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Hague & Dixon LLP will endeavour to charge a fee, which fairly reflects your transaction. This fee will be based upon our hourly rate and shall reflect your individual needs. Hague & Dixon LLP tailor the costs estimate to the individual demands of your transaction, placing you: your business at the heart of all information supplied.

 

Hague & Dixon LLP charge an hourly rate for work done. These hourly rates, form the basis of our charges and on which we will calculate any estimate given at the outset.
Our current hourly rates are;

  • £275 + VAT for Directors and Consultants
  • £250 + VAT for Assistant Solicitors and Legal Executives
  • £200 + VAT for other executive staff

To enable you to make an informed decision about who you would want to assist with your transaction, please visit our `meet the team` page for details as to the experience and qualifications of our team and those dealing in conveyancing matters.

Please note that VAT as at 6 December 2018 is charged at a rate of 20%.

 

Indicative Costs of Hague & Dixon LLP

We appreciate that before you make contact with Hague & Dixon LLP you may like an indicative estimate as to our costs for conveyancing transactions.

On the basis of a transaction, which does not present any unusual features or difficulties and involving properties with a value of up to £500,000.00 our indicative charges would be;

  • Sale of a freehold property –0.5% of the agreed sales price, subject to a minimum fee being charged of £1000 + VAT

  • Sale of a leasehold property –0.75% of the agreed sales price, subject to a minimum fee being charged of £1200 + VAT

  • Purchase of a freehold property –0.75% of the agreed purchase price, subject to a minimum fee being charged of £1200 + VAT

  • Purchase of a leasehold property –0.75% of the agreed purchase price, subject to a minimum fee being charged of £1,500 + VAT

  • Purchase of a new build freehold property –1% of the agreed purchase price, subject to a minimum fee being charged of £1,500 + VAT

  • Purchase of a new build leasehold property –1% of the agreed purchase price, subject to a minimum fee being charged of £1,750 + VAT

  • Re-mortgage of a freehold property –0.5% of the open market value, subject to a minimum fee being charged of £750 + VAT

  • Re-mortgage of a leasehold property –0.5% of the open market value, subject to a minimum fee being charged of £950 + VAT

The above indicative costs are illustrative only and provide a general indication as to costs only. Please contact Hague & Dixon LLP to obtain a specific cost estimate for your individual instruction.

In the event that the property involved in your transaction has a value of £500,000.00 or more, please contact Hague & Dixon LLP to discuss your needs.

If Hague & Dixon LLP have to send money by bank transfer to a third party or you during a transaction, this will incur a £25.00 + VAT administration charge, plus the fee raised by the bank for the transfer of £5.00 + VAT, total per transfer £36.00.

 

Other Costs: Called Disbursements
As well as fees payable to Hague & Dixon LLP for the legal advice involved in a conveyancing matter, you will also need to budget for Disbursements.
Disbursements are expenses which we have to pay to others as part of your transaction. The actual disbursements payable will depend upon your individual transaction, but typical estimated disbursements may include:

ON PURCHASE
Search Fees

  • Local Authority Search fee – £50 – £350 + VAT depending upon where the property is located
  • Environmental Search fee – £50 + VAT
  • Drainage Search fee – £45 + VAT

Fees payable to HM Land Registry

  • Land Registry Search fee – £3 + VAT
  • Land Charge Search fee – £2 + VAT per person named in the transaction
  • Land Registry fee – £40 – £910 depending upon the purchase price

Fees payable to HMRC

  • Stamp Duty Land Tax – the amount payable will depend on the purchase price of your property and your particular circumstances but HMRC have a useful calculator available online, which you can access using this link https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax

Fees Payable to Other third parties

  • Notice fee payable to a Freeholder or Managing Agent if buying a leasehold property – 50 – 500 + VAT
  • Anti-Money Laundering search fee – £5 + VAT
  • Lawyerchecker fee – £12 + VAT
  • LMS Stars fee – £12 + VAT (depending upon your mortgage lender)

 

ON SALE
The typical disbursements are:

HM Land Registry fees

  • Land Registry fee – £6 + VAT for your title documents, plus £3 per supplemental document required
  • Land Charge Search fee – £2 + VAT per person named in the transaction

Fees payable to other third parties

  • Notice fee payable to a Freeholder or Managing Agent if buying a leasehold property – 50 – 500 + VAT
  • Not forgetting, you may also have your estate agents fees to pay if you are selling a property as well as your removals costs.

 

WHAT MAY EFFECT THE COSTS ESTIMATE GIVEN?
It is difficult to provide an exhaustive list, but some factors include;

  • Whether you are buying as an individual or as a couple
  • Whether you will be using a HTB ISA scheme for part of the deposit
  • Whether you are buying with or without mortgage finance
  • Whether the property is registered or unregistered
  • Any peculiar issues with the property
  • The value of the property you are selling or buying

Sometimes, information comes to light during the conveyancing process which impacts upon the cost estimate given at the outset. If the individual dealing with your matter considers that the cost estimate will need to be varied downwards or upwards you shall be made aware and any changes to cost agreed with you.

If you would like to discuss costs further please contact Hague & Dixon LLP.

 

KEY STAGES IN THE CONVEYANCING PROCESS
Every conveyancing transaction is different and the exact stages in the process will depend upon your individual circumstances. However, to assist we summarises below the key stages for you.

SALE

  • Taking your initial instructions and giving you advice, including an estimate of costs
  • Obtaining from HM Land Registry your property documents or if an unregistered property, investigating the title to your property. This shall include obtaining a redemption figure for your mortgage (if you have a mortgage)
  • Drafting the sales contract and associated documents and providing these to your buyers’ solicitor
  • Liaising with you in relation to enquiries raised by your buyers’ solicitor and responding to those.
  • Approving the transfer document drafted by your buyers’ solicitor
  • Sending the sales contract and transfer document to you for signature
  • Agreeing with you and your buyer’s solicitor the completion date (the day on which you will sell/move out of the property)
  • Exchanging contracts, which commits you to the sale and fixes the completion date
  • Completing the sale
  • Discharging your mortgage
  • Paying the estate agent
  • Accounting to you for balance of sale proceeds

 

PURCHASE AND RE-MORTGAGE

  • Taking your initial instructions and giving you initial advice to include a cost estimate
  • Obtaining your mortgage offer once issued by your lender and contacting your lender or lenders’ solicitor if necessary.
  • Receiving from your vendor’s solicitors the contract and title documents (if a purchase) otherwise obtaining the title documents from HM Land Registry and advising you on contract documents (purchases only)
  • Carrying out searches (see disbursements above) to investigate the title to the property.
  • Obtaining such other documentation as may be required and making enquiries of the vendor’s solicitor and drafting the transfer deed (if a purchase only)
  • Advising you on all documents and information received, preferably by way of a face to face meeting in our offices.
  • Discussing your mortgage offer with you
  • Obtaining your signature to the documentation relevant in your transaction.
  • Agreeing with you and your vendors’ solicitors a completion date (when you will move if a purchase of when the re-mortgage takes place)
  • Exchanging contracts, which commits you to the purchase and fixes the completion date (if a purchase)
  • Obtaining the monies needed from you and from your lender to complete the transaction.
  • Completing your purchase or re-mortgage
  • Dealing with payment of Stamp Duty Land Tax (SDLT) and notifying HMRC as may be relevant
  • Applying to HM Land Registry to change the ownership of the property
  • Providing you and your lender with the HM Land Registry title documents

 

IS THERE ANYTHING WHICH HAGUE & DIXON LLP WILL NOT INCLUDE AS PART OF THE CONVEYANCING PROCESS?
Hague & Dixon LLP exclude from their retainer with you all tax advice save for basic SDLT advice. In the event that there is a matter which the individual dealing with your transaction is unable to assist with, we shall endeavour to refer you to someone who may be able to help.

 

HOW LONG DOES THE CONVEYANCING PROCESS TAKE?
This is often the first question asked, as once you have decided to move understandably you would like to know when this will happen.
Typically, conveyancing transactions take 8 to 10 weeks, but it can be more or less depending upon your individual circumstances and the others involved if you are in a chain.
If you are a first time buyer, with no chain below or a cash buyer (without mortgage finance) the process could be quicker.
If you are in a lengthy chain, it is likely to take longer.
At Hague & Dixon LLP we pride ourselves on guiding you through the process and shall keep you fully informed throughout.