Whether you are buying or selling your home or are a landlord or a tenant of a commercial property, you have the right to choose your own solicitor.
If you have been recommended a firm of solicitors by another service provider, such as an estate agent, mortgage lender or mortgage broker, you may wish to consider the following before making up your mind:
Our Pricing and Transparency - Residential Conveyancing
The Solicitors Regulation Authority published new rules that make it mandatory for all regulated firms of solicitors to publish information on the prices they charge. In order to comply with these rules, we set out in this section the minimum price we charge and service we provide. We would like to be clear about these so as to avoid any misunderstandings.
We would like to ensure that our clients have as much as possible information to help them make an informed choice before they instruct us to act. It is important for us that our clients understand as soon as possible what legal costs and disbursements they may have to pay for our legal services.
We believe in direct personal contact with our clients, simplicity and honesty. Whilst our average conveyancing cost of service is £1,500 (plus VAT at the rate of 20%) per transaction, one size does not fit all. We do not use an online price generator and encourage all our clients to speak to Michael Shpaizer on 020 8944 0877 for a freindly, free and unobligated detailed information on our costs and disbursements. Michael will take the time to discuss and understand your specific requirements for the proposed transaction and he will then follow in writing to you with a detailed quote in a format that is accurate and easy for you to understand. The quote will specify what prices include VAT and what not. The quote will specify exactly what services are included within the price. We usually charge a fixed price per transaction and in the event that you require additional work, our hourly rate is £195 (plus VAT at the rate of 20%).
We set out below an example for purchase of a freehold residential property
Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with 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.
Our fees and disbursements:
The cost of legal fee starts from £1,450 (plus VAT at the rate of 20%) which includes acting on behalf of your mortgage lender
The costs of Local authority search, Drainage search and Environmental search depends on the locality as different local authorities charge between £200 and £500 including any VAT
The costs of Land Registry fee ranges from £80 to £910 as it depends on the actual purchase price and VAT is not charged.
Electronic money transfer fee £35 (plus VAT at the rate of 20%)
Disbursements are costs 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.
Stamp Duty or Land Tax (on purchase) depends on the purchase price of your property. We can calculate the exact amount you will need to pay once we discuss and understand your position (for example whether or not you are a first time buyer or at the end of the day of the purchase you will have an interest in more than one property, etc) or you can calculate by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website.
We will estimate the total costs and give you a clear understanding of the total cost of the transaction and the full funds you will need to complete it.
How long will your house purchase take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes about 6 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take longer, between 10 and 12 weeks. 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, we set out below some key stages including:
We set out below an example for purchase of a leasehold residential property
Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with 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.
Our fees and disbursements:
The cost of legal fee starts from £1,450 (plus VAT at the rate of 20%) which includes acting on behalf of your mortgage lender
The costs of Local authority search, Drainage search and Environmental search depends on the locality as different local authorities charge between £200 and £500 including any VAT
The costs of Land Registry fee ranges from £80 to £910 as it depends on the actual purchase price and VAT is not charged.
Electronic money transfer fee £35 (plus VAT at the rate of 20%)
Disbursements are costs 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.
Anticipated Disbursements:
These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we received and considered the specific documents relating to your proposed purchase.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will let you know the exact amount of ground rent and the anticipated service charge as soon as we receive this information.
Stamp Duty or Land Tax (on purchase) depends on the purchase price of your property. We can calculate the exact amount you will need to pay once we discuss and understand your position (for example whether or not you are a first time buyer or at the end of the day of the purchase you will have an interest in more than one property, etc) or you can calculate by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website.
We will estimate the total costs and give you a clear understanding of the total cost of the transaction and the full funds you will need to complete it.
How long will your house purchase take from your offer being accepted until you can move into your house will depend on a number of factors.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take longer, between 10 and 12 weeks. 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, we set out below some key stages including:
Our fee assumes that: