Example Cases
Example of a simple house purchase
For the work involved with the purchase of a freehold house at £305,000. As per our Table of Fees below, our fees were £1650, which including VAT of £330, totalling £1980. This figure is based on six and a half hours work on a solicitor’s hourly rate of £250 + VAT. The additional payments to others totalled £482.40 and the Stamp Duty Land Tax was £2500. The total costs were £4962.40.
If this had been a leasehold purchase, our fees would have been £1900, plus VAT of £380, totalling £2,280. This figure is based on seven and a half hours work on a solicitor’s hourly rate of £250 + VAT. In a leasehold transaction, the client also needs to pay landlord related fees which total an average of £500. The total costs in this case would be £5762.40.
Example of a more complicated house purchase
Properties can sometimes have complicating factors, for example we acted for the purchase of a house priced at £505,000. Our starting cost estimate was £1,750, plus VAT of £350, totalling £2100, this is based on seven hours work on a solicitor’s hourly rate of £250 + VAT. However, when we examined the deeds it became clear that access to the garden was not adequately legally defined and needed to be resolved.
We negotiated with the seller’s solicitor for insurance to be arranged to cover these difficulties and contracts were then exchanged. We spent an additional 4 hours resolving this issue which at the £250 hourly rate of a solicitor increased our fees by £1000 + VAT of £200 = £1,200. We contacted our client and updated our estimated fees to £3,300 inclusive of VAT.
Payments to others including searches were additional and totalled £759.40. The Stamp Duty Land Tax was £12,750. This meant the total cost was £16,677.40, including the revised fee, payments to others and Stamp Duty Land Tax.
Table of Fees
|
Freehold Purchase
|
Our Fees
|
VAT
|
Total
|
| Up to £300,000 | £1550 | £310 | £1860 |
| £300,001 - £500,000 | £1650 | £330 | £1980 |
| £500,001 - £800,000 | £1750 | £350 | £2100 |
| £800,001 - £1m | £1900 | £380 | £2280 |
| £1m - £1.5m | £2050 | £410 | £2460 |
| £1.5m - £2m | £2350 | £470 | £2820 |
| £2m - £3m | £2700 | £540 | £3240 |
| £3m - £4m | £4000 | £800 | £4800 |
| £4m - £5m | £5500 | £1100 | £6600 |
| £5m - £6m | £6800 | £1360 | £8160 |
| £6m - £7m | £8200 | £1640 | £9840 |
| £7m - £8m | £9500 | £1900 | £11,400 |
| £8m - £9m | £10,900 | £2180 | £13,080 |
| £9m - £10m | £12,300 | £2460 | £14760 |
| Leasehold Purchase | Our Fees | VAT | Total |
| Up to £300,000 | £1800 | £360 | £2160 |
| £300,001 - £500,000 | £1900 | £380 | £2280 |
| £500,001 - £800,000 | £2000 | £400 | £2400 |
| £800,001 - £1m | £2250 | £450 | £2700 |
| £1m - 1.5m | £2450 | £490 | £2940 |
| £1.5m - 2m | £2650 | £530 | £3180 |
| £2m - £3m | £3000 | £600 | £3600 |
| £3m - £4m | £4300 | £860 | £5160 |
| £4m - £5m | £5800 | £1160 | £6950 |
| £5m - £6m | £7100 | £1420 | £8520 |
| £6m - £7m | £8500 | £1960 | £10,200 |
| £7m - £8m | £9800 | £1960 | £11,760 |
| £8m - £9m | £11,200 | £2240 | £13,400 |
| £9m - £10m | £12,600 | £2250 | £15,120 |
For insurance reasons Shentons does not carry out transactions for properties worth in excess of £10,000,000.
These estimates are based upon the time taken by the appropriate fee earner, and the perceived risk with complexities generally rising with higher priced properties.
If unexpected complexities arise the additional work will be carried out at the hourly rate of your lawyer, or, if appropriate, a more senior member of the team. We will always communicate any adjustment to the initial estimate.
Factors that can increase your costs
The above Table of Fees assume a ‘standard purchase’ with no unexpected complexities. Factors that would increase your estimate include (but are not limited to):
Additional Payments / Costs
| Cost | VAT | Total | |
| Electronic anti-money laundering search arrangement fee (per person) | £15.00 | £3.00 | £12.00 |
| Bank Transfer arrangement fee | £30 | £6 | £36 |
| Bankruptcy Search fee (per person) | £2.00 | - | £2.00 |
| International Bankruptcy Search (per person living abroad) | Typically £100 | £20 | £120 |
| Land Registry Official Search Fee | £7.00 | £1.40 | £8.40 |
| Notice of Assignment and Charge (per notice) to freeholder or other party (as required) on most leasehold properties and on some freehold properties | Typically £10 - £450 | £2 - £90 (if VAT is levied) | £12 - £540 |
| Search Fees To include: Local Search, Environmental Search, Water & Drainage Search and Chancel Search |
£350.00 (approx.) | £70.00 (approx.) |
£420.00 (approx.) |
| Deed of Covenant (and/or Licence to Assign (a ‘permission to purchase’) these are fees which can be validly requested by the freeholder, Management Company or other authorised party and this fee is very variable | Typically £100 - £300 | £20 - £60 (if VAT is levied) | £120 - £360 |
| Certificate of Compliance fee usually specified by reference to a restriction in the lease or on the title prohibiting registration of the purchase at the Land Registry without evidence of compliance | Typically £100 - £200 | £20 - £40 (if VAT is levied) | £120 - £240 |
| Stamp Duty Land Tax(Dependent on the price payable for the property and ancillary matters for example if you are a first time buyer, or an owner of multiple properties- see more at https://www.gov.uk/stamp-duty-land-tax/residential-property-rates) | Variable - refer to link | N/A | Variable |
| Land Registry Registration Fee(Dependent on the price payable for the property- see more at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees) | Variable - refer to link | N/A | Variable |
| Indemnity Insurance Policy | Typically £11.50 - £800 | £2.30 - £160 | £13.80 - £960 |
| Leasehold Only – Landlord’s appointed valuer | £650 - £1200 | £130 - £240 | £780 - £1440 |
| Leasehold Only– Landlord’s solicitor fees | £1000 - £1250 | £200 - £250 | £1200 - £1500 |
| Specialist searches e.g. when mining, flooding, underground and other additional searches are needed and the cost is search specific | £30 - £750 | £6 - £150 | £36 - £900 |
Steps in the case
In a standard property purchase, we will:
Timescales
On average the purchase of a freehold property takes between 8 – 12 weeks and the purchase of a leasehold property takes between 9 -16 weeks. However, this timeline will depend on a number of factors which are not wholly within our or your control. For example, the timeframes can be quicker, or slower, depending on other parties’ position in the chain, whether any legal issues arise and how quickly they can be solved.
We do not advise on
Example Cases
Example of simple house sale
For the work involved with the sale of a freehold house at £390,000, we charged £1,550 and VAT of £310 totalling £1,860, based upon a Solicitor’s rate of £250 plus VAT per hour and with a time estimate of around six hours’ work, and with various payments to others of £86.40, the total costs came to £1,946.40 including VAT. This fee does not include the agent’s commission fee for marketing the property.
If this was a leasehold purchase, they would have paid Shentons fee of £1,650, based upon a Solicitor’s rate of £250 per hour and with a time estimate of around six and a half hour’s work plus VAT of £330 (i.e. the sum of £1,980 inclusive of VAT for Shentons’ fee) and also needed to pay the landlords related costs for replies to a Leasehold Properties Enquiries form, which would add approximately £214.40 to the costs. This would make the total £2,295.20 including VAT.
Example of complicated house sale
In the case of a freehold property worth £835,000 our standard fees are estimated to be £1,900 & VAT of £380, based upon a partner in the property department acting on the sale at an hourly of £330 plus VAT per hour and with a time estimate of around five and three quarter’s hour’s work. Payments to others would be additional and, on average be £68.40.
However, in this case the property was rural, and listed; which contributed to the following complications:
We spent an additional 8 hours resolving these issues which at the £330 hourly rate of a Partner increased our fees by £2640 + VAT of £528 = £3168. We contacted our client and updated our estimated fees to £5448 inclusive of VAT.
In addition, further funds had to be paid to the owner of the septic tank to cover their legal fees of £2160 (inclusive of VAT) and two indemnities had to be taken out to cover the extension built without planning of compliance at a cost of £1650.
Therefore including our standard fee, the additional work at the Partner’s hourly rate, the standard and additional costs to others, the total costs of sale stood at £9326.40.
Table of Fees
|
Freehold Sale
|
Our Fees
|
VAT
|
Total
|
| Up to £300,000 | £1450 | £290 | £1740 |
| £300,001 - £500,000 | £1550 | £310 | £1860 |
| £500,001 - £800,000 | £1650 | £330 | £1980 |
| £800,001 - £1m | £1900 | £380 | £2280 |
| £1m - £1.5m | £2050 | £410 | £2460 |
| £1.5m - £2m | £2350 | £470 | £2920 |
| £2m - £3m | £2700 | £540 | £3240 |
| £3m - £4m | £4000 | £800 | £4800 |
| £4m - £5m | £5500 | £1100 | £6600 |
| £5m - £6m | £6800 | £1360 | £8160 |
| £6m - £7m | £8200 | £1640 | £9840 |
| £7m - £8m | £9500 | £1900 | £11,400 |
| £8m - £9m | £10,900 | £2180 | £13,080 |
| £9m - £10m | £12,300 | £2460 | £14,760 |
| Leasehold Sale | Our Fees | VAT | Total |
| Up to £300,000 | £1550 | £310 | £1860 |
| £300,001 - £500,000 | £1650 | £330 | £1980 |
| £500,001 - £800,000 | £1900 | £380 | £2280 |
| £800,001 - £1m | £2000 | £400 | £2400 |
| £1m - £1.5m | £2350 | £470 | £2820 |
| £1.5m - £2m | £2650 | £530 | £3180 |
| £2m - £3m | £3000 | £600 | £3600 |
| £3m - £4m | £4300 | £860 | £5160 |
| £4m - £5m | £5800 | £1160 | £6960 |
| £5m - £6m | £7100 | £1420 | £8520 |
| £6m - £7m | £8500 | £1700 | £10,200 |
| £7m - £8m | £9800 | £1960 | £11,760 |
| £8m - £9m | £11,200 | £2240 | £13,440 |
| £9m - £10m | £12,600 | £2520 | £15,120 |
For insurance reasons Shentons does not carry out transactions for properties worth in excess of £10,000,000.
These estimates are based upon the time taken by the appropriate fee earner, and the perceived risk with complexities generally rising with higher priced properties.
If unexpected complexities arise the additional work will be carried out at the hourly rate of your lawyer, or, if appropriate, a more senior member of the team. We will always communicate any adjustment to the initial estimate.
Factors that can increase your costs
The above Table of Fees assume a ‘standard sale’ with no unexpected complexities. Factors that would increase your estimate include (but are not limited to):
Additional Payments / Costs
These are additional costs related to your sale that may be payable to other parties during the course of your transaction.
| Cost | VAT | Total | |
| Electronic anti-money laundering search arrangement fee (per person) | £15 | £3 | £18 |
| Bank Transfer arrangement fee | £30 | £6 | £36 |
| Bankruptcy Search fee (per person) | £6 | - | £6 |
| International Bankruptcy Search (per person living abroad) | Typically £100 | £20 | £120 |
| Official Copies from the Land Registry and filed plans (with a copy of the freehold title being required for leasehold sales) at £7 plus VAT each |
£14 (freehold) £28 (leasehold) |
£2.80 (freehold) £5.60 (leasehold) |
£16.80 (freehold) £33.60 (leasehold) |
| Obtaining a freehold or leasehold management pack which is payable to the freeholder, Management Company or other authorised party and the fee is very variable | Typically £100 - £400 |
£20 - £80 (if VAT is levied) |
£120 - £480 |
| Deed of Covenant (and/or Licence to Assign (a ‘permission to sell’) these are fees which can be validly requested by the freeholder, Management Company or other authorised party and the fee is very variable | Typically £100 - £300 where applicable for each document required | £20 - £60 (if VAT is levied) | £120 - £360 |
| Indemnity Insurance Policy applied to cover a defect in title such as a lack of planning compliance with the cost often being dependent on the purchase price for the property | Typically £11.50 - £800 | £2.30 - 160 | £13.60 - £960 |
| Notice of your sale to freeholder or other party (as required) on some leasehold and freehold properties | Typically £10 - £450 |
£2 - £90 (if VAT is levied) |
£12 - £540 |
| Leasehold – Landlord’s appointed valuer | £650 - £1200 | £130 - £240 | £780 - £1440 |
| Leasehold - Landlord's solicitor fees | £1000 - £1250 | £200 - £250 | £1200 - £1500 |
Steps in the case
In a standard property sale, we will:
Timescales
On average the sale of a freehold property takes between 8 – 12 weeks and the sale of a leasehold property takes between 9 -16 weeks. However, this timeline will depend on a number of factors which are not wholly within our or your control. For example, the timeframes can be quicker, or slower, depending on other parties’ position in the chain, whether any legal issues arise and how quickly they can be solved.
We do not advise on
The process and timeframes for taking a mortgage or a re-mortgage are broadly very similar and the information below sets out both the costs, the timeframes and the stages involved in both matters.
Please note that Bridging Loans are a completely different arrangement and outside the scope of this price guidance.
Mortgages
If you need to take out a mortgage loan unrelated to a purchase, we charge one fee for each mortgage, regardless of the amount of the mortgage. In these transactions we will be acting for both you and your lender. Our fees for a standard residential mortgage for a freehold property are £800 plus VAT of £160 which totals £960 inclusive of VAT.
Including the other additional payments below on a registered freehold property, owned by two people and having a value of £550,000, the total would come to £1,395.80 including VAT.
Remortgages
A re-mortgage is where you either change lenders or take out a further loan on your property.
Freehold Properties
Our fees for a standard residential re-mortgage of a freehold property are £750 plus VAT of £150 which totals £900 inclusive of VAT. This is based on 3 hours work at a solicitor’s hourly rate of £250 + VAT.
Including the other ‘standard’ additional payments below on a registered freehold property, owned by two people and having a value of £350,000, the total would come to £1,351.80 including VAT.
If additional complexities are identified over the course of your matter, such as the ones below in ‘Factors that can increase your costs’ the additional hours spent will be charged at the relevant fee earner’s hourly rate.
Leasehold Properties
Fees for a standard residential re-mortgage of a leasehold property are £1,050 plus VAT of £210 which totals £1,260 inclusive of VAT. This is based on 4.2 hours at a so’icitor's hourly rate of £250 plus VAT.
Including the other ‘standard’ additional payments below on a registered leasehold property, solely owned and having a value of £180,000, the total would come to £2,007.60 including VAT.
Sometimes on a mortgage or a re-mortgage the lender will allow a no search indemnity to be acquired rather than carrying through searches. This has the advantage of removing the delay in waiting for the searches to be returned and the cost, although partly dependent upon the value of the property concerned, is usually comparable with the cost of acquiring the searches ordinarily required at around £400 to £500 (inclusive of any VAT).
If additional complexities are identified over the course of your matter, such as the ones below in ‘Factors that can increase your costs’ the additional hours spent will be charged at the relevant fee earner’s hourly rate.
Additional Payments / Costs
These are additional costs related to your mortgage or remortgage that are payable to other parties during the course of your transaction.
| Cost | VAT | Total | |
| Electronic anti-money laundering search arrangement fee (per person) | £15 | £3 | £18 |
| Bank Transfer arrangement fee | £30 | £6 | £36 |
| Bankruptcy Search fee (per person) | £6 | - | £6 |
| International Bankruptcy Search (per person living abroad) | Typically £100 | £20 | £120 |
| Official Copies from the Land Registry and filed plans (with a copy of the freehold title being required for leasehold sales) at £7 plus VAT each |
£14 (freehold) £28 (leasehold) |
£2.80 (freehold) £5.60 (leasehold) |
£16.80 (freehold) £33.60 (leasehold) |
| Obtaining a freehold or leasehold management pack which is payable to the freeholder, Management Company or other authorised party and the fee is very variable | Typically £100 - £400 |
£20 - £80 (if VAT is levied) |
£120 - £480 |
| Notice of Charge to freeholder or other party (as required) on most leasehold properties and on some freehold properties | Typically £10 - £450 |
£2 - £90 (if VAT is levied) |
£12 - £540 |
| Search Fees To include: Local Search, Environmental Search, Water & Drainage Search and Chancel Search |
Budget for £350.00 (approx.) |
£70.00 (approx.) |
£420.00 (approx.) |
| Land Registry Registration Fee (dependent on the price payable for the property- the Land Registry fee scale calculator can be accessed here (https://www.gov.uk/guidance/hm-land-registry-registration-services-fees) | Variable – refer to link & see below | N/A | Variable |
Land Registry Fees
HM Land Registry fees depend on the value of the property and the type of transaction and will range from £20.00 to £140.00 (from the cheapest to the most expensive property) assuming the mortgage or re-mortgage of an existing registered title.
If the title was unregistered (i.e. not registered at the Land Registry), which is unusual, then this would prompt a first registration of the title for which separate fees would apply and Shentons would advise you accordingly on estimated fees and timescales for such a matter.
Steps in the case
In a standard mortgage or remortgage we will:
Timescales
How long it will take from Shentons receiving your mortgage offer until the date of completing the mortgage/ re-mortgage will depend mainly whether the mortgage lender will accept a no-search indemnity or will require full searches.
If the mortgage lender requires full searches then the time frame for a freehold property would normally be around six to eight weeks, however, if the mortgage lender accepts a no-search indemnity then time frame would be reduced to around four to six weeks.
With a leasehold property the time frames could be the same but may be longer if it takes additional time for the freeholder to provide us with the leasehold management pack.
If there is an unexpected legal issue in the matter, the case may take more time.
For instance, on the remortgage of a leasehold property, if a defect is identified within the lease this would require the freeholder’s co-operation to resolve: this could result in a delay of between three to six months.
We do not advise on
The firm’s charges are calculated mainly by reference to the amount of time that is spent on a matter. The Firm’s rates are reviewed annually and we shall inform you promptly of any change. Ordinary letters out and telephone calls are charged at six minute units where the time spent does not exceed this.
The hourly rates and unit charges for members of the Conveyancing Department are:
|
Patrick Hunter Partner, Head of Property |
£330 per hour + VAT (£66) – total of £396 |
£33 per unit + VAT of £6.60 = £39.60 |
|
Louise Richardson Solicitor |
£250 per hour + VAT (£50) – total of £300 |
£25.00 per unit + VAT of £5.00 = £30.00 |
|
Michelle Hughes Conveyancer |
£210 per hour + VAT (£42) – total of £252 |
£21.00 per unit + VAT of £4.20 = £25.20 |
|
Sue Wheeler Property Secretary |
£100 per hour + VAT (£20) – total of £120 |
£10 per unit + VAT of £2 = £12.00 |
|
Mary Torrance Property Secretary |
£100 per hour + VAT (£20) – total of £120 |
£10 per unit + VAT of £2 = £12.00 |
VAT: please note that all the above will be charged to you with the addition of VAT at the current rate (to meet HMRC re-charge requirements)
Where a matter is dealt with by a legal secretary or non-fee earner to progress it a charge of £100.00 per hour will be made.
These rates reflect the many overheads which, of necessity, a firm of solicitors must incur to run its business.
Fixed Fees
For some new matters, we offer a fixed fee of £200+VAT for up to 1 hour of general legal advice. If you would like to find out more, please contact us and we will provide more detailed information.
