Residential Property
We can advise on a vast range of legal matters across the residential property sector in a cost-effective and professional manner.
Across London and the South East, billions of pounds worth of property transactions occur every single year. This confirms that property investors are confident. Our expert property team will get your deal completed successfully
Whether you are based in the UK or overseas, we make buying a home or purchasing an investment property as straightforward as we can. Our insight into local markets results in effective residential real estate advice, which allows things to move quicker. We can also help you if you are a project investor or developer with sales, purchases and financing.
We have special expertise in large estates and agricultural properties if this ever an area you need assistance in.
- Sale and purchase (conveyancing)
- Equity release
- Joint ownership
- Mortgages and remortgages
- Pre-auction advice
- Right to buy and shared ownership
- Loan agreements
- Transfer of equity
- Living together and cohabitation
- Property tax advice
- New build
- Agricultural land
- Acting for Freeholders
- Acting for Leaseholders
- Freehold Disposals
Our residential property team is experienced in all types of real estate transactions including conveyancing, equity release, shared ownership, transfer of equity, pre-auction advice, mortgages & re-mortgages and more.
Our residential property team are under the supervision of Vikki Herbert, herself an experienced property solicitor and partner at the firm.
Please see the biographies of our team.
Our fees
In most cases, we offer a fixed fee for standard sale and purchase of UK residential property. Our dedicated new business team are on hand to offer you an immediate quote over the phone based on your circumstances – call us on 02082900440 today.
Our fees for acting on a sale, purchase and/or mortgage of a property vary. We state the range below likely to be charged in various types of straightforward transactions and some of the factors that may result in a fee at the higher or lower end of the range or in the stated range not being applicable.
Freehold & Leasehold Sale
| Legal Fees | Amount | VAT | Total |
|---|---|---|---|
| FREEHOLD | |||
| £0.00 to £400,000.00 | £1,150.00 | £230.00 | £1,380.00 |
| £400,000.01 to £600,000.00 | £1,250.00 | £250.00 | £1,500.00 |
| £600,000.01 to £800,000.00 | £1,350.00 | £270.00 | £1,620.00 |
| £800,000.01 to £1,000,000.00 | £1,450.00 | £290.00 | £1,740.00 |
| £1,000,000.01 to £1,250,000.00 | £1,650.00 | £330.00 | £1,980.00 |
| £1,250,000.01 to £1,500,000.00 | £1,700.00 | £340.00 | £2,040.00 |
| £1,500,000.01 to £1,750,000.00 | £1,800.00 | £360.00 | £2,160.00 |
| £1,750,000.01 to £2,000,000.00 | £1,900.00 | £380.00 | £2,280.00 |
| £2,000,000.01 + | 0.12% | ||
| LEASEHOLD | |||
| £0.00 to £400,000.00 | £1,300.00 | £260.00 | |
| £400,000.01 to £600,000.00 | £1,400.00 | £280.00 | |
| £600,000.01 to £800,000.00 | £1,500.00 | £300.00 | |
| £800,000.01 to £1,000,000.00 | £1,600.00 | £320.00 | |
| £1,000,000.01 to £1,250,000.00 | £1,700.00 | £340.00 | |
| £1,250,000.01 to £1,500,000.00 | £2,000.00 | £400.00 | |
| £1,500,000.01 to £1,750,000.00 | £2,500.00 | £500.00 | |
| £1,750,000.01 to £2,000,000.00 | £3,000.00 | £600.00 | |
| £2,000,000.01 + | 0.18% | ||
Freehold & Leasehold Purchase
| Legal Fees | Amount | VAT | Total |
|---|---|---|---|
| FREEHOLD | |||
| £0.00 to £200,000.00 | £1,100.00 | £220.00 | |
| £200,000.01 to £400,000.00 | £1,200.00 | £240.00 | |
| £400,000.01 to £600,000.00 | £1,300.00 | £260.00 | |
| £600,000.01 to £800,000.00 | £1,400.00 | £280.00 | |
| £800,000.01 to £1,000,000.00 | £1,500.00 | £300.00 | |
| £1,000,000.01 to £1,250,000.00 | £1,750.00 | £350.00 | |
| £1,250,000.01 to £1,500,000.00 | £1,850.00 | £370.00 | |
| £1,500,000.01 to £1,750,000.00 | £1,950.00 | £390.00 | |
| £1,750,000.01 to £2,000,000.00 | £2,150.00 | £430.00 | |
| £2,000,000.01 + | 0.15% | ||
| LEASEHOLD | |||
| £0.00 to £200,000.00 | £1,250.00 | £250.00 | |
| £200,000.01 to £400,000.00 | £1,350.00 | £270.00 | |
| £400,000.01 to £600,000.00 | £1,450.00 | £290.00 | |
| £600,000.01 to £800,000.00 | £1,550.00 | £310.00 | |
| £800,000.01 to £1,000,000.00 | £1,650.00 | £330.00 | |
| £1,000,000.01 to £1,250,000.00 | £2,000.00 | £400.00 | |
| £1,250,000.01 to £1,500,000.00 | £2,200.00 | £440.00 | |
| £1,500,000.01 to £1,750,000.00 | £2,300.00 | £460.00 | |
| £1,750,000.01 to £2,000,000.00 | £2,400.00 | £480.00 | |
| £2,000,000.01 + | 0.20% |
These ranges relate to the conveyancing process for a single residential property. In the case of mortgages, they assume the borrower is the same person/entity as the property owner. They are also based on no complex structuring being involved. Some of our transactions are more complex than this and so will incur higher costs.
The factors that make a case more complex or vary the costs include:
- there being defects in legal title, planning breaches or other legal problems that need to be resolved;
- the property being newly or recently built or refurbished with negotiations over contractual recourse for defects to the original contractor, developer or seller;
- the property being unregistered and/or leasehold, whether the matter involves a sale or a purchase;
- on sales, the extent and nature of the questions asked by the purchaser’s lawyers;
- the length of time required to complete the transaction;
- the level of client involvement required, and the seniority of our personnel required to be involved by the client;
- whether we visit the property;
- whether the property is purchased subject to a tenancy agreement or with vacant possession;
- whether consents from any third party (typically but not always a landlord) are required and whether that third party attaches conditions to that consent;
- specific non-standard terms agreed by the parties that need to be catered for in the documents; and
- on a mortgage, our being able to act for both the borrower and the lender.
- If the transaction involves Shared Ownership.
- If the financing involves a second or subsequent charge
- Use of the Help To Buy scheme
Disbursements
Disbursements are costs we incur on your behalf, such as Land Registry fees and Search fees. These are variable costs we pay on your behalf to third parties. We can estimate these at the outset and they will appear on our invoice to you. Usually on a purchase these will include:
- search fees vary from £200 - £500 plus VAT depending on the local authority
- Land Registry registration fees which could range between £20 and £910 .
- The fee ranges set out above cover all work in relation to the following key stages of a straightforward purchase, sale and mortgage:
- taking your instructions and providing an overview of the transaction and process;
- drafting or reviewing the contract/mortgage deed/transfer deed and (where appropriate) negotiating its terms;
- undertaking due diligence (to include but not limited to a title review, commissioning and reviewing appropriate property searches, raising appropriate enquiries and reviewing replies) or responding to the purchaser’s or lender’s enquires about the property;
- taking appropriate legal steps to correct or mitigate defects in title;
- advising you on the terms of the transactional documents, reporting to you on our due diligence exercise and advising as to stamp duty land tax payable;
- obtaining third party consents where necessary;
- exchanging contracts;
- undertaking pre-completion searches and completing of the transaction; and
- submission of stamp duty land tax returns and registration of the transaction at the Land Registry.
Disbursements on Purchase
| Additional Fees | Amount | VAT | Total |
|---|---|---|---|
| Photocopying/Postage/Telephone | £35.00 | £7.00 | £42.00 |
| Telegraphic Transfer Fee | £40.00 | £8.00 | £48.00 |
| Document/File Storage | £30.00 | £6.00 | £36.00 |
| Acting on your mortgage | £150.00 | £30.00 | £180.00 |
| Help to Buy Mortgage | £250.00 | £50.00 | £300.00 |
| Completion of SDLT Return | £50.00 | £10.00 | £60.00 |
| Help to Buy ISA | £50.00 | £10.00 | £60.00 |
| Lifetime ISA | £50.00 | £10.00 | £60.00 |
| Smart Search Fee | £5.00 | £1.00 | £6.00 |
| Electronic Onboarding (eCOS) | £12.50 | £2.50 | £15.00 |
| Expenses Paid on Your Behalf (Disbursements) | |||
| Search Pack (estimated) | £150.00 | £30.00 | £180.00 |
| H M Land Registry Search Fee | £3.90 | £0.00 | £3.90 |
| Bankruptcy Search | £2.90 | £0.00 | £2.90 |
| Government Fees | |||
| Land Registry Fee | £455.00 | £0.00 | £455.00 |
| Stamp Duty Land Tax | £2000.00 | £0.00 | £2000.00 |
Disbursements on Sale
| Additional Fees | Amount | VAT | Total |
|---|---|---|---|
| Photocopying/Postage/Telephone | £35.00 | £7.00 | £42.00 |
| Telegraphic Transfer Fee | £40.00 | £8.00 | £48.00 |
| Documents/File Storage | £30.00 | £6.00 | £36.00 |
| Smart Search Fee | £5.00 | £1.00 | £6.00 |
| Electronic Onboarding (eCOS) | £12.50 | £2.50 | £15.00 |
| Additional Charge Redemption | £150.00 | £30.00 | £180.00 |
| Help to Buy/Equity Release Redemption | £250.00 | £50.00 | £300.00 |
| Expenses Paid on Your Behalf (Disbursements) | |||
| HM Land Registry Title & Plan (Further copy titles at additional cost will be required if the property is Leasehold | £15.60 | £0.00 | £15.60 |
Transaction timescales
On a standard straightforward transaction with no complications, the rough timescale from receipt of draft contract to completion is 8-12 weeks. This timescale may vary depending on the current market and the arise of any possible complications.
Hourly rates of our solicitors
If complicating factors arise then we will charge for the extra time involved. Our standard hourly rates (excluding VAT) are as follows:
VAT
For legal advice provided in relation to UK sited real estate, VAT is always chargeable at the prevailing rate (currently 20%) on that advice.
Re-mortgaging a residential property
Our fees cover all the work required to complete the re-mortgage of your property as step out below in the key stages of a re-mortgage transaction.
Our approach to fees
Our fees will be determined by the complexity of the transaction and will also take into account any work required to deal with any unusual aspects of the re-mortgage.
We offer a standard fixed fee for our residential property transactions on the basis that there are no complicating factors such as; lack of certification for any alterations or building works carried out, title defects that need to be reported to lenders, remedied or indemnity insurance put in place or nonstandard mortgage conditions to be complied with.
Our standard fixed fees start at £1,050 plus VAT and disbursements and increase if there is lease involvement.
Additional charges to cover complicated factors will be based upon the time needed to deal with them. The hourly rates charged will be dependent on the experience of the Solicitor dealing with the transaction.
Very occasionally, we may need to liaise with other solicitors in other departments within the firm, at which point their hourly rates will be charged. We will provide you with an estimate of the total additional charges either at the outset of the transaction or when we become aware of any complicating factors.
If your re-mortgage falls through before it is completed, our charges will be based on the time spent in dealing with a case. Time spent on your affairs will include meetings with you and perhaps others; any time spent travelling; considering, preparing and working on papers; correspondence including reading and writing letters and emails; and making and receiving telephone calls. (copied from our T&C’s
Hourly rates of our solicitors
If complicating factors arise then we will charge for the extra time involved based on our standard hourly rate.
Typical Disbursements
Disbursements are costs relating to your matter that are payable to third parties, such as the Land Registry.
On a re-mortgage we would expect disbursements to include:
- Fee for transferring any money as a same day payment, for example to redeem an existing charge or account due for the balance: £40 plus VAT
- Identification check to satisfy money laundering requirements: £17.50 plus VAT per person
- Searches (if required) including but not limited to, a search of the local land charge register and standard enquiries of the local authority, drainage search, environmental search, planning history and also any other recommended searches such as mining or flood risk. Prices depend on the area and search provider so we can only estimate that these will be between £200-500 plus VAT.
- Search indemnity insurance (taken in lieu of the above searches if your lender accepts the same): price depends on value but are usually in the region of £50 - £100
- If the property is leasehold, a sales information pack from the landlord/managing agent: these fees vary on the provider and can range from around £100 to in excess of £500 (this fee is not included in our quotations)
- Pre completion searches at the Land Registry: £3.00 plus VAT per title
- Pre completion bankruptcy search: £2.00 plus VAT per name searched
- Land Registry fees. The fee will dependent on the value and nature of the transaction and we recommend that you use the official Land Registry fee calculator to ascertain the likely charge
- Fees payable to a third party such as a rent charge collector or landlord/managing, when providing notice of the new charge to them: these will be set by the third party
| Additional Fees | Amount | VAT | Total |
|---|---|---|---|
| Photocopying/Postage/Telephone | £35.00 | £7.00 | £42.00 |
| Telegraphic Transfer Fee | £40.00 | £8.00 | £48.00 |
| Documents/File Storage | £30.00 | .00 | £36.00 |
| Redemption of Charge | 150.00 | £30.00 | £180.00 |
| Smart Search Fee | £5.00 | £1.00 | £6.00 |
| Electronic Onboarding (eCOS) | £12.50 | £2.50 | £15.00 |
| Additional Charge Redemption | £150.00 | £30.00 | £180.00 |
| Help to Buy/Equity Release Redemption | £250.00 | £50.00 | £300.00 |
| Expenses Paid on Your Behalf (Disbursements) | |||
| Search Pack (estimated) | £150.00 | £30.00 | £180.00 |
| H M Land Registry Search Fee | £3.90 | £0.00 | £3.90 |
| Bankruptcy Search | £2.90 | £0.00 | £2.90 |
| Government Fees | |||
| Land Registry Fee | £455.00 | £0.00 | £455.00 |
What's involved?
The stages involved in the re-mortgage of a residential property vary according to each particular transaction, however, we have listed below the key stages that will be covered by our legal fee:
- Taking your instructions and providing you with initial advice;
- Obtaining contract, title and supporting information documents from the Land Registry and any documents you may hold
- Obtaining an information pack from any landlord or managing agent if the property is leasehold
- Reviewing the title and supporting documents and raise any necessary enquiries with you or a third party such as a landlord or managing agent if your property is leasehold
- Obtaining the usual searches for a property in the area in which your property is located and reviewing the contents or if your lender accepts insurance, obtain quotes in lieu of searches for a policy on completion
- Receiving mortgage instructions, reviewing the same and ensuring compliance with any conditions
- Meeting with you to obtain your signature on the Mortgage Deed and any other relevant documents
- Taking your instructions on suitable completion dates
- Obtaining settlement figures for any existing charges which are being repaid on completion
- Preparing a statement of account and obtaining any balance required from you
- Completing the new mortgage and redeeming any existing charges, as agreed with you and the new lender
- Registering the new mortgage with the Land Registry
- Serving a notice of charge on any relevant third parties
- Implementing any search indemnity insurance as necessary
- Providing you with confirmation of the registration of the new charge
- Providing your mortgage lender with a copy of the updated title documents
VAT
For legal advice provided in relation to UK sited real estate, VAT is always chargeable at the prevailing rate (currently 20%) on that advice.
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