Residential Property Estimate of Costs
Buying a house is one of the most important financial decisions most individuals or families make and we at Waters & Co., have an excellent reputation for providing a comprehensive and cost effective solution to assist you. We offer traditional values of excellent client care service coupled with a modern approach.
We are a small team of highly qualified and experienced legal experts who will oversee your transaction from start to finish, so you will have dedicated staff when you call rather than going through a general call centre where you may be known only by a file reference! Your matter will be dealt with by either Teresa Waters, Amanda Murtagh or VL Bruce Waters.
We pride ourselves in offering bespoke and transparent fees, at the outset of a transaction, so there are no nasty shocks at the end and we do not hide additional fees in pages of small print, as some do. The below are typical examples of conveyancing fees but, if you provide us with further and better information, we will prepare a bespoke estimate for your particular transaction.
We offer an efficient and friendly service and would invite you to contact us for a specific estimate based upon your actual property transaction as the below costings are only typical examples.
Our residential conveyancing department includes the following services although this is not an exhaustive list:
Purchase and sale.
Right to buy.
Freehold purchase.
Lease extension.
Transfer of equity.
Re-mortgages.
Typical example of the costs for the sale of a registered freehold house, valued at less than £150,000 :
Conveyancing fee (including representing one mortgage company) £900.00 plus VAT.
Add disbursements*:
Land Registry Official Copies approximately £6.00.
Telegraphic transfer fee to redeem a mortgage £30.00 including VAT per transfer.
Money Laundering checks £24.00 including VAT per person.
Total £1,140.00 including VAT and specified disbursements.
Significant savings can be made if you decide to use our combined estate agency and legal services for your sale as the estate agency fee includes the legal work on your sale resulting in a very competitively priced way to sell your house. A market appraisal would need to be booked to establish the costs for this combined service.
Typical example of the costs for the purchase of a registered freehold house, valued at less than £150,000 (not new build or leasehold or where a management company involved). Our fees cover all routine work required to purchase a property, including representing your mortgage company, if any, checking the legal title, carrying out basic searches and registering the property at Land Registry. The fees do not cover any title rectification or unexpected complexities arising, statutory declarations, or any insurance indemnity insurance policies that may be needed.
Conveyancing fee Not less than £900.00 plus 20% vat and no more than £1,200.00 plus 20% vat
Disbursements*:
Search package currently £211.20 including vat, but may vary from time to time. Extra cost if mining search or any other search is required eg HS2. The search package includes a local search, water search, a premium environmental search which includes energy, infrastructure, ground stability and flood.
HM Land Registry fee – based on a basic scale for an electronic registration (not a first registration) of £100.00 no VAT.
Electronic bank transfer of £30.00 including VAT.
Money Laundering checks £24.00 including VAT per person.
OS1 search £3.00 per title number.
Bankruptcy search £2.00 per person.
Stamp Duty based on SDLT Calculator at the time of transaction and whether first time buyer or second property.
Estimated total Not less than £1450.20 and no more than £1,810.20 including vat plus SDLT.
*Disbursements are costs related to your matter that are payable to third parties. Lease disbursements will be specified within individual leases. Management charges for Leasehold Sales Packs, on a leasehold sale, are set individually by the management companies.
For more information see our property guides headed “Seller’s Guide”, “Buyer’s Guide” and “Stamp Duty Guide”
PLEASE TELEPHONE FOR A BESPOKE CALCULATION.
PLEASE TELEPHONE FOR A BESPOKE CALCULATION IN RESPECT OF A LEASEHOLD SALE OR PURCHASE OR A NEW BUILD PURCHASE.