If you are happy with this quotation and would like us to proceed, please confirm your instructions. We will then send our Client Care Letter and Terms of Business, complete the necessary ID and source-of-funds checks, and provide details of any funds required on account. Once these are completed, we can open your file and begin work on your transaction.
Additional Charges & Disbursements: Please note that the fees and disbursements set out in this quotation are based on the information available to us at the time of preparation. Additional charges and/or disbursements may arise depending on the nature and circumstances of your matter.
If any additional work or costs become necessary during the course of the transaction, we will advise you as soon as reasonably practicable. Any additional fees will be discussed with you before the work is undertaken where possible, and any unavoidable disbursements incurred on your behalf will be payable by you. Disbursements may vary depending on the property, transaction, third-party requirements and other circumstances of the matter.
This quotation is valid for 30 days from the date of issue unless otherwise stated. After this period, we reserve the right to review and update the quotation.
Potential Additional Fees
Company Transaction: Where the property is being purchased/sold/transferred/re-mortgage in the name of a company, additional work and checks will be required.
£100 + VAT.
Multiple Tenants / Multiple AST Agreements: Where the property is occupied by multiple tenants and there is more than one Assured Shorthold Tenancy (AST) agreement, additional work will be required to review each tenancy agreement and the related documentation. An additional fee will therefore apply per AST agreement.
£175 + VAT.
Gift/ Gifted Deposit/ Declaration of Trust: If the purchase involves a gift, gifted deposit or requires a Declaration of Trust, additional work may be required to establish and record the parties' respective interests. This fee applies per gift/gifted deposit.
£100 + VAT.
Leasehold Property: If the property is leasehold, additional work is generally required to review the lease, management information, service charge arrangements, ground rent and other leasehold documentation.
£300 + VAT.
SDLT Completion Fee: Preparation and submission of the Stamp Duty Land Tax (SDLT) return and completion of the associated SDLT requirements.
£100 + VAT.
Mortgage & Specialist Finance Charges: Lender Panel Member: Where we are already a member of your mortgage lender's approved panel. Not a Lender Panel Member: Where we are not a member of your mortgage lender's approved panel, additional work and requirements will apply. Islamic Finance:
Mortgage Redemption: Where an existing mortgage or charge is to be redeemed as part of the transaction, an additional fee may apply for dealing with the redemption statement, repayment of the mortgage and associated legal and administrative requirements.
£175 + VAT.
New Build: Where the property is a new build, additional legal work may be required, including reviewing the developer's contract, new build warranty documentation, planning and building regulation information, estate documents and other developer-specific requirements.
£500 + VAT.
Source of Funds Checks: Where additional source of funds or source of wealth checks are required due to the nature or complexity of the funds being used for the transaction, an additional fee may apply. This may include reviewing supporting documentation, bank statements and other evidence required to satisfy regulatory and compliance requirements.
£175 + VAT.
Unregistered Property: Where the property is unregistered, additional work will be required to investigate and establish title, review historical documentation and deal with the additional requirements involved in registering the property with HM Land Registry.
£450 + VAT.
Retainer/Fund on Account
Before we begin work on your matter, we may require a retainer (funds on account) to be paid. This is an advance payment held on your matter and is used towards our legal fees and/or applicable disbursements as the transaction progresses. The retainer is not an additional fee and will be deducted from the final amount due. For residential conveyancing, the required retainer is: £1,000 The retainer must be received before we commence substantive work on your matter. If the transaction does not proceed to completion, the retainer may be used towards fees and disbursements incurred up to that point. Any remaining balance of the retainer, after all outstanding fees and disbursements have been settled, will be refunded to you.
SDLT
Any SDLT figure provided within this quotation is an estimate only and is based on the information currently available to us. The amount of SDLT payable may differ depending on your individual circumstances, including whether the property will be your main residence or an additional property. If the property is not intended to be your main residence, different SDLT rates or surcharges may apply. If you are a first-time buyer, you may be eligible for first-time buyer SDLT relief or reduced SDLT, subject to the applicable rules and your individual circumstances. We will be able to confirm the applicable SDLT once we have received and reviewed all relevant details of your circumstances.
Terms & Conditions
This quotation is based on the information provided to us at the time of preparation and assumes that the transaction proceeds in a standard and straightforward manner. Our professional fee covers the legal work detailed within this quotation; however, additional fees may apply where the transaction involves circumstances requiring further work, including any chargeable add-ons, additional lender requirements, changes to the transaction, complex title issues, leasehold matters, company purchases, gifted deposits or other matters outside the standard scope of work. Disbursements are separate from our legal fees and are payable by you in addition to our professional fees. During the course of the transaction, unavoidable, additional disbursements may be incurred. We will advise you of any such costs and they will be payable by you. Third-party charges, including Land Registry, search, management company, landlord and lender fees, are outside our control and may vary. All fees are subject to VAT where applicable, and any estimated costs provided are subject to change if the circumstances of the transaction change. If the transaction does not proceed to completion, fees for work already undertaken and any disbursements incurred may still be payable. By instructing us to proceed, you confirm that you have read and understood this quotation and agree to our applicable Terms of Business.