Our fees are based on the amount of time it takes us to complete your sale efficiently and the seniority and experience of the lawyers and other fee earners working on your transaction. Our fees will be specifically agreed with you at the outset of your transaction, once we know the details and circumstances involved, and will cover the work required to complete your sale. Where the transaction does not proceed to completion a reduction of up to 25% is usually applied to the agreed fees depending on how far advanced the transaction is.
Our current hourly charge rates range from £305 for a recently qualified solicitor to £515 for a senior partner/consultant.
Occasionally a transaction becomes unexpectedly more complex e.g. there might be problems with your lease that need to be rectified with the co-operation of your landlord. We would notify you of this as soon as reasonably practicable, so that you can decide whether you wish to continue with a sale at that time with the additional expense of us dealing with the unexpected extra work.
|Sale price of property
|Less than £1,000,000
| £4,000 – £5,500
|£1,000,000 – £2,000,000
| £5,500 – £7,500
|£2,000,000 – £3,000,000
| £7,500 – £9,500
|£3,000,000 – £4,000,000
| £9,500 – £11,500
|£4,000,000 – £5,000,000
| £11,500 to £13,500
Our fee ranges assume that:
Disbursements are costs related to your transaction that are payable to third parties, such as Land Registry fees to obtain official copy title documents and the managing agents’ fees for supplying the management pack containing the service charge, insurance and other management information we will need to supply to your buyer’s solicitors. We handle the payment of the disbursements on your behalf to ensure a smoother process. Disbursements are not included in our fee ranges, however, these typically include:
Any photocopying that is required will be charged at a commercial rate. This would usually be no more than £100 plus VAT where relevant.
There are certain additional disbursements which may be payable under your lease of the Property. For example, if the consent of your landlord is required to transfer your lease you will be required to meet your landlord’s legal costs. These are likely to be in the region of £1,500 to £2,500 plus VAT. We will update you on such specific fees payable upon receipt and review of the lease.
VAT is payable at 20% on all legal fees and taxable disbursements.
How long it will take from accepting your buyer’s offer until you can complete the sale of your property will depend on a number of factors. The average process takes between 4-8 weeks to exchange contracts and then between 2-4 weeks from exchange to completion. It can be quicker or slower, depending on the parties in the chain. For example, if you are a seller to a first time buyer, who has a mortgage agreed in principle at the outset, it could take overall 6-8 weeks. However, if you are selling a leasehold property that requires the landlord’s consent to transfer, this can cause delay, on average between 6 and 10 weeks. In such a situation additional charges would apply for dealing with the landlord’s consent.
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, below we set out some key stages that are relevant to most transactions:
You may review the experience and qualifications of our Private Client Property Team here
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