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Fees

To obtain an estimate of our pricing please refer to the table shown further below. However it is best to call so we can check we are able to represent you and discuss your precise requirements.

The fees quoted below are a guide only and cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Freehold Sale/Purchase up to £849,999
Fees Range from £950 plus VAT to £1295 plus VAT
Freehold Sale/Purchase over £850,000
Please call or email us for a bespoke quotation.

Leasehold Sale/Purchase up to £849,999
Fees range from £1,050 plus VAT to £1495 plus VAT
Leasehold Sale/Purchase over £850,000
Please call or email us for a bespoke quotation.

Re-mortgage up to £499,999
Fees range from £375 plus VAT to £695 plus VAT
Re-mortgage over £500,000
Please call or email us for a bespoke quotation.

The figures quoted above (which include VAT where chargeable), assume a straightforward transaction without unforeseen complexity or issues. If the matter becomes complex, there will be an additional fee, examples of which include, but are not limited to:

  • Where your mortgage lender instructs its own solicitor
  • Where your lease purchase includes the purchase of a share of the freehold
  • Where a lease extension is involved
  • Where freeholder consent for any reason may be required
  • Where there is a perceived defect in title
  • If leasehold, that it is the transfer of an existing lease and not the grant of a new lease
  • Shared ownership transactions
  • Missing or absentee landlords
  • Compulsory Purchase
  • Where a transaction is required to be expedited
  • Contract races
  • Lock out/exclusivity agreements

Obviously, all cases are different and we will try our best to inform you as soon as we become aware of any feature that might have an impact on the quoted fee

Disbursements (payable to third party)

Disbursements are costs (i.e. expenses), related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

The following comprise the usual disbursements:

  • Bank Transfer fee per payment £40.00 plus VAT
  • Search fees – normally £250
  • Stamp Duty Land Tax – this depends upon a variety of factors. A calculation is available through the HMRC website
  • Land Registry fee – current fees are available through the Land Registry website
  • Managing Agents pack on sale of leasehold – this can only be ascertained on receipt of documents but the average charge is approximately £360.00 including VAT, but can vary depending on the Managing Agent or Freeholder
  • Notice and compliance fees on leasehold purchases – these can only be ascertained during the transaction but typically can range between £240.00 to £480.00 including VAT
  • Bankruptcy search fee £2.00
  • Land Registry search fee £3.00

How long will my property transaction take?

How long it will take from offer until completion will depend on a number of factors. The average process takes between 6 to 8 weeks.

It can be quicker or longer, depending on the number of parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage offer in place, it could take 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 to 3 months. In such a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through the conditions of the mortgage offer with you
  • Send final Report to you with the contract for signature
  • Agree the completion date (date from which you own the property) with the sellers’ solicitor
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from the lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

Contact Details

Bentleys Solicitors
182 Hoe Street
London  
E17 4QH

DX 32004 Walthamstow
Tel: 020 8521 8751
Fax: 020 8520 5069

EMAIL
info@bentleyssolicitors.co.uk

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