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Property: Residential & Commercial Conveyancing

Property transactions in the UK and indeed worldwide can be complex but at Oasis Solicitors, we are equipped to make the process simple.

Private individuals and businesses benefit from our practical and professional advice whatever the nature, scale or complexity of the transaction.  Industry awareness, pragmatism and foresight are among our skills and our experience will ensure your transaction reaches completion quickly and with minimum fuss and expense.

PROPERTY - FULL RANGE OF ADVICE AREAS:

  • Purchase and Sale of Property
  • Mortgage and Remortgage
  • Transfers of Equity
  • Lease of Business Premises
  • Agreement for Lease
  • Easements and Covenants
  • Residential Tenancies
  • Leasehold enfranchisement
  • Lease Extension
  • Options to Purchase
property purchase

RESIDENTIAL CONVEYANCING - FEE ESTIMATE

Purchase of a freehold residential property (excludes freehold new builds and unregistered property)

Below we set out the estimate of our fees for freehold residential property. This type of transaction is not usually done on an hourly rate but instead we give you a quote based on your particular transaction and the quote will include the firm’s fee for that transaction. Below we have endeavoured to provide estimates for the various fees that would usually be applicable in an average transaction. Nonetheless, we have provided our hourly rate at the end of the sheet. It would vary rarely apply but if it would, we will advise you at the beginning of your transaction.

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

For sale transactions, our legal fees will be in the same range as below excluding disbursement for searches, SDLT fees and Land Registration fees. Instead, the typical disbursements will be electronic money transfer fees on transfers of money to any mortgagee and/or you as seller and ordering of title documents from the Land Registry usually at a cost of £3 each.

Legal Fees  and Disbursements                             From (£) 
               £0-£500,000  £700-£1,150 
               £501,000-£1,000,000    £1,151-£1,700 
               Over £1,000,000 On percentage basis typically 1% of the purchase price but please contact us for a quote if the property you are purchasing is over £1,000,000 
Search fees: 

Local Authority: 

Official Local Authority search fee vary and is set by the Local Authority. This can therefore affect the final search fee. Where we are undertaking an Official Local Authority search typically the overall search fee will be in the region of:  

In some instances, it will be possible to order regulated searches (carried out by third party agents instead of the officials of the body who collects the information). This can sometimes reduce the overall search fees. Where it is possible and acceptable to your lender to order regulated searches, the search fee will be in the region of  

Our standard searches cover, Local Authority, Environmental, Water and Drainage and Indemnity for Chancel Repair  

 

 

 

 

£250-£500 

 

 

 

 

£220-£400 

 

HM Land Registry fees: This depends on the purchase price or value of your property and whether it is a “Scale 1” or “Scale 2” application. You can find out the Land Registry fees that will apply to your matter by visiting the Land Registry website at: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. 

Generally, however, for Scale 1 applications, when applying through the Land Registry portal fees are in band as follows: Properties between 

£0-£500,000 

£501,000-£1,000,000 

£1,000,001 

£20-£150 

£295.00 

£500.00 

In most cases it will be possible to register the transaction using the Land Registry Portal. There are however few cases where this will not be possible. When we receive your instructions, we will let you know if your matter falls within the excepted cases. 
Electronic money transfer fee     £25-£35 per transfer over £100,000 
VAT payable All fees quoted are exclusive of VAT, which is currently @20%
Subtotal We hope that our baseline quotation above, and the purchase price of your property, will assist you in working out roughly what  the likely fees for your transaction would be. Please also see below for how you can find out the Stamp Duty Land Tax that would be payable (where it applies) to your transaction. 

On average this is usually between £1200-£1600 excluding SDLT for which see below. 

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here..

Estimated total £X Please use the fee range to work out the cost of the transaction based on the purchase price you have agreed. You can also contact us if you require more information or have any questions

Purchase 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 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

Sales Key stages:

Some steps in the sale transaction

  • Providing you with the protocol forms for completion
  • Preparing a draft contract to be sent to the buyer’s solicitors
  • Obtaining title documents from the Land registry
  • Requesting redemption figure from the mortgagee (where there is one).
  • Responding to pre-contract enquiries and queries on title.
  • Exchanging Contracts
  • Preparing completion statement
  • Approving the purchase deed and answering the requisitions.
  • Discharging any mortgage (where there is one)
  • Accounting to you for any proceeds of sale

How long it will take from your offer being accepted until you can move into your house will depend on several factors. The average legal process is 8-12 weeks from the time you instruct us.

Transactions in a chain typically take longer to complete as it often depends on everyone in the chain being ready to exchange and complete on the same or roughly the same time. It also means that if one of the parties in the chain pulls out, the other transactions in the chain are at risk of falling through. Transactions in chain can take anywhere from 10 to 16 weeks. This time is only an estimate and can be affected by a number of factors such as the length of the chain, whether a mortgage is being taken and if so, whether it has been approved etc. If you are concerned about this, please feel free to contact us and we will be happy to talk you through this or answer any question that you may have.

Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

For sale transactions, our legal fees will be in the same range as below excluding disbursement for searches, SDLT fees and Land Registration fees. Instead, the typical disbursements will be electronic money transfer fees on transfers of money to any mortgagee and/or you as seller and ordering of title documents from the Land Registry usually at a cost of £3 each.

Legal Fees  and Disbursements                             From (£) 
               £0-£500,000  £850-£1,350 
               £501,000-£1,000,000    £1,351-£2,000 
               Over £1,000,000 On percentage basis typically 1% of the purchase price but please contact us for a quote if the property you are purchasing is over £1,000,000 
Search fees: 

Local Authority: 

Official Local Authority search fee vary and is set by the Local Authority. This can therefore affect the final search fee. Where we are undertaking an Official Local Authority search typically the overall search fee will be in the region of:  

In some instances, it will be possible to order regulated searches (carried out by third party agents instead of the officials of the body who collects the information). This can sometimes reduce the overall search fees. Where it is possible and acceptable to your lender to order regulated searches, the search fee will be in the region of  

Our standard searches cover, Local Authority, Environmental, Water and Drainage and Indemnity for Chancel Repair  

 

 

 

 

£250-£500 

 

 

 

 

£220-£400 

 

HM Land Registry fees: This depends on the purchase price or value of your property and whether it is a “Scale 1” or “Scale 2” application. You can find out the Land Registry fees that will apply to your matter by visiting the Land Registry website at: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. 

Generally, however, for Scale 1 applications, when applying through the Land Registry portal fees are in band as follows: Properties between 

£0-£500,000 

£501,000-£1,000,000 

£1,000,001 

£20-£150 

£295.00 

£500.00 

In most cases it will be possible to register the transaction using the Land Registry Portal. There are however few cases where this will not be possible. When we receive your instructions, we will let you know if your matter falls within the excepted cases. 
Electronic money transfer fee     £25-£35 per transfer over £100,000 
VAT payable All fees quoted are exclusive of VAT, which is currently at 20%
Subtotal We hope that our baseline quotation above, and the purchase price of your property, will assist you in working out roughly what  the likely fees for your transaction would be. Please also see below for how you can find out the Stamp Duty Land Tax that would be payable (where it applies) to your transaction. 

On average this is usually between £1200-£1600 excluding SDLT for which see below. 

Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

  • HM Land Registry fee: £as above
  • Search fees: £as above
  • VAT on search fees £as above
  • Electronic money transfer fee: £as above
  • VAT £as above
  • Subtotal: £as above

Notice of Transfer fee – This fee if chargeable is set out in the lease, by the Management Company, Landlord or Freeholder. This varies widely, and this estimate is subject to the fee to be charged by the recipient of the Notice in your individual case. Often the fee is between £60-£150

Notice of Charge fee (if the property is to be mortgaged) – This fee if chargeable is set out in the lease, by the Management Company, Landlord or Freeholder. This varies widely and this estimate is subject to the fee to be charged by the recipient of the Notice in your individual case. Often the fee is between £60-£150

Deed of Covenant fee – This fee is set by the Management Company, Landlord or Freeholder for the property and can be difficult to estimate. Often it is between £150-£300

Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £120-£200

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents or receive the fee sheet from the Management Company, Landlord or Freeholder

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 we receive this information.

For sale transactions, the Notice Fee and Certificate of Compliance fee mentioned above will not apply. However, in most cases, we will obtain information from the Landlord/Management Company about the leasehold. Typically, they will charge for this, and the fee varies widely and could be anything from around £250.00-£500.00. Any estimate given is however subject to the actual fee chargeable by the Landlord/Management company.

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

Grand total £X (Please use the fee range to work out the cost of the transaction based on the purchase price you have agreed. You can also contact us if you require more information or have any questions

Purchase 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
  • 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

Sales Key Stages:

Some steps in the sale transaction

  • Providing you with the protocol forms for completion
  • Obtaining information from the Landlord/Management Company
  • Preparing a draft contract to be sent to the buyer’s solicitors
  • Obtaining title documents from the Land registry
  • Requesting redemption figure from the mortgagee (where there is one).
  • Responding to pre-contract enquiries and queries on title.
  • Exchanging Contracts
  • Preparing completion statement
  • Approving the purchase deed and answering the requisitions.
  • Discharging any mortgage
  • Accounting to you for any proceeds

How long will my house purchase take?

How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 6-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, lease, this can take significantly longer, between 3 and 6 months, unless terms have agreed terms with the Landlord, in which case completion can be achieved around the same time as an average transaction mentioned above. Additional charges may however apply.

Transactions in a chain also typically take longer to complete as it offers depends on everyone in the chain being ready to exchange and complete on the same or roughly the same time. It also means that if one of the parties in the chain pulls out, the other transactions in the chain are at risk of falling through. Transactions in the chain can take anywhere from 8 to 16weeks. This time is only an estimate and can be affected by a number of factors such as the length of the chain, whether a mortgage is being taken and if so, whether it has been approved etc. If you are concerned about this, please feel free to contact us and we will be happy to talk you through this or answer any question that you may have.

* Our fee assumes that:

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

this is the assignment of an existing lease and is not the grant of a new lease

the transaction is concluded in a timely manner and no unforeseen complication arise

all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Hourly Rate

Please do note that this rarely applies in a conveyancing transaction, but where it would, we would advise you at the beginning of your transaction. The solicitor that currently deals with conveyancing transaction is in Grade A

The current hourly rates are set out below:

Grade

Rate   

Grade A – Solicitors or Fellow of CILEX over 8 years’ qualified experience

 £240.00  

Grade B – Solicitors or Legal Executives (CILEX) over 4 years’ qualified experience and Costs Lawyers who are suitably qualified, and subject to regulation, depending on the complexity of the work

 £195.00

Grade C – Other qualified Solicitors or Legal Executive and Costs Lawyers who are suitably qualified, and subject to regulation, depending on the complexity of the work

 £165.00

Grade D – Trainee Solicitors, paralegals or equivalent

 £121.00

Mortgages and Re-mortgages

Our fees cover the work from instruction to completion of the mortgage or re-mortgage, including dealing with registration at the Land Registry.

Our fee assumes that:

  • 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
  • The transaction is concluded in a timely manner and no unforeseen complication arise.
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Mortgages and Re-Mortgage Fees

Valuation

Our Fees  

£0-£500,000

 £850 – £1,000  

£500,0001 to £1,000,000

£1,000 to £1,500

£1,000,001 plus

Our fees are on % basis. Typically, from 0.25% of the value of the property but please contact us for a quote if the property is valued over £1,000,000.

  

Search fees-same as on website currently.

All fees quoted are exclusive of VAT, which is currently @20%

HM Land Registry fees: This depends on the value of the charge. You can find out the Land Registry fees that will apply to your matter by visiting the Land Registry website at: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Generally, however, for Scale 2 applications, when applying through the Land Registry portal fees are in band as follows: Properties between

£0-£500,000 : £45

£501,000-£1,000,000 : £65

£1,000,001 plus : £140

In most cases it will be possible to register the transaction using the Land Registry Portal. There are however few cases where this will not be possible. When we receive your instructions, we will let you know if your matter falls within the excepted cases.

Mortgages and Re-mortgages Key Stages

  1. Taking initial instructions from you and your lender
  2. Carrying out conveyancing searches as required
  3. Investigating title as required by your lender
  4. Raising any enquires as may be required, including in leasehold properties, of the Management Company or freeholder
  5. Dealing with the current mortgagee, as applicable with regards to redemption
  6. Reporting to you as required
  7. Conducting pre-completion searches
  8. Completing the transaction
  9. Dealing with registration of the mortgage and any other post completion matters such as service of notice on Management Company/Freeholder

Timelines

How long before the mortgage / remortgage completes?

This can depend on several factors, including the level of investigation which the new lender requires to be undertaken. Also, we may need to obtain documents/information from other third parties such as any current lender, Management Company, Freeholders etc. Invariably, this will add to the timescales. Typically however, we would estimate a period of around 8 to 10 weeks from instruction. This period will vary from transaction to transaction and specific advice will be provided on individual matters.

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