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Sale of a freehold property

 

Our fees

Some transactions are inevitably more straightforward than others.  So that our charges fairly reflect the complexity of a matter, we charge according to the time needed to be spent by our professional staff to undertake each matter. 

Our current hourly rates are:

  • £250 for partners,

  • £225 for senior solicitors

  • £205 for solicitors

  • £180 for conveyancing assistants

  • £135 for trainee solicitors.

The majority of our residential conveyancing transactions are undertaken by senior solicitor Joanna Leslie and/or her conveyancing assistant Lisa Jenkins. Joanna has been undertaking residential conveyancing work since 1998 and Lisa since 2006.

We are always happy to provides quotes of our charges for particular transactions, but the following will hopefully be a guide as our typical charges for transactions which do not present unexpected difficulties:.  

Our charges are likely to - £725

Sale of a leasehold property - £850

Purchase of a freehold property - £850

Purchase of a leasehold property - £1,200

Purchase of a new build freehold property - £1,200

Purchase of a new build leasehold property - £1,500

Remortgage of a freehold property - £500

Remortgage of a leasehold property - £750

VAT is payable on these rates at 20%.  Where funds are remitted by telegraphic transfer/CHAPS, there is an additional charge of £24 + VAT.

Disbursements

Disbursements are expenses which we have to pay to others to enable your transaction to proceed. The actual disbursements payable will depend upon the property.  Typical disbursements on a purchase or remortgage may include:

Local Authority Search fee  - £60 - £400 + VAT depending upon the local authority involved.- those in London tend to be the most expensive.

Environmental Search fee - £49 + VAT

Chancel Check Search fee - £20 + VAT

Drainage Search fee - £41.80 + VAT

Land Registry Search fee - £3 + VAT

Land Charge Search fee - £2 per name + VAT

Land Registry fee - £40 - £910 depending upon the purchase price

Stamp Duty Land Tax - This depends on the purchase price of your property and your particular circumstances . HMRC have a calculator available here.


How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between X-X weeks. 


It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take X weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between X and X months. In such, a situation additional charges would apply.


Stages of the process - purchase

The precise stages involved in the purchase of a residential property will vary according to the circumstances. However, the following are typical key stages that are included in our fee estimates above.: 

Take your instructions and give you initial advice

Check finances are in place to fund purchase and contact lender's solicitors if needed

Receive and advise on contract documents

Carry out searches

Obtain further planning documentation if required

Make any necessary enquiries of seller's solicitor and draft the transfer deed

Give you advice on all documents and information received

Go through conditions of mortgage offer with you

Send final documents 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

       Grays Solicitors LLP

       Duncombe Place
       York

       YO1 7DY

t:     01904 634771

f:     01904 610711