It is compulsory for CLC regulated firms to provide clients with a clear and precise cost estimate. At Edkins Millward Property Lawyers we also believe in transparency and send clients a full breakdown in writing of the expected legal fees and disbursements as soon as a prospective client makes an enquiry.
The costs involved are as follows:
Professional Fees
This is the fee we charge for the work we carry out on your behalf in the conveyancing process. We are VAT registered so this fee is subject to VAT. We take full details from you at the start of the transaction so we can provide you with an accurate fee estimate. Accordingly it is extremely unlikely that the fees we charge will be more than we estimate and, in this event, we will give you prior notice of the increase and obtain your approval before carrying on any further work.
Each transaction is different and we provide an estimate based on the details we receive from you. Our firm’s fees range from £595.00 plus VAT to £3,000.00 plus VAT depending on the nature of the transaction.
Disbursements
These are costs you must pay to various third parties involved in the conveyancing process. Here are some examples below.
Sale
Land Registry Fees
We obtain up-to-date copies of the register of title and documents referred to on the register of title. This disbursement is usually between £6.00 and £15.00.
Purchase
Search Fees
As standard we carry out a local authority search, a drainage and water search and an environmental search. The fee charged by local authorities is not standard so the cost of the search varies depending on the local council. For example Eastbourne Borough Council currently charge £166.80 and Wealden District Council currently charge £127.00.
Stamp Duty
Stamp Duty is payable on most purchase transactions. The rate varies according to Government policy and we will provide you with the amount of the Stamp Duty payable in our fee estimate.
Land Registry Fees
The Land Registry charge a fee for registering your purchase. There is a fee scale depending on the purchase price and our fee estimate will inform you of the Land Registry fee payable for your transaction.
