Costs for buying or selling a property
From buying or selling your home to investing in rental property, our specialist team of lawyers will give you advice and guidance every step of the way. We know that transparency and communication is key to our clients, we therefore focus on keeping you informed, with clear fixed pricing, regular email and phone updates. We understand that buying and selling a property can be stressful without full visibility of the process and work hard to make sure this is not the case. Buying a new property can be very exciting and we are here to support you through the legal part, making it as pain free as possible. When selling a property there is a lot to think about. Getting the right agent, handling valuations and juggling viewings can be incredibly time consuming. We believe in making the legal part of the process as easy as possible. Providing you with a friendly professional who knows you and your transaction well, are just some of the ways we help.
Costs for buying a property
Before we commence with any transaction, we will provide you with an estimate of the legal fees for your specific transaction.
We will provide you with a fee estimate as for residential conveyancing matters, we do not charge on an hourly basis.
| Sale Price (£) | Legal Fees (£) |
| 1 - 200,000 | 2,000.00 plus VAT at 20% |
| 200,001 - 300,000 | 2,000.00 plus VAT at 20% |
| 300,001 - 400,000 | 2,150.00 plus VAT at 20% |
| 400,001 - 500,000 | 2,150.00 plus VAT at 20% |
| 500,001 - 600,000 | 2,350.00 plus VAT at 20% |
| 600,001 - 700,000 | 2,350.00 plus VAT at 20% |
| 700,001 - 800,000 | 2,500.00 plus VAT at 20% |
| 800,001 - 900,000 | 2,500.00 plus VAT at 20% |
| 900,001 - 1,000,000 | 2,500.00 plus VAT at 20% |
| 1,000,001 - 1,500,000 | 3,500.00 plus VAT at 20% |
| 1,500,001 - 2,000,000 | 4,500.00 plus VAT at 20% |
| 2,000,001 - 15,000,000 | 5,000.00 - 15,500.00 plus VAT at 20% |
You will also incur a one-off bank transfer fee of £30 + VAT at 20%.
The following charges will also apply if relevant to the property you are buying:
| New build property | £500.00 + VAT at 20% |
| Shared ownership | £500.00 + VAT at 20% |
| Leasehold | £350.00 + VAT at 20% |
You will also incur the following payments to third parties (Disbursements):
| Searches (approx.) | £300 - £400 + VAT at 20% |
Stamp Duty Land Tax:
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over £125,000 in England and Northern Ireland. VAT is not payable on SDLT for residential properties.
The amount you will pay will depend on the value of the property and your personal circumstances.
You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out approximately how much tax you will need to pay.
Land Registration Fee:
All property purchases need to be registered at the Land Registry. They charge a fee for this, which depends on the value and nature of the title to the property (i.e. higher fees are payable for transfers of part and unregistered titles etc). This fee is not subject to VAT. You are able to work out the exact amount you will be charged via this link to the Land Registry’s fees calculator.
Please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely, however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances. We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.
Miscellaneous Costs:
During the course of the purchase, we may also incur some miscellaneous expenses on your behalf. These include:
| Lawyer Checker | £18 plus VAT at 20% |
| Land Registry Searches | £7 (approx) (No VAT) |
| Legl Online ID verification | £20 plus VAT at 20% per person |
| LMS Fee (a fee that your mortgage lender may impose) | £35 plus VAT at 20% |
If you are purchasing a leasehold property, or freehold property with a management company you may also have to pay additional fees such as:
| Notice of Transfer and Charge approx. | £100 to £400 * |
| Deed of Covenant Fee approx. |
£100 to £500 * |
| Certificate of Compliance fee |
£100 to £500 * |
* Unfortunately, there is so much variance between management companies we are unable to confirm these fees with any confidence at the outset, but we will advise you of them prior to exchange of contracts. The fee range provided above is very much an approximation. Whether VAT is payable on these fees will depend on whether the management company is VAT registered.
Timescales
How long it will take to exchange and then complete a purchase will vary on a case-by-case basis.
It will be dependent on a number of factors and some of which might be beyond our control This could include the extent of any chain, your mortgage provider and on a leasehold property or a freehold property where service charges are payable, the provision of a Leasehold or a Freehold Sales Information Pack - more commonly known as a Form LPE1 and Form FME1. Other factors might include and if relevant, an extension to the term of the existing lease and/or a variation to its terms.
Typically, a freehold purchase will take between 6 to 12 weeks and a leasehold purchase between 10 to 14 weeks and from the point at which draft contract papers are received from the Solicitors for the Seller.
These timescales are for guidance only and for the reasons explained, may vary and so be quicker or longer.
Costs for selling a property
Before we commence with any transaction we will provide you with an estimate of the legal fees for your specific transaction.
We will provide you with a fee estimate as for residential conveyancing matters, we do not charge on an hourly basis.
| Property Value (£) | Legal Fees (£) |
| 1 - 200,000 | 1850.00 plus VAT at 20% |
| 200,001 - 300,000 | 1850.00 plus VAT at 20% |
| 300,001 - 400,000 | 2050.00 plus VAT at 20% |
| 400,001 - 500,000 | 2200.00 plus VAT at 20% |
| 500,001 - 600,000 | 2250.00 plus VAT at 20% |
| 600,001 - 700,000 | 2250.00 plus VAT at 20% |
| 700,001 - 800,000 |
2350.00 plus VAT at 20% |
| 800,001 - 900,000 | 2450.00 plus VAT at 20% |
| 900,001 - 1,000,000 | 2500.00 plus VAT at 20% |
| 1,000,001 - 1,500,000 | 3,500.00 plus VAT AT 20% |
| 1,500,001 – 2,000,000 | 4,500.00 plus VAT at 20% |
| 2,000,001 – 15,000,000 |
5,000.00.00 - 15,500.00 plus VAT at 20% |
You will also incur a one-off bank transfer fee of £30 + VAT at 20% for each same day transfer BPE carries out on your behalf i.e. to repay your mortgage and remit the net sale proceeds to you.
If your property is any of the following, the following charges will also apply:
| Shared Ownership | £200.00 + VAT at 20% |
| Listed Building | £200.00 + VAT at 20% |
| Leasehold | £200.00 + VAT at 20% |
You will also incur the following payments to third parties (Disbursements):
| Copy Documents from HM Land Registry (approx.) | £6 - £30 |
Please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely, however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances. We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.
Miscellaneous Costs
During the course of the sale, we may also incur some miscellaneous expenses on your behalf. These include:
| Legl Online ID verification | £20 plus VAT at 20% per person |
If you are purchasing a leasehold property, or freehold property with a management company you may also have to pay additional fees such as:
| Enquiries fees (LPE1/FME1) | approx. £250 to £600 * |
* Unfortunately, there is so much variance between management companies we are unable to confirm these fees with any confidence at the outset, but we will advise you of them prior to exchange of contracts. The fee range provided above is very much an approximation. Whether VAT is payable on these fees will depend on whether the management company is VAT registered.
Timescales
How long it will take to exchange and then complete a sale will vary on a case-by-case basis.
It will be dependent on a number of factors and some of which might be beyond our control. Examples may include the extent of any chain, the Buyer’s mortgage provider and on a leasehold property or a freehold property where communal area charges are payable to a management company, receipt of a Leasehold or a Freehold Sales Information Pack (and more commonly known as a Form LPE1 and Form FME1) from the Managing Agent/Management Company.
On the sale of a leasehold property, other factors might include and if required, an extension to the term of the existing lease and/or a variation to its terms.
Typically, a freehold sale will take between 6 to 12 weeks and a leasehold sale between 10 to 14 weeks and from the point at which draft contract papers are sent to the Solicitors for the Buyer.
These timescales are for guidance only and for the reasons explained, may vary and so be quicker or longer.
We have taken all reasonable steps to ensure the price information set out on our website provides an accurate and realistic indication of the costs of obtaining certain legal advice today, but we may update the information at any time in the future.
Whilst we hope this information is helpful as an initial guide, we will provide you with a specific fee proposal and a copy of our standard terms of business when you instruct us to undertake work.
Re-mortgaging
If you're looking to remortgage your property to take advantage of a better mortgage rate, we can help.
We can provide you with a fixed price service to give you price certainty, our experienced and knowledgeable team make sure you are kept in the loop and receive regular communications.
Do you need a solicitor when remortgaging a property?
If your remortgage is with your existing lender, then the answer is you won't need a solicitor, however if you will be changing lenders then you will need a solicitor to support you through the legal process, our team have experience of supporting our clients through this process.
| Property Value (£) | Our Legal Fees (£) |
| 1 - 500,000 | 650.00 plus VAT |
| 500,001 - 750,000 | 850.00 plus VAT |
| 750,001 - 999,999 | 995.00 plus VAT |
| 1,000,000+ | 0.1% of the price |
You will also incur a one-off bank transfer fee of £30 + VAT
If your property is any of the following, the following charges apply:
| Shared Ownership | £200.00 + VAT |
| Leasehold | £200.00 + VAT |
| Transfer of Equity | £300.00 + VAT |
| Repayment of more than one mortgage | £75.00 + VAT |
You will also incur the following payments to third parties (Disbursements):
| Searches (approx.) | £300- £400 + VAT (only if your lender requires full searches) |
Land Registry fees:
All property purchases need to be registered at the Land Registry and they charge a fee for doing this. Their fee is dependent on the value of the property. You are able to work out the exact amount you will be charged via this link to the Land Registry’s fees calculator.
Please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely, however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances. We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.
We have taken all reasonable steps to ensure the price information set out on our website provides an accurate and realistic indication of the costs of obtaining certain legal advice today, but we may update the information at any time in the future.
Whilst we hope this information is helpful as an initial guide, we will provide you with a specific fee proposal and a copy of our standard terms of business when you instruct us to undertake work.
Costs for a transfer of equity
Before we commence with any transaction we will provide you with an estimate of the legal fees for your specific transaction.
| Property Value (£) | Our Legal Fees (£) |
| 1 - 999,999 | £1000 plus VAT |
| 1,000,000+ | 0.15% of the price |
You will also incur a one-off bank transfer fee of £30 + VAT
If your property is any of the following, the following charges apply:
| Has a current mortgage | £300.00 + VAT |
| Equity Release | £300.00 + VAT |
| Leasehold | £350.00 + VAT |
| Help to Buy equity loan | £300.00 + VAT |
| Shared Ownership | £200.00 + VAT |
| Freehold Management Company | £250 + VAT |
You will also incur the following payments to third parties (Disbursements):
| Completion Searches | (approx.) - £7 – £10 + VAT each |
Land Registry Fees:
All property purchases need to be registered at the Land Registry and they charge a fee for doing this. Their fee is dependent on the value of the property you are able to work out the exact amount you will be charged via link to the Land Registry’s fees calculator.
Please be aware that fees and disbursements may be subject to change during the course of the transaction as more information becomes available. This is unlikely, however, we will inform you if any work becomes necessary due to unforeseen complexities or a change in your requirements or circumstances. We will confirm to you the charges for such extra work before incurring the extra costs. Please note that such extra charges may apply even where a fixed fee has been agreed.
We have taken all reasonable steps to ensure the price information set out on our website provides an accurate and realistic indication of the costs of obtaining certain legal advice today, but we may update the information at any time in the future.
Whilst we hope this information is helpful as an initial guide, we will provide you with a specific fee proposal and a copy of our standard terms of business when you instruct us to undertake work.
Meet the Residential Property team
Natalie Claridge
Karmen Waldron
Matt Baker
Sophie Wade
Guy Goodhall
The key stages when selling a property
When selling a property there is a lot to think about; getting the right agent, handling valuations and juggling viewings can be incredibly time consuming and stressful. We believe in trying to take as much stress out of the legal part of the process as possible, fixed fees, regular communication and a friendly professional who knows you and your transaction are just some of the ways we help.
Stage 1: Instructions
Once the property is available for sale you will need to formalise instructions with us as soon as possible in order to reduce delay when an offer has been accepted. At that point we will write to you confirming our instructions, an estimate of fees and disbursements and our terms and conditions of business. We will also send our Client Information Form to you to complete. This will tell us details of any finance secured against the property and any deadlines imposed on the transaction.
You will also need to complete various forms that should give the buyer all the information they need to answer any questions they have regarding the property such as which fittings are included with the property, notice of any disputes, planning applications in the vicinity of the property, alterations carried out to the property during your ownership and any applicable service charges.
At this stage we will tell you the name and status of the person who will carry out the work together with details of their regulated supervisor.
Stage 2: Identity Checks
In order to confirm your identity and comply with the law on money laundering, we will need 1 form of photographic ID (driving licence or passport) and 2 utility bills/bank statements no more than 3 months old for proof of address (these must be originals and not printed from the internet).
We will discuss with you the best way to provide these at the time.
We ask for £50 on account and then our fees, agents fees and any mortgages are paid out of the sale monies on completion with any balance being dealt with in accordance with your instructions by either sending it to your account or transferring it to a related transaction.
Stage 3: Pre-Exchange
Once you have returned the signed Terms and Conditions and Client Information Form we will contact the seller’s solicitors to confirm instructions. Upon hearing from the buyer’s solicitors that they are instructed we will prepare draft contract documentation to include full title details of the property and send these to the buyer’s solicitors.
When the contract documents have been received by the buyer’s solicitors they will submit their application for searches and raise any enquiries on us as are necessary. We will review the costs estimate and revise if necessary providing you with updated information regarding any fees or disbursements in line with any changes.
We will respond to any buyers queries that we can and refer the rest to you for your replies. It is at this point, the contract and transfer are usually agreed and upon receiving confirmation that this has been approved we shall send them to you for signature in preparation for exchange of contracts. We will also obtain a draft redemption statement for any finance secured against the property and let you have a copy for your approval (if applicable).
Stage 4: Exchange of Contracts
Once completion dates have been agreed we will take your authority to exchange contracts and set the date of completion. We will apply for a final redemption statement from your mortgage lender (if applicable) calculated to the date of completion and prepare a completion statement for you setting out the financial position anticipated at the time of completion for you to check prior to completion
Stage 5: Completion
On the day of completion, funds will be transferred from your seller’s solicitors into our client account. Once we have received funds we will check with you that you have vacated the property and authorise key release with the agents. Any funds due to you on completion will either be transferred in accordance with your instructions once the agents have been paid and any other financial commitments we must pay on your behalf in relation to the sale. Under the terms of the contract, you must give vacant possession of the property between 12pm and 12pm.
Stage 6: Post-Completion
Once completion has taken place we will date the transfer deed which you will have signed at the outset and send this to your buyer’s solicitors. Any deeds and original documents relating to the property held on file will be sent to your buyer’s solicitors for them to in turn pass on to your buyers on completion. Your file will then be closed which will be held for 6 years.
The key stages of buying a property
Buying a new property can be very exciting, whether its your first home, a second home or a rental property, we are here to support you through the legal part of the whole process in as pain free way as possible.
Stage 1: Instructions
Once an offer has been accepted you will need to formalise instructions with us and with the agent to reduce delay. At that point we will write to you confirming our instructions, an estimate of fees and disbursements and our terms and conditions of business.
We will also send our Client Information Form to you to complete. This will tell us details such as any finance you are obtaining either by way of mortgage or gift, details of any adult occupiers who will reside at the property, and any deadlines imposed on the transaction. At this stage we will tell you the name and status of the person who will carry out the work, together with details of their regulated supervisor.
Stage 2: Identity Checks
In order to confirm your identity and comply with the law on money laundering, we will need 1 form of photographic ID (driving licence or passport) and 2 utility bills/bank statements no more than 3 months old for proof of address (these must be originals and not printed from the Internet).
We will discuss with you the best way to provide these at the time.
We ask for £300 on account at the outset to cover searches on your purchase and then everything else is payable at completion save for 10% deposit payable at exchange. Solicitors are obliged by the Law Society to verify the source of all funds received into their Client Account. We will ask you to provide documentation evidencing the source of your deposit funds and purchase monies.
If any financial contribution is to be made by a third party they will also need to provide us with evidence as to how the funds have been accumulated and over what period of time. We will also require their identification documents in the same way we requested yours at the outset. The position regarding the gift will need to be reported to any lender you may have for their authority to proceed.
Stage 3: Pre-Exchange
Once you have returned the signed Terms and Conditions and Client Information Form to us, the seller’s solicitors will issue draft contract documentation to include full title details of the property. We will review the title documents to ensure a marketable title and review the costs estimate and revise if necessary providing you with updated information regarding any fees or disbursements in line with any changes.
You will be notified that the documents have been received from the seller’s solicitors and, subject to your agreement, we will apply for the standard (and any recommended) conveyancing searches. Enquiries will be raised on the seller in relation to the property. Upon completion of our due diligence and once we consider the property is good and marketable and suitable security for your lender (if applicable) we will report to you on title, replies to enquiries and the results of our search applications.
We will ask you to review our report and raise any enquiries which you may have. Once you are satisfied and happy to proceed, you will need to sign the contract and any other documents required for signature and return these together with a 10% deposit in order for us to effect exchange of contracts once the chain (if any) is ready and a completion date has been agreed.
Stage 4: Exchange of Contracts
You will need to put in place your own buildings insurance, usually to take effect from the date of exchange of contracts (and not from the later completion date). The sum insured should be a sum equal to the full rebuild cost of the property plus the usual fees (architects etc.) i.e. not necessarily the purchase price. We will require a copy of the building insurance schedule before contracts are exchanged.
Stage 5: Pre-Completion
Any mortgage monies will be requested from your lender and we will also prepare final statements showing the balance due from you to complete. We will require funds to be in our account no later than 4pm on the working day prior to completion so that we are in a position to make the funds transfer to your seller’s solicitors as early as possible, this ensures the day of completion runs as smoothly as possible, especially where there are particularly long chains.
Stage 6: Completion
On the day of completion, funds will be transferred to your seller’s as early as we are able to. Upon receipt of the funds, the seller’s solicitors shall telephone the agents (if any) to confirm keys can be released to you as the new home owner.
The seller’s solicitors will telephone our office to confirm keys have been released and we shall in turn contact you to confirm completion has taken place and keys are available for collection. Under the terms of the contract, you are usually entitled to take possession of the property between 12pm and 12am.
Stage 7: Post-Completion
Once completion has taken place we will submit your SDLT return to HMRC and make any payment for SDLT which you may be liable for. On the day of completion the seller’s solicitors will send to us the transfer deed signed by their client which is the document effecting the transfer of ownership of the property from your sellers to you. Upon receipt of the transfer we will send it to the Land Registry electronically where they will in turn register the transfer of ownership and update the title. Once registration formalities have been completed the Land Registry will send to us evidence, which we will send on to you.
If you have purchased with a mortgage, we will also have sent to the Land Registry, with the transfer, the mortgage deed which would have been signed by you prior to exchange of contracts. This will secure the mortgage monies against the property on behalf of your lender. Your file will then be closed which will be held for 15 years. If you want we can arrange for any deeds to be held in storage. This service is free of charge.
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