Below are details of the legal costs that would be charged on a residential conveyancing transaction, together with the services provided as part of these cots. These costs are exclusive of VAT and disbursements that may be incurred as part of a transaction. The exact amount charged will depend on the exact circumstances of the transaction, as well as the Partner/Fee Earner dealing with your matter. The principal Nick Demos will be working on your transaction at P George and Co solicitors.
VAT, currently 20%, will be payable on all our fees and some disbursements, and we will clearly confirm which disbursements carry VAT in formal quotation or as we advise you to incur them. Commercial property transactions are quoted on application.
SALES AND PURCHASE transactions
The fees range from £975 - £3,500 + VAT (at 20 %)
The fees range from £750.00 - £1,500.00 + VAT (at 20%) inc. VAT).
The above-mentioned figures are based on the following assumptions:
The above examples re not an exhaustive list. If your matter becomes unexpectedly complicated, then our costs may be reviewed, and you will be advised accordingly in writing.
You will be provided with a full estimate of costs and disbursements that are likely to be incurred on your transaction once we are in possession of all information from you.
Below is a list of additional costs likely to be incurred in each type of transaction:
| Land Registry official copies of documents | £7.00 per document |
| Bank transfer fee | £15 |
| AML searches (per person) | £6.50 |
| Management pack (leasehold only) | £250 - £500 (estimated) plus VAT at 20% |
| Storage fee | £75.00 plus VAT at 20% |
| Stamp duty | |
| This depends on the purchase price of your property. You can calculate the amount you need to pay by using HMRC’s website. SDLT (Stamp Duty) applies to most property purchase transactions. We will advise you of the Stamp duty applicable to your matter and you can visit the HMRC website for more information on the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website. | |
| Land Registration Fee | Calculated on the purchase price and ranges from £20.00 - £1,105.00. The fees chargeable by the Land Registry can be found here https://www.gov.uk/guidance/hm-land-registry-registration-services-fees |
| Land Registry Searches | £7.00 per priority search and £3.00 per bankruptcy |
| Bank transfer fee | |
| SDLT Return Fee | £250.00 plus VAT at 20% |
| Search pack | £375.00 |
| Freeholder Registration Fee | £50-£200 |
| Storage fee | £85.00 plus VAT at 20% |
| AML Searches | £6.50 plus VAT at 20% |
| Land Registration Fee | Calculated on loan amount and ranges from £20.00 - £305.00 |
| Land Registry Searches | £7.00 |
| Bank transfer fee | £25.00 |
| Local search/Search insurance | £20 _£275.00 (estimated) |
| Freeholder Registration Fee (leasehold only) | £50 -£150.00 (estimated) |
| Storage fee | £85.00 plus VAT at 20% |
| AML searches (per person) | £6.50 plus VAT at 20% |
| General Disbursements | £85.00 plus VT at 20% |
If the property you are selling is Leasehold, the following additional costs may arise:
These fees shown above will vary from property to property and can on occasion be more than the ranges given above. We will provide an accurate figure once we have the information from the freeholder/management company.
There may be further disbursements for a Leasehold purchase or the purchase of a freehold property where there is a Management Company. These, if chargeable, are set out in the Lease or Transfer and are usually paid to the Landlord or Management Company. We will not know the exact charges or their cost until we receive the Lease and further Leasehold information from the Landlord or Management Company. However, typical additional Leasehold disbursements are as follows:
These fees are set by the Management Company/Freeholder and can vary from property to property. They can, on occasion, be significantly more than the ranges given above, and VAT at 20% may be charged. We can provide an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and anticipated service charges once we receive this information.
These fees shown above will vary from property to property and can on occasion be more than the ranges given above. We will provide an accurate figure once we have the information.
The fees estimated reflect the seniority of the principal of the firm who will be carrying out the work, namely Nick Demos. In addition to the status and qualification of the Fee Earner, the following are taken into account when calculating the legal fees: the value and complexity of the transaction; whether the property is unregistered, leasehold, requires a declaration of trust, a deed of variation or deed of rectification to be entered into, whether this firm is required to act on behalf of the lender and whether the transaction needs to be expedited. Therefore, under the circumstances it is difficult to give a realistic estimate of fees without having had the opportunity to review the papers. Please therefore contact the office or the fee earner directly for an accurate estimate of the firm’s fees for your particular transaction.
If at any stage our fees change, we will notify you and discuss the reason for any changes. This will typically occur if you change your instructions, or your case involves an unforeseen complexity.
Our average fees assume that:
The average mortgage or re-mortgage will take between 4-12 weeks.
It can be quicker or slower, depending on a number of factors and we will notify you if we believe your transaction may take longer than average or if something occurs in your case to extend the transaction time. Matter that can typically delay a transaction include delays in searches, issues with a mortgage offer or issues raised in a survey.
We do not undertake mortgage or tax advice. We would recommend you seek advice from an independent mortgage broker or financial adviser.
We do not carry out valuations on your home.
Other Factors to consider which may affect your legal fees:-
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.
Our average fees assume that:
How long it will take from you agreeing the sale price until you can complete will depend on a number of factors. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain and what the paperwork reveals.
Our fees are fixed, however there may be factors which would typically increase the costs 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. Other Factors to consider which may affect your legal fees:-
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.
The stages of a Leasehold purchase transaction are the same as that of a freehold purchase. The difference is mainly that there are more documents to check and read through when dealing with a Leasehold transaction. Further, when dealing with the application for registration, following completion, there are usually other notices such as the notice of transfer etc. to also deal with.
Our average fees assume that:
How long it will take from your offer being accepted until you can move into your new house will depend on a number of factors. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain and what the paperwork and any survey reveals. For example, if you are a first-time buyer, purchasing a freehold property with a mortgage in principle, it could take 8-12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such a situation, additional charges would apply.
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. Other Factors too consider which may affect your legal fees: -
We can give you an accurate figure once we have sight of your specific documents.