Mortgage of Residential Property Service Pricing Information.

Legal Fees Assumptions

Our Legal Fees assume that:

• Any specific transaction is a standard transaction and that no unforeseen matters arise including for example (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
• If leasehold, this is the assignment of an existing lease and is not the grant of a new lease
• The transaction is concluded in a timely manner and no unforeseen complication arise
• All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
• You take the advice of other professionals if this proves advisable or necessary

Conveyancer’s Fees and Disbursements

The fees are likely to be in the range of £550 to £700 plus VAT (£660 to £840 with VAT), this assumes a freehold property. If it is leasehold it is likely there will be further costs to the landlord and/or management company and our fees would also increase by 20% plus VAT to £660 to £840 plus VAT (£792 to £1,008 with VAT). However, there may be circumstances where your matter is more complex and we will discuss with you if our costs will be higher.

Bank transfer administration fee should you require the net mortgage advance paid by CHAPS (BACS payments are free but take a few working days): £30 plus VAT (£36 with VAT).

Our fee for identity and anti-money laundering verification and source of funds verification: £50 plus VAT (£60 with VAT).

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. These are likely to include:

• Search fees. These for the average property would be for a search of the local authority registers, the land charges registers of the local authority, a water and drainage search and an environmental search at around £250 to £333.33 plus VAT (£300 to £400 with VAT. It may be that other searches are required as some are area dependent and there are some optional searches that you may wish to purchase
• HM Land Registry fees:  see https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-2-fees. We use the portal where possible
• HM Land Registry and Land Charges Registry search fees: £7 plus VAT (£8.40 with VAT)