At Lei Dat & Baig Solicitors Ltd, we aim to provide transparent and competitive pricing for our residential conveyancing services. Below is a breakdown of our fees, disbursements, and other key information to help you understand the costs involved. We aim to complete most residential conveyancing transactions within six weeks, though this may vary depending on the complexity of the matter.

What Is Included in Our Residential Conveyancing Service

Our residential conveyancing service ensures a smooth and efficient process for buying, selling, or transferring property ownership. Below is an outline of the work included in our service, along with typical timescales.

What Is Included

1. Initial Enquiries and Document Preparation

• Taking your instructions and providing initial advice.
• Reviewing title deeds, property information forms, and supporting documents.
• Drafting and issuing a contract for sale (for sellers).

2. Searches and Due Diligence

• Conducting necessary property searches (local authority, environmental, water and drainage).
• Reviewing search results and identifying potential risks or issues.

3. Liaising with Third Parties

• Communicating with the other party’s solicitor to exchange information and negotiate terms.
• Coordinating with mortgage lenders to ensure funds are available for completion.

4. Contracts and Exchange

• Reviewing and agreeing on the terms of the contract with you.
• Arranging for contracts to be signed and preparing for exchange.
• Managing the deposit and confirming exchange of contracts.

5. Completion and Post-Completion Work

• Preparing for and managing the completion process, including transferring funds.
• Registering the property with the Land Registry.
• Paying Stamp Duty Land Tax (if applicable) on your behalf.
• Sending you confirmation of registration and providing copies of relevant documents.

Exclusions

The following are not included in our standard residential conveyancing service and may incur additional charges:

• Negotiation of special clauses or unusual contractual terms.
• Resolving complex legal issues (e.g., boundary disputes or restrictive covenants).
• Advice on tax implications beyond Stamp Duty Land Tax.
• Work related to lease extensions or shared ownership properties.

If additional work is required, we will notify you in advance and provide a clear breakdown of any further costs.

Timeframes

We aim to complete most residential conveyancing matters within 6 to 8 weeks. However, this timescale is subject to factors such as:

• The complexity of the transaction.
• Delays from third parties (e.g., mortgage lenders or local authorities).
• Additional negotiations or unforeseen legal issues.

We will keep you informed throughout the process and provide updates on any changes to the expected completion date.

Legal Fees for Sales and Purchases

Our fees are based on the value of the property:
Legal Fees for Sales and Purchases
Our fees, inclusive of VAT (calculated at 20%), are as follows:
Up to £100,000: £900 (including £150 VAT)
Up to £200,000: £1,170 (including £195 VAT)
Up to £300,000: £1,500 (including £250 VAT)
Up to £400,000: £1,800 (including £300 VAT)
Up to £600,000: £2400 (including £400 VAT)
Up to £900,000: £3000 (including £500 VAT)
Up to £1,000,000: £4200 (including £700 VAT)
Auction Purchases: Fees are charged at same rates as above.

If you are obtaining a mortgage there is a an additional fee of £250 plus VAT to report to your lender.

What Is Included in Our Commercial Conveyancing Service

Our commercial conveyancing service is tailored to meet the specific needs of business clients involved in buying, selling, leasing, or transferring commercial properties. Below is an outline of the work included in our service, along with typical timescales.

What Is Included

1. Initial Review and Document Preparation

• Taking your instructions and providing tailored legal advice.
• Reviewing and advising on title deeds, commercial leases, and any existing restrictions.
• Drafting and issuing sale or purchase contracts and other relevant documentation.

2. Searches and Due Diligence

• Conducting detailed property searches (local authority, environmental, drainage, and planning).
• Investigating title and reviewing any risks, including covenants, easements, or charges.
• Advising on planning permissions and statutory compliance issues.

3. Liaising with Third Parties

• Communicating with the other party’s solicitor to negotiate terms and resolve queries.
• Coordinating with lenders for mortgage arrangements or funding approval.
• Reviewing commercial leases, subleases, and tenancy agreements (if applicable).

4. Contracts and Exchange

• Reviewing, negotiating, and finalising the terms of the contract.
• Ensuring compliance with any special conditions or obligations.
• Managing the deposit and arranging the exchange of contracts.

5. Completion and Post-Completion Work

• Preparing for and managing completion, including fund transfers.
• Registering the property with the Land Registry and addressing any notices or charges.
• Advising on and facilitating Stamp Duty Land Tax (SDLT) payments.
• Providing final documentation, including registration confirmations.

Exclusions

The following are not included in our standard commercial conveyancing service and may incur additional charges:

• Complex negotiations related to leases or development agreements.
• Advice on joint ventures or partnership agreements.
• Resolving disputes, including breaches of lease terms or planning issues.
• Tax advice beyond Stamp Duty Land Tax and VAT implications.

If additional work is necessary, we will notify you promptly, provide a clear breakdown of any additional costs, and seek your agreement before proceeding.

Timeframes

We aim to complete most commercial property transactions within 8 to 12 weeks, though this may vary depending on:

• The complexity of the transaction.
• The type of commercial property (e.g., freehold or leasehold).
• Delays from third parties, such as local authorities or lenders.
• Additional negotiations or legal issues arising during the process.

We will provide regular updates and keep you informed of any changes to the expected timescale.

Fees for Commercial Lease-Related Transactions
Registrable Lease (over 7 years): £1500 (including £250 VAT)
Unregistrable Lease: £1170 (including £195 VAT)

Typical Disbursements for all transactions

Disbursements are costs payable to third parties and are in addition to our legal fees.
Common disbursements include:

• Anti-Money Laundering (AML) Checks:
  • £7.80 (National) per person
  • £16.20 (International) per person
• OS1 Search: £7.00
• Bankruptcy Search: £6.00 per person
• Bank Transfer Fee (CHAPS): £30.00 per transfer
• Land Registry Fee: Please enquire for details as this varies with property value
• Search Fees: Please enquire for details as this varies with property value and the searches required (typically around £295)
• SDLT Return Fee: £140
• Office Copy Entries:
  • £7.00 each document (Freehold)
  • £7.00 each document (Leasehold)
• If you are obtaining a mortgage, the lender panel may charge an administrative fee of £35.00 in addition.
• Please note these fees are charged by third parties and may be subject to changes. You will be informed in your terms of engagement or client care letter of the exact fee at the material time

Additional Information

• Stamp Duty Land Tax (SDLT): The amount payable varies depending on the purchase price and your personal circumstances (e.g., first-time buyer or additional property). You can use the HMRC SDLT calculator to estimate your liability.
• Timeframes: We aim to complete most residential conveyancing matters within six to eight weeks. However, this is dependent on factors such as the complexity of the transaction, the speed of third-party responses, and whether additional checks or negotiations are required.
• Potential Price Variations: While we strive to provide fixed fees, there may be circumstances where additional work is required due to the complexity of the case. Should this occur, we will inform you promptly before undertaking any further work. You will be made fully aware of any additional costs and will have the opportunity to approve before proceeding.
• VAT: All fees listed above are exclusive of VAT, which will be charged at the prevailing rate, presently 20%.

Contact Us

For a tailored quote or further information, please contact our team. We are happy to discuss your specific requirements and provide a personalised estimate.