- Shrewsbury: 01743 295412
- Telford: 01952 272222
- Wolverhampton: 01902 793399
Our fees act in the sale or purchase of a property start at £695 + VAT and increase on a sliding scale, according to sale or purchase price.
This fee would apply to a standard freehold transaction, including acting for a lender and also completing the stamp duty land tax return. If your property is leasehold or a new build, there will be an additional fee and we have listed other circumstances in which we might make further charges below.
Fees will vary from one property to the next and we will be able to offer a far more accurate estimate once we have spoken to you about your matter in more detail. We would always recommend that you call us to discuss your transaction.
Note that there are no hidden fees – our fees include acting for your lender and completing your Stamp Duty Land Tax Return.
Disbursements are third party costs that we accrue on your behalf to facilitate your transaction.
Standard disbursements that apply to the vast majority of purchases are listed below.
Land Registry fee
The Land Registry fee charged depends on the purchase price and is based upon the sliding scale below. We submit the vast majority of our applications electronically and they are charged at a lower rate. If you are buying an unregistered property that has to be registered for the first time, a new build property or a property that is being transferred out of a larger title, the postal fees apply.
Value of property sold (£) | Fee – Electronic |
0 to £80,000 | £20 |
£80,001 to £100,000 | £40 |
£100,001 to £200,000 | £100 |
£200,001 to £500,000 | £150 |
£500,001 to £1,000,000 | £295 |
£1,000,001 and over | £500 |
Stamp duty land tax
Stamp duty land tax has become increasingly complex in recent years, with the introduction of higher rates of tax for those who already own other properties and/or are buying holiday homes or homes to let and reduced rates for genuine first time buyers. Consequently, the regime has become less clear and we would strongly recommend that you consult the appropriate HMRC site for more information. We submit the tax return on your behalf, based upon the information you give us.
Properties in England: HMRC’s website
Properties in Wales: Welsh Revenue Authority’s website
Bank transfer fee
We charge a flat rate of £40 + VAT for a same day transfer, e.g. if sending the purchase monies. This includes a fee of £6.50 charged by the bank and an administration fee of £33.50, charged by Martin Kaye Solicitors.
Identity check administration fee
We charge a flat rate of £10 + VAT per name. We have to do this as part of the due diligence process.
Searches
In the vast majority of cases, we always apply for the following searches:
We apply for the searches through a search portal and the portal may also recommend other searches that are applicable to the area where the house is located. In this area where our offices are located, we routinely apply for coal authority searches, more detailed flood searches and radon gas assessments. There are other searches that are optional, e.g. plan searches which reveal planning consents that effect the area around the property, rather than just the property itself.
For this reason, it is very difficult to estimate exactly how much the searches will cost. However, the vast majority are usually between £250 and £300 for a pack. We always request £300 on account of costs and this is more than enough to cover the costs in the vast majority of cases.
There are far fewer third party costs attached to selling a property.
Where the property is registered at HM Land Registry, we download the title documents. This usually costs £3 per document. On average, the charge is £9 to £12 per property. This cost may double for leaseholds.
If there is a mortgage to repay, we charge our standard bank transfer fee of £40 + VAT. This includes a fee of £6.50 charged by the bank and an administration fee of £33.50 charged by Martin Kaye Solicitors. There would also be a charge for checking identity, as referred to above.
Leasehold sales and purchases are always more expensive than freeholds because there is considerably more legal work to undertake (see supplementary legal fees below). In addition, there will almost definitely be additional third party costs, usually payable to the freeholder or their managing agent.
If you are selling a property, you will usually have to pay for a management pack, which will cost around £300.
If you are buying a property, it is usual to serve a notice of transfer and mortgage on the freeholder, who will always charge for receipting the notice. In addition, you may have to enter into a Deed of Covenant with the managing agents, and/or become a member of the management company and obtain a share certificate. The managing agents or freeholders always charge administrative fees for processing the paperwork and they can be large fees in excess of £200 to £300.
You should always allow additional third party costs of £250 to £400 for any leasehold sale or purchase.
Other Costs for additional work
Certain types of transaction attach additional legal fees because they are non-standard and involve additional work on our part. They are listed below.
We have tried to cover every eventuality. Most rarely apply, but some are more common, e.g. supplements for leaseholds, new builds, dealing with Help to Buy ISAs and no completion, no fee.
Additional bank telegraphic transfer admin fee (within UK) | £40.00 + VAT |
Additional parcels of land or additional title numbers | £100.00 + VAT |
Approval of contract package prior to auction purchase | £200.00 + VAT |
Approve existing tenancy | £50.00 + VAT |
Assignment of insurance policies between policy holders | £200.00 + VAT |
Attending auction sale | Price available on request |
Bank telegraphic transfer abroad admin fee | £60.00 + VAT |
Bridging loans | £495.00 + VAT |
Buy to let supplement | £250.00 + VAT |
Cheques returned unpaid or cheques stopped at client’s request | £15.00 + VAT |
Contract races, sale or purchase | £250.00 + VAT |
Copy Title Deeds following purchase completion | £30.00 + VAT |
Dealing with matrimonial or third party lawyers | £200.00 + VAT |
Dealing with Paragon, Kent Reliance, Vida Home Loans, Foundation and other lenders with additional requirements | £250.00 + VAT |
Dealing with second or subsequent mortgages on a purchase | £150.00 + VAT |
Deed of Covenant or Licence to Assign | £150.00 + VAT |
Deed of Easement (to grant rights) | £400.00 + VAT |
Deed of grant/variation | £200.00 + VAT |
Deed of postponement | £250.00 + VAT |
Deed of trust | £250.00 + VAT |
Deed of variation of lease | £300.00 + VAT |
Deeds of guarantee | £200.00 + VAT |
Drafting additional contract packages for sale contract race | £350.00 + VAT |
Drafting licence to occupy | £100.00 + VAT |
Drafting tenancy agreement | £150.00 + VAT |
File retrieval after completion from archive storage | £30.00 + VAT |
Final staircasing under shared ownership lease | £350.00 + VAT |
Flying freehold deed of mutual covenant preparation | £250.00 + VAT |
Freeholds with management company or rent charge | £150.00 + VAT |
General Data Protection Regulations (access to personal data) | £10.00 + VAT |
Gifted deposit | £50.00 + VAT |
Gifted deposit from abroad | £75.00 + VAT |
Help to Buy ISA or LISA | £50.00 + VAT per ISA |
Help to Buy mortgage or similar scheme | £200.00 + VAT |
Housing Association property surcharge | £175.00 + VAT |
Lease extension (private negotiation with landlord only) | £450.00 + VAT |
Leaseholds | £450.00 + VAT |
New build properties | £300.00 + VAT |
Obtaining access between exchange and completion | £100.00 + VAT |
Obtaining copy building permission or building regulation consent | £50.00 + VAT |
Obtaining copy guarantees (e.g. FENSA, Electrical, NHBC) | £50.00 + VAT |
Personal guarantee advice | £250.00 + VAT per person |
Preparation of contract package for auction sale | £300.00 + VAT |
Purchase of share of freehold | £250.00 + VAT |
Removal of second and subsequent charges | £100.00 + VAT |
Researching and setting up a title repair or indemnity policy | £50.00 + VAT |
SDLT form completion on shared ownership and stair casing (sale only) | £50.00 + VAT |
Shared ownership | £300.00 + VAT |
Solar panels subject to a lease | £150.00 + VAT |
Statutory Declaration for Title rectification | £150.00 + VAT |
Transfer of part | £300.00 + VAT |
Unregistered titles – producing epitome or first registration | £250.00 + VAT |
Vendor gifted equity or concessionary purchase | £100.00 + VAT |
Our standard fee for remortgaging your property from one high street lender to another is £395 + VAT + disbursements.
Disbursements or third party costs can vary significantly from transaction to transaction and we also make further charges for additional, non-standard work. For instance, we charge more for leasehold and buy-to-let remortgages and there are some non-high street lenders with more demanding requirements where we will make a supplementary charge.
Disbursements – remortgages
Land Registry fees
Land registry fees are calculated on a different scale for remortgages, based upon the amount you are borrowing:
Amount being borrowed (£) | Fee – Electronic |
£0 to £100,000 | £20 |
£100,001 to £200,000 | £30 |
£200,001 to £500,000 | £40 |
£500,001 to £1,000,000 | £60 |
£1,000,001 and over | £140 |
Proof of title documents
Where the property is registered at HM Land Registry, we download the title documents. This usually costs £3 per document. On average, the charge is £9 to £12 per property. This may double for leaseholds.
Bank transfer fee
We charge a flat rate of £40 + VAT for a same day transfer, e.g. if sending the purchase monies. This includes a fee of £6.50, which is charged by the bank and an administration fee of £33.50, charged by Martin Kaye Solicitors. If the money is not required on the same day, we can use the BACs system and do not make a charge.
Identity check administration fee
We charge a flat rate of £10 + VAT per name. We have to do this as part of the due diligence process.
Searches
In most instances, we are unable to offer the option of either submitting a full search application, as referred to above, or by using search indemnity insurance, if the lender will accept it.
Indemnity insurance is the cheaper option, usually costing between £30 and £40 per transaction, and it will protect your lender against any losses that may occur as a result of an adverse search result. The downside is that it does not cover the environmental search, which also covers the flood risk.
Many lenders now insist on searches being carried out and, as referred to above, we always request the sum of £300 on accounts of costs.
Additional fees – remortgages
Please note that there will be additional fees payable in certain circumstances where there is additional, unforeseen work. Whilst this is unlikely in most cases, please bear in mind the following:
We sometimes pay a referral fee to a third party for introducing a new client to us. The sum that we pay may vary from case-to-case, but it is always deducted from our legal fee. We will make it known to you in our initial correspondence if such a fee is payable.
This cost is a standard authorised charge that a law firm may make to attract business. Our own fee remains competitive in the market place and the payment of the marketing allowance would never compromise our independence when acting on your behalf. You are free to raise questions on all aspects of the transaction.
The introducer has signed up to a referral agreement, stating that clients are not cold called in order to obtain their business. If you have been cold called, i.e. you received an unsolicited telephone call or visit, please could you advise us immediately.
As there is a referrer involved, we will on occasions need to supply them with information about the transaction, which might be regarded as confidential to you (such as proposed exchange dates, mortgage amounts, completion dates etc.). Please note that by signing the Terms and Conditions of Business form, you are agreeing to us sharing information with the referrer where this will help your transaction proceed smoothly to completion.
If you wish to store your deeds with us, there will be a Deeds Storage Fee of £45 + VAT.
There are a huge number of factors which determine or influence how long a transaction is likely to take. The average process takes between ten and fourteen 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 property with a mortgage in principle and no upward chain, it could take eight weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, maybe closer to five months. In such a situation, additional charges would apply.
Remortgages are generally quicker and we aim to complete the remortgage within fourteen days of receipt of your mortgage offer. This does depend upon it being a standard matter, without any additional work, e.g. a simultaneous transfer of equity.
We have a large and very experienced Conveyancing team at Martin Kaye Solicitors, that have been undertaking substantial volumes of property work both locally and nationally for over thirty years.
Your matter will always be run by a fully qualified lawyer; either a solicitor, licenced conveyancer or legal executive. Most also have an experienced, but unqualified legal assistant. You will be made aware of the person who will have day-to-day responsibility for your file at the beginning of the process. All staff have direct dial telephone numbers and email addresses.
We try to respond to calls, emails and correspondence as quickly as we can, but with a huge increase in volumes of emails that come in every day, it has become increasingly difficult to deal with all queries on the day that they are received.
Martin Kaye Solicitors has Conveyancing Quality Scheme, Lexcel and Investor in People accreditations and we are also on the vast majority of the lender panels, including many non-high street and buy-to-let lenders.
We rarely receive complaints, but if you do have a grievance, please click here.
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SHREWSBURY – T: +44 (0)1743 295412 | F: +44 (0)1743 368071
TELFORD – T: +44 (0)1952 272222 | F: +44 (0)1952 272223 | law@martinkaye.co.uk
WOLVERHAMPTON – T: +44 (0)1902 793399 | F: +44 (0)1902 793375
Copyright © 2023 Martin Kaye Solicitors. Martin-Kaye is the trading name of Martin-Kaye LLP.
Martin Kaye Solicitors is authorised and regulated by the Solicitors Regulation Authority SRA No: 508765 (Martin-Kaye LLP)
