In calculating an average price, we have assumed a sale or purchase price of between £200,000 and £250,000 and a mortgage loan of between £150,000 and £200,000.
There will be additional costs on top. These are fees and charges that may form part of the process, such as referral fees (if any), notice & deeds charges, search fees, land registry fees, freeholder information packs, bank charges and Stamp Duty Land Tax (SDLT)or Land Transfer Tax (LTT) (in Wales). They are likely to be £2,985 in total, including VAT where relevant.
In calculating the additional costs above we have assumed that we are not acting for a first time buyer and the purchaser does not own an interest in another dwelling and the property price is £250,000.
SDLT and LTT does not apply to sales and remortgage and will only apply to certain purchases.
You may also be responsible for paying the legal costs of your lender. These are likely to be £100 + VAT and are included in the average price above.
These fees assume that the transaction is of a standard nature and has no unforeseen issues that may lengthen the process or increase the costs.
Estimated average prices are based on recent instructions. The actual cost to you will depend upon a number of factors which we will discuss with you before the transaction commences.
Our costs are based upon our average fixed fee charge but we may occasionally introduce an hourly rate of £195 + VAT per hour if appropriate, which can vary and will be discussed with you if necessary.
Our price takes account of the work involved, the transactional risk, the deadlines involved, the benefit of our professional insurance cover and a number of other factors which may be relevant in the conveyancing process.
Our people involved in doing the work will include:
Peter Watkin (Taunton), Judith Mills, Georgia Cavill (Bridgwater), David Chapman (Minehead), Andrea Parsons (Martock), Barbara White, Joanna Shortland (Yeovil), Nigel Mills, Gary Voysey, Abbi Tow (Exeter)
Find out a bit more about them here.
The work we will carry out involves the following (if relevant):
- Checking that your financial arrangements are in place
- Obtaining Land Registry entries and drafting a contract for sale (approximately 1 week)
- Completing incidental information re fixtures and fittings and other inclusions and exclusions (approximately 1 -2 weeks)
- Receiving contracts and other property information (approximately 1 week)
- Undertaking searches and enquiries on the property (immediately)
- Raising requisitions on title and other issues (approximately 2-3 weeks)
- Preparing for exchange and completion (approximately 1 week)
- Dealing with the payment of SDLT (approximately 1 week post completion)
- Dealing with Land Registry applications (approximately 1 week post completion)
- Liaison with your lenders throughout
- Overall control of the transaction throughout, including liaison with estate agents, removal firms etc.
Our fees do not, of course, include any external costs and charges that you may incur as part of the process (e.g. estate agents commission, removal costs, environmental remediation costs etc.)
Get in touch if you wish to instruct us on your matter.
PLEASE NOTE We also undertake:
Commercial property transactions
New build properties
Lettings (landlord and tenant)
Transfers of equity on a divorce