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Littlehampton: 01903 726477
Worthing: 01903 877657
OUR LEGAL FEES AND DISBURSEMENTS
LEGAL FEES
SALE OR PURCHASE
| FREEHOLD PROPERTY | LEASEHOLD PROPERTY | |
|---|---|---|
| Up to £500,000.00 | £1,250.00 - £1,500.00 (plus VAT at 20%) | £1,295.00 - £1,995.00 (plus VAT at 20%) |
| Above £500,000.00 | Please contact us for a personalised quote. | |
RE-MORTGAGE/TRANSFER OF EQUITY/NEW BUILD
TRANSFER OF EQUITY (subject to reviewing title)
£1,095.00 plus VAT @ 20%
RE-MORTGAGE (subject to reviewing title and mortgage conditions)
£1,095.00 plus VAT @ 20%
NEW BUILD AND SHARED OWNERSHIP PROPERTIES (subject to reviewing title)
£1,595.00 to £1,995.00 plus VAT @ 20%
FACTORS THAT MAY AFFECT FEES
- If property has a leasehold title
- Defective property title
- If building regulation consent or planning permission has not been obtained as necessary
- If other crucial documents are missing
- If the matter involves a repossession or distressed sale
- Auction sales
- If unforeseen problems arise these would be discussed with you at the time as would any necessary revision of fees estimate
DISBURSEMENTS
Additional expenses and taxes which are not charged by us but are payable to third parties such as HMRC (Stamp Duty Land Tax).
DISBURSEMENTS ON SALE
Disbursements on a freehold property sale will usually be nominal as most disbursements are payable by the purchaser. Typically, disbursements will comprise fees paid to HM Land Registry for copy documents – usually between £3.00 and £20.00.
On the sale of a leasehold property it is usually necessary to provide the purchaser’s solicitors with a Landlord’s Management Pack which gives details of the buildings insurance cover and the workings of the lease service/maintenance charge provisions. Landlords typically charge approximately £350.00 for such packs.
DISBURSEMENTS ON PURCHASE
On a property purchase you will have to budget for:
- Stamp Duty Land Tax depending on price paid (see calculator at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro ) (for property located in Wales see – https://beta.gov.wales/land-transaction-tax-calculator )
- HM Land Registration fees – again, these are calculated on a sliding scale depending on the price paid for the property or the value of the property if there is no payment made
- Land search fees (Local Authority search, Environmental search, Drainage/Water search, Chancel Repair Liability Search) depending on the location of the property and the authority involved usually in the region of £300.00-£400.00 payable to the search providers. Land searches are obligatory if a mortgage is involved. Land searches are not obligatory (but advised) if there is no mortgage
- If re-mortgaging – lenders might accept an indemnity insurance police in lieu of land searches. Approximate premium payable to insurance company - £50.00 - £75.00 plus IPT
