Conveyancing fees

Pricing

Pricing and further information for you to buy or sell your residential property

Moving home can be more stressful than a relationship breakdown, divorce or even a new job, according to research.  We can make matters easier for you be taking the pressure off and using the skills of our team to take you through the whole transaction smoothly.

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What work will you do for me?

On a sale, we will:

  • Make contact with your buyer’s conveyancer and your estate agent.

  • Order a copy of the registered title and associated documents.

  • Prepare a draft contract of sale.

  • Deal with enquiries from your buyers about:

    • The property itself

    • the title

    • Any separate arrangements agreed between you for items such as carpets, curtains, fixtures and fittings etc.

  • Liaise with you and others if necessary to answer the enquiries raised.

  • Make contact with any third parties who have provided you with a mortgage to make arrangements for these to be repaid on completion.

  • Agree the timetable for exchange and completion with all parties. 

  • Create a financial statement for you to show you how the transaction is structured.

  • Receive deposit funds when we exchange contracts and hold these in your name in our client account.

  • Receive the balance of funds due on completion.

  • Distribute the funds as you have instructed us to pay:

    • any outstanding balance on an existing mortgage

    • the estate agents’ fees

    • Russell & Co’s fees

    • any outstanding third party charges (disbursements)

  • We then process the balance in accordance with your instructions, typically this could be:

    • Putting the funds towards the purchase of a new house, or,

    • Sending the money electronically to your bank.

 

On a purchase, we will:

  • Receive the memorandum of sale from the seller’s estate agents giving us details of the terms you have agreed and who the seller’s conveyancer is.

  • Receive a draft contract from the seller’s conveyancer and liaise with you to finalise the contract you will sign prior to exchange and completion.

  • Carry out various relevant searches on the property which may affect the property itself, such as a local search, a drainage search and so on.

  • Review the contract, the Seller’s title and Property Information and raise any further enquiries that are necessary.

  • Review all information returned to us to make sure that the property you are buying is being sold by the person(s) who own it and they can give you good title to the property at the end of the process.

  • Speak to you as we go along with updates and handle any further questions that arise from the information we receive.

  • Calculate any additional charges that may be applicable, such as Stamp Duty Land Tax, Land Registry registration fees and compile a comprehensive financial statement which sets out the costs payable for you.

  • If applicable, liaise with a lender on your behalf if part of the purchase is being funded by a mortgage.

  • If anything requires an insurance policy to protect against future loss, to source those for you.

  • Agree the timetable for exchange and completion with all parties.

  • Handle the finances throughout the transaction on your behalf, ensuring that we have the necessary funds in place to settle:

    • any deposits payable

    • the costs for searches and other documents which we need to finalise the terms of the purchase for you.

    • the money due to the sellers at completion

    • registration fees payable to Land Registry

    • any Stamp Duty due

    • Russell & Co’s fees

    • any insurance policies we need to protect you against risk.

  • Liaise with the seller’s conveyancer to confirm that the completion has happened and where to collect the keys to your new home.

How long does it take?

In this scenario we are thinking about the sale of a freehold property for £250,000 with no mortgage to settle.  We are assuming that the enquiries from the buyers are straightforward and there is no chain of transactions.  Typically delays occur when there is a chain of transactions which depend on each other, each link will involve enquiries and discussions about the detail of each transaction and this can inevitably cause delays which are out of our control. 

We normally expect a straightforward sale like this, without a mortgage or a chain, to complete in about 6 to 8 weeks.

Who will look after us?

We are very proud of the team of legal advisers we have here to assist clients with the sale, purchase or re-mortgage of their properties. 

Name

Job Title

Hourly Rate

Lianne Curtis

Paralegal

£195.00

Licenced Conveyancer

Donna Ingram

£270.00

Residential Conveyancer

Jacqui Wheeler

£270.00

How much will it cost?

Let’s stay with our straightforward example:

A.     The sale of a freehold property

  1. priced at £250,000

  2. with a registered title

  3. no mortgage to redeem

  4. no chain involved

 

Russell & Co Fees are £1,250 plus VAT (£250). 

 

Typically, there are only a few additional fees (known as disbursements) applicable to a sale as follows:-

 

1)    Office copies - £3.00 per document.  These are the charges made by the Land Registry

2)    Telegraphic Transfer Fee - £21.00 - the charge made by the bank to transfer funds to another account.

 

B.     The cost of purchasing a freehold property

1.    for £275,000

2.    with a registered title

3.    no mortgage involved

4.    no chain involved

 

Russell & Co Fees are £1,400 plus VAT (£280). 

 

1)    Stamp Duty – £1,250.00.  This will be a different amount if you qualify as a first time buyer or if the higher rates apply

2)    Land Registry registration fee - £150.00

3)    Telegraphic transfer fee to send purchase price - £21.00 inclusive of VAT

4)    Searches approximately £385.00 to include:-

1.1.         Local authority,

1.2.         Water authority,

1.3.         Environmental report

5)   Final Land Registry search - £3 per Land Registry search

 

Beware of hidden extras

You may well see quotes from other providers with a “headline” price that appears to be cheaper but which, on closer scrutiny, will commit you to additional charges for work which we include as standard.

 

This often applies to things such as the arrangement of a bank transfer, the repayment of your mortgage on a sale, file and deeds storage and the submission of HMRC returns (for the payment of stamp duty on a purchase).  This can add hundreds of pounds to the cost of your transaction.

 

What is the fastest way for us to find out what our own transaction will cost?

Please call or email for a comprehensive quote to look after you.  We have colleagues on hand to note the specific elements of your purchase, sale or lease and we will quickly follow up with a quotation via email.