Pricing
Information
Residential Conveyancing Services
All our conveyancing transactions are supervised by qualified
solicitors, Bruce Buglear or Jeremy Bate. Bruce and Jeremy are specialist
property solicitors , and have been practising as
solicitors in Woking for more than 35 years.
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 £1325.00 - £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 £1,500.00 - £2,750.00 plus VAT for Freehold
properties, and an additional £350.00 - £650.00 plus VAT for a Leasehold
property.
Factors affecting the price include complexity (for example, shared
ownership properties add a significant layer of complexity because of the
additional lease arrangements with the housing association and special SDLT issues; Help to Buy
New Build properties are more expensive to handle because of the additional documentation and
tight deadlines that they feature) and urgency requiring us to give the
transaction priority over other work.
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 property. 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.
VAT on legal services (other than notary services) is charged at the standard
rate of 20%. Our notarial services are not subject to VAT.
More information on the steps in a typical conveyancing transaction, sample
costs and information on how long the transaction is likely to take here
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.
More information on the steps in a typical probate transaction, sample costs and information on
how long the transaction is likely to take here
Updated 5 February 2024