Registry

Stages of Sale Process

•           Take your instructions and give you initial advice

•           Check any mortgage information has been given (mortgage account number) in order to request redemption figures from any lenders (where applicable) with initial instructions paperwork, ID and including initial payment of £200.00 on account

•           Send out draft contract pack to buyers solicitor

•           Check on whether there are any managing agents and order the management packs where applicable (Leasehold and some new build properties only)

•           Deal with enquiries once received from the buyers solicitor

•           Arrange for clients to attend the office to sign the contract documentation, or, if they cannot attend the office then send the contract documentation to them

•           Order final redemption figure once completion date has been agreed

•           Exchange contracts

•           Complete sale

•           Deal with the redeeming of any charges on the title

•           Forward confirmation of discharge from the lender (where applicable) and forward to buyers solicitor

Request a call back below

Contact us on: 01827 311 411 or [email protected]