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Residential Conveyancing Pricing

As you may already know, at SME Solicitors, we do things differently. We provide an exceptional level of service supported by cutting edge technology. We understand that buying/selling a house can be a traumatic time and we will help to minimise the stress whenever we can.

We don't allow unqualified staff to handle conveyancing files so when you instruct us, you will have one lawyer responsible for your matter from start to finish.

With SME Solicitors looking after your conveyancing, you will benefit from the following:

  • a single point of contact who will be solely responsible for your transaction and available to help every step of the way;
  • you will receive email updates about the progress of your matter, and
  • you will be able to use our conveyancing app to keep track of the key stages of the transaction.

To get started, please use this form to create a personalised estimate.

Our fees are calculated based on a number of factors, including (but not limited to) whether the property is freehold or leasehold, if it a new build property, if you are purchasing by way of a company or if the property is registered at the Land Registry.

 

Freehold Residential Transactions

Our fees start from £824.00 plus VAT at 20% (£164.80) and range up to £3,000.00 plus VAT at 20% (£600.00) for properties up to the value of £1,000,000.00. Quotations for property transactions over this price are available upon request.  

Our fee for a purchase of a registered freehold property valued at £250,000.00 would be £879.00 plus VAT at 20% (£175.80). There would also be applicable disbursement fees (see below). We also charge for a bank transfer at a cost of £25.00 plus VAT at 20% (£5.00) and for preparing the Stamp Duty Land Tax/Welsh Land Tax form at £30.00 plus VAT at 20% (£6.00).

 

If the property is a new build, different scales of charges will apply.  

Our fee for a purchase of a new build freehold property valued at £250,000.00 would be £2,200.00 plus VAT at 20% (£420.00). There would also be applicable disbursement fees (see below). We also charge for a bank transfer at a cost of £25.00 plus VAT at 20% (£5.00) and for preparing the Stamp Duty Land Tax/ Welsh Land Tax form at £30.00 plus VAT at 20% (£6.00).

 

Leasehold Residential Transactions

Our fees start from £1,100.00 plus VAT at 20% (£220.00) and range up to £4,500.00 plus VAT at 20% (£900.00) for properties up to the value of £1,000,000.00. Quotations for property transactions over this price are available upon request. 

Our fee for a purchase of a registered leasehold property valued at £250,000.00 would be £1,400.00 plus VAT at 20% (£280.00). There would also be applicable disbursement fees (see below). We also charge for a bank transfer at a cost of £25.00 plus VAT at 20% (£5.00) and for preparing the Stamp Duty Land Tax/ Welsh Land Tax form at £30.00 plus VAT at 20% (£6.00).

 

If the property is a new build, different scales of charges will apply. 

Our fee for a purchase of a new build leasehold property valued at £250,000.00 would be £2,700.00 plus VAT at 20% (£540.00). There would also be applicable disbursement fees (see below). We also charge for a bank transfer at a cost of £25.00 plus VAT at 20% (£5.00) and for preparing the Stamp Duty Land Tax/ Welsh Land Tax form at £30.00 plus VAT at 20% (£6.00).

 

Disbursements

Disbursements are costs which we pay on your behalf to third parties. These include search fees, Land Registry fees and bank charges.  

Typical disbursements on a freehold registered purchase at £250,000.00 would be:-

  • Searches £250.00 (approx.)
  • Land Registry fee £150.00
  • Bank TT fee £11.00 plus VAT at 20% (£2.20)
  • SDLT electronic signature fee £2.88 plus VAT at 20% (£0.58)
  • Enhanced ID check £6.00 plus VAT at 20% (£1.20)
  • AP1 electronic submission fee £6.00
  • Land Registry searches £10.00 (approximately)

 

Typical disbursements on a leasehold registered purchase at £250,000.00 would be:-

  • Searches £250.00 (approx.)
  • Land Registry fee £150.00
  • Bank TT fee £11.00 plus VAT at 20% (£2.20)
  • SDLT electronic signature fee £2.88 plus VAT at 20% (£0.58)
  • Enhanced ID check £6.00 plus VAT at 20% (£1.20)
  • AP1 electronic submission fee £6.00
  • Land Registry searches £10.00 (approximately)
  • Notice of Transfer fees Dependent on landlord/management company
  • Deed of Covenant fees Dependent on landlord/management company
  • Certificate of compliance fees Dependent on landlord/management company

 

Typical disbursements on a freehold new build purchase at £250,000.00 would be:-

  • Searches £250.00 (approx.)
  • Land Registry fee £330.00
  • Bank TT fee £11.00 plus VAT at 20% (£2.20)
  • SDLT electronic signature fee £2.88 plus VAT at 20% (£0.58)
  • Enhanced ID check £6.00 plus VAT at 20% (£1.20)
  • AP1 electronic submission fee £6.00
  • Land Registry searches £10.00 (approximately)
  • Landlord/management fees Dependent on landlord/management company

 

Typical disbursements on a leasehold new build purchase at £250,000.00 would be:-

  • Searches £250.00 (approx.)
  • Land Registry fee £330.00
  • Bank TT fee £11.00 plus VAT at 20% (£2.20)
  • SDLT electronic signature fee £2.88 plus VAT at 20% (£0.58)
  • Enhanced ID check £6.00 plus VAT at 20% (£1.20)
  • AP1 electronic submission fee £6.00
  • Land Registry searches £10.00 (approximately)
  • Notice of Transfer fees Dependent on landlord/management company
  • Deed of Covenant fees Dependent on landlord/management company
  • Certificate of compliance fees Dependent on landlord/management company

 

There may also be additional disbursements where we are required to send you forms electronically for completion and return with a typical disbursement cost of £6.50 plus VAT at 20% (£1.30) and where we need to verify source of funds electronically at a typical cost of £2.00 plus VAT at 20% (£0.40).

The Land Registration fee will be dependent on the value of the property and whether or not the property/land is registered. You can find out more about the fee payable for registering property or land using the Land Registry fee calculator  https://fee-calculator.landregistry.gov.uk/ 

 

Remortgage transactions

Our fees start from £550.00 plus VAT at 20% (£110.00) for freehold properties and £1100.00 plus VAT at 20% (£220.00) for leasehold properties. Disbursements will be similar to those for a conveyancing purchase matter.

 

Stamp Duty Land Tax

Stamp Duty Land Tax (SDLT) is calculated based on the purchase price of the property you are purchasing and your individual circumstances. SDLT can be calculated using the following online calculator https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#!/intro for properties in England and Welsh Lan Tax can be calculated using https://www.gov.wales/land-transaction-tax-calculator for properties in Wales.

We are not tax experts and we do not provide tax advice. As your agent, we can prepare and submit the SDLT form to HMRC as part of your transaction. We will also pay the appropriate SDLT value to HMRC on completion on your behalf.

 

Additional Information

If it transpires that the property is leasehold and we were not informed at the time of instruction, there will be a charge for dealing with the lease of £500.00 + VAT. Similarly, if there are common areas/shared services associated with the property which require additional correspondence in relation to the managed areas registered under a separate title, there will be additional fees of £250.00 plus VAT.

If we are required to undertake money laundering matters on behalf of a third party (i.e. estate agent), a minimum fee of £50.00 + VAT will be payable.

Searches required may vary from region to region.  Search packs do not include certain regional searches, e.g. coal mining searches and these will attract an additional fee.

We will ask you for £350.00 on account for a purchase along with your completed questionnaires and evidence of identity and address before we order the searches and £50.00 on account for a sale along with your completed questionnaires and evidence of identity and address.

Whilst most properties are registered, some are not.  If a property is unregistered and this is discovered during the transaction rather than at the outset, additional work is involved which will incur a further charge of £200.00 + VAT.

Additionally, if the property is a Listed Building (or in a protected landscape with planning constraints) additional fees may be incurred if there are planning issues affecting the property.

If the property is being purchased by way of auction and we are required to attend the auction on your behalf, our attendance will be recorded on a time spent basis at our hourly rate plus VAT.

If you require a Declaration of Trust there will be an additional fee of £250.00 + VAT.

During the course of the transaction, unavoidable, additional disbursements may be incurred.  We will advise you of any such costs and they will be payable by you.

Our estimates are valid for 30 days subject to receiving your instruction. Within this period our fees will not increase.  Please note that fees applicable to the Land Registry will adjust according to the most recent scale at the time your case completes should changes have been made from the date of your instruction.  Our estimates are also subject to any government changes, in particular changes to Stamp Duty Land Tax and Land Registry fees.

 

Key Stages

As a testament of our quality, the firm has achieved membership of the Law Society’s Conveyancing Quality Scheme (CQS). Our transactions are run in accordance with the Law Society Conveyancing Protocol and key stages will include:-

Purchase

  • Initial instruction and file set up 
  • Due diligence for verification of ID and source of funding
  • Reviewing contract packs and:-
    • Raising enquiries
    • Putting in hand searches
  • Reviewing your mortgage offer if a lender is involved
  • Reporting to you on the property with:-
    • Contract and Transfer Deed for signature
    • Completion statement showing the movement of monies and the balance due from you
    • Advise on joint ownership
  • Exchanging contracts and setting the completion date
  • Completion of your purchase
  • Submitting SDLT form to HMRC and paying SDLT on your behalf
  • Dealing with registration of your purchase at HM Land Registry

Sale

  • Initial instruction and file set up 
  • Due diligence for verification of ID 
  • Drafting contract pack and sending to buyers solicitor
  • Answering enquiries
  • Reviewing your mortgage offer if a lender is involved
  • Reporting to you with:-
    • Contract and Transfer Deed for signature
    • Completion statement showing the movement of monies and the balance due to you
  • Exchanging contracts and setting the completion date
  • Completion of your sale

Remortgage

  • Initial instruction and file set up 
  • Due diligence for verification of ID 
  • Obtaining title documentation and putting in hand searches
  • Reviewing your mortgage offer and complying with lender requirements
  • Reporting to you on the property with:-
    • Mortgage deed for signature
    • Completion statement showing the movement of monies and the balance due from/to you
  • Setting the completion date and requesting mortgage funds
  • Completion of your remortgage
  • Dealing with registration of your remortgage at HM Land Registry

Timescales

For any of our residential property transactions, a number of factors can affect the timescales such as search turnaround times, mortgage offers being issued and defects in the title which require rectification before completion.

General sales and purchases on average take between 10-12 weeks to complete and a remortgage takes on average 4-6 weeks to complete.

You will be kept fully up to date on the timescales of your matter throughout the transaction.

For a personalised estimate, please use this form.

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