Richards Thomas Solicitors understand that buying and selling property can be a very stressful time and our experienced staff can help make the transaction run as efficiently as possible, whether you are buying or selling residential property, mortgaging or re-mortgaging, buying or selling a commercial property, or granting or entering into a lease or tenancy. We aim to make the transaction as stress free as possible whilst protecting your interest throughout.
Our residential conveyancing department endeavour to make the complicated conveyancing process as simple and stress free as possible by keeping you fully informed and updated throughout. Richards Thomas Solicitors pride ourselves on being able adapt our advice to your individual needs, ensuring the highest quality of service.
For residential conveyancing matters our charges are based on a fixed fee basis depending on the value of the property involved. Our costs cover all aspects of the residential conveyancing transaction, including attending to registration of title at HM Land Registry and submission and payment of any Land Transaction Tax or Stamp Duty Land Tax payable.
Our fixed fee costs for residential property transactions are as follows:
PRICE SALE PURCHASE
£0.00 – £80,000.00 £420.00 (plus VAT) £450.00 (plus VAT)
£80,001.00 – £125,000.00 £445.00 (plus VAT) £500.00 (plus VAT)
£125,001.00 – £200,000.00 £450.00 (plus VAT) £525.00 (plus VAT)
£200,001.00 – £300,000.00 £540.00 (plus VAT) £600.00 (plus VAT)
£300,001.00 – £400,000.00 £600.00 (plus VAT) £625.00 (plus VAT)
£400,001.00 – £500,000.00 £675.00 (plus VAT) £750.00 (plus VAT)
£500,001.00 + Costs to be agreed on application
Leasehold properties require our residential conveyancing department to peruse, inspect and draft additional documentation in the sale and purchase of Leasehold properties, as such we charge an additional £100.00 plus VAT on top of the fees quoted above for each individual transaction.
New Build Properties:
New build properties require our residential conveyancing department to peruse and inspect a large volume of documentation and due to the added work required in the purchase of new build properties, we charge an additional £100.00 plus VAT on top of the fees quoted above for each individual transaction.
In addition to the above stated costs, there will be other fees which you may have to pay, such as electronic anti-money laundering identity checks, search fees, HM Land registry fees, Land Transaction Tax if the property is in Wales, Stamp Duty Land Tax if the property is in England, copies of HM Land Registry deeds and documents, copies of planning consents and building regulation certificates, and indemnity policies. We will provide you with an estimate of these costs at the beginning of the transaction and will update you as necessary as the transaction progresses.
Searches are required when purchasing a residential property with the aid of mortgage finance. The cost of search fees varies depending on the Local Authority and Water Authority to where the property is located. Which searches are required to be undertaken will depend on each individual transaction and we will advise you as to which searches will be required for your particular transaction. We will be able to give you a more accurate estimate of the cost of the searches for your particular transaction when we are first instructed.
Land Transaction Tax and Stamp Duty Land Tax are dependant on the purchase price of the property and whether you own any other property, within or outside of the United Kingdom. We will be able to provide a more accurate estimate of the amount of Land Transaction Tax or Stamp Duty Land Tax payable as part of the transaction when we are first instructed.
There may be other additional costs which relate to the particular property transaction and we will advise you of these additional costs when we are first instructed or when they become known to us.
Our fixed costs should cover the work involved in each particular transaction. However, in some circumstances, the transaction may become more complicated than was anticipated when we were first instructed. This could be due to issues with the title of the property, missing planning permissions or building regulations consents, or if there are issues with covenants affecting title or rights of access. In these circumstances, we will notify you of the potential issues and agree costs to progress the transaction. If your transaction does not proceed to completion, we are entitled to charge you for the work undertaken on the transaction by us, and we will advise you of these costs at the time.
It is very hard to give an exact estimate as to the timescales it will take to complete each matter. Each transaction depends on its own circumstances and can be affected by a variety of factors but generally most transactions take between 8 to 10 weeks from instruction to completion, however we will keep you informed as to the likely timescales as and when we are able to.