We understand that dealing with a property is likely the largest transaction you will ever go through. we believe that it is important that you get a high quality service which is also good value for money.
The following information on costs and timing is intended as guidance as to the likely and does not constitute a contract to carry out the work at those costs. We will be happy to provide you with a quotation of the exact costs relating to your matter once we are aware of all the circumstances. You will be notified by letter, at the commencement of each matter that we undertake on your behalf, the basis upon which we will charge you.
We undertake all residential property work on a fixed fee basis and we will agree that fee with you before we commence work on your matter. Any indication of fees is an estimate only (whether stated to be an estimate or quotation). Whilst we endeavour to ensure that estimates are as accurate as possible, the actual fees that are incurred are subject to factors outside our control and you should therefore treat any estimate as a guide only. Any likely increase in cost would be discussed with you firstly before being incurred.
Our Fee Structure
0.125% of purchase price
plus VAT and disbursements
Disbursements are costs which we incur on your behalf but which are separate to our legal fees for undertaking the work on your matter.
- Bank Telegraphic Transfer (CHAPS): we charge £30 plus VAT per transfer (including our bank’s charge to us) to send funds by a same-day transfer.
- On all sale transactions we will obtain Land Registry Official Copy Entries, Plans or Documents at £3 per copy.
- On leasehold sale transactions: The Landlord/Managing Agent’s fees for supplying the leasehold management information can vary from provider to provider but we estimate these to be in the region of £200 – £400 inc VAT.
- For a purchase or remortgage the Land Registry charges a fee for registration of the change in ownership and/or charge against the property tile. Registration Fees are on a scale of between £20 – £910 (no VAT) depending mostly on the value of the property.
- On purchase or remortgage transactions we must carry out Land Registry Pre-Completion Searches against the property and the former owners – typically £7 (no VAT).
- On purchases and remortgages we will usually have to carry out a series of searches which reveal information held by various agencies (Local Authority, water company etc.) about the property. These usually come to around £340 inc VAT.
- On a leasehold purchase or remortgage there is usually a requirement to serve notice on the Landlord and/or Managing Agent about the change of ownership or new charge. They often have fees for confirming receipt of these notices and these can vary considerably from £30 to £400 depending on the landlord’s requirements.
Purchases, remortgages and transfers of equity may all incur Stamp Duty Land Tax liability. You can obtain a calculation of your likely tax liability using HMRC’s online calculator by following this link.
Please note NTR are not responsible for the content of external links and you should run your own checks before following any links to external sites.
|Leasehold property (per property)||£150.00|
|Where you are purchasing with a mortgage||£150.00 (per mortgage)|
|Preparation of Stamp Duty Land Tax Return (first property or replacement home)||£55.00|
|Telegraphic Transfer administration fee||£35.00 per Transfer|
|Money Laundering (ID and address) check for individual||£10.00|
|Where title to the property (or part of it) is unregistered||£150.00|
|Preparing or approving a Statutory Declaration||£75.00|
|Buying or selling a share of freehold in connection with a lease||£75.00|
|Preparing a standard Declaration of Trust setting out shares in the property (more complex Declarations may be charged at a higher fee)||£325.00|
|Sale or purchase subject to an existing tenancy (per tenancy)||£150.00|
|New build purchase||£150.00|
|Approving and agreeing a retention with the buyer’s/seller’s solicitors for a leasehold property||£100.00|
|Time spent corresponding with other Solicitors/conveyancers/estate agents etc on a related transaction on which we are not instructed||£150.00|
|Applying for your Help to Buy ISA bonus||£50.00|
|Where completion is delayed for any reason||£100.00|
|Where the period between exchange and completion is less than a week or exchange and completion occurs on the same day||£95.00|
|Preparing and negotiating a key access undertaking||£50.00|
|Obtaining an indemnity insurance policy||£25.00|
|Purchasing a shared ownership property (an initial or final share)||£150.00|
|Drafting an Assured Shorthold Tenancy||£95.00|
|Dealing with a completion and removal of a registered caution, restriction or notice||£50.00|
|Dealing with removal of a tenancy in common restriction||£25.00|
|Abortive fee if you withdraw from the transaction||£ TBC – this will be a proportion of the overall costs subject to the amount of work undertaken|
|Acting in relation to an auction sale||£175.00|
|Auction purchase (completing purchase after auction)||£175.00|