Residential Conveyancing Pricing Information
Purchase
Most of the transactions we deal with our high value and quite complex therefore we do not have a set fee.
Our minimum fee for a comparatively simple purchase with no mortgage, would be £2,500, excluding VAT and disbursement. The following factors may influence the fee charged, or anything else which might add to the complexity or amount of work required:
Freehold or leasehold property
Newbuild/ off Plan or second hand.
Value
Urgency of matter
Non standard clauses required in Contract
Declaration of Trust (charged separately)
Mortgage
Lease Extension
Unregistered title
Defects in title
Our average fee for a Leasehold purchase of circa £2,000,000 would be between £5,000 and £6,000 excluding VAT and disbursements
Disbursements
Land Registry Fees between £20 and £910 according to Purchase Price and whether New Lease.
Searches circa £200
Bank transfer fees circa £75
Notice of Assignment/Transfer varies but usually circa £100 to £150
Possible fees for Share transfer (if will be a Shareholder in a Management company/Freeholder and/ or for a Certificate of Compliance to allow the assignment to be registered at the Land registry.
Stamp Duty
his varies according to the Price to be paid and your circumstances eg. Is this an Additional Property there is a 3% additional levy; If Non resident in the UK, a further 2% additional levy; or if a First time Buyer which might reduce the amount payable. You can calculate the amount of Stamp duty you will be required to pay by using the following link https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Timescale
This can vary according to the degree of urgency required. A Conveyance can take as little as a few days, if in a Contract race, up to a number of months in other cases.
Outline of transaction
The main stages are set out below, but the actual stages involved may vary from transaction to transaction:-
Carry out appropriate AML checks
Obtain your instructions and commence work
Undertake appropriate Searches
Consider contract documents and Management Pack once received from Seller’s Solicitor
Make additional enquiries
Report to you with a summary of the benefits and burdens which go with the Property.
Once you are happy to proceed, send you final version of the Contract for signature and return together with Deposit (usually 10%)
Exchange Contracts, prepare for Completion
Complete the transaction
Deal with registering your Title at the Land Registry; serving appropriate Notices on freeholder/ Managing Agent.
Where appropriate acting for Lender or liaising with separately instructed Solicitor acting for Lender to ensure that Mortgage Advance is available in time for Completion.
Sale
Most of the transactions we deal with our high value and quite complex therefore we do not have a set fee.
Our minimum fee for a comparatively simple sale with no mortgage, would be £2,500, excluding VAT and disbursement. The following factors may influence the fee charged, or anything else which might add to the complexity or amount of work required:
Freehold or leasehold property
Newbuild/ off Plan or re-Assignment of Contract or second hand.
Value
Urgency of matter
Non standard clauses required in Contract
Mortgage
Lease Extension
Unregistered title
Defects in title
Our average fee for a Leasehold sale of circa £2,000,000 would be between £5,000 and £6,000 excluding VAT and disbursements
Disbursements
Land Registry OCES circa £21
Bank CHAPS fees circa 375
Management Pack usually between £350 and £450
Possible Deed of Covenant/Licence to Assign usually between £600 and £900
Timescale
This can vary according to the degree of urgency required. A Conveyance can take as little as a few days, if in a Contract race, up to a number of months in other cases.
Outline of transaction
The main stages are set out below, but the actual stages involved may vary from transaction to transaction:-
Carry out appropriate AML checks
Obtain your instructions and commence work
Obtain OCEs and draft Contract and submit to Buyer’s Solicitors, apply for Management Pack and ask you to complete appropriate Property Information and Fittings and Contents forms
Reply to additional enquiries as necessary
Once you are happy to proceed, send you final version of the Contract for signature and return
Exchange Contracts, prepare for Completion
Complete the transaction
Where appropriate acting for Lender to redeem their Charge
Paying Agent, Lender and accounting to you with he Net Proceeds of Sale (uness being put towards a subsequent Purchase)
Our Team
Nigel Lloyd was an Estate Agent until he embarked upon a change of career in 1987. His background in residential sales and lettings inspired him to gain legal experience in property and litigation as well as insurance litigation, shareholder disputes and contentious and non-contentious probate. He trained as a solicitor, working at several practices in the City and the West End of London before founding Lloyd Rehman & Co. (originally Lloyd & Co.) in 1993. He was admitted as a Solicitor in 1989 and has an MA in Business Law. Nigel is also a trained mediator and has a wealth of experience in participating in mediations within England and Wales.
Tina Bland is a Senior Solicitor, formerly had a public law career, experienced in planning and property transactions and all types of civil litigation and probate matters, education law experience including school appeals. She was admitted as a Solicitor in 1994.
