|Property price bracket||Standard fee||Partner fee|
|Up to £125,000||£725 plus VAT||£775 plus VAT|
|£125,001 to £200,000||£800 plus VAT||£925 plus VAT|
|£200,001 to £250,000||£925 plus VAT||£1050 plus VAT|
|£250,001 to £350,000||£1050 plus VAT||£1175 plus VAT|
|£350,001 to £500,000||£1175 plus VAT||£1325 plus VAT|
|Over £500,001||0.25% plus VAT||0.275% plus VAT|
In addition, the following fixed fees and expenses may apply to sales
Additional fixed fees and third party expenses
|Our Electronic Transfer Fee to redeem a mortgage or charge||£35 plus VAT|
|Office copy title information documents from HM Land Registry||£3 per document plus VAT|
Example total fees
Using the information above you can estimate the total sum applicable to your transaction. It is also easy to obtain a specific quote by contacting our Client Services team:
– by telephone on 01752 292201
– by email at firstname.lastname@example.org
– by speaking to one of the team via our 24/7 live chat
Example - Sale by an individual of a freehold property in Plymouth for £150,000 subject to a mortgage
|Standard legal fee||£720.00|
|Electronic money transfer fee to redeem the mortgage||£35.00|
|HM Land Registry official copy title registers and plan||£6.00|
|VAT applies to each of the above||£132.00|
Our fees cover the standard work required to complete the sale of your home including;
- Obtaining the title documents to your property from the Land Registry or, if your property is unregistered, considering the deeds available and preparing the Epitome on Title
- Drafting the contract for approval by your buyer’s solicitors
- Addressing enquiries raised by your buyer’s solicitor
- Providing you with updates on progress of your transaction and maintaining good levels of communication throughout by either email or telephone or face-to-face meetings as you direct
- Advising you on how to obtain any missing information or documents relevant to your sale
- Approving the form of transfer deed provided by the buyer’s solicitors
- Arranging to redeem any existing mortgage or charge secured against your property on completion.
When do our fees become payable?
Our standard fixed fees are due on completion of the transaction. Payments to third parties, such as Land Registry title documents will be payable in advance. We normally ask you to make an initial advance payment on account of £100. If the initial payments are likely to exceed this, we will request an additional sum to cover those expenditures.
We have a commercial arrangement with a few local Estate Agents, Mortgage Brokers and Financial Advisors to whom we pay a fixed fee for each matter that is referred to us by them. A formal referral agreement is made between Wolferstans and the company or body referring work to us but our objective remains to advise you independently in line with our professional duties. The agreement will not impact on you, as a client, or your rights as a consumer. We will let you know if such an arrangement is in place between Wolferstans and the person or body that has referred you to use our services. We will confirm to you in writing the fee that Wolferstans shall pay to the Referrer on completion of your transaction. Please note, that the fees quoted to you by Wolferstans will not be increased or amended to account for the referral fee.
How long will it take?
The length of time that it takes to complete a sale of a freehold property depends on various factors, including:
- How quickly the other party to the transaction is able to proceed
- How quickly the conveyancer acting for the other party is able to progress the transaction
- How quickly you are able to respond to any enquiries or provide us with relevant instructions
- Whether any unusual or difficult circumstances should arise or come to light during the course of the transaction
It will also depend on the nature of the transaction, for example, whether:
- the buyer is relying on monies under an advance pay loan agreement such as under the Forces Help to Buy Scheme
- there are multiple owners
- the property is being sold subject to existing tenancies
- the buyer is using a Shared Ownership Scheme
- the buyer is using the Help to Buy Scheme
- the transaction is a probate sale/purchase awaiting issue of the formal Grant of Probate
- the buyer wishes to instruct a Surveyor to prepare a HomeBuyer’s report and the availability of the Surveyor
- you are selling only a part of a property that is subject to complex rights and reservations
- you have a related transaction
- you are selling under a part-exchange arrangement.
On average, standard sale transactions take between 6 to 12 weeks to complete.
Get in touch to discuss how we can help you by calling 01752 292201.
Wolferstans LLP is a limited liability partnership, registered in England and Wales (registered number OC433921) which is authorised and regulated by the Solicitors Regulation Authority with number 811913. (Plymstock Office SRA number 819159; Plympton Office SRA number 819160). The SRA’s Standards and Regulations can be viewed here. A list of the members of Wolferstans LLP, and of their professional qualifications, is available for inspection at our registered office: 60/66 North Hill Plymouth Devon PL4 8EP. We use the word `partner` to refer to a member of the LLP or an employee or consultant with equivalent standing and qualifications. Data Protection Register Entry Number ZB009475 with an expiry date of 14 March 2022.VAT Registration Number 144043893.