CLEAR PRICING INFORMATION FOR RESIDENTIAL CONVEYANCING

FREEHOLD, LEASEHOLD, MORTGAGE AND REMORTGAGE TRANSACTIONS

Reference to VAT is at its current rate of 20%.

At Prettys Solicitors we have an experienced team to advise and guide you through buying and selling your home. We have moved many people and so know how important it is that you are kept informed at every stage.

Our Fees

For helping you buy or sell your home our fees range from £795 plus VAT for a straightforward simple transaction, up to around £4,000 plus VAT for a historic building on unregistered land. Our fees will vary depending on the complexity of your transaction and that is why we will give you an individual cost estimate at the start of a transaction and will advise you immediately if any complications may affect the price. 

As an example for a sale between £250,000 and £350,000 we would anticipate our fees would be between £795 and £950 plus VAT, and for your purchase between £250,000 and £350,000 our fees would be between £825 and £950 plus VAT.

Our prices may look high in comparison to some other providers but we would ask that you consider the implication of you or us missing something, the work involved and the deadlines that are often set, the availability of our professional insurance cover and the various other factors in what is a complex process before you compare us on price alone. 

Expenses and Disbursements

These are costs related to your transaction which are payable to third parties. We look after the payment of the disbursements on your behalf.  Example of these are search fees, Land Registry fees, notice and leasehold information pack charges and bank fees. They average between £500 to £1,000 in total and VAT may be payable.

Our fees do not include any external costs e.g. Estate agents, removal costs and environmental remediation costs – you will be responsible for these items. 

A. Sale - Freehold

  Telegraphic Transfer Fee

  £25.00 +VAT @ 20%

  Land Registry Office Copy Entries
  (The number and type of Land Registry documents we obtain will depend upon the   individual property being sold)

  £6.00 - £20.00 +VAT @ 20%
  Each document is £3.00 +VAT @ 20%

B. Purchase - Freehold

  Telegraphic Transfer Fee   £25.00 +VAT @ 20%
  Search Fees - approximate   £350.00-£500.00 (inclusive of VAT)
  Bankruptcy Search (per purchaser)   £2.00 +VAT @ 20%
  Land Registry OS1 search   £3.00 +VAT @ 20%

  Lender Portal fee
  (Some Lenders are members of a conveyancing portal which   charge for downloading mortgage offers and other   documents)

  £10.00-£15.00 +VAT @ 20%
  Stamp Duty (no VAT is payable)   Dependent on the purchase price of your property. You can   calculate the amount you will need to pay by using HMRC's website   Stamp Duty Land Tax Calculator or if the property is located in   Wales by using the Welsh Revenue Authority's website Calculate   Land Transaction Tax.
  Land Registry Fee (no VAT is payable)   Land Registry Fees payable are based on a scale according to the   value of the property (refer to the Land Registry fee guide).

 

Our Fees

Leasehold Property Sales and Purchases have added complexities and costs.  Buying a leasehold property will involve us checking the lease and reporting to you on its terms and reporting to you on the freeholder and management company information including ground rent, service charges and any conditions and regulations. With a leasehold sale there will be an additional disbursement cost of managing agent’s or freeholder’s information pack and our fees for the sale of property value £250,000 to £350,000 will be between £950 and £1,050 plus VAT. With a leasehold purchase of similar value range, our fees will be in the region of £975 to £1,110 plus VAT. 

Expenses and Disbursements

C. Sale - Leasehold

  Telegraphic Transfer Fee   £25.00 +VAT @ 20%

  Land Registry Office Copy Entries
  (the number and type of Land Registry documents we obtain depend upon the individual property   being sold)

  £6.00-£20.00 +VAT @ 20%
  Each document is   £3.00 +VAT @ 20%

  Management Packs
  (In addition to the expenses set out above there are often, in the case of leasehold properties, fees   payable to the landlord and/or management company for supplying up to date leasehold   information in connection with the sale and fees can vary greatly).

  £150.00 and £500.00 +VAT   @ 20%

D. Purchase - Leasehold

  Telegraphic Transfer Fee   £25.00 +VAT @ 20%
  Search Fees - approximate   £350.00-£500.00 (inclusive of VAT)
  Bankruptcy Search (per purchaser)   £2.00 +VAT @ 20%
  Land Registry OS1 search   £3.00 +VAT @ 20%

  Lender Portal Fee
  (Some Lenders are members of a conveyancing portal which   charge for downloading mortgage offers and other documents

  £10.00-£15.00 +VAT @ 20%
  Stamp Duty (no VAT is payable)   Dependent on the purchase price of your property. You can   calculate the amount you will need to pay by using HMRC's   website Stamp Duty Land Tax Calculator or if the property   is located in Wales by using the Welsh Revenue Authority's   website Calculate Land Transaction Tax.
  Land Registry Fee (no VAT is payable)   Land Registry Fees payable are based on a scale according   to the value of the property (refer to the Land Registry fee   guide).

  Notice of Transfer
  The fee payable will vary according to the terms in the lease
  (*in most, but not all, cases VAT is payable)

  £30.00-£100.00 +VAT @ 20%

  Notice of Mortgage Fee (if applicable)
  The fee payable will vary according to the terms in the lease 
  (*in most, but not all, cases VAT is payable)

  £30.00-£100.00 +VAT @ 20%

The following may also be required - dependent on the terms in the lease and requirements of the landlord/management company.

  Deed of Covenant Fee
  You may be required to enter into a Deed of Covenant - estimated fee
  (*in most, but not all, cases VAT is payable)

  £100.00-£200.00 +VAT @   20%

  Compliance Certificate Fee
  With some leasehold properties a fee is payable to the landlord or management company in   order to obtain a certificate to confirm that procedures set out in the lease with regard to a   transfer of ownership have been complied with.
  (*in most, but not all, cases VAT is payable)

  £100.00-£200.00 +VAT @   20%
  • You should also be aware that as there will be a landlord/managing agent involved, there will be apportionments of service charge/ground rent/ building insurance to calculate.
  • The ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

 

When Can I Move? 

Is a frequently asked question and the answer depends on a number of factors. The average process takes between 10-14 weeks. This may be quicker or slower depending on the parties in the chain. We will be in contact regularly so you will know in good time when to start packing and booking the removals. 

We offer a bespoke personal service and your house sale and purchase may vary according to the circumstances. If everything fits the standard plan the Stages of the Process will include the following:

Sale

  • Take your instructions and give you initial advice
  • Prepare and issue contracts for your sale
  • Deal with enquiries on your sale
  • Send contract documents for you for signature
  • Agree a completion date
  • Exchange contracts
  • Obtain up to date redemption figures from your mortgage
  • Complete your sale
  • Account to you for any monies due to you following redemption of your mortgage

Purchase

  • Take your instructions and give you initial advice
  • Check finances are in place for your purchase
  • Receive contract documents and raise any Title enquiries
  • Carry out searches on your purchase
  • Check your mortgage offer
  • Give you advice on all documents and information received
  • Send contract documents to you for signature
  • Agree a completion date
  • Exchange contracts
  • Arrange for your mortgage monies to be released
  • Complete your purchase
  • Account to you for any monies due to you
  • Notify mortgage lender and freeholder management company if leasehold purchase
  • Deal with stamp duty and registration of ownership at the Land Registry

 

Our Fees

We can also assist you with mortgages and remortgages. Our typical costs range from £500 to £700 plus VAT and we would estimate a timescale of 4-6 weeks. There will be added disbursements including searches and Land Registry fees with an estimated range of £80 to £150. These costs do not include work to rectify defects in Title, second charges, equity release mortgages, restrictions on the Title and any Declaration of Trust. We can quote you for our costs relating to these separately. 

Expenses and Disbursements

E. Mortgage and Remortgage - Freehold

  Telegraphic Transfer Fee   £25.00 +VAT @ 20%

  Lender Portal Fee
  (Some Lenders are members of a conveyancing portal which charge for downloading mortgage   offers and other documents)

  £10.00-£15.00 +VAT @ 20%

  Search Fees 
  (These are dependent on the mortgage lender's requirements). Other searches may also be   required, depending on the mortgage lender's requirements OR

  £350.00-£500.00 (inclusive   of VAT)

  Alternative to Search Fees
  No Search Insurance
  (If acceptable to the mortgage lender, No Search Insurance can be arranged)

  £30.00-£100.00 +VAT @ 20%

  Land Registry Office Copy Entries
  (the number and type of Land Registry documents we obtain will depend upon the individual   property being remortgaged and the number of parties to the remortgage for the final searches)

  £6.00-£20.00 +VAT @ 20%
  Each search is £3.00 +VAT   @ 20%

  Bankruptcy Search (per purchaser)   £2.00 +VAT @ 20%
  Land Registry OS1 search   £3.00 +VAT @ 20%
  Land Registry Fee (no VAT is payable)   Land Registry Fees payable   are based on a scale   according to the value of the   property (refer to the Land   Registry fee guide).

F. Mortgage and Remortgage - Leasehold

  All of the above expenses and disbursements listed at E. plus:  
  Notice of Transfer   £30.00-£100.00 +VAT @ 20%

  Notice of Mortgage Fee (if applicable)
  The fee payable will vary according to the terms in the lease
  (*in most, but not all, cases VAT is payable)

  £30.00-£100.00 +VAT @ 20%

  Management Packs
  (In addition to the expenses set out above there are often, in the case of leasehold properties, fees   payable to the landlord and/or management company for supplying up to date leasehold   information in connection with the sale and fees can vary greatly).

  £150.00 and £500.00 +VAT   @ 20%

The following fees may be, but are not always, payable in respect of mortgages and remortgages of leasehold property.

  Deed of Covenant Fee
  You may be required to enter into a Deed of Covenant - estimated fee
  (*in most, but not all, cases VAT is payable)

  £100.00-£200.00 +VAT @   20%

  Compliance Certificate Fee
  With some leasehold properties a fee is payable to the landlord or management company in order   to obtain a certificate to confirm that procedures set out in the lease with regard to a transfer of   ownership have been complied with.
  (*in most, but not all, cases VAT is payable)

  £100.00-£200.00 +VAT @   20%

 

We have experienced staff accredited by the Law Society Conveyancing Quality Scheme who will be assisting you with your transaction. The contact details for the people involved can be found on their profiles below. 

Why Choose Us?

We are not the cheapest but we pride ourselves on our service to clients; our experienced staff will offer a tailor-made service to you. We work very closely with local professionals including surveyors, valuers, mortgage and insurance brokers, financial advisors and accountants and have a good working relationship with local estate agents. You will have clear fee transparency, regular updates and car parking available at our centrally located Ipswich office where a welcome pot of tea, coffee and biscuits are waiting for you when you come to see us.

Personnel

The Residential Property team is made up of the following personnel. Their full profiles can be found by clicking the link on their name. 

Neil Ford – Solicitor, £150 per hour

Neil qualified as a solicitor in 1994 and has specialised in residential conveyancing throughout his career. Before joining Prettys in 2017, Neil worked mainly in North East London and Essex where he became a partner in a long-established firm of solicitors. Neil spends all his time working with the Residential Property Team.

Joseph Jordan – Paralegal, £100 per hour

Joseph joined Prettys in 2018 and works within the residential property team. Joseph completed his LLB Law Degree in 2012 and Legal Practices Course in 2013. Joseph assists the team with all aspects of residential conveyancing work whilst managing his own caseload.