Purchase – Additional Fees

Acting for lender fee

If you are purchasing the property with the benefit of a mortgage, your lender will usually require that we act for them as well as you. You will be responsible for our fee for acting for the lender in the sum of £150 plus VAT.

Arranging indemnity (per policy)

There are many reasons that an indemnity policy may be required. If following a review of the title and the search results it becomes apparent that an indemnity policy is required, we will charge of fee of £55 plus VAT per policy. This fee is in respect of our obtaining a quotation and draft policy and forwarding the same to you for review.

We would point out that although in some instances you may not feel a policy is necessary, where you are purchasing with the assistance of a mortgage, a policy may be required to protect our lenders interests. Please note the fee of £55 is for arranging the policy. The cost of the policy itself will be additional and depends on the type of policy required.

Complex chain surcharge

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.

Dealing with third party solicitors

If there is a third party solicitor involved in the transaction whom we need to liaise with, we will charge a fee of £200 plus VAT. For example, if you are selling a jointly owned property and the joint owner instructs their own solicitor.

Expedited completion fee

We would recommend that there is at least a week between exchange and completion to enable you to make your arrangements and for us to carry out the final searches and, where necessary, draw down your mortgage advance. If there is less than a week between exchange and completion we will charge a fee of £150 plus VAT for prioritising your matter.

Leasehold fee

If the property you are purchasing is leasehold, we will charge a fee of £150 plus VAT in respect of the additional work involved including reviewing the freeholders’ title, obtaining evidence that the ground rent is paid to date and confirmation of their notice fees.

An additional fee of £150 plus VAT will be charged on top of the leasehold fee if the property is an apartment in respect of the additional correspondence we will need to review from the freeholder and/or management company (the total leasehold fee will be £300 plus VAT where property is an apartment).

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.

New Build

If you are purchasing a new build property we will charge an additional fee of £350 plus VAT. This fee may increase and will be reviewed upon receipt of the draft contract package from the seller’s solicitors. If we anticipate this fee will increase, we will contact you immediately upon receipt of the contract documentation with an estimate.

Restrictions

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.

Restriction fee

If upon completion of your purchase a nonstandard restriction is required we will charge £150 plus VAT for completing the Land Registry form and submitting the same to the Land Registry. There are several instances when such a restriction may be required to protect a number of interests, for example, where you are acting as a Deputy of a Patient of the Court of Protection or where you wish to refer to a Declaration of Trust, setting out respective shares to be held in the property. You may also wish to impose restrictions against future transfers of the property.

Separate lender representation

If your lender insists on instructing their own Solicitor to represent them, we will charge an additional fee of £250 plus VAT. This is for the additional work involved in complying with the lender’s solicitors requirements.

Shared ownership

If the property you are purchasing is shared ownership, we will charge an additional fee of £350 plus VAT. This is for the additional work in reviewing the shared ownership lease, reviewing documentation from the management company/shared ownership solicitor and dealing with any additional requirements set out by your lender in your mortgage offer.

Third party gift

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.

Unregistered title

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.

Key undertaking

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.

Solar panel lease

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.

Help to Buy ISA Deposit

If you are purchasing a property with the assistance of a Help to Buy Scheme we will charge a fee of £300 plus VAT for the extra work involved including reviewing and reporting on the scheme requirements and arranging for you to sign the necessary documentation. If your deposit is to be drawn down from a Help to Buy ISA scheme we will charge £50 plus VAT in connection with the extra work required to obtain the bonus payment.

If you have any questions, please contact us online or call us free on 0330 123 0068.

Sale – Additional Fees

Arranging indemnity (per policy)

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 them to obtain a quotation for a policy. Upon receipt of this 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.

Complex chain surcharge

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.

Dealing with third party solicitors

If there is a third party solicitor involved in the transaction whom we need to liaise with, we will charge a fee of £200 plus VAT. For example, if you are selling a jointly owned property and the joint owner instructs their own solicitor.

Expedited completion fee

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.

Leasehold fee

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 (the total leasehold fee will be £200 plus VAT where property is an apartment).

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.

Redemption of mortgage fee

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.

In addition, if your property is subject to a Help to Buy mortgage that is to be redeemed upon completion, an additional £150 VAT will be payable.

Restrictions

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.

Shared ownership

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.

Third party gift

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.

Unregistered title

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.

Key undertaking

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.

Solar panel lease

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

Remortgage – Additional Fees

Arranging indemnity (per policy)

There are many reasons that an indemnity policy may be required. If following a review of the title and the search results it becomes apparent that an indemnity policy is required, we will charge a fee of £55 plus VAT per policy. This fee is in respect of obtaining a quotation and a draft policy and forwarding the same to you for review.

We would point out that although in some instances you may not feel a policy is necessary, a policy may be required to protect your lenders’ interests. 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.

Dealing with third party solicitors

If there is a third party solicitor involved in the transaction whom we need to liaise with, we will charge a fee of £200 plus VAT. For example, if you are selling a jointly owned property, and the joint owner instructs their own solicitor.

Expedited completion fee

We will require at least a week to arrange completion to enable us to carry out the final searches, obtain a final redemption figure and draw down your mortgage advance. If there is less than a week to arrange completion due to your requirements we will charge a fee of £150 plus VAT for prioritising your matter.

Leasehold fee

If the property is leasehold we will charge a fee of £95 plus VAT in respect of the additional work involved including reviewing the freeholders title and obtaining evidence that the ground rent is paid to date and confirmation of their notice fees.

An additional fee of £150 plus VAT will be charged on top of the leasehold fee if the property is an apartment in respect of the additional correspondence we will need to review from the freeholder and/or management company (the total leasehold fee will be £245 plus VAT where property is an apartment).

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.

Redemption of Help To Buy mortgage fee

If you have a Help to Buy mortgage registered against your property we will charge an additional fee of £150 plus VAT. This fee is for the additional work in obtaining a redemption figure, redeeming the mortgage on completion of your remortgage, obtaining evidence of the discharge and providing this evidence to the buyer’s solicitors.

Restrictions

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.

Separate lender representation

If your lender insists on instructing their own Solicitor to represent them we will charge an additional fee of £250 plus VAT, for the additional work involved in complying with the lenders’ solicitors requirements.

Third Party Gift

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.

Transfer of equity

If the property needs to be transferred into another party’s name, or an additional party added before the remortgage can proceed, we will charge an additional fee in the sum of £150 plus VAT. This fee is to cover the cost of the preparation of the Transfer Deed and the correspondence required with the additional party.

Unregistered title

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 extra work involved in reviewing the title and submitting the same for first registration following completion.

The table below shows prices per service: