CLEAR PRICING INFORMATION FOR RESIDENTIAL CONVEYANCING

FREEHOLD, LEASEHOLD, MORTGAGE AND REMORTGAGE TRANSACTIONS

At Prettys Solicitors we have an experienced team to advise and guide you through buying and selling your home. We have moved many people and so know how important it is that you are kept informed at every stage.

Our Fees

For helping you buy or sell your home our fees range from £700 + VAT for a straightforward simple transaction. Our fees will vary depending on Property Type (Freehold or Leasehold) Property Value (Sale Price) and the complexity of your transaction and that is why we will give you an individual cost estimate at the start of a transaction and will advise you immediately if any complications may affect the price.   We can also assist you with Mortgages and Re-mortgages. Our typical costs range from £500 to £700 +VAT and we would estimate a timescale of 4-6 weeks. 

There will be added expenses and disbursements, including searches and Land Registry fees, with an estimated range of £80 to £150. These costs do not include work to rectify defects in the Title, second charges, equity release mortgages, restrictions on the Title and any Declaration of Trust. We can quote you for our costs relating to these separately. 

As an example, for a Freehold Purchase of adds property between £125,000 and £300,000 we would anticipate our fees would be between £800 and £900 +VAT.

                                                                                                   FREEHOLD                                                     LEASEHOLD
  Under £125,000   £700 - £800 +VAT @ 20%  £800 - £900 +VAT @ 20%
  £125,001 - £300,000  £800 - £900 +VAT @ 20%  £900 -£1,000 +VAT @ 20%
  £300,001 - £500,000  £900 - £1,000 +VAT @ 20%  £1,000 - £1,100 +VAT @ 20%
  £500,001 - £800,000  £1,000 - £1,100+VAT @ 20%  £1,200 - £1,300 +VAT @ 20%
  £800,001 - £1,000,000  £1,200 - £1,400 +VAT @ 20%  £1,400 - £1,600 +VAT @ 20%
  Over £1,000,000  TBC  TBC

TRANSFERS OF EQUITY/ASSETS: £500-£850 + VAT
Lease Extensions/Deed of Variation: £500-£1,000 + VAT
Loan Agreement & Charge: £500-£850 + VAT

 

Expenses and Disbursements

These are costs related to your transaction which are payable to third parties. We look after the payment of the disbursements on your behalf.  Example of these are search fees, Land Registry fees, notice and leasehold information pack charges and bank fees. They average between £500 to £1,000 in total and VAT may be payable.

Our fees do not include any external costs e.g. Estate agents, removal costs and environmental remediation costs – you will be responsible for these items. 

A. Sale

  Telegraphic Transfer Fee (CHAPS transfers to solicitor’s client account; lender accounts (redemptions);    client bank   account (sale balance))  £35.00 +VAT @ 20%
  Telegraphic Transfer Fee (to third parties) (BACS transfers to Agents, Management Companies, Landlords  and other parties other than above related to the transaction)  £7.50 +VAT @ 20%
  Land Registry Office Copy Entries
  (The number and type of Land Registry documents we obtain will depend upon the individual property    being sold)
  £6.00 - £20.00 +VAT @ 20%
  Each document is £3.00 +VAT @ 20%

   For the Sale of Leasehold Properties adds the following to the above:

   Management Packs
  (The leasehold sale pack as provided by the landlord and/or management company)

  £500.00 +VAT @ 20% 

  (approximately, to be confirmed by the landlord        and/or management company)

B. Purchase/Mortgage/Re-mortgage

  Telegraphic Transfer Fee (CHAPS transfers to the solicitor’s client    account; lender accounts (redemptions); client bank account (sale  balance)  £35.00 +  VAT @ 20%
  Telegraphic Transfer Fee (to third parties) (BACS transfers to Agents,   Management Companies, Landlords and other parties other than above      related to the transaction)  £7.50 + VAT @ 20%
  Search Fees - approximate  £252.00 (approximately, inclusive of VAT)
  Bankruptcy Search (per purchaser)  £2.00 + VAT @ 20%
  Land Registry OS1 search  £3.00 + VAT @ 20%

  Lender Portal fee
 (Some Lenders are members of a conveyancing portal which charge for   downloading mortgage offers and other documents)

  £25.00 + VAT @ 20%
  Stamp Duty (no VAT is payable)  Dependent on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's website Stamp Duty Land Tax Calculator or if the property is located in Wales by using the Welsh Revenue Authority's website Calculate  Land Transaction Tax.
  Land Registry Fee (no VAT is payable)Land Registry Fees payable are based on a scale according to the value of the property (refer to the Land Registry fee guide).

   For the Purchase of Leasehold Properties add the following to the         above:

  Leasehold Property Transfer Fees

 (Fees as provided by the landlord and/or management company)

 

  £400 - £600 + VAT @ 20%

  (approximately, to be confirmed by the landlord and/or management company)

 

   For the Mortgage/Re-mortgage of Leasehold Properties add the        following to the above:

   Management Packs
  (The leasehold pack as provided by the landlord and/or management      company)

 

  £500.00 + VAT @ 20%

  (approximately, to be confirmed by the landlord and/or management company)

 

When Can I Move? 

This is a frequently asked question and the answer depends on a number of factors. The average process takes between 10-14 weeks. This may be quicker or slower depending on the parties in the chain. We will be in contact regularly so you will know in good time when to start packing and booking the removals. 

We offer a bespoke personal service and your house sale and purchase may vary according to the circumstances. If everything fits the standard plan the Stages of the Process will include the following:

Sale

  • Take your instructions and give your initial advice

  • Prepare and issue contracts for your sale

  • Deal with enquiries on your sale

  • Send contract documents for your signature

  • Agree on a completion date

  • Exchange contracts

  • Obtain up-to-date redemption figures from your mortgage

  • Complete your sale

  • Account to you for any monies due to you following redemption of your mortgage

Purchase

  • Take your instructions and give you initial advice
  • Check finances are in place for your purchase
  • Receive contract documents and raise any Title enquiries
  • Carry out searches on your purchase
  • Check your mortgage offer
  • Give you advice on all documents and information received
  • Send contract documents to you for signature
  • Agree on a completion date
  • Exchange contracts
  • Arrange for your mortgage monies to be released
  • Complete your purchase
  • Account to you for any monies due to you
  • Notify the mortgage lender and freeholder management company if the leasehold purchase
  • Deal with stamp duty and registration of ownership at the Land Registry

Why Choose Us?

We are not the cheapest but we pride ourselves on our service to clients; our experienced staff will offer a tailor-made service to you. We work very closely with local professionals including surveyors, valuers, mortgage and insurance brokers, financial advisors and accountants and have a good working relationship with local estate agents. You will have clear fee transparency, regular updates and car parking available at our centrally located Ipswich office where a welcome pot of tea, coffee and biscuits are waiting for you when you come to see us.

Personnel

The Residential Property team is made up of the following personnel. Their full profiles can be found by clicking the link on their name. 

Heidi Vanlangenaeker – Senior Associate, £253 per hour + VAT @ 20%

Heidi has a Masters in Chinese Studies from the University of Louvain and a Law degree from De Montfort University in Leicester.  She qualified as a Solicitor in 2017.

Heidi joined Prettys Residential Property Team in October 2021 having worked previously for other local firms. 

Heidi qualified as a Notary public in 2022.

Joseph Jordan – Solicitor, £225 per hour + VAT @ 20%

Joseph joined Prettys in 2018 and works within the residential property team. Joseph completed his LLB Law Degree in 2012 and Legal Practices Course in 2013. 

Joseph assists the team with all aspects of residential conveyancing work whilst managing his own caseload.

Jade Thompson - Paralegal, £150 per hour + VAT @ 20%

Jade joined Prettys in April 2022, having worked previously at an estate agency for four years and a wealth management company for just over a year.

She provides support in the Residential Property department. Working in a fast-paced team, Jade is diligent in ensuring she maintains attention to detail and Prettys high customer care standards with each property matter.