Indicative Fees

We will agree a fixed fee with you to cover all of the work required to complete the sale or purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (purchase matters) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

We reserve the right to increase our fees in excess of those indicated below in exceptional circumstances. We will make this clear to you at the outset and ensure we receive your consent to proceed.

Example Purchase of London Leasehold Property with value at: £ 748,500

Purchase:
Legal Fees	£ 1,850.00
VAT at 20%	£ 370.00
Supplements
Mortgage Lender Fee (If Applicable)	£ 200.00
Search Pack (If Required)	£ 400.00
Leasehold Fee	£ 500.00
Bank Transfer Fee (Per Transfer)	£ 45.00
Enhanced Electronic ID Fee (Per Client)	£ 25.00
VAT at 20%	£ 234.00
Disbursements
Pre Completion Searches	£ 19.00
Land Registry Fees	£ 295.00
Stamp Duty (SDLT)	Refer to HMRC website
Total (Including VAT):	£ 3,938.00

Stamp Duty Land Tax – this depends on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s Website or if the property is located in Wales by using the Welsh Revenue Authority site here

Land Registry Fees – this varies based on the price of your property and the type of registration. Full details of costs can be found using the fee calculator on HM Land Registry website.

Example Sale of Regional Freehold Property with value at: £399,500

Sale:
Legal Fees	£ 1,450.00
VAT at 20%	£ 290.00
Supplements
Mortgage Lender Fee (If Applicable)	£ 150.00
Bank Transfer Fee (Per Transfer)	£ 45.00
Enhanced Electronic ID Fee (Per Client)	£ 25.00
VAT at 20%	£ 44.00
Disbursements
Land Registry Fees	£ 6.00
Electronic Copies of your Deeds (Per Copy)	£ 7.00
Total (Including VAT):	£ 2,017.00

Example Re-mortgage of Freehold Property with value at: £300,000

Re-mortgage:
Legal Fees	£ 750.00
VAT at 20%	£ 150.00
Supplements
Bank Transfer Fee (Per Transfer)	£ 45.00
Enhanced Electronic ID Fee (Per Client)	£ 25.00
VAT at 20%	£ 14.00
Disbursements
Land Registry Searches	£ 7.00
Electronic Copies of your Deeds (Per Copy)	£ 7.00
Search Indemnity Insurance	£ 50.00
Total (Including VAT):	£ 1,408.00

Please note, in some instances a ‘Search Pack’ (between £325 – £400 +VAT) may be applicable for a re-mortgage depending upon the Lender.

Timescales

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 10 – 12 weeks. It can be quicker or slower, depending on the parties in the chain.

The precise stages involved in the sale or purchase of a residential property vary according to the circumstances. Click here for Sale & Purchase Flowcharts that set out the key stages of a normal transaction

Our fee assumes that:

1. This is a standard transaction, and no unforeseen matters arise. Examples may include (but are not limited to) a defect in the title that requires remedying before completion, or the preparation of additional documents ancillary to the main transaction.
2. The transaction is concluded in a timely manner, and no unexpected complications arise. During periods of exceptionally high workloads, such as stamp duty deadlines, turnaround times may exceed our usual 12-week average.
3. All parties involved are co-operative, and there are no unreasonable delays from third parties in providing documentation.
4. No indemnity policies are required. Additional fees and disbursements may apply if such policies are necessary.
5. Additional fees may be payable in the following circumstances:
   o If the property is a new build (£895+VAT),
   o If you are using Help to Buy (£495+VAT),
   o For shared ownership transactions (£895+VAT), or
   o If you are purchasing using a Help to Buy ISA (£50+VAT per ISA).
6. If you are receiving a gift or loan from a third party to purchase the property (e.g., a gift or loan of the deposit from parents or friends), an additional fee of £150+VAT per gift will be payable to cover the costs of due diligence and disclosure to any mortgage lender (if applicable). This fee increases to £250+VAT for gifts coming from overseas.
7. You have provided the correct tenure of the property. If it is later found that the property is leasehold or share of freehold, and we were not informed at the time of instruction, there will be a charge of £500+VAT for dealing with the lease. Further fees may apply for leasehold transactions, which can be found on our fees page: www.thomaslegal.co.uk/indicative-fees
8. While most properties are registered with the Land Registry, some are not. If the property is unregistered, additional work will be required, which will incur a further charge of £500+VAT.
9. If the property is part of an estate with a management scheme for communal areas, an additional fee of £200+VAT will apply.
10. If you require a mortgage to fund your purchase, a ‘Mortgage Lender’ Fee of £150+VAT will apply.
11. If your sale involves the redemption or porting of a current mortgage or legal charge, a ‘Mortgage Lender’ Fee of £125+VAT will apply.
12. The Building Safety Act 2022 has introduced substantial additional legal work for lawyers in some leasehold purchases. We reserve the right to increase our fees up to £1,000+VAT if we are required to provide further advice under this legislation.
13. If your transaction is being handled by an attorney acting under a Lasting Power of Attorney (LPA) or Enduring Power of Attorney (EPA), an additional fee of £150+VAT will apply to cover our costs related to additional due diligence and certification.
14. Please note that the Stamp Duty Land Tax (SDLT) amount stated in our initial quotation is indicative and based on the information you have provided. This may need to be reviewed following a more thorough assessment of your transaction and/or any changes to the SDLT rates/thresholds.
15. The HM Land Registry fee has been calculated on the assumption that the application can be submitted electronically. If this is not possible, disbursement costs will increase. Full details of registration costs can be found using the fee calculator on the HM Land Registry website.