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An illustration of possible Fees
The fees that we charge for conveyancing are dependant on the type of transaction that is involved. We will provide you with an estimate of those fees based on the information supplied to us.
The amount that is charged is influenced by a number of factors, some of which can be predicted at the outset and some cannot. Common things that affect the amount of the fees that you can tell us at the outset are as follows:
- Help to Buy Loan
- Help to Buy ISA or LISA
- Leasehold
- Shared equity
- New build
In addition to our fees, you will need to pay for charges incurred with third parties. These will depend on the type of transaction, but would typically include such things as:
- Stamp Duty Land tax
- Land Registration fee
- Bank transfer fee
- Searches
By way of an illustration should you be a first-time buyer purchasing a freehold property for £250,000 with a Help to Buy ISA then you would expect to incur costs (including VAT) of:
- Hayward Moon fee re purchase - £1,434.00
- Hayward Moon fee re Help to Buy ISA - £60.00
- Searches - £303.60
- Pre-completion searches - £8.40
- HM Land Registry fee - £150.00
- Funds transfer fee - £46.80
- AML checks - £36.00
- SDLT (assuming first-time buyer relief) - Nil
- Total - £2,038.80
should you be purchasing a leasehold property (not being a first-time buyer) for £200,000 then you would expect to incur costs (including VAT) of:
- Hayward Moon fee re purchase - £1,434.00
- Leasehold Fee - £900.00
- Searches - £303.60
- Pre-completion searches - £8.40
- HM Land Registry fee - £150.00
- Funds transfer fee - £46.80
- AML checks - £36.00
- SDLT - Nil
- Total - £2,878.20
Note that all the figures in that illustrations are inclusive of VAT at 20%. If you would like an illustration tailored to your circumstances please contact one of our offices.
Referral fees
We have arrangements with other professionals within the industry such as estate agents or mortgage advisors who will refer clients to us from time-to-time. Some arrangements will involve us paying a referral fee to those introducers. This may be a specific amount for each transaction or it may take the form of a more general arrangement such as, for example, us paying for advertising in their brochure. On the occasions where we pay a specific amount then a typical referral fee would be in the region of £100. Such an arrangement does not have any bearing on the amount we charge you. We will inform you of any specific payment in our engagement letter should you instruct us.
Timescales
It is impossible to state in advance how long a conveyancing transaction will take. A typical transaction may take around 10 -12 weeks but it can be faster or slower. It is influenced by factors outside your control or ours. Commonly there is a chain of transactions and so no matter how quickly your particular transaction progresses you will always be hampered by the slowest part of the chain. Leasehold transactions for example generally take longer than freeholds so if there is one leasehold someone within the chain that will likely delay the whole chain.