At Woolsey Morris & Kennedy we pride ourselves on providing our clients with clear and transparent details of the costs involved giving you peace of mind and reassurance at a difficult time.
Whenever possible we will provide you with a fixed fee for the work we carry out on your behalf. This fixed fee is based on what we consider to be a reasonable fee for the property value together with the risk consideration.
For Sales and Purchases, depending upon the complexity of transaction and the number of parties in the chain, we aim to exchange contracts within 12 weeks of being instructed and complete the transaction within 16 weeks. However, these time frames can vary and we will be able to give you a more accurate idea of time frame when we know the nature of the transaction.
For re-mortgages we hope to complete these within 8 to 12 weeks, but this will depend upon the requirements of the lender, obtaining the required search results and how quickly the mortgage offer is issued. We will provide you with a dedicated and experienced solicitor to work on your matter.
Fee Structure - Freehold Purchase and Sales
| Property Purchase Price (up to) | Purchase Fees | Plus VAT | Total | Sale Fees | Plus VAT | Total |
|---|---|---|---|---|---|---|
| £350,000.00 | £995.00 | £199.00 | £1,194.00 | £925.00 | £185.00 | £1,110.00 |
| £400,000.00 | £1,030.00 | £206.00 | £1,236.00 | £995.00 | £199.00 | £1,194.00 |
| £450,000.00 | £1,085.00 | £217.00 | £1,302.00 | £1,030.00 | £206.00 | £1,236.00 |
| £500,000.00 | £1,140.00 | £228.00 | £1,368.00 | £1,085.00 | £217.00 | £1,302.00 |
| £550,000.00 | £1,195.00 | £239.00 | £1,434.00 | £1,140.00 | £228.00 | £1,368.00 |
| £600,000.00 | £1,250.00 | £250.00 | £1,500.00 | £1,195.00 | £239.00 | £1,434.00 |
| £650,000.00 | £1,305.00 | £261.00 | £1,566.00 | £1,250.00 | £250.00 | £1,500.00 |
| £700,000.00 | £1,415.00 | £283.00 | £1,698.00 | £1,305.00 | £261.00 | £1,566.00 |
| £750,000.00 | £1,525.00 | £305.00 | £1,830.00 | £1,415.00 | £283.00 | £1,698.00 |
| £800,000.00 | £1,635.00 | £327.00 | £1,962.00 | £1,525.00 | £305.00 | £1,830.00 |
| £850,000.00 | £1,745.00 | £349.00 | £2,094.00 | £1,635.00 | £327.00 | £1,962.00 |
| £900,000.00 | £1,855.00 | £371.00 | £2,226.00 | £1,745.00 | £349.00 | £2,094.00 |
| £950,000.00 | £1,965.00 | £393.00 | £2,358.00 | £1,855.00 | £371.00 | £2,226.00 |
| £1,000,000.00 | £2,075.00 | £415.00 | £2,490.00 | £1,965.00 | £393.00 | £2,358.00 |
| £1,100,000.00 | £2,185.00 | £437.00 | £2,622.00 | £2,075.00 | £415.00 | £2,490.00 |
| £1,200,000.00 | £2,295.00 | £459.00 | £2,754.00 | £2,185.00 | £437.00 | £2,622.00 |
| £1,300,000.00 | £2,405.00 | £481.00 | £2,886.00 | £2,295.00 | £459.00 | £2,754.00 |
| £1,400,000.00 | £2,515.00 | £503.00 | £3,018.00 | £2,405.00 | £481.00 | £2,886.00 |
| £1,500,000.00 | £2,625.00 | £525.00 | £3,150.00 | £2,515.00 | £503.00 | £3,018.00 |
| £1,600,000.00 | £2,735.00 | £547.00 | £3,282.00 | £2,625.00 | £525.00 | £3,150.00 |
| £1,700,000.00 | £2,845.00 | £569.00 | £3,414.00 | £2,735.00 | £547.00 | £3,282.00 |
| £1,800,000.00 | £2,955.00 | £591.00 | £3,546.00 | £2,845.00 | £569.00 | £3,414.00 |
| £1,900,000.00 | £3,065.00 | £613.00 | £3,678.00 | £2,955.00 | £591.00 | £3,546.00 |
| £2,000,000.00 | £3,175.00 | £635.00 | £3,810.00 | £3,065.00 | £613.00 | £3,678.00 |
Leasehold transactions will attract an additional fee of £180 inclusive of VAT in addition to the fees quoted above.
Additional fees may apply in the following circumstances:-
- Acting for more than one lender
- Preparing Declarations of Trust
- Preparing Deed of Variations to leases
- Acting on lease extensions as part of a sale /purchase
- Dealing with gifted deposits
- Transactions which require exchange to take place within 28 days from instruction
- Preparing Access Agreements
- Preparing Statutory Declarations or Declarations of Solvency
- Acting on Leasehold matters which include a Share of Freehold
- Acting on Help to Buy or Shared Ownership transactions
- Dealing with third party interests such as Interim Charging Orders, Matrimonial Homes Notices and Restrictions
- Expedited completions taking place within 2 weeks from exchange of contracts
- Acting on New Build transactions and transfers of part
Please note that the following disbursements will be payable in addition to the fees quoted above:
- Stamp Duty Land Tax will be payable on a purchase and the actual amount payable is dependant on the purchase price. You can find out how much is payable by reading the guidance on HM Inland Revenue's website https://www.gov.uk/government/collections/stamp-and-property-taxes-manuals
- Land Registry Registration fees will be payable on a purchase using the Scale 1 Fees which can be found by following this link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
- A bankruptcy search will be required on a purchase matter at a cost of £2.00 per name
- A Pre-Completion priority search is undertaken on a purchase cost of between £3-5 per title number
- On a purchase your lender will require that the usual property searches are carried out against the property. The cost of these searches will vary depending on the location of the property and the searches deemed required for each particular Property being searched. We estimate the cost of these searches can vary from £350-500.00 per search pack ordered. We will only ever obtain the Official Local Authority Search, never a cheaper personal search. This gives you the best protection should the situation arise where the local search is incorrect or incomplete. Personal Searches are carried out by third party agents so there is always a greater risk of information being missed or being incorrect.
- Bank Transfer fees will be payable on each CHAPS payment made at a cost of £36.00 inclusive of VAT per payment
- On a sale we will be required to obtain Land Regsitry Official Copies. As an indication these fees are £6.00 on a freehold sale and £15.00 on a leasehold sale. If additional documents are noted on the title register and are required to be supplied to the buyers then these will be obtained at a cost of approx £3.00 per document.
Remortgages
| Property Value (up to) | Freehold Legal Fees | Plus VAT | Total |
|---|---|---|---|
| £500,000.00 | £550.00 | £110.00 | £660.00 |
| £750,000.00 | £600.00 | £120.00 | £720.00 |
| £1,000,000.00 | £650.00 | £130.00 | £780.00 |
| £1,250,000.00 | £700.00 | £140.00 | £840.00 |
Leasehold transactions will attract an additional fee of £180 inclusive VAT in addition to the fees quoted above.
Additional fees may apply in the following circumstances:-
- Acting on a Buy to Let mortgage
- If a Transfer of Equity is required
- Preparing Deed of Variations to leases
- Acting on lease extensions as part of a remortgage
- Transactions which require completion within 8 weeks from instruction
- Preparing Statutory Declarations or Declarations of Solvency
- Acting on Help to Buy or Shared Ownership transactions
- Dealing with third party interests such as Interim Charging Orders, Matrimonial Homes Notices and Restrictions
Please note that the following disbursements will be payable in addition to the fees quoted above:
- Land Registry Registration fees will be payable using the Scale 2 fees on a remortgage which can be found by following this link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
- A bankruptcy search will be required on a remortgage at a cost of £2.00 per name
- A Pre-Completion priority search is undertaken on a remortgage at a cost of between £3-5 per title number
- On a remortgage your lender may require that the usual property searches are carried out against the property. The cost of these searches will vary depending on the location of the property and the searches deemed required for each particular Property being searched. We estimate the cost of these searches can vary from £350-500.00 per search pack ordered. We will only ever obtain the Official Local Authority Search, never a cheaper personal search. This gives you the best protection should the situation arise where the local search is incorrect or incomplete. Personal Searches are carried out by third party agents so there is always a greater risk of information being missed or being incorrect.
- Bank Transfer fees will be payable on each CHAPS payment made at a cost of £36.00 inclusive of VAT per payment.
- On a remortgage we will be required to obtain Land Regsitry Official Copies. As an indication these fees are £6.00 on a freehold property and £15.00 on a leasehold property. If additional documents are noted on the title register and are required then these will be obtained at a further cost of £3.00 per document.