Residential Conveyancing Basis of Costs

This guide is designed to provide as much information relating to our Private Client Conveyancing Services as we can but we are always prepared to supply a detailed quotation for any specific matter that you would like to instruct us on.

Our Team

Our team has many years of collective experience in delivering high quality work in all matters relating to property sales and purchases.
We have members of the team who may work on your matter. Regardless of who acts for you personally they will be supervised by Aidan O’Donoghue Partner and Head of Residential Conveyancing. You can find out more about each member of our Conveyancing team on Our Team section of our website.

We set out below what services we provide for different types of transaction and a guide to the costs payable.

Purchase of Residential Property

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

Conveyancing Fees

We charge a fixed fee for conveyancing work, based upon the value of the property. We have set out below the guideline fees for each property value.

Property Value Fee
£0 to £175,000 £650.00
£175,001 to £250,000 £700.00
£250,001 to £350,000 £750.00
£350,001 to £500,000 £800.00

Transactions above a purchase price of £500,000 will be quoted on a case-by-case basis. All fees are subject to VAT.

Leasehold Property

If the property that you are purchasing is a Leasehold property, there is additional work involved when acting for a purchaser. This includes:

Reviewing the Lease and reporting to you on the terms of it
Reviewing information provided by the Freeholder / Managing Agent regarding Ground Rent, Service Charge, Maintenance arrangements, Buildings Insurance, etc.
Serving Notice of Transfer on the Freeholder / Managing Agent following completion, as required by the terms of the Lease

To recognise the extra work involved, we charge an additional fee of £150 + VAT

Disbursements
These are costs relating 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 smooth process.

Search Fees
We carry out searches on your behalf to ensure that you have as much information about the property as possible before completing your purchase. We generally carry out three standard searches for any property purchase. We have negotiated a favourable search package with a Search provider, meaning that we can pass the lower cost on to our clients, without compromising the quality of the search results that we receive.

Local Authority Search (£62.50) – The search consists of information from the Local Authority regarding Planning Application, Building Regulation Consents, responsibility for the road, Enforcement Notices and other matters relating to the property
Water & Drainage Search (£29) – The search consists of information from the local water and sewerage suppliers regarding connections to the property, mains and surface water drainage and sewers within the boundaries of the property which may remain the responsibility of the water company.
Environmental Search (£36) – The search consist of information regarding flood risk, ground stability and contaminated land. This is generally the same information as that used by insurers to determine insurance premiums.

The Search fees detailed above are subject to VAT.

We also put in place on completion a Chancel Repair Liability Indemnity Policy at a cost of £12. A significant proportion of properties within the local area are potentially liable to contribute towards chancel repairs and we find that the most cost-effective way to deal with this on our clients’ behalf is to put in place an indemnity policy, to protect the purchaser and mortgage lender.

HM Land Registry fee
On completion of any purchase, it is compulsory for the property to be registered with HM Land Registry. The Land Registry fee is based upon the price paid for the property and the type of application being made. You can calculate the amount of the Land Registry Fee using HM Land Registry’s fee calculator http://landregistry.data.gov.uk/fees-calculator.html

Stamp Duty or Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenues Authority’s website here https://beta.gov.wales/land-transaction-tax-calculator

Referral fee (if any)
On occasions we do pay a referral fee to an introducer and if this is the case we will confirm in our initial client care letter. This will not impact in any way on the fees that you pay to Tolhurst Fisher.

Example Quote
We have produced below an example quote, based upon a single person purchasing a freehold property for £300,000 as a main residence. Whenever a potential client contacts us for a quote, we provide them with a similar breakdown, so that all of the costs are as clear as possible from the outset.

Tolhurst Fisher Fees £750.00
SDLT form completion fee £50.00
Bank Transfer(s) Fee (per TT) £35.00
Local Authority Search £62.50
Water & Drainage Search £29.00
Environmental Search £36.00
Pre-completion Searches £5.00
VAT thereon £193.50
Chancel Indemnity £12.00
SDLT £5,000.00
Land Registry Fee £135.00

Total £6,308.00

Frequently asked questions
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 8 and 12 weeks. It can be quicker or slower depending on the other parties in the chain. For example, if you are buying a Leasehold property that requires a Lease Extension this can take significantly longer. In such a situation additional charges would apply. See below for details of possible additional charges all of which would be advised to you before embarking on any extra work.

Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that are typical to most transactions:
Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lenders solicitors if needed
Receive and advise on contact documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of the sellers 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

Sale of Property

Our fees cover all work required to complete the sale of your property from issuing draft contract documentation to the prospective purchaser’s solicitor to completing the sale and dealing with the proceeds of sale on your behalf.

Conveyancing Fees
Property Value Fee
£0 to £175,000 £650.00
£175,001 to £250,000 £700.00
£250,001 to £350,000 £750.00
£350,001 to £500,000 £800.00

Transactions above a purchase price of £500,000 will be quoted on a case-by-case basis. All fees are subject to VAT

Leasehold Property
If the property that you are purchasing is a Leasehold property, there is additional work involved when acting for a purchaser. This includes:

Obtaining a copy of the Lease and any supplemental documents from HM Land Registry
Obtaining information from the Freeholder / Managing Agent regarding Ground Rent, Service Charge, Maintenance arrangements, Buildings Insurance, etc. and providing this to the purchaser’s Solicitor
Making arrangements with regard to Licence to Assign or Deed of Covenant if required by the terms of the Lease.

Disbursements
These are costs relating 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 smooth process.

Land Registry Official Copy Documents
If the property is already registered at HM Land Registry, we obtain up-to-date copies of the title in order that we can prepare the draft Contract for the purchaser’s Solicitor. Land Registry charge £3 per document. Typically a freehold sale will require two documents (the Title and Plan) whilst a leasehold property will require five documents (the Title and Plan for both the freehold and leasehold titles together with a copy of the Lease).

Freeholder Sales Pack
If the property is leasehold, we will need to obtain information from the Freeholder / Managing Agent. The Freeholder / Managing Agent can charge a fee for providing the information. Typically these fees range from £75 to £500. We will contact the relevant parties when your sale commences to establish the amount of the fee.

Referral fee (if any)
On occasions we do pay a referral fee to an introducer and if this is the case we will confirm in our initial client care letter. This will not impact in any way on the fees that you pay to Tolhurst Fisher.

Example Quote
We have produced blow an example quote, based upon a single person selling a freehold property for £300,000. Whenever a potential client contacts us for a quote, we provide them with a similar breakdown, so that all of the costs are as clear as possible from the outset.

Tolhurst Fisher Fees £750.00
Bank Transfer(s) Fee (per TT) £35.00
Office Copies £6.00
VAT thereon £158.20

Total £949.20

Frequently asked questions
How long will my house sale take?
How long it will take from you accepting an offer until completion of the sale of your property will depend on a number of factors. The average process takes between 8 and 12 weeks. It can be quicker or slower depending on the other parties in the chain. For example, if you are selling a Leasehold property that requires a Lease Extension this can take significantly longer. In such a situation additional charges would apply. See below for details of possible additional charges all of which would be advised to you before embarking on any extra work.

Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that are typical to most transactions:
Take your instructions and give you initial advice
Obtain Title documents and prepare draft contract documentation
Arrange for you to complete property information forms
Contact your existing Lender to request initial redemption figures and details of their requirements
Obtain further planning documentation if required
Respond to any enquiries raised by the purchaser’s solicitor
Give you advice on any matters that require your attention
Send final contract to you for signature
Agree completion date (date from which you will no longer own the property)
Exchange contracts and notify you that this has happened
Collect the sale proceeds from the purchaser’s solicitor
Complete the sale of your property
Pay the amounts required to redeem your mortgage and to settle the Estate Agent’s invoice
Account to you for the net proceeds of sale

Mortgage of Property

When you purchase a property with the benefit of a mortgage, your mortgage lender will also need to appoint a Solicitor to act for them in the transaction. We are on most mortgage lender’s panels of solicitors and are therefore able to act for both you and your lender. You should ensure when arranging your mortgage that your lender will instruct us to act for them when dealing with your purchase and mortgage.

There is additional work involved in acting for your mortgage company, including:

Checking that the mortgage details match the transaction details and reporting any discrepancies to your Lender
Reporting to you on the terms of the mortgage and arranging for you to sign the Mortgage Deed and any other documents required by your Lender
Arranging for the Mortgage Advance to be sent to us in readiness for completion
Registering your Mortgage following completion and providing a copy of your Title to your Lender.

To reflect the additional work involved, we charge a minimum fee of £115 plus VAT although on occasions there are additional requirements to satisfy for which we may charge an additional fee which will be advised at the time.

Re-Mortgage of Property

Throughout your ownership of your property, you may find that you need to re-mortgage. This may be as a result of the Fixed Rate Term of your mortgage deal coming to an end or in order to free up some equity from your property. If you re-mortgage with your current Lender, you do not generally need a Solicitor, as this is simply a product transfer. If you are re-mortgaging to a new Lender, we will be happy to assist you.

Re-mortgage Fees

We charge a fee of £252 plus VAT for re-mortgage with a loan value of up to £500,000. For re-mortgages over £500,000, we will provide you with a quote on a case-by-case basis.

Leasehold Property
If the property that you are re-mortgaging is a Leasehold property, there is additional work involved when acting for a borrower. This includes:

Obtaining a copy of the Lease and any supplemental documents from HM Land Registry
Obtaining information from the Freeholder / Managing Agent regarding Ground Rent, Service Charge, Maintenance arrangements, Buildings Insurance, etc. and reporting this to your Lender
Providing Notice of Charge to the Freeholder / Managing Agent following completion, as required under the terms of the Lease.

Disbursements
These are costs relating 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.

Land Registry Official Copy Documents
If the property is already registered at HM Land Registry, we obtain up-to-date copies of the title. Land Registry charge £3 per document. Typically a freehold re-mortgage will require two documents (the Title and Plan) whilst a leasehold property will require five documents (the Title and Plan for both the freehold and leasehold titles together with a copy of the Lease).

Freeholder Sales Pack
If the property is leasehold, we will need to obtain information from the Freeholder / Managing Agent. The Freeholder / Managing Agent can charge a fee for providing the information. Typically these fees range from £75 to £500. We will contact the relevant parties when your sale commences to establish the amount of the fee.

Referral fee (if any)
On occasions we do pay a referral fee to an introducer and if this is the case we will confirm in our initial client care letter. This will not impact in any way on the fees that you pay to Tolhurst Fisher.

Example Quote
We have produced blow an example quote, based upon a single person re-mortgaging a freehold property with a new loan of £300,000. Whenever a potential client contacts us for a quote, we provide them with a similar breakdown, so that all of the costs are as clear as possible from the outset.

Tolhurst Fishers costs £525.00
Bank Transfer(s) Fee (per TT) £35.00
VAT thereon £112.00
Land Registry Official Copies fee £6.00
Land Registration fee £40.00
Local Authority Search fee £62.50
Land Registry Search fee £7.00

Total £787.50

Frequently asked questions
How long will my remortgage take?
How long it will take from you receiving a new mortgage offer until completion of the remortgage of your property will depend on a number of factors. The average process takes between 3 and 6 weeks. It can be quicker or slower depending on the other parties in the chain. For example, if you are remortgaging a Leasehold property that requires a Lease Extension this can take significantly longer. In such a situation additional charges would apply. See below for details of possible additional charges all of which would be advised to you before embarking on any extra work.

Stages of the process
The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, below we have suggested some key stages that are typical to most transactions:
Take your instructions and give you initial advice
Obtain Title documents and review them
Obtain your Mortgage Offer, check the specific terms and report to you on it
Contact your existing Lender to request initial redemption figures and details of their requirements
Obtain further planning documentation if required
Give you advice on any matters that require your attention
Send Mortgage Deed to you for signature
Request mortgage funds and complete the re-mortgage of your property
Pay the amounts required to redeem your mortgage
Account to you for the net proceeds of the re-mortgage

Possible Additional Charges
No two residential property transactions are the same and it is impossible at the outset to accurately predict what additional services may be needed to complete any one transaction. We have therefore set out below a list (although this is not exhaustive) of possible situations for which additional advise would be needed and the charge for each service. We would advise you before incurring any additional costs over and above our initial quotation.

New Build Supplement – when you purchase a new build property, in addition to the work outlined above, we charge a fee of £150 + VAT for reviewing all of the planning permission / building regulation documents, ensuring that appropriate New Build Warranty documentation is in place, reporting to you on the rights and covenants set out in the Transfer of the plot and arranging for First Registration on completion.
Indemnity Policy Administration Fee – sometimes it is not possible to locate all of the documentation required for your sale / purchase / re-mortgage. In some circumstances, it is possible to solve this problem by arranging to put in place an Indemnity Policy. We can do this on your behalf. We will obtain a quote and advise you of the cost before putting the policy in place. We charge an administration fee of £50 + VAT for arranging the Policy.
Statutory Declaration Fee – in circumstances where ownership, rights, responsibilities or other matters relating to the property are not properly recorded in the Title or Deeds, it may be necessary for you to make a Statutory Declaration to confirm that the statements that you have made with regard to the property are true. We can take your instructions, prepare the Statutory Declaration and arrange for you to sign it. Our fee for dealing with this is £200 + VAT.
Deed of Variation Fee – when dealing with Leasehold property, it is sometimes necessary for the Lease to be varied to bring the document up to date. In some circumstances our Conveyancing department can deal with this on your behalf for a fee of £350 + VAT. In more complex Deeds of Variation or Lease Extensions, it is often necessary for one of our specialist Leasehold Enfranchisement team to be instructed separately and they will provide you with a separate quote for this work.
Purchase / Sale of Freehold reversion of Leasehold Property – in some instances, a leasehold owner can also own the freehold of their property. If the freehold interest is also being disposed of as part of the same transaction, we will need to produce additional transfer documentation and deal with the registration of both titles on completion. We charge an additional fee of £100 + VAT for this work.
Dealing with Stock Transfer Form / Share Certificate – when purchasing a Leasehold property, it is sometimes a requirement for the Leaseholder to become a member of the Management Company. We would obtain the current owner’s Share Certificate and arrange for Stock Transfer Form to be executed by the seller and sent to the Management Company on completion, to ensure that a new Share Certificate is issued in your name. We charge a fee of £75 + VAT for this work.
Dealing with Licence to Assign / Deed of Covenant – when purchasing a Leasehold property, it is sometimes a requirement for the Leaseholder to enter into a Deed of Covenant or obtain a Licence o Assign from the Freeholder. If this is the case, we will obtain the appropriate documentation and make sure that it is properly executed before completion. Our fee for this work is £100 + VAT.
Unregistered Title Fee – where it becomes apparent that the property is not registered at HM Land Registry, it will be necessary to obtain the original Title Deeds, in order that the Contract can be properly prepared and the Transfer effected on completion. When acting for either seller, buyer or borrower, there is considerable extra work involved in reviewing the Title and we charge a fee of £250 + VAT to reflect this.

Complaints handling procedure
Any dissatisfaction that you may have about the service you have received from Tolhurst Fisher LLP will be taken very seriously and we will aim to respond promptly. Tolhurst Fisher LLP is committed to providing a professional and efficient service and if on the rare occasion we have failed to achieve this level of service then please let us know. This will allow us to improve the quality of our service in the area that we have failed. Full details of our Complaints handling procedure can be found at https://tolhurstfisher.com/complaints-procedure/