Pricing

Residential Conveyancing for Individuals (i.e. not corporate bodies)

The fees of Perrin Myddelton Solicitors that we mention below are for the conveyance of residential real property or real estate owned by individuals which comprise:-

Conveyancing

FREEHOLD OR LEASEHOLD SALES OR PURCHASES

Our Fees

Our fees for a straightforward sale of a client’s freehold residence up to a price of £1.5 million typically range between £1,500.00 and £2,500.00 plus VAT and disbursements.

Our fees for a straightforward purchase of a freehold property for the client’s own residence (other than new build) up to a price of £1.5 million typically range between £1,750.00 and £2,750.00 plus VAT and disbursements.

Our fees for a straightforward sale of a client’s leasehold residence up to a price of £1.5 million typically range between £2,250.00 and £3,250.00 plus VAT and disbursements.

Our fees for a straightforward purchase of a leasehold property for the client’s own residence (other than new build) typically range between £2,500.00 and £3,000.00 plus VAT and disbursements.

New Build

If you are buying a property for your own residence that is under construction or has recently been constructed, so that you will be the first occupiers of it, then our above typical fee ranges for freehold and leasehold purchases may be increased by a reasonable amount to reflect the additional work involved.

Joint purchases

If our client comprises two or more individuals jointly purchasing a property for their own residence then they may, depending on the circumstances, need to take financial and/or legal advice as to the basis on which they are jointly buying and enter into a co-ownership agreement setting out details of their contributions towards the purchase cost and their financial and other responsibilities going forward including what happens if the clients part company or one of them dies. We will be able to provide guidance in such a situation (and there is usually no issue in the case of the client being a married couple, for example) but in some cases it may be necessary for each party to take independent advice prior to exchange of contracts. We will propose a reasonable fee for drawing up a co-ownership agreement or other appropriate documentation in the light of your requirements and the background circumstances.

Disbursements

Disbursements are costs related to your sale and/or purchase which are payable to third parties and which are necessary to be expended to progress your sale and/or purchase.

In relation to a sale these are likely to be minor and would comprise mainly Official Copy Entries of Land Registry Title £3.00 per document – budget for say £21.00.

In the case of the sale of leasehold properties, a fee may be payable to the landlord or managing agents for providing a legal pack.

In relation to a purchase these are as follows:-

Search fees

Various searches need to be made to ensure that there is nothing untoward in relation to the property you are acquiring. The searches we typically make are as follows:-

• Local Authority Search
• Drainage Search
• Chancel Check Search (to ascertain potential liability for chancel repairs)
• Environmental Report
• Ground Stability Report

N.B. The fees for these can vary but typically you should budget to expend up to about £500.00 on these on a typical residential purchase.

HM Government Land Registry fees

These vary depending on the purchase price. We are members of the Land Registry Portal which enables applications to be made online at discounted fees. These range between minimum £20.00 and maximum £500.00.

Stamp Duty Land Tax (payable on a purchase of residential property)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s website:-

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Or if the property is located in Wales by using the Welsh Revenue Authority’s website here:-

https://beta.gov.wales/land-transaction-tax-calculator

Money Laundering Charges

A mandatory requirement is imposed on us to verify your identity.  For this we charge a minimum document production fee of £8.00 plus VAT and a verification fee of (£6 plus VAT natural person) (£12 plus VAT couples), (£12 plus VAT non-natural entity) (i.e. limited company) (£9 plus VAT for individuals based abroad where there is no UK address).

Individual includes individuals where Director and/or company shareholders

1. Standard UK citizen and resident in the UK (£20.00 plus VAT) per individual – £24.00
2. Overseas citizen with UK address (£20.00 plus VAT) per individual – £24.00
3. Overseas citizen with NO UK address (£40.00 plus VAT) per individual. If the client is not using the link to upload details, the passport must be supplied in colour in electronic form. – £48.00
4. Any additional checks required due to incomplete information or failure to pass the electronic check will be charged at (£20.00 plus VAT) for each subsequent attempt to pass ID. – £24.00
5. Initial ID is completed using an electronic search company First AML. They will send through a link to either your mobile phone or email. It is important that you complete the upload of your information as soon as you receive the link. We are not responsible for delays caused by not providing your ID. If you are unable to do so electronically your Fee Earner will explain the alternatives available.

Company identification checks

1. Standard UK company with UK trading address (£20.00 plus VAT) – £24.00
2. Overseas company with UK trading address (£40.00 plus VAT) – £48.00
3. Overseas company with NO UK trading address (a minimum of £60.00 plus VAT) – £72.00
4. In all cases there will be additional charges for individual Directors and Shareholders.
5. Where the Company is owned by a group, there will be further charges for each holding company including the ultimate holding company, in line with the charges described above.
6. Initial ID is completed using an electronic search company First AML. They will send through a link to either your mobile phone or email. It is important that you complete the upload of your information as soon as you receive the link. We are not responsible for delays caused by not providing your ID. If you are unable to do so electronically your Fee Earner will explain the alternatives available.

Money Transfer fee (purchase or transmission of sale proceeds to you)

There is a fee to telegraph monies from our client account of £35.00 plus VAT.

For more information please contact Tiana Daley (Head of Residential Conveyancing) on 01582 466145 – email: t.daley@pmsolicitors.co.uk.  Please see “Our People” for information on Tiana Daley.

FACTORS THAT MAY AFFECT AND INCREASE THE LEVEL OF FEES WE CHARGE AND THE TIME TAKEN TO COMPLETE THE MATTER (N.B. This list is not exhaustive)

• If it transpires that the legal title to the property you are buying is unregistered.
• If it transpires that building regulations or planning permissions have not been obtained in connection with the construction of the property you are buying or relevant planning permission conditions have not been complied with.
• If crucial documents are missing or documents that we have requested from you to advance a sale or purchase have not been provided by you.
• If there are private mortgages or more than one mortgage on the property being sold that need to be redeemed.
• If the property you are acquiring is leasehold and not freehold.
• If we are not on the panel of the lender that you wish to use to acquire the property.
• If there is a lengthy chain of transactions upon which your sale or purchase is dependent.
• If the property you are acquiring is being sold by executors or administrators as part of the estate of the deceased owner of the property. Delays may arise and special contractual provisions may be required.
• If the property you are acquiring is subject to a tenancy.
• If it transpires that the Lease that you are acquiring has a residual term that is too short to be mortgageable and therefore an extension of the Lease has to be negotiated.
• If the property your are buying is new build.

How long will my house purchase 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 takes between 8-12 weeks.

It can take longer depending on the parties in the chain and the other factors mentioned above. For example, if you are a first time buyer, purchasing a new build property with a mortgage. However if you are buying a leasehold property that requires an extension of the lease this can take significantly longer. In such a situation additional charges would apply.

In all cases we will discuss the timing implications and advise accordingly.

LITIGATION

Debt Recovery for business

Please note we are talking here of debt recovery up to a value of £100,000.00 and not beyond and undisputed.  Our fee for a basic pre-action letter to recover a debt is £95.00 plus Value Added Tax.

N.B.1 If the alleged debtor challenges the claim to recover the debt then we will need to consider the nature of the defence and take your full instructions.  We will then seek to give you as detailed a written estimate of costs as possible having regard to the fact that the alleged debtor challenging the claim is likely to mean that court proceedings will follow in which you may face a counterclaim.

N.B.2 Our estimate will reflect the likely complexity of the matter.  It is unlikely that we will be able to give you any fixed fee proposal for the work.  After providing an initial estimate we will:-

• Require you to formally instruct us in writing and pay upfront the amount of the initial estimate.

• Thereafter we will notify you if our costs on a recorded time basis are likely to exceed or have exceeded the estimate. In this case you will be required to provide further top up monies, the level of which will be advised at the time having regard to the progress so far on the claim and anticipated likely future time to be spent.

• We will bill you monthly during the progress of the claim having regard to recorded time spent.

Our current charge hourly charge out rates for litigation work are as follows:-

Partner – These range between £250.00 and £300.00 per hour depending on the circumstances

Associate – £200.00 – £250.00 per hour

Court fees

If the matter proceeds to court there are civil court fees payable.  These are a disbursement that you must pay and we will require payment of the court fees upfront before issuing proceedings.  If a Judgment is given for you then there are further fees for civil enforcement.  We set out below the current civil court fees and fees for civil enforcement proceedings:

Civil Court fees

Issuing Claims

Starting your Claim

Money Claims

To issue a claim for money the fees are based on the amount claimed including interest.  For Court issued claims please round fractions of pence down to the nearest penny.  Example: A fee calculated as being £1,050.5096 rounds down to a payable fee of £1,050.50.

*Maximum amount for Secure Data Transfer (SDT) or Money Claim Online (MCOL) £99,999.99

Secure Data Transfer is a secure system to enable customers issuing in bulk to upload and transfer data files directly from their systems to HM Courts & Tribunals Service systems.

Civil Enforcement proceedings

If the court has ordered someone to pay you a sum of money or to return your goods, property or land and they have not done so, you can issue enforcement proceedings.

Order to obtain information from a debtor

Warrants

 Writs (High Court only)

Where a warrant or writ of delivery or possession also includes a claim for money, there is no additional fee.

Attachment of Earnings

On a consolidation attachment of earnings order a fee of 10p for every £1, or part £1, of money paid into court, is deducted from the money before it is paid out to creditors.

Enforcing an award in the County Court

Enforcing an aware in the High Court

Charging Order

Third party debt order

 Judgement summons

 Certified Enforcement Agent Application

For all Civil Magistrates fees please refer to the Magistrates’ Courts fees order www.legislation.gov.uk

For more information please contact Simon Braun on 01582 466163 – email: s.braun@pmsolicitors.co.uk.  Please see “Our Team” for information on Simon Braun.