Conveyancing Costs

Fahri LLP is accredited with the Law Society’s Conveyancing Quality Scheme kitemark and endeavour to provide a professional and efficient legal service to individuals who instruct us to handle residential property transactions (such as sales, purchases or linked sales and purchases). We do not offer different levels of service depending upon the legal fee charged.  For example, we do not offer an online only service, or a service with a capped number of telephone discussions within a set price.  Fahri LLP charge what we believe to be a fair and proper fee to reflect the bespoke and tailored service that we provide.

Fahri LLP tends to work on a repeat basis for clients who know us or who have been recommended to us. However, we are independent and neither pay nor accept referral fees.

Our Residential Property Team is headed by Wendy Fahri, a Partner. Details of her experience, and those within the Team, can be easily accessed by clicking on the names below.  A member of the Team would handle your matter, normally from beginning to the end under the supervision of a Partner.  

LEGAL FEES AND DISBURSEMENTS RELATING TO SALE AND PURCHASE TRANSACTIONS

FREEHOLD SALE

 

Up to £500,000 £500,001 to £750,000 £750,001 to £1,000,000 £1,000,001 to £1,250,000
Legal Fees plus VAT
Initial Legal Fee * £1,250.00 £1,500.00 £1,750.00 £2,250.00
Plus VAT £250.00 £300.00 £350.00 £450.00
Total £1,500.00 £1,800.00 £2,100.00 £2,700.00
Mortgage redemption and discharge (if applicable) £150.00 £150.00 £150.00 £150.00
Plus VAT £30.00 £30.00 £30.00 £30.00
Total £180.00 £180.00 £180.00 £180.00
Bank Transfer Fee £35.00 £35.00 £35.00 £35.00
Plus VAT £7.00 £7.00 £7.00 £7.00
Total £42.00 £42.00 £42.00 £42.00
Total Fees without mortgage redemption plus VAT £1,722.00 £2,022.00 £2,322.00 £2,922.00
Total Fees with mortgage redemption plus VAT £1,902.00 £2,202.00 £2,502.00 £3,102.00
Disbursements plus VAT
Land Registry copy title documents (estimate) £6.00 £6.00 £6.00 £6.00
VAT £0.00 £0.00 £0.00 £0.00
Total Disbursements plus VAT £6.00 £6.00 £6.00 £6.00
Grand Total Fees without mortgage redemption, Disbursements plus VAT £1,728.00 £2,028.00 £2,328.00 £2,928.00
Grand Total Fees with mortgage redemption, Disbursements plus VAT £1,908.00 £2,208.00 £2,508.00 £3,108.00

 

LEASEHOLD SALE Up to £500,000 £500,001 to £750,000 £750,001 to £1,000,000 £1,000,001 to £1,250,000
Fees plus VAT
Initial Fee * £1,400.00 £1,750.00 £2,000.00 £2,500.00
Plus VAT £280.00 £350.00 £400.00 £500.00
Total £1,680.00 £2,100.00 £2,400.00 £3,000.00
Mortgage redemption and discharge (if applicable) £150.00 £150.00 £150.00 £150.00
Plus VAT £30.00 £30.00 £30.00 £30.00
Total £180.00 £180.00 £180.00 £180.00
Bank Transfer Fee £35.00 £35.00 £35.00 £35.00
Plus VAT £7.00 £7.00 £7.00 £7.00
Total £42.00 £42.00 £42.00 £42.00
Total without mortgage redemption Fees plus VAT £1,902.00 £2,322.00 £2,622.00 £3,222.00
Total with mortgage redemption Fees plus VAT £2,088.00 £2,502.00 £2,802.00 £3,402.00
Disbursements plus VAT
Land Registry copy title documents (estimate) £20.00 £20.00 £20.00 £20.00
Freeholder/Leaseholder Information Pack (estimate) £250.00 £250.00 £250.00 £250.00
Plus VAT on Freeholder/Leaseholder Information Pack £50.00 £50.00 £50.00 £50.00
Total Disbursements plus VAT £320.00 £320.00 £320.00 £320.00
Grand Total Fees without mortgage redemption, Disbursements plus VAT £2,222.00 £2,642.00 £2,942.00 £3,542.00
Grand Total Fees with mortgage redemption, Disbursements plus VAT £2,402.00 £2,822.00 £3,122.00 £3,722.00

 

FREEHOLD PROPERTY PURCHASE Up to £500,000 £500,001 to £750,000 £750,001 to £1,000,000 £1,000,001 to £1,250,000 £1,250,001 to £1,500,000
Legal Fees plus VAT
Initial Legal Fee * £1,250.00 £1,500.00 £1,750.00 £2,250.00 £2,500.00
Plus VAT on Initial Fee £250.00 £300.00 £350.00 £450.00 £500.00
Total £1,500.00 £1,800.00 £2,100.00 £2,700.00 £3,000.00
Mortgage work (if applicable) £250.00 £250.00 £250.00 £250.00 £250.00
Plus VAT £50.00 £50.00 £50.00 £50.00 £50.00
Total £300.00 £300.00 £300.00| £300.00 £300.00
Bank Transfer Fee £35.00 £35.00 £35.00 £35.00 £35.00
Plus VAT £7.00 £7.00 £7.00 £7.00 £7.00
Total £42.00 £42.00 £42.00 £42.00 £42.00
Total Fees without mortgage plus VAT £1,542.00 £1,842.00 £2,142.00 £2,742.00 £3,042.00
Total Fees with mortgage plus VAT £1,842.00 £2,142.00 £2,442.00 £3,042.00 £3,342.00
Disbursements plus VAT
Search Pack (average cost) £400.00 £400.00 £400.00 £400.00 £400.00
Priority Search OS1/OS2 £3.00 £3.00 £3.00 £3.00 £3.00
Bankruptcy Search (if mortgage) £2 per name and gifting donor (if applicable) £2.00 £2.00 £2.00 £2.00 £2.00
Stamp Duty Land Tax (SDLT) – calculate at https://www.gov.uk/stamp-duty-land-tax/residential-property-rates          
Land Registry registration fee – See Land Registry Fee Scale http://landregistry.data.gov.uk/fees-calculator.html          
Total Disbursements (excluding SDLT and Land Registry fee) plus VAT £405.00 £405.00 £405.00 £405.00 £405.00
Grand Total Fees without mortgage, Disbursements (excluding SDLT and Land Registry fee) plus VAT £1,947.00 £2,247.00 £2,547.00 £3,147.00 £3,447.00
Grand Total Fees with mortgage, Disbursements (excluding SDLT and Land Registry fee) plus VAT £2,247.00 £2,547.00 £2,847.00 £3,447.00 £3,747.00

 

LEASEHOLD PROPERTY PURCHASE Up to £500,000 £500,001 to £750,000 £750,001 to £1,000,000 £1,000,001 to £1,250,000 £1,250,001 to £1,500,000
Legal Fees plus VAT
Initial Legal Fee * £1,400.00 £1,750.00 £2,000.00 £2,500.00 £3,000.00
Plus VAT £280.00 £350.00 £400.00 £500.00 £600.00
Total £1,680.00 £2,100.00 £2,400.00 £3,000.00 £3,600.00
Mortgage work (if applicable) £250.00 £250.00 £250.00 £250.00 £250.00
Plus VAT £50.00 £50.00 £50.00 £50.00 £50.00
Total £300.00 £300.00 £300.00| £300.00 £300.00
Bank Transfer Fee £35.00 £35.00 £35.00 £35.00 £35.00
Plus VAT £7.00 £7.00 £7.00 £7.00 £7.00
Total £42.00 £42.00 £42.00 £42.00 £42.00
Total Fees without mortgage plus VAT £1,722.00 £2,142.00 £2,442.00 £3,042.00 £3,642.00
Total fees with mortgage plus VAT £2,022.00 £2,442.00 £2,742.00 £3,342.00 £3,942.00
Disbursements plus VAT
Property Search Pack including VAT (average cost) £400.00 £400.00 £400.00 £400.00 £400.00
Priority Search OS1/OS2 £3.00 £3.00 £3.00 £3.00 £3.00
Bankruptcy Search (if mortgage) £2 per named person and gifting donor £2.00 £2.00 £2.00 £2.00 £2.00
Landlord/Freeholder Notice of Assignment and Charge Fee (estimate) £100.00 £100.00 £100.00 £100.00 £100.00
Stamp Duty Land Tax (SDLT) – calculate at https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Land Registry registration fee – See Land Registry Fee Scale http://landregistry.data.gov.uk/fees-calculator.html
Total Disbursements plus VAT £505.00 £505.00 £505.00 £505.00 £505.00
Grand Total Fees without mortgage, Disbursements (excluding SDLT and Land Registry fee) plus VAT £2,227.00 £2,647.00 £2,947.00 £3,547.00 £4,147.00
Grand Total Fees with mortgage, Disbursements (excluding SDLT and Land Registry fee) plus VAT £2,527.00 £2,884.00 £3,247.00 £3,847.00 £4,447.00
*These fees vary from property to property and can on occasion be significantly more or less than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

 

ASSUMPTIONS

When calculating our Legal Fee it is assumed that:

  1. The transaction is concluded in a timely manner and no unforeseen complication arise, such as (but not limited to), a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction;
  2. Where you are buying / selling a leasehold property, it is the assignment of an existing lease and is not the grant of a new lease;
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
  4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

TIMING

Timing of your transaction will depend on a number of factors, to include if mortgage finance is required, if there is a chain and the length of it, where the property is leasehold if landlord’s licence to assign is required, how long the managing agents take to provide management information, etc.

The average sale or purchase transaction takes between 6-12 weeks but may be quicker or slower, depending on the factors mentioned above. If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, say, between 3 to 4 months.  The average refinance transaction takes approximately 3-6 weeks, depending on the complexity.

STAGES OF THE TRANSACTION

Set out below are some of the key stages involved in different types of transactions.  These will, of course, vary depending on the transaction and are a guide only.

Purchase

  • Obtaining your instructions and ID documents;
  • Checking that your financial arrangements are in hand and obtaining source of funds;
  • Receiving the contract pack from the seller’s solicitor;
  • Undertaking investigation on title to include obtaining property searches and reviewing the seller’s solicitor’s contract pack (to include reviewing the lease for a leasehold transaction);
  • Review Management Pack (only for a leasehold transaction);
  • Raising pre-contract enquiries;
  • Negotiating and finalising the wording for the Contract:
  • Reporting to you.
  • With regard to your mortgage (if applicable):
    • Receiving your lender’s instructions and mortgage offer and reviewing the same;
    • Dealing with your lender’s requirements;
    • Reporting to you on the terms of the mortgage documents;
    • Reporting to your lender;
    • Requesting funds;
  • Carrying out a priority search and bankruptcy searches (if applicable);
  • Drafting the Transfer Deed;
  • Negotiating and finalising the wording for the Transfer Deed;
  • Drafting requisitions on title;
  • Completing the Purchase;
  • Completing your Stamp Duty Land Tax Return, submitting the same to HMRC and paying the tax due;
  • Completing the Notice of Transfer and Charge (if applicable in leasehold transactions);
  • Registering the Transfer Deed and Mortgage (if applicable) at the Land Registry.

Sale

  • Obtaining your instructions, ID documents and completed property information forms;
  • Obtaining title documents from the Land Registry;
  • Drafting the Contract for sale;
  • Obtain a Management Pack (for a leasehold sale only)
  • Putting together a contract pack to send to the buyer’s solicitor to include title documents e.g. Lease (if leasehold sale), official copy entries, protocol forms and any other relevant documents;
  • Receiving and dealing with pre-contract enquiries;
  • Negotiating and finalising the wording for the Contract;
  • Exchange of Contracts;
  • Negotiating and finalising the wording for the Transfer Deed;
  • Dealing with replies to requisitions on title;
  • Applying for a redemption statement (if applicable);
  • Completing the sale;
  • Dealing with redemption and discharge of any existing charges at the Land Registry (if applicable);
  • Paying the estate agent (unless it is a private sale).

Refinance

  • Obtaining your instructions and ID documents;
  • Undertaking investigation on title to include obtaining property searches;
  • Obtaining information in relation to the property from you;
  • Obtaining management information in relation to the property;
  • Receiving your lender’s instructions and mortgage offer and reviewing the same;
  • Dealing with your lender’s requirements;
  • Reporting to you on the terms of the mortgage documents;
  • Reporting to your lender and requesting the mortgage advance;
  • Carrying out pre-completion searches;
  • Registering the bank’s Mortgage at the Land Registry;
  • Redeeming and discharging any existing mortgages registered against the property.

CONTACT

If you would like a fixed price quote for our Legal Fee then please make contact with Wendy Fahri at 0203 813 8452 ([email protected]) in our North London Office or Roumiana Dimitrova at 01992 350 172 ([email protected]) in our Hertford Office.