Kiteleys Solicitors

Kiteleys Solicitors. 7 St. Stephen's Court, 15-17 St. Stephen's Road, Bournemouth, Dorset. BH2 6LA. Telephone 01425 278866.
Kiteleys Solicitors is the trading style of Kiteleys Solicitors Limited registered in England and Wales, registered number 03113721. VAT Registration No: 658 8813 79.
This firm is authorised and regulated by the Solicitors Regulation Authority. A list of directors is available for inspection at our registered office.

Conveyancing Costs

  • Call us now on 01202 708634
    • Kiteleys Canford Cliffs 01202 708634
    • Kiteleys Highcliffe 01425 278866
    • Kiteleys Wimborne 01202 849242
    • Kiteleys Ferndown 01202 875646
    • Kiteleys West Moors 01202 863933
    • Kiteleys Boscombe 01202 393506

Conveyancing Costs

Whilst it is now expected that a fixed price can be given for a straightforward transaction, there are many fees and costs which can arise making each case unique. In order to provide as much transparency as possible to prospective clients, we set out below some indicative bands based on our current charging structure. All prices are subject to VAT at the prevailing rate (currently 20%). However, we should stress that the best way to get a detailed estimate is to click the link HERE to obtain a detailed breakdown.

SALE PRICE LEGAL FEES LEASEHOLD MORTGAGE REDEMPTION FEE
£0 – £300,000 £925.00 £150.00 £75.00
£300,001 – £500,000 £999.00 £150.00 £75.00
£500,001 – £750,000 £1,075.00 £150.00 £75.00
£750,001 – £1,000,000 £1,375.00 £150.00 £75.00
Over £1,000,001 – £1,500.000 £1,999.00 £150.00 £75.00
Over £1,500,001 0.15% £150.00 £75.00
PURCHASE PRICE LEGAL FEES LEASEHOLD MORTGAGE PAYMENT FEE
£0 – £300,000 £925.00 £150.00 £150.00
£300,001 – £500,000 £999.00 £150.00 £150.00
£500,001 – £750,000 £1,075.00 £150.00 £150.00
£750,001 – £1,000,000 £1,375.00 £150.00 £150.00
Over £1,000,001 – £1,500,000 £1,875.00 £150.00 £150.00
Over £1,500,000 0.15%
REMORTGAGE PRICE LEGAL FEES TRANSFER OF EQUITY
All property values Up to £500,000 £595.00 £200.00
Over £500,000 £750.00
***all fees quoted are + VAT at the prevailing rate (currently 20%)
Disbursements
Bankruptcy Search £2.00 + VAT (Purchase Only)
Land Registry Priority Search £3.00 + VAT (Purchase Only)
Additional Fees
For the preparation and submission of a telegraphic transfer £35.00 + VAT (Sale and Purchase)
For the preparation and submission of the SDLT return £75.00 + VAT (Purchase Only) £99 plus VAT

 

  • All the fees shown above are subject to VAT at the prevailing rate (currently 20%).
  • Fees will be charged for transactions that do not proceed on the basis of the amount of work carried out
  • For any properties over £1m please note that a bespoke estimate of costs will be required.

Many factors determine the cost of a transaction, such as if the property is Leasehold, Freehold, New Build or Shared Ownership. Other determining factors can include Indemnity Policies, Lease Variations, Declarations of Trust and many others. It is impossible to list all of these variables and whether they will apply to your transaction however to assist we have included the more common ones above.

(Please note that we reserve the right to alter all our fees at any time and on a case by case basis depending on circumstances and at our discretion).

 

Sale and Purchase Disbursements

STAMP DUTY Please see links below.
SEARCHES Approx. £300 + VAT
LAND REGISTRY FEES PAYABLE Please see links below

 

Remortgage Disbursements

  • Title/Search insurance cost approx. £30 if accepted by your lender
  • Land Registry and land charges searches £2 per name and £3 per title plus VAT
  • An additional fee may be charged for redeeming any second or subsequent mortgages – ie any estimate assumes repayment of ONE mortgage only.
  • Bridging finance, Transfers of Equity, staircasing, shared ownership, Help to Buy schemes and non-standard lending require a bespoke quote.
  • Land Registry Fees – please see links below

Finally, there are payments that apply to every transaction and these are consistent amongst most conveyancing firms. These are often known as Disbursements, which are payments that have to be made to third parties to fulfill the requirements for transferring land. They include payments for:

  • Stamp Duty (SDLT or Welsh Land Transaction Tax depending on the location of the property). Always remember the tax you pay is self-assessment and we are not tax lawyers and cannot advise. To be sure that you pay the correct amount of tax you should consider taking specialist independent tax advice before committing to any purchase. Please click here to be taken to the basic HMRC web site calculator or here for the Welsh Land Transaction Tax Calculator.
  • Searches (of the local authority, mining searches, drainage searches, land registry searches, environment searches, area development searches and many more). You should budget approx. £300 plus VAT for searches depending on location and number and types of searches required.
  • Land registry fees payable – again these depend on the type of property, its value, and whether an electronic submission can be made. Please click here to access the land registry website for details.

Charging rates of the team:

Hourly rate (£) plus VAT

David Bridge Head of Conveyancing and Senior Solicitor 270.00
Guy Fearon Consultant Solicitor 270.00
Mark Stimson Consultant Solicitor 270.00
Nadia Choudhury Solicitor 250.00
Tracy Black Solicitor 200.00
Lucy Norris Solicitor 120.00

Conveyancing Time Scales

Typically 18 – 20 weeks.

All our clients understandably would like to know how long their matter may take and yet that is the one thing that no conveyancer can accurately predict. The average transaction time, according to the government, has lengthened (due to more vigorous requirements for anti-fraud investigations, money laundering checks, COVID-related lockdowns, SDLT holiday and other factors) with 18-20 weeks now being the average (as of 20.10.2020). Many matters can proceed quicker than this and we will always do our best to meet a client’s requirements.

COVID SDLT and Changes on 31st March 2021 – update

As many of you will know, recent government changes introduced an SDLT holiday which means that no tax is payable for many transactions and significantly reduced on others, depending on your circumstances. It is, however, well set out in the press and social media that during this time of pandemic, transactions are taking longer than many would like. These delays are unpredictable and caused by many factors such as lenders, local authorities, busy conveyancers, changes in client circumstances at short notice, delays at Land and Probate registries, delays in divorce courts – the list is endless.  And these are all in addition to the usual unpredictability of the English conveyancing system.

They amount to a current national average transaction time of 18-20 weeks (or nearly 5 months) making this an issue to be considered right at the outset of your transaction.

We are pleased to confirm that here at Kiteleys we are comfortably beating this average on many of our transactions but it is beholden on us, given that our purpose is to work with our clients and advise them in their best interests at all times – which is something we take very seriously – to note that we can in no way guarantee the time a transaction will take. As such, unless the Government change the current rules and scheme (which is always possible but equally unpredictable) , this means that if your purchase does not complete on or before 31st March 2021, you will have to revert to and pay tax under the previous rules which could mean paying up to an additional £15,000.

As we cannot know if the rules may change, we have to therefore advise all our clients starting a conveyancing matter, that timing cannot be guaranteed by Kiteleys and that as with any tax, it is your responsibility to be able to pay the tax due at any given time. We will, of course, do all we can to help any client achieve the goals that they have set but in return we do need our clients to be informed and realistic as to the dangers and complications they may face. Experience suggests that there is no such thing as a “simple transaction” and as we get nearer the current deadline, it is inevitable that stress will increase and frustration will become greater for those that are not prepared in advance.

So, we are advising all our clients and potential clients no matter who they instruct, to be aware of this issue right from the outset and to be realistic. “Plan for the worst” may well be one solution – by making sure that you have funds available to pay any additional tax should that become necessary, and another may be to make doubly sure you have a clear view on whether you would proceed with a transaction should the additional tax become payable.

Finally, we would also advise our clients to maintain a healthy realism as to promises made by other parties offering to guarantee a transaction time or to charge greater fees to “get it through in time”.  As you can see from the above (and from a quick look at the internet) such promises may well lead to disappointment and problems when it is too late to deal with them. It is, for this reason, we have chosen (as we always do) to be open and upfront with our clients and fulfil that basic important role that is at the heart of what we do as proud solicitors – to actually advise our clients so that they can make informed decisions at their own pace.

  • Tracy Black

    Tracy Black
    Solicitor

  • David Bridge

    David Bridge
    Solicitor - Head of Conveyancing

  • Nadia Choudhury

    Nadia Choudhury
    Solicitor

  • Lucy Norris

    Lucy Norris
    Solicitor

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Talk to one of our team

Call us on 01202 708634 or enquire online.

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Kiteleys Solicitors. 40 Haven Road, Canford Cliffs, Poole, Dorset. BH13 7LP. Telephone 01425 278866. Calls may be recorded and monitored.
Kiteleys Solicitors is the trading style of Kiteleys Solicitors Limited registered in England and Wales, registered number 03113721. VAT Registration No: 658 8813 79.
This firm is authorised and regulated by the Solicitors Regulation Authority, SRA ID 401309. A list of directors is available for inspection at our registered office.