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There are many reasons that an indemnity policy may be required. Our normal procedure where a policy is requested by the buyer's solicitors is to ask the buyer's solicitors to obtain a quotation for a policy, upon receipt of which we will take your instructions as to whether you are prepared to pay for the same.
If this course of action is agreed by the buyer's solicitors, no charge will be made. Where the buyer's solicitor insists that we obtain the quotation for the policy and put the same in hand, on or before completion, we will charge a fee of £55 plus VAT for each policy required. Please note the fee of £55 plus VAT is for arranging the policy. The cost of the policy itself will be additional and depends on the type of policy required.
If you are part of a long chain, with more than two related transactions we will charge an additional fee of £75 plus VAT. This is in respect of the additional work associated in agreeing timescales for exchange and completion.
If there is a third party solicitor involved in the transaction whom we need to liaise with, we will charge a fee of £100 plus VAT. For example, if you are selling a jointly owned property and the joint owner instructs their own solicitor.
We would recommend that there is at least a week between exchange and completion to enable you to make your arrangements and to enable us sufficient time to prepare your matter for completion, including requesting up to date redemption figures, preparing the final completion statement to enable us to remit any proceeds to you upon completion and liaising with the buyer's solicitors to arrange completion.
If there is less than a week between exchange and completion we will charge a fee of £150 plus VAT for prioritising your matter.
If your property is leasehold we will charge a fee of £100 plus VAT in respect of the additional work involved including obtaining a copy of the freeholders title and liaising with the freeholder to obtain a ground rent receipt and confirmation of their notice fees. An additional fee of £100 plus VAT will be charged in addition to the leasehold fee if the property is an apartment. This is in respect of the additional correspondence we will need to enter into with the freeholder and/or management company.
Please note that there may also be notice fees and/or consent fees payable to the freeholder and/or management company on leasehold flats and houses. Notice fees and consent fees are charged at cost where applicable.
If you have a mortgage registered against your property we will charge an additional fee of £100 plus VAT. This fee is for the additional work in obtaining a redemption figure, redeeming the mortgage on completion of your sale, obtaining evidence of the discharge from your lender and providing this evidence to the buyer's solicitors.
If there is a restriction registered against the property title, we will charge a fee of £50 plus VAT to deal with the compliance/removal of the same.
If the property you are selling is shared ownership, we will charge an additional fee of £300 plus VAT. This is for the additional work involved in liaising with the shared owners solicitors/management company.
Upon completion we will be required to submit the balance required to redeem any existing mortgage to your lender by telegraphic transfer. Our fee for this service is £40 plus VAT. If there is a surplus due back to you, and you require this by way of a telegraphic transfer, a further fee of £40 plus VAT will be payable.
If any funding towards the transaction is being provided by a third party, such as a family member, we will charge a fee of £75 plus VAT. The fee is to cover the cost of our writing to the person providing the funding, checking their identity and their evidence of funds.
In most cases the title to a property will be registered at the Land Registry. Registration of property had become compulsory following a disposition across all of England and Wales since 1990.
If the title to your property is unregistered we will charge an additional fee of £150 plus VAT. This is for the additional work involved in preparing the Epitome of Title to provide to the buyers solicitors with the draft contract.
A Key Undertaking may be required if you agree with your buyers that they will be granted access the property between exchange and completion. The Key Undertaking will set out the basis of any agreement in this regard. We will charge a fee of £50 plus VAT to prepare or review a Key Undertaking.
If the property benefits from solar panels and there is a solar panel lease which needs to be transferred to the buyer we will charge a fee of £125 plus VAT to deal with the assignment of the lease and for entering into correspondence with the solar panel company.
If you have any questions about our addition fees, please contact us online or call us free on 0330 123 0068
Acting for lender fee
£150 plus VAT
Arranging indemnity(per policy)
£55 plus VAT
Complex chain surcharge
£75 plus VAT
Dealing with third party solicitors
£100 plus VAT
Expediated completion fee
£200 plus VAT
New build fee
£350 plus VAT
£50 plus VAT
Separate lender representation
£250 plus VAT
£300 plus VAT
Telegraphic transfer fee
£40 plus VAT
Third party gift
Solar panel lease
£125 plus VAT
Help to buy
All Scottish cases will be handled by the Scottish law firm with which we are associated, Irwin Mitchell Scotland LLP. The law relating to conveyancing and property is different in Scotland and you will receive separate advice about what that means. Please visit our Scottish Conveyancing page for more information.
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