Watsons Law LLP Fee Scales

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Please note that VAT and usual disbursements are to be added to the below-mentioned fees. Disbursements are expenses related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The figures quoted are a guide only and the final fees will depend upon the complexity of the transaction and the amount of work required.

Sales/Purchases

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6 and 12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 4 - 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages for your purchase for your information:

These fees are for our acting for you in relation to the conveyancing of a single residential sale or purchase. This will include the discharge of a mortgage with a lender who signs up to the Council of Mortgage Lenders handbook (CML) on a sale or the taking out of a mortgage with a CML lender to complete a purchase (unless that lender is separately represented by another lawyer). Our fee assumes that this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction; this is the assignment of an existing lease and is not the grant of a new lease; the transaction is concluded in a timely manner and no unforeseen complication arise; all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; no indemnity policies are required. Additional disbursements may apply if indemnity policies are required. More details will be provided at the required time.

Purchases

Sales

Additional fees for unusual sale/purchase situations

Additional Fees
(plus vat and disbursements)
New builds £300
Help to buy mortgage/ISA £350/£50
Mortgage with a separately represented lender £400
Paying off additional mortgages/charges (per charge) £100
Basic declarations of trust. £150
Shared ownership £300
Transfer of share of freehold when the freehold is not owned by a company £200
Please also note our fee exclusive extras here

Estimated disbursements for a purchase

Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the title from the seller's solicitors.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Estimated disbursements for a sale

Re-mortgages

New Mortgage from New Mortgage to Fee (inclusive of VAT and Disbs)
£1 £500,000 599
£500,001 £750,000 699
£750,001 £1,000,000 799
£1,000,001 £2,000,000 899
£2,000,001 £3,000,000 999

Please note that these fees do not include any charges that may be charged by any third party if your property is leasehold. For example, your lease will state that you have to notify the lessor of any new mortgage. The lessor will likely charge an admin fee for this which is typically £100 & VAT but is always on a case by case basis.