As a body authorised by the Solicitors Regulation Authority (SRA), our business is built on strong client relationships and pricing is a key aspect of this.
We will agree at the outset of our engagement a pricing proposal which is transparent and competitive.
Below he have laid out some pricing and service information for individual clients in the specific areas outlined. If your matter does not fall within these areas, please do not hesitate to contact us for a more detailed discussion.
Residential Conveyancing Sale and Purchase Fees for a freehold property:
Price | Fee (exclusive of VAT) |
£0 – £100,000 | £750.00 |
£100,001 – £250,000 | £800.00 |
£250,001 – £500,000 | £900.00 |
£500,001 – £750,000 | |
£750,001 – £1,000,000 | £1250.00 |
Over £1,000,000 | By quote once all details of the transaction are known to us |
Additional Fixed Charges (Exclusive of VAT):
Item | Fee (exlusive of VAT) |
Unregistered Title | £150.00 |
Leasehold Title | £150.00 |
New Build Property | £150.00 |
Help to Buy ISA | £50.00 (per ISA) |
Help to Buy Equity Mortgage | £350.00 |
Arranging Bespoke Indemnity Insurance Policy | £75.00 |
Land Transaction Return Preparation Fee | £75.00 |
The sale transaction fee includes:
- Preparing and supplying a sales pack incorporating a draft contract, title documents and protocol forms.
- Agreeing contract and transfer documentation.
- Answering additional enquires from the buyer’s solicitors.
- If relating to a leasehold property, obtaining the management information pack and freeholder pack and providing them to the buyer’s solicitors.
The purchase transaction fee includes:
- Considering the sales pack provided by the seller’s solicitors.
- Investigating the title and reporting to you.
- Commissioning searches and advising on the results.
- Raising appropriate enquiries.
- Agreeing contract and transfer documentation.
- Reviewing a mortgage offer and reporting to the lender (if appropriate).
- Exchanging contracts and completing transfer.
- Filing the stamp duty or land transaction return for you (excludes providing additional tax advice).
- Registration at HM Land Registry.
- For joint purchasers, we advise on the ownership options of joint tenants and tenants in common.
What our fees do not include:
- Tax advice, including advice if there is an unusual or non-standard Stamp Duty situation.
- Advice not covered in the points listed above.
- Advice in respect of any jurisdiction other than England or Wales.
Issues and Circumstances that can give rise to additional fees
- Defective title issues such as a seller not owning land that they are in possession of, no legal easement to gain access to a property, missing service rights, breaches of restrictive covenants and boundary issues.
- Building works carried out without the relevant consents e.g. planning permission, building regulations approval, listed buildings consent, extension built over public sewers.
- Properties involved in disputes such as neighbour disputes or party wall issues.
- Issues with leases e.g. defective leases that need correcting, short term leases that need to be extended, ground rent issues, lease for solar panels.
- Issues revealed by searches such as enforcement notices, compulsory purchase orders and contaminated land.
- Work liaising with separate lender’s lawyers where we, for some reason, are not instructed as panel solicitors for the lender.
Where we identify an issue such as the above, we will let you know as soon as possible and will have a discussion about the likely costs involved to resolve the issue. Additional costs will be based on the hourly rates of the fee earners involved in the transaction. These will be confirmed in the engagement letter/client care letter.
How long will a property sale or purchase take?
The average transaction takes between 6 to 8 weeks from when the contract pack is sent or received until exchange of contracts. It can be quicker or slower, depending on the parties in the chain and mortgage lenders. We will aim to progress the transaction as quickly as you want us to so any delays will usually only be as a result of third parties or factors outside our control. A leasehold transaction may also take longer due to the involvement of third parties such as managing agents and freeholders who are required to provide information.
When we review our fees if the matter has become protracted
We review our fees 12 weeks after the contract pack has been issued on a sale transaction and 12 weeks after the contract pack has been received on a purchase transaction. You will note from the paragraph above that this means that the transaction is taking longer than usual i.e. it has become protracted. At the 12 week point we will have a discussion with you about any increased costs to see the transaction through to completion. Additional costs will be based on the hourly rates of the fee earners involved with the transaction. See above.
Aborted Transactions
For transactions that do not complete we charge based on the work done so if, for example, we have done half the work, we will charge half the agreed fixed fee.
Referral fees
We do not pay referral fees to introducers of work such as estate agents and financial advisers.
Remortgages
For remortgages we agree a fee when we have discussed the transaction with you but generally our fees will be £450.00 plus VAT.
Disbursements are costs related to a legal transaction that are payable to third parties.
Disbursements relating to sales:
HM Land Registry documents | from £10.00 to £50.00 depending on the property and how many relevant documents there are |
Management Information Pack (for a leasehold sale) | to be confirmed by the freeholder/managing agent. These can sometimes total several hundred pounds, especially if 2 packs are required and such costs will be payable in advance once the client provides the funds. |
Disbursements relating to purchases:
Search pack | £250.00 – £500 depending on the area |
HM Land Registry documents and searches | from £10.00 – £50.00 depending on the property |
HM Land Registry Fees – https://www.gov.uk/guidance/hm-land-registry-registration-services-fees | In some circumstances, a discount on a dealing is available as a result of using the HM Land Registry portal |
Stamp Duty Land Tax where the property is in England – https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
Land Transaction Tax where the property is in Wales – https://beta.gov.wales/land-transaction-tax-calculator
Notice of leasehold assignment fee (leasehold only) – variable depending on what is stated in the lease and the requirements of the freeholder/managing agent. If applicable, these will be confirmed when we receive the management information pack.
Deed of Covenant and compliance certificate fees – sometimes payable on properties where there is a management company or managing agent involved. If applicable, these will be confirmed when we receive the management information pack.
Disbursements relating to remortgages
Search pack – £250.00 to £500.00 depending on the area or if the lender will accept search insurance instead then the cost is likely to be much lower.
HM Land Registry documents and searches – from £10.00 to £50.00 depending on the property.
HM Land Registry Fees – https://www.gov.uk/guidance/hm-land-registry-registration-services-fees Please note our comment re discounted fees above.
A notice fee may be payable on a leasehold property as referred to in the list of purchase disbursements and there may occasionally be fees if there is a restriction on the title requiring notice or consent on a remortgage.
Please note that the above lists are not exhaustive.
Contact Us Today
For a free initial discussion about your individual circumstances, please contact us below.
To speak to our Commercial Property team, please call us on 029 2048 2444 or email us at info@mandmsolicitors.co.uk.
We can assist wherever you are based and have offices in Cardiff.