Residential Conveyancing for properties valued above £500,000

Our minimum legal fees for buying a property are set out in our pricing pages and vary depending on the value of the property you are buying. Our legal fees can be up to 0.75% of the purchase price of the property. Please note that VAT is chargeable on our legal fees at 20%. Our legal fees cover:

• Assessing the seller’s title
• Raising pre-contract enquiries
• Reviewing the mortgage offer and lender’s requirements (if applicable)
• Obtaining and assessing all standard searches
• Reporting our findings to you (and your lender)
• Undertaking the exchange and completion procedures

Following completion, we will arrange for the payment of Stamp Duty Land Tax (“SDLT”) and forward the return on your behalf as well as apply to the Land Registry to register your purchase, deal with any requisitions and forward to you a copy of the completed title.

Upon completion, we need to submit the balance purchase monies to your seller’s solicitor by telegraphic transfer. Tax advice is also excluded as a standard part of the conveyancing transaction fee. We are able to refer you to our dedicated tax team if this is required. Irwin Mitchell is accredited with the Conveyancing Quality Standard by the Law Society. In accordance with our obligations under the accreditation, your transaction, where appropriate, will comply with the Conveyancing Protocol (2019 edition) and will use the Law Society Code for Completion by Post (2019 edition).

Disbursements (not included in our legal fees set out above.)

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of disbursements on your behalf to ensure a smoother process. The following disbursements usually always apply:

• Searches to identify potential risks with the property
• Land Registry Fees. These vary depending on the value of your property. Further information about these fees can be found on the .gov website.

You will also need to pay Stamp Duty Land Tax when purchasing a property but the amount depends on the value of the property you are buying. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website. Once we have reviewed the documents relating to your purchase we will let you know if any other disbursements are likely to be payable.

For more information on the key stages and likely timeframes of a property purchase please see our conveyancing guide. If you are also selling a property please see the information above on our fees for selling a property.

Our minimum legal fees for mortgaging or remortgaging a property are set out in our pricing pages and vary depending on the value of the property. Our legal fees can be up to 0.50% of the value of the property. VAT is chargeable on our legal fees at 20%. Our legal fees cover:

• Obtaining and assessing title information and documents from the Land Registry
• Liaising with the existing mortgage lender (if applicable) and reviewing the mortgage offer and lender’s requirements

The completion procedure

Your lender may require searches, in which case we will obtain and assess all standard searches, reporting our finding to you (and your lender). Your lender may accept no search indemnity insurance as an alternative and we will explore this option with you when we have received the mortgage offer from your lender.

Following completion, we will apply to the Land Registry to register the mortgage, deal with any requisitions and forward to you a copy of the completed title.

Upon completion, we need to submit the balance required to redeem any existing mortgage to your lender by telegraphic transfer. Tax advice is also excluded as a standard part of the conveyancing transaction. However, this firm does have a dedicated tax team and we will be happy to pass on your details if this is required.

Disbursements (not included in our legal fees set out above.)

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of disbursements on your behalf to ensure a smoother process. Once we have reviewed the documents relating to your transaction we will let you know if any other disbursements are likely to be payable. For more information on the key stages and likely timeframes of a property purchase please see our conveyancing guide.