Residential Property Fees.

At Fletcher Day, your Residential Property matter will be handled by a qualified solicitor who may receive assistance from paralegals within our department. Regardless of who works on your matter, they will be supervised by Jude Fletcher, Senior Partner and Head of Residential Property. For more detailed information about the team members who may handle your matter, please follow the relevant links on this page. Our Residential Property team includes: Jude FletcherGary NelsonAmanda HodgsonYan HuiRonak Bastani and Paul Catterall.

What is Included

Purchase or Sale:

Our fees cover all the transactional work required to complete the purchase of your property, including but not limited to:

  • Reviewing a land registry title of the property and, if applicable, a lease
  • Conducting property searches
  • Liaising with a seller’s solicitors on enquiries regarding the property documents
  • Reporting on the documents and findings
  • Exchanging contracts
  • Calculating funds due
  • Completing the matter which includes sending completion funds
  • Completing land registry registration application
  • Completing a stamp duty return and dealing with the stamp duty payment

Our fees cover all the transactional work required to complete the sale of your property, including but not limited to:

  • Assisting in preparation of the seller’s information forms
  • Obtaining document pack from landlord or managing agents, if applicable
  • Liaising with a buyer’s solicitors on sale enquiries
  • Distributing sale proceeds and repaying any outstanding mortgages

Our fees cover all the transactional work required to complete a standard remortgage of your property, including but not limited to:

  • Reviewing a land registry title of the property and, if applicable, a lease
  • Obtaining document pack from landlord or managing agents, if applicable
  • Raising enquiries relating to the property
  • Reviewing conditions of a mortgage offer
  • Obtaining mortgage advance, distributing funds and repaying any outstanding mortgages
  • Registering a new charge at the land registry

What is Excluded

These services are not included in our standard conveyancing fees and will incur additional charges:

  • Transactions with higher complexity
  • Where a transaction involves a bridging loan or other form of non-standard financing
  • New build or off-plan purchases
  • Grants of new lease
  • Where the legal title is defective
  • Where the property is unregistered in part or in full
  • Where the matter becomes protracted and unforeseen complication arise
  • Urgent transactions requiring urgent exchange of contracts and/or completion
  • One or more parties to the transaction are not co-operative and there is unreasonable delay from third parties providing documentation
  • Other circumstances unforeseen when the quote is provided to you
  • Complicated identification checks, for example if the borrower is a foreign company
  • Preparing exclusivity agreements

Theses services are not included in our conveyancing fee, but can be provided by other experts (internal or third-party):

  • A physical inspection of the property and its contents
  • Specialist Stamp Duty Land Tax advice
  • Advice on price, valuation and terms of any finance
  • Independent legal advice that may be required by your lender
  • Arranging finance and insurance
  • Extending any lease or enfranchising
  • Where the borrower is a company and a personal guarantee is required

Our Fees

Purchase or Sale Fees:

PURCHASE OR SALE VALUERANGE OF CHARGES*
Up to £1M£1,500 to £2,500 + VAT
£1M up to £2M£2,500 to £4,500 + VAT
£2M and over0.2% – 0.25% of the transaction value +VAT
*If the property is purchased with a mortgage, we charge an additional fee for securing the mortgage; this can range from £250 – £1000 depending on the value of the property.
*VAT will be payable in addition to all fees quoted above.

Mortgage & Re-Mortgage Fees:

FREEHOLDLEASEHOLDNEW BUILD
0.25% of loan amount*0.3% of loan amount*0.35% of loan amount*
*Our fee will be a minimum of £900 plus VAT.
*VAT will be payable in addition to all fees quoted above.

Disbursements and handling fees

Purchase transaction:

  • There is a handling charge of £30 plus VAT for each telegraphic transfer and £7.60 plus VAT for each online identification check carried out.
  • There is an online identification check for international clients only which typically costs between £15 – £50 plus VAT per check.
  • Property search fees (approx.): £350 plus VAT
  • Land Registry registration fees: This depends on the type of transaction and the purchase price of your property. Further information can be obtained from the Land Registry website (https://www.gov.uk/guidance/hm-land-registry-registration-services-fees). This does not attract VAT.
  • Stamp Duty Land Tax: This depends on the type of transaction, the purchase price of your property and also your personal circumstances. 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). This does not attract VAT.
  • Landlord’s notice fee(s): This is payable whether the property being purchased is leasehold and the amount (and any VAT) payable will depend on what is required by the landlord or their agents.
  • Priority search fee: £3 per title
  • Bankruptcy search fee: £2 per name

Sale and re-finance transactions:

  • There is a handling charge of £30 plus VAT for each telegraphic transfer and £7.60 plus VAT for each online identification check carried out
  • Online identification check for international clients only and typically costs between £15 – £50 plus VAT per check
  • Land Registry official copies (approx.£3 per document): This depends on the number of documents revealed in the title of the property you are selling but will typically incur a cost of £6 – £12. This does not attract VAT.
  • Leasehold management pack: This is only required where the transaction is leasehold and the amount (and any VAT) payable will depend on what is required by the landlord or their agents.
  • Please note that unexpected costs may be required during the course of a transaction (eg. indemnity insurance, additional searches, etc.).

Timescale

Due to the nature of conveyancing it is difficult to provide an exact timescale for your matter. On average a sale or purchase transaction could take between 4 and 12 weeks however this depends on several factors. For example:

  • the number of transactions in the chain
  • whether you require a mortgage
  • the speed at which search results are returned
  • how quickly parties communicate with each other and
  • the complexity of the transaction.

These are all factors which will affect the speed at which exchange of contracts and completion take place. As your matter progresses we will endeavour to update you with timescales for the next steps as they become clearer.