PRICES
Sale and purchase of residential property
Rhodes & Walker fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with payment of Stamp Duty Land Tax if the property is in England, or Land Transaction Tax if the property you purchase is in Wales.
| Sale Bracket | Legal Fee to Client |
|---|---|
| Up to £250k | £550 |
| Up to £500k | £600 |
| £500k+ | £750 |
| Purchase Bracket | Legal Fee to Client |
|---|---|
| Up to £250k | £575 |
| Up to £500k | £650 |
| £500k+ | £750 |
| Remortgage | Legal Fee to Client |
|---|---|
| Flat fee of | £400 |
| Transfer of Equity | Legal Fee to Client |
|---|---|
| No mortgage Involved | £400 |
| Transfer & Remortgage | Legal Fee to Client |
|---|---|
| Flat fee of | £700 |
There are certain types of residential property transactions that require additional time and work in order for the process to move as smoothly as possible. Here we have listed our additional charges for these instances. Again, these fees exclude VAT.
** For properties priced at over £1,000,000 a fee of 0.15% will be applied, to both sale and purchase transactions **
| Leasehold Property | £400 |
|---|---|
| If the property is unregistered at HM Land Registry | £200 |
| Same day bank transfer fee (purchase price, mortgage redemption) | £40 |
| Mortgage instruction (charge will depend on nature of lender and complexity of instructions) | £125 |
| File storage fee | £40 |
| If you are receiving gifted funds in order to purchase a property | £100 |
DISBURSEMENTS
With every transaction there are disbursements which are payments to third parties required in relation to your matter. The most common disbursements are listed below.
| Disbursements on sale transactions | Cost |
|---|---|
| Land Registry office copies (Freehold) | £6-£15 |
| Land Registry office copies (Leasehold) | £15-£30 |
| Identity checks per person | £12.15 |
STAMP DUTY LAND TAX
This depends on the purchase price of your property and your circumstances. You can calculate the amount you will need to pay by using HMRC’s website here
https://www.gov.uk/stamp-duty-land-tax
THIRD PARTY CHARGES
There are in some cases additional costs that need to be paid to third parties that we cannot always quote for at the outset of a transaction. We will of course make you aware as soon as these costs arise. These are most commonly found in leasehold transactions, but can sometimes appear in freehold purchases of properties on estates with ‘managed areas.’
These additional costs are most commonly paid to a landlord, management company, managing agent or their solicitor on completion. There are four main separate charges that can be levied and these are detailed below. Again this excludes VAT.
| Notice of assignment/purchase | £35-£150 |
|---|---|
| Notice of Charge | £35-£150 |
| Deed of Covenant fee | £75-£250 |
| Land Registry compliance certificate | £75-£250 |
As you can see above, these fees vary depending on who they are payable to. The range could be even greater, the above fees are the average costs we have come across.
ADDITIONAL SERVICES OR FACTORS
If you instruct us via a referral agent that may increase overall costs. The referral agent will provide you with a detailed quote which you may decide whether or not to accept.
If unforeseen issues arise there may be additional charges but we will tell you about these in advance and agree them with you before costs are incurred.
