Costs information:
Our fees cover the work required to complete the matter, whether it is sale of your existing home and/or purchase of your new home or a commercial transaction, such as grant of lease, sale/purchase of a business, sale and purchase of companies etc. This is typically from start to finish. If the matter does not complete, you will be charged an abortive fee based on the time spent but it should not exceed the overall quote unless the matters are protracted. We will let you know of any charges in advance.
The costs have been worked out on the basis that this is a fairly standard transactions and without there being any complications. Furthermore, there is only one set of title deeds and we will be easily able to establish source of your funds/wealth in respect of the property. Like most firms, our fees do not cover each and every eventuality and issues in relation to the transaction. Therefore, the figures stated are merely guidelines. Please contact us for a bespoke quote during which we will establish the factors which might affect the costs and any proposed timeline. There is no charge for establishing the costs and if you so wish, you can either telephone us or make an appointment for a face to face meeting.
Giving a fixed costs quote remains our preference as it provides certainty to our clients.
Please see below the factors which will affect the time and the costs.
Our fees:
Our fees are typically charged based on the value of the property, class of title, complexity of the matter, number of parties involved, nature of the client (i.e. whether it is a company or a person or if it is the person) and therefore, we can only offer a range of fees.
Residential Freehold Properties:
| Mortgage / Re-mortgage | £450.00 – £2,500.00 |
| Transfer of equity | £450.00 – £2,500.00 |
| Transfer and mortgage | £750.00 – £3,000.00 |
| Sale | £900.00 – £3,500.00 |
| Purchase | £1,000.00 – £3,500.00 |
Leasehold properties:
Same fees as residential freehold properties applies. However, as there is lease involve, there is an additional charge of £150.00 plus VAT where it is sale of a leasehold property and £250.00 plus VAT where it is purchase of a leasehold property. Please note that there would be fee relating to any management company and/or the landlord to provide information to assist in the sale of leasehold property (usually payable by the seller) and to deal with registration of the leasehold property (usually payable by the buyer). These are not our fees. We simply collect any such fees from the client and pass these on to the landlord/ management company or any other third party as the case may be.
Commercial Property and/or business sales:
Each transaction is different and as such it is not possible to give information. However, typically our prices start from £3,500.00 plus VAT plus any disbursements.
Following costs also apply regardless of the transaction:
| ANB Law Solicitors’ fees for completing stamp duty land tax return in the event of purchase of a property or acting for a tenant when taking on a business lease | £95.00 |
| ANB Law Solicitors’ fees for dealing with electronic transfer of funds (per transfer)- for example, monies sent to pay off your mortgage or to return the balance due to you | £35.00 |
| ANB Law Solicitors’ fees for requesting and reviewing the results of electronic identification and verification, raising any further enquires if needs be (per person) | £20.00 |
Please note that all above items attract VAT at the current rate of 20%.
Disbursements:
These are the fees payable to third parties for and on behalf of our clients.
Following is a list of most commonly encountered disbursements. The disbursements depend on the matter and price charged by the third parties at the point of incurring these. For example, search costs will usually vary from one council to another council for the same search. It is, therefore, difficult to set out exact amounts which might be payable. Please contact us and we will work this out for you free of charge.
- Official copies of the deeds- £7.00 per document
- Bankruptcy search fee – £6.00 per name
- Official search of the title deeds – £7.00 per document
- Local authority search – Variable
- Drainage search- Variable
- Environmental search- Variable
- Chancel repairs search – Variable
- Companies House search – Variable
- Fee payable to third party in respect of undertaking electronic identification and verification (per person) – £17.94
- HM Land Registry fee to register the property in your company’s name – dependent on value of the property. Please use HM Land Registry website to ascertain the costs.
- Companies House registration of legal charge – £23.00 per company per property
- Stamp Duty Land Tax – please use HM Revenue and Customs website to ascertain this.
Should any further disbursements arise during the transaction or the amount payable in respect of the disbursements alter, we will advise you accordingly and these will be payable by you. If the circumstances of your transaction change or become more complex, our fees may change. We will inform you of any such changes in advance.