Disbursements

As stated above, the 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.

Leasehold disbursements – 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.

Other Anticipated Disbursements*

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £40-£100.
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50-£100.
• Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50-£200
• Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £20-£100.

*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. 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 this we receive this information.

CONVEYANCING (residential)

We can assist with freehold sale or purchase, leasehold sale or purchase or mortgage or re-mortgage. The fee charged is dependent upon the value of the property and enquiries involved.  Our fees are on the assumption that:

1. this is a standard transaction and that no unforeseen matters arise e.g. a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction etc
2. the transaction is concluded in a timely manner and no unforeseen complication arise
3. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
4. for leasehold transactions this is the assignment of an existing lease and is not the grant of a new lease
5. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

Fees and disbursements

• Legal fee – please refer to the table below
• Search fees – approximately* £230 incl vat for basic (Local, Environmental and D&W) and approximately* £255 incl vat for complete pack (Local, Environmental, D&W, Chancel and Title Checker) *this may vary depending on the local authority’s charges
• Acting on behalf of the lender – this depends on the lender involved, its requirements, nature and length of enquiries which ranges between is £199 and £450 plus VAT
• The fee for a re-mortgage depends on the lender involved, its requirements and value of property and is charged on an hourly rate of £175- £211 plus VAT.   Based on experience our fee for a re-mortgage can range between £800 to £2000 plus VAT
• Fees for advising on or preparation of any other documents or deeds may be subject to an hourly charge.
• HM Land Registry fee – please refer to the table below
• Electronic money transfer fee £30 plus VAT
• AML Searches fee – £10 plus VAT
• Land Registry Official copies of Titles, Plans,  Leases and Deeds – £3 each document
• Official Priority Search – £3 each search
• Bankruptcy search fee –  £2 each name
• Copy, postage and petty incidentals – £30 plus vat
• Dealing with and filing Stamp Duty returns £99 Plus vat
• Mortgage redemption fee: £99 Plus vat

Our fee is based on your transaction not being or becoming unduly complex or protracted.

The following are only examples of factors that are likely to increase the cost of the service:

– if legal title is defective or part of the property is unregistered

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.

So the fee for your purchase is dependent upon the value of your Property plus the disbursements outlined above.