Chelsea 0207 228 2020

Knightsbridge 0207 095 0930

Transparency Policy

SRA Transparency Policy

The Solicitors Regulation Authority (SRA) Transparency Rules requires us, as an authorised firm, to provide price and service information in relation to certain types of legal services. 

The services provided by us that are covered by these rules are conveyancing of residential property. 

Fees

Our fees cover all of the work required to complete the matter, including taking initial instruction to dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if appropriate. Depending upon the [complexity of the matter and level of experience] required to complete the matter. Please see below our calculator which will include the following:

Conveyancer’s fees and disbursements

 

Stamp Duty or Land Tax (on purchase)

Calculator

As you enter information in the form, the costs will be automatically calculated at the bottom of the Residential Property page. 

Online quote calculator for conveyancing matters build questions to find out the following information:

 

  • value of the property
  • first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • first registration of title
  • whether a mortgage or not, or Islamic mortgage
  • in purchase cases, whether primary residence, buy to let or second/holiday home
  • multiple owners
  • shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • purchase under right to buy
  • purchase at auction
  • property has been repossessed

NB: This list is not intended to be exhaustive. The important point is that the information we do request generate the total cost. This total includes any disbursements (save for SDLT/LTT) in the total cost quoted to consumers.

 

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of the property. You can calculate the amount you will need to pay if your property is in England on HMRC’s website: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax and in Wales on the Welsh Revenue Authority website at https://lttcalculator.wra.gov.wales

VAT is currently charged at 20%. 

Examples of factors that could make a matter more complex as follows: 

(1) If you are selling then difficulties incurred by the buyer in obtaining the mortgage 

(2) Slow responses from the buyers and buyer solicitors

(3) The buyer having a related sale 

(4) Difficulties if you have a related sale or purchase and if there is a chain then delays in the chain

(5) If the solicitor for the buyer is slow in responding 

(6) If you are buying then difficulties in you obtaining a mortgage 

Difficulties if you have a related sale or purchase and if there is a chain then delays in the chain

Disbursements 

Disbursements are costs related to your matter that are payable to third parties, such as search fees, land registry fees etc. We handle the payment of the disbursements on your behalf and we collect these costs from you to ensure a smoother process.

Certain disbursements will be set out in the relevant property documents. The disbursements that we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the property. We will update you on the specific fees upon receipt and review of the property documents from the seller’s solicitors.

How long will my matter take? 

This depends on a number of factors. The average time is between 6 – 8 weeks. It can be quicker or slower, depending on the parties in the chain, complexity of the matter and circumstances. For example, if you are a first time buyer purchasing with a mortgage, it could take 6 – 8 weeks approximately. However, if you are buying a property without a mortgage, it may be quicker. 

The fees above cover the following key stages of work for an average purchase of freehold residential property:

 

  • 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 conditions of mortgage offer with you
  • Send final contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

The stages above are indicative only. Additional fees may apply if more work is required.

For the purchase of a leasehold residential property, our fees cover all the work required to complete the purchase, including dealing with registration at the land registry and dealing with the payment of stamp duty. 

 

Conveyancer’s fees and disbursements

 

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as search fees, land registry fees etc. We handle the payment of the disbursements on your behalf and we collect these costs from you to ensure a smoother process.

Certain disbursements will be set out in the relevant property documents. The disbursements that we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the property. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

 

  • HM Land Registry fee
  • Search fees
  • VAT on search fees
  • Electronic money transfer fee
  • VAT 
  • Subtotal

Anticipated Disbursements*

 

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. 
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. 
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. 
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £150 – £200 if required and would be a separate disbursement.

*These fees vary from property to property and can be significantly more than the estimate ranges given above. We can give you an accurate figure once we have reviewed of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

 

Stamp Duty Land Tax

This depends on the purchase price of the property. You can calculate the amount you will need to pay, if your property is in England on HMRC’s website: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax and in Wales on the Welsh Revenue Authority website at https://lttcalculator.wra.gov.wales

(This is an indicative only of the total cost of the transaction and the funds you will need to have ready to complete the purchase).

The exact stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some key stages:

 

  • 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 conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

 

How long will my house purchase take?

This depends on a number of factors. The average process takes between 6 – 8 weeks, subject to no difficulties with any mortgage which you are applying for. It can be quicker or slower, depending on the parties in the chain. For example, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 1 – 3 months, and additional charges will apply.

Our fees assume that:

 

  1. this is a standard 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
  2. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

You may wish to use an online quote calculator to calculate the cost of conveyancing of your property. You may wish to consider the following non-exhaustive list: 

 

  • value of the property
  • first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • first registration of title
  • whether a mortgage or not, or Islamic mortgage
  • in purchase cases, whether primary residence, buy to let or second/holiday home
  • multiple owners
  • shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • purchase under right to buy
  • purchase at auction
  • property has been repossessed

Our team 

 

Our team is qualified to advise on the conveyancing of residential property and all matters are supervised by one of the senior members of the firm whose details are below:

 

Mr Leon Joseph Kaye

 

Partner

 

Free Hold and Lease Hold Conveyancing Transactions and Other Property Work

Sehar Ayyub

 

Partner

 

Free Hold and Lease Hold Conveyancing Transactions and Other Property Work

Laura Mghabghab

 

Associate

 

Free Hold and Lease Hold Conveyancing Transactions and Other Property Work

Ozgen Aydemir

 

Solicitor

 

Free Hold and Lease Hold Conveyancing Transactions and Other Property Work