Frank & Co (revised 2019).
Residential Conveyancing Costs
Each transaction is unique and tailored to your requirements therefore the information provided on this page is meant to provide an indication of costs only.
What will it Cost?
- We will agree a fixed fee for our services with you before commencing your transaction. This will be tailored to your transaction and will detail all the legal costs, VAT and any known disbursements. In some transactions the exact cost of some of the disbursements may be unknown at the outset e.g. Landlord Notice fees or the cost of a Managing Agents/Freeholders Management Pack but we will initially give you an estimate of those disbursements based on our experience and we will then advise you of the cost of those disbursements as soon as we are made aware of them. Our fee will depend on several factors including (but not limited to): whether the transaction is a sale/purchase/re-mortgage; whether the property is freehold or leasehold; the value of the property and your personal timescale requirements. Should any unforeseen additional work arise that goes beyond a standard conveyancing transaction then we will immediately advise you of this and we may have to increase our fee to cover the extra work undertaken on your behalf. Where your instructions require that work is undertaken outside normal office hours, we reserve the right to increase our fixed fee to reflect this factor. We would not undertake any extra work without your prior consent to the fee increase. Typically, our fees will fall within a range of £1,250.00 plus VAT to £5,000.00 plus VAT per property transaction.
What are the likely disbursements?
- Disbursements are payments that we will make on your behalf to third parties during the course of the transaction e.g. Land Registry fees, search fees, bank transfer fees, Stamp Duty Land Tax (SDLT) on the purchase price. The disbursements that apply will depend on the nature of the transaction and we will itemise the disbursements particular to your transaction in our quotation to you. For further information on SDLT you can refer to https://www.gov.uk/stamp-duty-land-tax.
We reserve the right to charge an additional fee for special postal services, copying, couriers and travelling costs. These would be set out in your invoice and further details would be available upon request.
What work in included in the price ?
The work undertaken will vary according to the type of transaction (e.g. if it is freehold or leasehold or if it is a sale or purchase) but some of the key stages are set out below for illustration purposes only:
o Taking your instructions and providing initial advice.
o Receiving or preparing contract documentation.
o Carrying out searches.
o Making all necessary pre-contract enquiries.
o Reporting to you.
o Exchanging contracts and completing the transaction.
o Acting for your mortgage lender.
o In leasehold purchases, dealing with apportioning ground rent, service charges, reserve fund and insurance rent payments.
o Dealing with post-completion matters to include obtaining the SDLT Certificate and registration at the Land Registry.
How long will my Sale/Purchase take?
- Our policy is to work in a proactive manner ensuring that our clients complete the sale/purchase transaction as soon as possible. Delays can result from factors outside of our control e.g. the number of other transactions in the chain, delay from other buyers/sellers in the chain, delay from third parties, unforeseen complications such as a defective title or delays caused by a mortgage lender. The average timescale in a freehold purchase without unexpected delays would be 6-8 weeks from instruction to completion.