General Guidance to Clients on Fixed Fee Property Transactions

Please let us know if you need this information in large print or have any other specific needs and we will do our best to assist.

Introduction

Thank you for considering Kitson & Trotman for your property transaction(s). Below, we set out some pricing and other information about the different types of transactions where a fixed fee is offered for residential conveyancing including a mortgage or re-mortgaging. The information explains the relevant process and the likely timescales so you are aware of the progress of your matter and can plan your own arrangements e.g. moving, more easily.  If you have any queries, please do let us know.

Please note that this information does not cover more complex and non-routine residential property or any commercial transactions although we are happy to discuss your specific needs and provide a tailored work plan and cost estimate if you would like one.

For avoidance of doubt, the information does not relate to property transactions outside of England and Wales.

Other factors may increase the cost of our service, such as, for example, where it is found that the legal title to the property is defective or part of the property is unregistered or the necessary building regulations or planning permission has not been obtained or where crucial documents for which we have asked you, have not been provided.

You are welcome to look at the Legal Choices website which aims to help consumers understand legal costs and assist them in choosing the right lawyer for their needs https://www.legalchoices.org.uk/  We hope you will choose our firm and promise you a dedicated personal and efficient service.

Our advisers

Our work is carried out by qualified solicitors, legal executives and licensed conveyancers specialising in property law. Please see about-us/ for details of our specialist legal professionals.  Our website also has details of the services we offer under the ‘Services’ tab’ and our offices and contact details

The Property Team is supervised by Jason Hodnett, a partner in the Firm, who specialises in residential, commercial and agricultural property matters.  Jason has wide experience of agricultural, commercial and residential property transactions including acquisitions and disposals of freehold and leasehold property, landlord and tenant work (acting both for landlords and tenants) and development and investment matters. Jason also manages business purchases and disposals and general property management work.

Jason is a member of the Commercial Real Estate Lawyers Association and the Agricultural Law Association and attained a Fellowship of the Agricultural Law Association in 2009.

Complaints

We want to give you the best possible service.  If, however, at any point you become unhappy or concerned about the service we have provided, please inform us immediately so that we can do our best to resolve the problem.

In the first instance it may be helpful to contact the person who is working on your case to discuss your concerns and we will do our best to resolve any issues at this stage. If you would like to make a formal complaint, then you can read our full complaints procedure by clicking this link /complaints-procedure Making a complaint will not affect how we handle your case.

We will always attempt to resolve any complaints, but where this is not possible, complaints and redress mechanisms are provided through the Solicitors Regulation Authority and the Legal Ombudsman. Details of what type of complaint each body can address and how and when to contact these bodies are given on the same link but please contact us if you would like any further help on this matter.

Key stages of the process

The precise stages involved in the purchase or sale of a residential property vary according to the circumstances. Some key stages may include:

Purchase

• Taking your instructions, requesting information from you and giving you initial advice;
• Checking and verifying that finances are in place to fund the purchase and contacting your lender (if any);
• Receiving and advising upon the contract documents;
• Carrying out the necessary property searches;
• Obtaining further planning documentation (if required);
• Making any necessary enquiries of your seller’s solicitor;
• Giving you advice on all documents and information received;
• Going through the conditions of mortgage offer with you (if you are having a mortgage);
• Sending the final contract to you for signature;
• Agreeing completion date (date from which you own the property) with all parties;
• Exchanging contracts and notifying you that this has happened;
• Arranging for all monies needed to be received from lender and you;
• Completing the transaction and/or mortgage;
• Dealing with notification of and payment of any Stamp Duty Land Tax;
• Dealing with the application for registration at Land Registry.

Sale

• Taking your instructions, requesting information from you and giving you initial advice;
• Contacting your lender (if applicable);
• Obtaining evidence of your title;
• Preparing the contract documents and approving the transfer deed;
• Checking the title information for the property;
• Responding to enquiries made by the buyer’s solicitor;
• Dealing with the repayment of your mortgage and communicating with your lender regarding the repayment (if you have a mortgage);
• Sending the documents to you for signature;
• Agreeing a completion date (date from which you sell the property) with all parties;
• Exchanging contracts and notifying you that this has happened;
• Accounting to you;
• Completing the transaction.

Please let us know if you would like any further information or wish to speak to us about your particular needs

How long will my house purchase or sale 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 currently takes about 11 weeks.

It can be quicker or slower, depending on the number of parties in the chain and their particular situation. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 4 to 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such, a situation additional charges would apply.

Basis of fixed fee estimates

Our fee estimates assume that:

1. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction such as a statement of truth about your use of the property or a deed to deal with a problem or discrepancy;
2. where a freehold is involved this is a transfer of whole and not part of the relevant land/titles;
3. where a lease is involved this is the assignment of an existing lease and is not the grant of a new lease;
4. the transaction is concluded in a timely manner and no unforeseen complication arise;
5. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
6. no indemnity policies are required e.g. policies for a lack of planning permission/building regulations consent or inadequate rights benefitting the property. Additional disbursements may apply if indemnity policies are required;
7. you will acquire vacant possession of the property or that you are selling with vacant possession.

Work outside the scope of our estimate/usual work

Additional work will be charged based upon an estimate of the time it will take to deal with the particular issue or matter based on the hourly charging rate of the fee earner dealing with your transaction.  We will attempt to agree any additional charges with you. If we cannot reach agreement, we will cease work and will charge you for the work undertaken up to that date.

Hourly charging rates are subject to review and increase, if necessary annually.  You will be advised of the relevant hourly rate and any increase or variation in the charging rate in writing.

VAT

Please note that value added tax (VAT) is added to our fees at the rate that applies when the relevant work is completed.

Disbursements

Please note that the ‘disbursements’ (costs related to your matter that are payable to third parties) are not usually within our direct control and the cost of disbursements quoted can increase or be more than shown.  Please note that VAT may be payable on disbursements. 

Fixed Fee for a Purchase of a Freehold Residential Property

Unless we agree with you otherwise, our fees will cover all of the work required to complete the purchase of your new home.  Our fees are as set out in the table below. We have summarised the extent of the work covered by the fee as follows:

• Obtaining information from your sellers and checking that the sellers have good title;
• Agreeing the terms of the contract for purchase and preparing the transfer deed;
• Exchanging contracts when everyone is ready and the completion (or moving) date has been agreed with the sellers.  Exchange of contracts is the stage at which you are legally bound to the transaction;
• Making the necessary pre-completion legal arrangements and checks;
• Obtaining the mortgage money from your new lender (if you are having a mortgage) and any balance we may need from you;
• On the completion date – paying for your new property and sending any balance due to you. Any such balance will be sent to you on the next working day once all the figures have been calculated;
• Following completion – registering your ownership at the Land Registry.  This process may take a couple of weeks or a few months, although this step makes no difference from your point of view.  We will let you know when registration has been completed by the Land Registry.  This step is important in establishing ownership rights and responsibilities;
• Dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.  This tax is set by the government and so will depend upon the rules and tax applicable at the time.  Please see below about how to calculate the tax likely to be payable;
• Handling and paying disbursements.   Disbursements are costs related 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.
• The disbursements will include
  • Standard search fees – these fees will depend on where a property is situated and what type of facilities that property may have. Typically, standard searches fees will cost between £250.00 and £350.00.
  • HM Land Registry fee – these fees are based on a scale which is set by HM Land Registry.  There are lower fees for applications that can be submitted via the HM Land Registry Portal. We submit all applications that can be submitted and accepted via the HM Land Registry portal.  Please note, however, that a higher fee is generally payable for ‘first registrations’, leases or transfers of part of one or more titles
  • Pre-completion searches £10.00 or so
  • AML Check Fee (currently) £7.20 per search/check.
  • Stamp Duty or Land Tax (on purchase) – see above. The amount payable depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website at https://www.gov.uk/stamp-duty-land-tax or if the property is located in Wales by using the Welsh Revenue Authority’s website at https://beta.gov.wales/land-transaction-tax-guide.

In addition to the fees referred to above our administration fee for arranging a CHAPS transfer (sometimes called a telegraphic transfer) is £36.00 per transfer, at present. We expect at least two transfers to be made on a purchase transaction.

Fixed Fee for Purchase of a Leasehold Residential Property

Unless we agree with you otherwise, our fees will cover all of the work required to complete the purchase of your new home.  Our fees are as set out in the table below. We have summarised the extent of the work covered by the fee as follows:

• Obtaining information from your sellers and checking that the sellers have good title;
• Agreeing the terms of the contract for purchase and preparing the assignment/transfer deed;
• Exchanging contracts when everyone is ready and the completion (or moving) date has been agreed with the sellers.  Exchange of contracts is the stage at which you are legally bound to the transaction;
• Making the necessary pre-completion legal arrangements and checks;
• Obtaining the mortgage money from your new lender (if you are having a mortgage) and any balance we may need from you;
• On the completion date – paying for your new property and sending any balance due to you. Any such balance will be sent to you on the next working day once all the figures have been calculated;
• Following completion – registering your ownership at the Land Registry.  This process may take a couple of weeks or a few months, although this step makes no difference from your point of view.  We will let you know when registration has been completed by the Land Registry. This step is important in establishing ownership rights and responsibilities;
• Dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales. This tax is set by the government and so will depend upon the rules and tax applicable at the time.  Please see below about how to calculate the tax likely to be payable;
• Handling and paying disbursements. Disbursements are costs related 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.
• The standard disbursements will include:
  • Standard search fees – these fees will depend on where a property is situated and what type of facilities that property may have. Typically, standard searches fees will cost between £250.00 and £350.00.
  • HM Land Registry fee – these fees are based on a scale which is set by HM Land Registry.  There are lower fees for applications that can be submitted via the HM Land Registry Portal. We submit all applications that can be submitted and accepted via the HM Land Registry portal.  Please note, however, that a higher fee is generally payable for ‘first registrations’, leases or transfers of part of one or more titles
  • Pre-completion searches £10.00 or so
  • AML Check Fee (currently) £7.20 per search/check.
• The leasehold disbursements may include:
  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 and £80.00 plus VAT but could be more.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 and £80.00 plus VAT but could be more.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 and £180.00 plus VAT but could be more.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £75.00 and – £150.00 plus VAT.

  Please note: there are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out above. This list is not exhaustive and other disbursements may apply depending on the terms of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.  These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents

• Stamp Duty or Land Tax (on purchase) – see above. The amount payable depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website at https://www.gov.uk/stamp-duty-land-tax or if the property is located in Wales by using the Welsh Revenue Authority’s website at https://beta.gov.wales/land-transaction-tax-guide.

In addition to the fees referred to above our administration fee for arranging a CHAPS transfer (sometimes called a telegraphic transfer) is £36.00 per transfer, at present.  We expect at least two transfers to be made on a purchase transaction.

Ground rent and service charges

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.  

Fixed Fee for the Sale of a Residential Freehold Property

Unless we agree with you otherwise, our fees will cover all of the work required to complete the sale of your existing home/property.  Our fees are as set out in the table below. We have summarised the extent of the work covered by the fee as follows:

• Obtaining all necessary information about the property from you;
• Obtaining the Title Deeds and/or Land Registry Title Information for the Property;
• Preparing and submitting the contract documents to the buyers’ conveyancers;
• Assisting in responding to enquiries raised by the buyer’s conveyancers;
• Exchanging contracts when everyone is ready and the completion (or moving) date has been agreed with the buyers.  Exchange of contracts is the stage at which you are legally bound to the transaction;
• (If applicable) obtaining a redemption figure from your mortgage lender in respect of any finance you may have secured against the property;
• On the completion date:
  • receiving the sale monies from the buyers’ conveyancers
  • sending the buyer’s conveyancers any Title Deeds and other documentation relating to the property;
  • (if applicable) redeeming your mortgage; and
  • sending any balance due to you.  Please note that any such balance will be sent to you on the next working day once all the figures have been calculated.
• Handling and paying disbursements. Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees to obtain a copy of your Land Registry title. We handle the payment of the disbursements on your behalf to ensure a smoother process.
• The disbursements will include
  • Land Registry title information – these fees will depend on how many titles that you own and how may documents are referred to in the title(s) which can be downloaded or ordered.  Typically, standard searches fees will cost £3.00 per document although charges can be higher.  We estimate between £6.00 and £18.00 will usually cover the relevant fee.
  • AML Check Fee (currently) £7.20 per search/check.

In addition to the fees referred to above our administration fee for arranging a CHAPS transfer (sometimes called a telegraphic transfer) is £36.00 per transfer, at present. We expect at least one transfer to be made on a sale transaction.

Fixed Fee for the Sale of a Residential Leasehold Property

Unless we agree with you otherwise, our fees will cover all of the work required to complete the purchase of your new home.  Our fees are as set out in the table below. We have summarised the extent of the work covered by the fee as follows:

• Obtaining all necessary information about the property from you;
• Obtaining the Title Deeds and/or Land Registry Title Information for the Property;
• Preparing and submitting the contract documents to the buyers’ conveyancers;
• Assisting in responding to enquiries raised by the buyer’s conveyancers;
• Exchanging contracts when everyone is ready and the completion (or moving) date has been agreed with the buyers.  Exchange of contracts is the stage at which you are legally bound to the transaction;
• (If applicable) obtaining a redemption figure from your mortgage lender in respect of any finance you may have secured against the property;
• On the completion date:
  • receiving the sale monies from the buyers’ conveyancers
  • sending the buyer’s conveyancers any Title Deeds and other documentation relating to the property;
  • (if applicable) redeeming your mortgage; and
  • sending any balance due to you.  Please note that any such balance will be sent to you on the next working day once all the figures have been calculated.
• Handling and paying disbursements.   Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees to obtain a copy of your Land Registry title. We handle the payment of the disbursements on your behalf to ensure a smoother process.
• The disbursements will include
  • • Land Registry title information – these fees will depend on how many titles that you own and how may documents are referred to in the title(s) which can be downloaded or ordered.  Typically, standard searches fees will cost £3.00 per document although charges can be higher.  We estimate between £6.00 and £18.00 will usually cover the relevant fee.
    • AML Check Fee (currently) £7.20 per search/check.
    • (If applicable) obtaining management information from the landlord/freeholder or their managing agent.  Typically, £150.00 to £250.00 plus VAT.  Please note that some developments can require management information from more than one source at more than one fee.

  Please note: The disbursements which we anticipate will apply are set out above. This list is not exhaustive and other disbursements may apply depending on the term of the lease and/or location and whether there are superior leases or interests. We will update you on the specific fees upon receipt and review of the lease and the requirements of the landlord/freeholder or their managing agent.These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have the relevant information

In addition to the fees referred to above our administration fee for arranging a CHAPS transfer (sometimes called a telegraphic transfer) is £36.00 per transfer, at present. We expect at least one transfer to be made on a sale transaction.

Mortgage or Re-mortgage of a Freehold or Leasehold Property

Unless we agree with you otherwise, our fees will cover all of the work required to complete the mortgage/re-mortgage of your property.  Our standard fees are as set out in the table below. We have summarised the extent of the work covered by the fee as follows:

• Obtaining information from the Land Registry and checking the property title;
• Obtaining information from you;
• Making the necessary pre-completion legal arrangements and checks;
• Obtaining the mortgage money from your new lender;
• On the completion date – completing the mortgage, redeeming your existing mortgage and sending any balance due to you.  Any such balance will be sent to you on the next working day once all the figures have been calculated;
• Following completion – Registering the charge at the Land Registry.  This may take a couple of weeks or a few months, although this makes no difference from your point of view.  We will let you know when this has been dealt with by the Land Registry;
• Acting for your mortgage lender to ensure that their interests are also properly protected.
• Handling and paying disbursements.   Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees to obtain a copy of your Land Registry title. We handle the payment of the disbursements on your behalf to ensure a smoother process.
• The disbursements will include
  • Standard search fees – these fees will depend on where a property is situated and what type of facilities that property may have. Typically, standard searches fees will cost between £200.00 and £300.00. OR
  • Search indemnity insurance.  These fees will depend on whether the relevant lender will accept search insurance and the value of the property and mortgage. Typical standard search fees are between £30.00 and £75.00 but can be much more
  • HM Land Registry fee – these fees are based on a scale which is set by HM Land Registry.  There are lower fees for applications that can be submitted via the HM Land Registry Portal. We submit all applications that can be submitted and accepted via the HM Land Registry portal.  Please note, however, that a higher fee is generally payable for ‘first registrations’, leases or transfers of part of one or more titles
  • Pre-completion searches £10.00 or so
  • AML Check Fee (currently) £7.20 per search/check.
• (If leasehold) the leasehold disbursements may include:
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 and £80.00 plus VAT but could be more.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £75.00 and – £150.00 plus VAT.
  • (If applicable) obtaining management information from the landlord/freeholder or their managing agent.  Typically, £150.00 to £250.00 plus VAT.  Please note that some developments can require management information from more than once source at more than one fee.
• (if leasehold) Please note: The disbursements which we anticipate will apply are set out above. This list is not exhaustive and other disbursements may apply depending on the term of the lease and/or location and whether there are superior leases or interests. We will update you on the specific fees upon receipt and review of the lease and the requirements of the landlord/freeholder or their managing agent.These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have the relevant information

Examples of situations where extra charges may be made in mortgage/re-mortgage transactions. Additional fees may be charged if:

• unforeseen matters arise including, for example (but not limited to), a defect in title (including the lease) which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
• the mortgage relates to part only and not the whole of the relevant land/titles.
• the mortgage is a second charge or if there is more than one mortgage that is to be redeemed as part of the process.
• the property is occupied under an assured shorthold tenancy or similar type of occupancy.

In addition to the fees referred to above our administration fee for arranging a CHAPS transfer (sometimes called a telegraphic transfer) is £36.00 per transfer, at present. We expect at least one transfer to be made on a mortgage or re-mortgage transaction.