SCALE OF FEES FOR CONVEYANCING MATTERS

PRICE OF PROPERTY	OUR FEES
£150,000 and below	£1000.00
£151,000 - £200,000	£1050.00
£201,000 - £250,000	£1150.00
£251,000 - £300,000	£1250.00
£301,000 - £350,000	£1350.00
£351,000 - £400,000	£1500.00
£401,000 - £500,000	£2,000.00
£501,000 - £650,000	£2,500.00
£651,000 - £750,000	£3,000.00
£751,000 - £850,000	£4,000.00
£851,000 - £999,999	£5,000.00
£1 Million plus	1% of purchase price

If you are buying with the assistance of a mortgage, we charge an additional fee of £195 plus VAT, assuming the mortgage is being provided by a high street lender. This includes:

·         Checking finances are in place to fund purchase and contact lender’s solicitors if needed

·         Go through conditions of mortgage offer with you, including a report on mortgage

Additional fees may apply in instances that fall outside of the normal conveyancing transaction. Please see Potential Additional Fee section below.

 Please note that for all new clients of the firm, we will conduct an electronic ID search for Anti Money Laundering compliance. The administrative fee for arranging these checks is £15 plus VAT.

 If we are arranging the transfer of funds electronically, we will charge a fee for our time involved in arranging each transfer, for example sending completion money to your seller’s solicitors on completion, the cost of this and the amount we pay to the bank for the transfer is £25 plus VAT per transfer.

Information on Estimated Fees

 The fee will reflect work involved in your transaction. Our fee assumes that:

 This is a normal conveyancing transaction and that no unforeseen matters arise, including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.

·         This is the assignment of an existing lease and not the grant of a new lease in leasehold matters.

·         The transaction is concluded in a timely manner and no unforeseen complication arises

·         All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

·         No indemnity policies are required. Additional disbursements may apply if indemnity policies are required

·         This work will be undertaken by our Stanmore office by a lawyer supported by various other junior members of the team. If you require a designated lawyer/ fee earner to deal with your transaction additional fees may apply to suit your needs and service requirements.

Likely disbursements and recharges/ expenses (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process)

·      Searches approximately £250 to £350 (plus VAT)

·       Land Registry Priority Searches £4 (no VAT)

·       Bankruptcy Searches – £2 per person purchasing (no VAT))

·       HM Land Registry Fee- this will depend on the purchase price of your property. You can calculate the amount you will need to pay by using HMLR’s website http://landregistry.data.gov.uk/fees-calculator.html

·       Stamp Duty Land Tax- this will depend upon the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Potential Additional Disbursements

In Leasehold matters we may also need to pay a fee to the Landlords Solicitors or Agents in respect of the Notice of Transfer/ Charge.

This cost varies from one property to the next, depending on the fees confirmed in the Lease/ agreed with the landlord. We will advise you of this cost; however this usually ranges between £25-£75 per Notice plus VAT.

 

In leasehold matters, your Lease may require a Deed of Covenant, depending on the terms of the Lease.

The Landlord/ Management Company/ Agent may charge a fee for registering this document with them on completion of your purchase.

We will advise you of this cost, if appropriate, however the cost could range between £75 to £200 plus VAT

 

In leasehold matters, it may be required, as a term of your lease that you require a Certificate of Compliance from the Landlord/ Managing Agent / Company.

The fee will be confirmed to you once we have reviewed the Lease and made enquiries with the Landlord/ Management Company/ Agent; however, the cost could range from £75 to £200 plus VAT.

You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents for your purchase.

Other disbursements may apply depending on the terms of your Lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s solicitors

Potential incidental Fees Atlantic Solicitors always provide clients with a fee estimate at the start of each new matter, therefore if you would like a bespoke estimate for your particular matter/ case please contact us to discuss. If your case involves unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. You should be aware that additional fees will apply in the following situations:   Acting for an additional lender   If your lender wishes for another legal representative to act for them   Administering Service Charge Retentions in leasehold matters   Administration Fees if you require your documents by post.   Approving a lease extension   Approval of a tenancy Agreement   Additional bank transfer costs (per transfer)   Administration fees for unpaid cheques   Administration costs for cheques stopped at client request   Completion required within 7 days of exchange of contracts   Dealing with share of freehold   Dealing with sitting tenants or occupiers   Dealing with third party lawyers, e.g. in a matrimonial dispute   Dealing with trust property   Deed of Covenant   Deed of Easement   Deed of Gift- per gift   Deed of Grant or variation   Deed of Guarantee   Drafting Statutory Declaration or Statement of Truth   File Retrieval after completion from storage   General Power of Attorney   Investigating bankruptcy Entry   Land Registry Restriction (each)   Leasehold Property supplement   Letter of Postponement or Deed of Postponement   Liaising with Trustee in Bankruptcy   Mutual Deed of Covenant for flying freehold   Obtaining Indemnity Insurance (each)   Purchase at an undervalue   Registration at Companies House   Redemption of Mortgage   SDLT supplemental fee   Shared Equity/ Help to Buy   Shared Ownership   Simultaneous exchange and completion   Staircasing   Unregistered land   Voluntary First Registration for a sale property

VAT will be chargeable in addition on all fees quoted. Please visit the government website for more information on VAT <https://www.gov.uk/vat-rates>

This list is not exhaustive, and if there are additional fees that you may incur we will inform you in advance. In addition to our legal fees for some items above  you may incur an associated disbursement, such as additional Land Registry Fees, or Landlord Fees (if appropriate). We will inform you accordingly.

If you are ever in need of a freehold purchase solicitors London, you can get in touch with Atlantic Solicitors.