Residential Conveyancing Services
Our fees for acting on sales and purchases of residential property are based on the type of property (Freehold or Leasehold), the price of the property, the legal complexity involved - not all transactions are the same! - and the urgency and level of service and lawyer required. We always give a written estimate of fees in advance before commencing any transaction.
Generally, where the value of the property is up to £1,000,000.00, the charge for our legal work would be in the region of £925.00 - £1,850.00 plus VAT for a Freehold property and an additional £250.00 - £450.00 plus VAT for a Leasehold property. This figure is for our labour costs; in in addition, there will be associated expenses (known as "disbursements") for items such as a Land Registry fees and searches (more on this below).
Between £1,000,000.00 - £3,000,000.00 our standard fee for our legal work will be in the range of around £1,450.00 - £2,750.00 plus VAT for Freehold properties an additional £350.00 - £650.00 plus VAT for a Leasehold property.
The disbursements payable on a transaction depend on whether the transaction is a sale or a purchase and whether Freehold or Leasehold. Where we are required to transmit funds electronically (for example to a mortgage lender on a sale to pay off their mortgage) we charge a fee of £25.00 plus VAT for each transfer.
On a purchase transaction, there will typically be stamp duty (SDLT) to pay - this will vary according to the purchase price and the status of the purchasers (for example, whether they qualify for first time buyer reliefs or if they are subject to a higher rate in respect of the purchase of investment property), Local and Environmental Searches (around £250.00) and other searches depending on the kind of transaction involved. There will also be Land Registry fees on registering the transfer of ownership. These vary according to the price or value of the proerty. On a Leasehold purchase, the Freeholder will generally charge a fee for registering the change of ownership - usually somewhere between about £150.00 - £350.00.
On a sale, there will be Land Registry fees for obtaining up to date title documents. Usually around £6.00 - 9.00 for a freehold sale and £15 - £18.00 for a leasehold sold.
If there is a defect in the legal title then the buyers are likely require the seller to obtain a policy of indemnity insurance at an additional cost to indemnify against the risk of direct financial loss as a result of such defect. The cost of such policies varies according to the defect. Such defects can include issues such as lack of rights of access leading to the property, or missing documents relating to statutory approvals for historical works at the property or (on a leasehold property) defects in the lease such as inadequate arrangements for insuring the property.
On a Leasehold sale, the buyer's Solicitors will require information from the Freeholder as to such matters as the service charges, insurance documentation, etc. The seller is required to pay for this information and the cost is generally between about £150.00 - £350.00 - it varies according to the Freeholder.
Apart from the electronic bank transfer payment, all disbursements are charged at cost: we do not charge for our work involved in dealing with them and we do not receive any commission payment or any other third-party payments (such as estate agent referral fees).
We do not advertise for work and we do not pay for work-referrals. We do not receive any commission or other such benefits from any third party supplies such as search agents or insurers. Virtually all of our work comes from returning clients or recommendations from existing clients. We do our best to be fair and upfront with work quotes - and to provide a reasonable and cost-effective service - so that clients come back to us and recommend their friend and relatives to us.
Wills and Administration of Estates
We charge £350.00 plus VAT for a standard Will unless it involves complex issues - for example tax planning, foreign property or potential disputes with beneficiaries or between beneficiaries. If a couple instruct us at the same time to prepare Wills in essentially identical format then the cost is £450.00 plus VAT for both Wills.
The administration of estates is based on the time involved by the Solicitor handling the file. Our rate of charge is £225.00 plus VAT per hour for work undertaken on the case and a further figure of up to 0.5% of the deceased's interest in their residential property and up to 1% of the value of the deceased's other assets in accordance with Law Society guidelines.
Notary services are provided by our Public Notary, Jeremy Bate. The Notarial practice is a separate legal entity from the solicitor practice of Buglear Bate & Co.
The charge for providing Notarial services is as follows:
£110.00 for the first notarisation of a personal (non-commercial) document. If the document is on behalf of a company then the first notarisation is £125.00. In both cases, assuming only one person signing. For each additional signatory, add £30.00. So, for example, if two people are signing a personal document then the charge is £140.00, provided both signatories sign at the same appointment.
Each further notarisation required (whether personal or commercial) is an additional £30.00.
Depending on the destination country, a further level of authentication (known as "legalisation" or sometimes "apostillisation") may be required from the Foreign Office (£30.00 per document), and sometimes also the embassy and consulate of the destination country involved - it depends on the country. The embassy/consulate charges vary. We can advise you of the cost if you let us know which country is involved.
We can deal with the Foreign Office on your behalf if you wish (and also the Consular agents on your behalf if you wish) at an additional cost of £22.00 for the first document and £11.00 for any further documents. But it is not necessary to use the Notary to handle the legalisation/ apostillisation process: you can do this yourself or instruct Consular agents yourself and thereby save the cost of us handling this for you.
The embassies of some countries will also deal with notarisation of documents themselves and this can be cheaper alternative to using a notary: you can check this direct with the embassy or consulate of the destination country.
1 July 2019
Updated 1 July 2019
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