RESIDENTIAL PROPERTY FEES

Curwens have immense experience within residential conveyancing and focus on dealing with your matter in as efficient and cost effective manner as possible. You can view the professional profiles of our expert team here.

At Curwens we provide a fixed fee quotation for Residential Conveyancing transactions at the outset so you know in advance what the costs involved will be. As the circumstances around each transaction differ the quote you receive will be specifically tailored to you but to give you a guide our fees fall into the following ranges.

Our Fees

Freehold properties

Leasehold properties

Residential property re-mortgage – fees typically between:

£950 (+VAT £190) Total £1140 and £1500 (+Vat £300) Total £1800

These figures may however vary in cases with special complications and depending on the lender. That is why we will always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your transaction. We will set out in writing the estimate for our fees, VAT and disbursements and what work we will do for you, including assumptions and exclusions. We will always advise you immediately about any complications and discuss the potential impact on price before any additional charges are incurred.

Our fees cover all the work* required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

The fees above only relate to properties situated in the U.K. and are stated excluding VAT which will be charged at the prevailing rate (currently 20%). The figures quoted cover all of the work we would reasonably expect to complete in a straightforward transaction. If the matter proves unusually complex then the fee may be higher.

Please contact us for your tailored quote.

The following list contains examples of complexities which may lead to a higher fee having to be charged. This is not an exhaustive list.

• A lease extension is required
• Shared ownership transactions
• Where the transaction is to be progressed in an unusually short time frame
• Contract races
• Where there is a perceived defect in title
• Where a Deed of Covenant is required
• Where a short-hold tenancy agreement is required
• First registration of title
• Dealing with Notices of Assignment
• Where a Declaration of Trust is required
• Help to Buy transactions
• Dealing with a share of freehold
• Auction sale or purchase
• Dealing with subprime lenders
• Where you are buying the property as a ‘Buy to Let’*
• Where you are buying through a company and the lender requires you to sign a personal guarantee’*

*These fees start at £450 (+VAT £90) total £540 for a straightforward case but will increase if more than one guarantor has to sign, or where a lender has more complex requirements.

Disbursements

In addition to our fees there are other costs required to complete your matter that are payable to third parties. To ensure a smooth process we settle these “disbursements” on your behalf.

The following are the usual disbursements you can expect.

We will include our best estimate of the disbursements relevant to your transaction when we provide our detailed quote to you.

How long will my house purchase take?

How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 8-12 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 3 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 5 months. 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 we have suggested some key stages that you may wish to include:

• Take your instructions and give you initial advice
• Check finances are in place to fund purchase and contact lender's solicitors if needed
• Receive and advise on contract documents
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of seller's solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Send final contract to you for signature
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from lender and you
• Complete purchase
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

* Our fee assumes that:

1. 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
2. this is the assignment of an existing lease and is not the grant of a new lease
3. the transaction is concluded in a timely manner and no unforeseen complication arise
4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.