Conveyancing

For an indication of costs, for a property with a value in the region of £350,000 where there are no unexpected complications, we typically calculate our fee on a Fixed Fee basis as follows however our fee always excludes VAT at (20%).

Experience and qualifications

Senior Solicitor, Ms Nida Mansoor (Head of Conveyancing) is the lead Solicitor in relation to Conveyancing and has over 9 years of experience.

Fees

In the vast majority of cases, we are able to offer our clients an agreed fixed fee to prepare and submit their applications. However, in circumstances where this is not possible our fees will be calculated on the following hourly rates:

Hourly Rate

Muzaffar Mansoor –Senior Partner                £350.00           VAT £70.00    Total £420.00

Nida Mansoor – Senior Solicitor                    £350.00           VAT £70.00    Total £420.00

Ishfaq Ahmad (RFL)– Consultant                  £250.00           VAT £50.00    Total £300.00

Other trainees and Paralegal caseworkers      £120.00           VAT £24.00    Total £144.00

Administrative & Support Staff                     £80.00             VAT £16.00    Total £96.00

We will provide you with a cost estimate based on the number of hours we reasonably expect to spend on your case and the disbursements that are likely to be incurred.

Freehold

Property price up to £350,000.00

Sale £850.00 plus VAT £170.00 Total £1,020.00

Purchase £950.00 plus VAT £190.00 Total £1,140.00

Re-mortgage £700.00 plus VAT £140.00 Total £840.00

Acting for Lenders from £250.00 plus VAT £50.00 Total £300.00

Property price up to £500,000.00

Sale £1,250.00 plus VAT £250.00 Total £1,500.00

Purchase £1,500.00 plus VAT £300.00 Total £1,800.00

Other property prices

Please call for a bespoke quotation however our fee always excludes VAT at (20%).

Leasehold

Property price up to £350,000.00

£1,200.00 plus VAT £240.00 Total £1,440.00

Property price £500,000.00

£1,500.00 plus VAT £300.00 Total £1,800.00

Other property prices

Please call for a bespoke quotation however our fee always excludes VAT at (20%).

For simple leasehold properties our fee will be from £1,200.00 plus VAT £240.00 Total £1,440.00 depending on whether your instruction relate to a sale or a purchase and dependent upon the features of your transaction.  However, each matter is taken on its own facts and circumstances and attracts a particular fee in view of urgency, complexity and importance of the matter.

For leasehold properties there are usually additional fees payable to the landlord or managing agent to obtain a Management Pack or replies to Leasehold Property Enquiries these are typically between £300.00 plus VAT £60.00 Total £360.00 to £1000.00 plus VAT £200.00 Total £1,200.00 but can be higher all our fee always excludes VAT at (20%).

There may also be other disbursements such as a fee to the landlord or their agent to register you as the new owner and your lender as an interested party. These additional disbursements could be anything from £200.00 plus VAT £50.00 Total £250.00 to £850.00 plus VAT £170.00 Total £1,020.00 depending of the requirement of the freehold management agent our fee always excludes VAT at (20%). Disbursements vary from property to property, and this is not an exhaustive list. We will be able to give you a specific estimate once we have had sight of the documentation relating to your transaction.

Re-mortgage of Residential Property

Our fees start at £675.00 VAT £135.00 Total £810.00 for a residential re-mortgage where we also act for a standard High Street lender for a loan up to £300,000.00 for a relatively straight forward matter rising thereafter with level of loan and value of the property our fee always excludes VAT at (20%).

We will always give you an individual cost estimate at the start of the transaction based on your particular facts and circumstances and advise you immediately should any complication or complexity arise before any charges are incurred.

Each matter is taken with its own facts and circumstances and attract particular fee our fee always excludes VAT at (20%).  For a more accurate estimate we recommend that you get in touch with us to discuss your individual circumstances.

Cybercrime and fraud warning

As a result of the increased risks posed by cyber fraud and especially those relating to bank account details, please note that Dean Manson LLP’s bank account details will NOT change during the course of a transaction.

Please be vigilant and ensure caution is exercised when opening any emails, attachments or links which purport to come from us in response to any requests for our bank details.

We will NOT accept any responsibility if you transfer money into an incorrect bank account. It is our Company policy never to send out our bank details out by email.

If you receive bank details from us by email, please telephone our office and speak to the person dealing with your matter, or a Partner of this firm.

Disbursements

In addition to our fees, you are also required to pay costs that are relevant to your transaction that are payable to third parties, these are sometimes called ‘disbursements’.

An example is a search fee which is paid to a search company (for example a coal mining search or a water and drainage search) on the property that you are purchasing.

We will generally handle the payment on your behalf to ensure a smoother process. the rate of disbursement may vary from time to time. The most common disbursements in a conveyance are detailed below:

Typical disbursements

Our handling charges for sending telegraphic transfer on completion (if we redeem a mortgage, there will be 2 telegraphic transfers so this item and charge will appear twice) £30.00 plus VAT Nil Total £30.00.

Land Registry title information £12.00 plus VAT Nil Total £12.00

Land registry fee dependant on value of lending from £20.00 plus VAT Nil Total £20.00

Pre completion searches (approximately) £7.00 plus VAT Nil Total £7.00

Indemnity insurance instead of full searches dependant on value of property (approximately) £30.00 plus VAT Nil Total £30.00

For leasehold properties notice would also need to be served on your landlord (approximately) £60.00 plus VAT £12.00 Total £72.00

Bank chaps transfer £30.00 plus VAT Nil Total £30.00

ID verification (approximately) £6.00 plus VAT £1.20 Total £7.20 per person

AML Check (approximately) £4.00 plus VAT £0.80 Total £4.80

Searches

Search fees (to cover the usual recommended searches x 3) for official searches and in the region of £400.00 plus VAT £80.00 Total £480.00 for regulated searches.

Chancel Liability Indemnity Insurance

From £19.00 plus VAT Nil Total £19.00 (including Insurance Premium Tax) A scaled fee typically applies depending on the value of the property.

Please further note that the disbursement as set out do not include VAT (20%) and if VAT (20%) is payable, we will clearly set this out from the outset so that the costs are clear.

For a Purchase transaction

Stamp Duty Land Tax (paid to the Inland Revenue). The amount depends on the purchase price of your property. This can be calculated using HMRC’s website or if your property is in Wales by using the Welsh Revenue Authority’s website here.

Key stages of the purchase process are typically:

• Receive your instructions, identification and other necessary details.
• Check finance arrangements and initiate contact with lender (if applicable).
• Receive and advise on contract documents.
• Undertake searches / obtain planning documentation if necessary.
• Make necessary enquiries of seller’s solicitor.
• Review and advise on all relevant documents and information.
• Review and advise on mortgage offer (if applicable).
• Finalise contract for signature & confirm completion date.
• Exchange of contracts.
• Arrange for receipt of all monies required for completion.
• Complete purchase.
• Prepare and submit Stamp Duty Land Tax return with payment.
• Prepare and submit registration at Land Registry with payment.

Typical timescales and key stages

How long will the transaction take?

The time from an offer being accepted until the time that keys are exchanged will depend on many factors. It can be quicker or slower, depending on the number of parties in the chain and many other factors. For example, a first-time buyer purchasing a new build property with a mortgage agreed in principle is likely to be quicker than a transaction involving a leasehold property that requires an extension of the lease. The average conveyance which is free from complications will generally take between 6-8 weeks. We will endeavour to complete your transaction as quickly as possible and reduce any avoidable delays that are within our control as far as possible.