Mr Smith is selling his freehold property for £150,000. He has a mortgage that will need to be paid off from the sale proceeds, before our conveyancing solicitors send the funds onto him. Mr Smith could expect to pay the following:- 

 

Legal Fees 

 

£408.75 plus VAT (charged at 20%), totalling £490.50.  

 

These fees have been reduced from our usual £545.00 plus VAT, totalling £654.00.  

 

Mr Smith is saving £163.50 off our legal fees. 

 

Disbursements 

 

There will be Land Registry fees of £6.00 for Title documents and a Title plan, plus £3.00 for any additional document required from the Land Registry. 

 

There will be two bank transfer fees payable of £30.00 each, one for our property solicitors to repay Mr Smith's mortgage, and the other for our property solicitors to pay the funds due to Mr Smith to him. 

 

Total 

 

Mr Smith can expect to pay in the region of £556.50 for his property sale. 

Mr Smith is also buying a freehold property for £200,000. He will be buying with the assistance of a mortgage with Santander. Mr Smith could expect to pay the following:- 

 

Legal Fees 

 

£483.75 plus VAT (charged at 20%), totalling £580.50. 

 

These fees have been reduced from our usual £645.00 plus VAT, totalling £774.00. 

 

Mr Smith is saving £193.50 off our legal fees. 

 

Disbursements 

 

As Mr Smith is purchasing with a mortgage, his mortgage lender will require searches to be carried out. The search bundle is £215.00. This includes a coal and mining search, an environmental search, a local authority search, and a water search. This also include a chancel insurance policy.  

 

Before we can finish a property purchase, we are required to carry out bankruptcy searches with the Land Registry. These are at a cost of £2.00 per person. We also need to carry out a search against the property title - to ensure that no one else has tried to register any applications against the land - which will cost £3.00 per Land Registry Title. Mr Smith can expect to pay £5.00. 

 

There may be Stamp Duty payable, which will depend on a variety of factors, such as whether Mr Smith owns any other property and the cost of the property he is purchasing. 

 

There will be two bank transfer fees payable of £30.00 each, one for our property solicitors to pay the purchase funds to the seller's solicitor and one to pay any Stamp Duty. 

 

Total 

 

Mr Smith can expect to pay in the region of £860.50 for his property purchase, plus any Stamp Duty. 

Whether you are buying or selling a property, it is a legal requirement that a conveyancing solicitor acts on your behalf. You should therefore instruct an expert conveyancing solicitor as early as possible in the process, to prevent any delays with your transaction. Usually, as soon as you have accepted an offer on your property sale or your offer has been accepted on your property purchase, you will be asked by the estate agents to provide details of your property solicitors.  

 

It can be useful if you have already approached a conveyancing solicitor and obtained a quote, so that you know which firm you are instructing. That way, when the estate agents ask for these details, you can contact our expert Conveyancing team and provide your information so that we can open our file and send our your initial paperwork without delay. As soon as we receive the paperwork signed and returned by you, we will be able to start the legal process of buying or selling your property. 

No matter what kind of property you are buying, where in England or Wales you are moving or whether this is your first property purchase or your tenth property, MG Legal’s conveyancing solicitors are here to help. 

 

To speak to our conveyancing solicitors in Longridge, Lancaster or Garstang about how we can help with your property purchase or property sale, simply get in touch with us online, give us a call, or email us at property@mglegal.co.uk, and a member of our team will get back in contact with you the same day to discuss your matter. 

 

If you live near one of our offices - Longridge, Garstang or Lancaster - arrange an appointment to speak to our property solicitors in person. Our property team look forward to assisting with your property purchase or sale.