| Seniority | Cost (per hour plus VAT) |
| Partners & Senior Solicitors | £400.00 to £600.00 |
| Associate Solicitors / Solicitors of 4+ years PQE* | £300.00 to £380.00 |
| Associates and Solicitors of 1-4 years PQE* | £250.00 to £280.00 |
| Trainee Solicitors, Paralegals and all other Caseworkers
(rate dependent on experience) |
£175.00 |
*post qualification experience
Chargeable rates may vary depending on complexity, value and urgency of instruction
In contentious matters, our charges are based on the time we spend dealing with a case. Time spent on your matter will include meetings with you and perhaps others, any time spent travelling, considering, preparing and working on papers, correspondence and making and receiving telephone calls. It is not only good practice but also a professional obligation to keep you fully informed, in writing, as to the progress of your matter on a regular basis.
Our charging rate in this matter will be an hourly rate + VAT, depending on the fee-earner acting. This takes into account a number of factors which include the complexity of the issues, the expertise or specialist knowledge that the case requires and on the basis of the information currently available. The rates may be higher if, for example, the matter becomes more complex or urgent than expected in which event we will notify you. In the event of a charging rate per hour, routine letters that we write and routine telephone calls that we make and receive will be charged as units of one tenth of an hour (6 minute units). Routine letters received are not charged for. Other letters and calls will be charged on a time basis, calculated in 6 minute units. Routine letters that we write and routine telephone calls that we make and receive will be charged as units of one tenth of an hour (6 minute units). Routine letters received are not charged for. Other letters and calls will be charged on a time basis, calculated in 6 minute units. Generally, hours worked outside normal office hours are charged at the same rate but in the event that we are obliged to work regularly outside office hours, we reserve the right to increase the level of the hourly rate. However, you will be notified in advance of any such intention.
In litigation matters, the amount of our costs which you will have to pay may be greater than the amount you can recover from another party to the case.
We will add Value Added Tax to our charges at the rate that applies when the work is done. The present Value Added Tax is 20%. In addition, all out of pocket expenses including in particular fares and telephones will be charged and other expenses which we are likely to pay.
Details of other expenses which you are likely to have to pay, when they are likely to become due and an estimate of their costs will be given to you by the person in charge of your case as soon as possible.
Generally in contentious matters it is often hard, in the first instance, to provide a sensible estimate of the likely overall costs. Nevertheless we try where possible to give estimates for the overall costs of the matter concerned and more particularly, we will endeavour to give you estimates for each stage of the matter as it proceeds.
You may set a limit on the charges and expenses to be incurred which means that you will be responsible for paying those charges up to the agreed limit without our having to refer back to you. In such an event, we will inform you as soon as it appears that the limit may be exceeded. Please bear in mind, however, that in such situations your instructions may be needed urgently so as to avoid a delay in dealing with your matter which can, in some circumstances, result in orders for costs being made against you.
NOTE, an estimate is not intended to be a fixed or guaranteed figure. It represents our view of the likely cost up to a particular stage or point in time and it will usually be on the basis that the matter proceeds smoothly.
It is normal practice to ask clients to pay sums of money from time to time on account of charges and expenses which are expected in the following weeks or months. We may request further payments on account as the matter progresses. When we put these payments towards your bill, we will send you a receipted bill. We will off-set any such payments against your next bill but it is important that you understand that your total charges and expenses may be greater than any advance payments.
To help you budget in matters charged out on an hourly rate, we will send you a bill for our charges and expenses on a regular basis
SBP LAW RESIDENTIAL CONVEYANCING FEE SCALE 2024
|
PURCHASE PRICE |
FEES |
ADDITIONAL COSTS & DISBURSEMENTS |
| Up to £350,000.00 | £1,450.00 | Stamp Duty: * |
| £350,000.00 to £500,000.00 | £1,750.00 | Land Registry Fees: ** |
| £500,000.00 to £875,000.00 | £1,950.00 | Searches: £250 + |
| £875,000.00 to £1,000,000.00 | £2,250.00 | Mortgage lenders fees: £350 resi £495 comm. |
| £1,000,000.00 and above | 0.25% | Completion & submission of SDLT form: £125 |
| Miscellaneous HMLR searches: £5.00 + | ||
| Lessor’s Notice Fees £75 per notice | ||
| Bank Transfer Fees: £40.00 | ||
| Thirdfort Digital ID Service: £50 + VAT | ||
| New Build Supplement £625 + VAT | ||
| Auction Supplement £750 + VAT |
|
SALE PRICE |
FEES |
ADDITIONAL COSTS & DISBURSMENTS |
| Up to £350,000.00 | £1,450.00 + VAT | Estate Agents Fees: As agreed by you |
| £350,000.00 to £500,000.00 | £1,750.00 + VAT | Leasehold Sale Pack (if applicable): varies |
| £500,000.00 to £875,000.00 | £1,950.00 + VAT | Mortgage discharge Fees: £150 + VAT |
| £875,000.00 to £1,000,000.00 | £2,250.00 + VAT | Bank Transfer Fees: £40.00 + VAT |
| £1,000,000.00 and above | 0.25% + VAT | Miscellaneous HMLR searches: £5.00 + |
| Thirdfort Digital ID Service: £50 + VAT |
|
REMORTGAGES & TRANSFERS |
FEES |
ADDITIONAL COSTS & DISBURSEMENTS |
| Up to £350,000.00 | £1,000.00 + VAT | Stamp Duty (if applicable): * |
| £350,000.00 to £500,000.00 | £1,250.00 + VAT | Land Registry Fees: ** |
| £500,000.00 to £800,000.00 | £1,500.00 + VAT | No search indemnity insurance: *** |
| £800,000.00 to £1,000,000.00 | £1,750.00 + VAT | Mortgage discharge Fees: £150 + VAT |
| £1,000,000.00 to £2,000,000.00 | £1,950.00 + VAT | Mortgage lenders fees: £350 + VAT residential |
| £2,000,000.00 and above | 0.15% + VAT | Mortgage lenders fees: £495+VAT commercial |
| Official copy title documents: £3.00 + |
* As per HMRC published rates
** As per Land Registry published fee scale
*** Indemnity Insurance based on loan amount
NB:
(i) If Leasehold properties please expect additional costs which will vary from lease to lease.
(ii) Fees in respect of non-standard transactions i.e. refinancing; expedited services and all commercial transactions will fall outside our standard fee quote and will be provided upon request.
(iii) All legal costs are subject to VAT at the current rate of 20%.
(iv) We may charge an uplifted fee for expedited transactions.
(vi) An abortive fee may be charged depending on what stage the transaction has reached.
|
OTHER FEES
|
FEES |
|
| Lease Extension | £1,750.00 + VAT | + Deed of Substituted Security |
| Licence to Assign | £1,500.00 + VAT | Minimum |
| Licence for Alterations | £1,500.00 + VAT | Minimum |
| Deed of Variation | £1,250.00 + VAT | Minimum |
| Deed of Release | £500.00 + VAT | Minimum |
| Declaration of Trust (standalone) | £1,250.00 + VAT | Minimum |
| Declaration of Trust (as part of transaction) | £625.00 + VAT | Minimum |
| Transfer of Equity | £950.00 + VAT | Minimum |
| Landlord Property Enquiries (LPE1) | £1,000.00 + VAT | For leasehold flats |
| Freehold Management Enquiries (FME1) | £750.00 + VAT | For freehold houses |
| Deed of Covenant (preparation) | £650.00 + VAT | Minimum |
| Deed of Covenant (review only) | £450.00 + VAT | Minimum |
| Independent Legal Advice (Standalone) | £750.00 + VAT | Minimum |
| Independent Legal Advice (Existing transaction) | £350.00 + VAT one person | £500 + VAT if two individuals |
| Deed of Substituted Security | £250.00 + VAT | Minimum |
| Mortgage Discharge Fee | £150.00 + VAT | Per discharge |
| Landlord’s Notice Fees | £75.00 + VAT | Per Notice |
| Other Licences e.g. Pet Licences | Price on order | |
| Other Consent e.g. to carry out works | Price on order |
LAND REGISTRY 2021 PUBLISHED FEES
Scale 1 fees – New Purchases/New Leases
| Value or amount | Apply by post | Apply using the portal for transfers which affect whole registered titles | Apply using the portal for registration of leases and transfers which affect part of a registered title | Voluntary first registration (reduced fee) |
| 0 to £80,000 | £45 | £20 | £45 | £30 |
| £80,001 to £100,000 | £95 | £40 | £95 | £70 |
| £100,001 to £200,000 | £230 | £100 | £230 | £170 |
| £200,001 to £500,000 | £330 | £150 | £330 | £250 |
| £500,001 to £1,000,000 | £655 | £295 | £655 | £495 |
| £1,000,001 and over | £1,105 | £500 | £1,105 | £830 |
Scale 2 fees
| Value or amount | Apply by post | Apply using the portal for transfers of whole, charges of whole, transfers of charges and other applications of whole of registered titles | Apply using the portal for registration of transfers of part, and all other Scale 2 applications that do not affect the whole of a registered title |
| 0 to £100,000 | £45 | £20 | £45 |
| £100,001 to £200,000 | £70 | £30 | £70 |
| £200,001 to £500,000 | £100 | £45 | £100 |
| £500,001 to £1,000,000 | £145 | £65 | £145 |
| £1,000,001 and over | £305 | £140 | £305 |
Residential property rates
You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat. SDLT only applies to properties over a certain value. The amount you pay depends on when you bought the property and how much you paid for it.
Rates from 23rd September 2022
You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).
| Property or lease premium or transfer value | SDLT rate |
| Up to £250,000 | Zero |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
Rates for Purchases Up to 23rd September 2022
These rates also apply if you bought a property before 23rd September 2022. You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).
| Property or lease premium or transfer value | SDLT rate |
| Up to £125,000 | Zero |
| The next £125,000 (the portion from £125,001 to £250,000) | 2% |
| The next £675,000 (the portion from £250,001 to £925,000) | 5% |
| The next £575,000 (the portion from £925,001 to £1.5 million) | 10% |
| The remaining amount (the portion above £1.5 million) | 12% |
If you’re buying your first home
You can claim a discount (relief) if you buy your first home from 23rd September 2022. This means you’ll pay:
- no SDLT up to £425,000
- 5% SDLT on the portion from £425,001 to £62500,000
You’re eligible if you and anyone else you’re buying with are first-time buyers.
If the price is over £625,000, you follow the rules for people who’ve bought a home before.
Higher rates for additional properties
You’ll usually have to pay 3% on top of SDLT rates if buying a new residential property means you’ll own more than one. If you’re replacing your main residence, you will not pay the extra 3% SDLT if the property you’re buying is replacing your main residence and that has already been sold.
If you have not sold your main residence on the day you complete your new purchase you’ll have to pay higher rates. This is because you own 2 properties.
Rates if you’re not a UK resident
If you’re not present in the UK for at least 183 days (6 months) during the 12 months before your purchase you are ‘not a UK resident’ for the purposes of SDLT and you will usually pay a 2% surcharge if you’re buying a residential property in England or Northern Ireland on or after 1 April 2021.
KEY STEPS AND ESTIMATED TIMEFRAMES IN CONVEYANCING TRANSACTION
| CONVEYANCING SALES | KEYSTAGES&
TIMEFRAMES |
CONVEYANCING PURCHASES |
| (i) Both parties Solicitors are instructed
(ii) Both Solicitors will send out client care letter with terms and conditions and provide an estimate of costs. (iii) The seller will be asked to complete a property information form, fittings and contents form and if the property is leasehold, a leasehold information form These form part of the ‘contract papers’ and provide vital information directly from the seller about the property to be sold. (iv) Once the Seller returns all initial documentation and forms with monies on account and onboarding is completed, the legal process will commence. (v) The Seller’s Solicitor will obtain up to date title deeds from the Land Registry and request a mortgage redemption if there is a charge registered on the property as well as a management pack (as required) |
Stage 1:
(Week 0-2) Instructions from clients |
(i) Both parties Solicitors are instructed
(ii) Both parties Solicitors will send out client care letter with terms and conditions and provide an estimate of costs with a request for identification, proof of address and money on account to cover the cost of any third-party disbursements. The Buyer must provide source of funds for the purchase. (iii) Once monies on account are received the solicitors will order property searches on the purchase and title documentation for a sale. (iv) The buyer should arrange a survey of the property by a qualified surveyor and raise any issues that arise from the report to the seller. |
| (i) The Seller’s Solicitor will put together a draft contract package detailing the terms and conditions of the sale and include copies of all relevant documents such as title deeds, any guarantees and certificates, a management pack (if relevant) and will forward the Contract pack to the Buyer’s Solicitor.
(ii) Seller’s Solicitor will apply for Landlord Certificate under the New Building Safety Act if relevant. Dealing with the Leaseholder Deed of Certificate and Landlord Certificate can take 4-8 weeks depending on the Landlord/freeholder. |
Stage 2:
(Week 2-4) Production and circulation of contract papers |
(i) Once the Buyer’s Solicitor receives the draft contract package and subject to receipt of monies from the client they will request pre-contract searches to include Local Authority Search, Drainage and Water Search, Environmental Search and any others considered necessary having regard to the location of the property.
NB. Search reports can take 2-6 weeks to be returned depending on the Local Authority. |
| (i) The seller must provide satisfactory replies to the pre-contract enquiries with any documentation in support to the Buyer’s solicitor.
(ii) The Buyer’s solicitor will review the replies to enquiries and once satisfied with replies will prepare and send the Buyers Solicitors a draft Transfer Deed for approval and requisitions on title for replies. (iii) The Seller will be sent the Contract Deed and Transfer Deed to sign and return in readiness for exchange and completion. (iv) The Buyer’s solicitor will send the Buyer the list of replies to enquiries for them to review. (vi) Once the Buyer is happy, an exchange and completion date will be agreed between the parties. |
Stage 3:
(Week 4-8) Investigation of title, raising enquiries and reporting on title |
(i) Once searches are received and the client’s mortgage offer from the Lender (if applicable) the buyer’s conveyancer will examine the information supplied and raise any pre-contract enquiries. These will include enquiries on the contract, title, and property. Also on the management pack and Building Safety Act documentation.
(ii) The Solicitor will also report to the buyer on the documents (this may include a written Report on Title) explaining the documents to the Buyer and explaining what the transaction involves with next steps. If the property is leasehold, the reporting stage may take longer because the lease terms must be reported on and can be complex. (iii) If the buyer has any further enquiries they may have following their review of the documents they should raise those with the solicitor. (iv) Once Buyer confirms that they are happy with the documentation they will and will send signed documents in readiness for exchange of contracts plus deposit monies authorise their solicitor exchange contracts. |
| (i) On receipt of the signed contract from the Seller their Solicitor will confirm to the Buyer’s solicitor that they are ready to exchange.
(ii) Contracts will be formally exchanged with the date agreed between the parties noted on the Contract. The transaction is now legally binding on both parties. (iii) Following exchange the Buyer’s Solicitor will sent deposit monies (usually 10%) plus the Buyer’s signed and dated part of the Contract to the Seller’s Solicitors. (iv) The Seller’s Solicitor will do the same and if not already dealt with will also forward Replies to Requisitions and draft Transfer Deed to the Buyer’s Solicitors. |
Stage 5:
(Week 8-10) EXCHANGE OF CONTRACTS |
(i) On receipt of the signed contract and deposit monies from the Buyer the Solicitor will confirm to the Seller’s solicitor that they are ready to exchange
(ii) The Buyer’s solicitors will undertake pre-completion formalities such as bankruptcy and priority searches. (iii) Contracts will be formally exchanged with the date agreed between the parties noted on the Contract. The transaction is now legally binding on both parties. (iv) Deposit monies will be sent to the Seller’s Solicitor. (v) If buying with the aid of a mortgage the Solicitor will submit a Certificate of Title to the Mortgage Lenders who will need anything from 3-7 days’ notice of drawdown so sufficient time must be provided for between exchange and completion (unless the parties wish to exchange and complete on the same day in which case this should be made very clear to the Solicitor well before the agreed completion date. |
| (i) The Seller’s Solicitors will undertake pre-completion checks to include ensuring they have an up to date redemption statement and the signed Transfer Deed or executed Lease from their client.
(ii) On receipt of completion monies Sellers will contact the Buyers solicitor to confirm receipt and release of keys. (ii) Seller’s Solicitor will authorise the Agents to release keys to the buyer. |
Stage 6:
(Week 10-12) COMPLETION (on date pre-agreed by parties) |
(i) Buyer’s Solicitor will undertake pre-completion checks to ensure all monies required for completion have been received and the signed Transfer Deed.
(ii) Monies will be transferred from the buyer to the seller’s conveyancer. (iii) Once completion occurs the Solicitor will confirm this to their client and request that they contact the Agents to collect keys to the property. |
| (i) The Seller’s solicitor will redeem the Seller’s existing mortgage (if applicable), pay the Estate Agents commission account and other payments due including remitting the net proceeds of sale to the Seller.
(ii) The Seller’s solicitor will send the signed and dated Transfer Deed or Lease (if new lease being granted) together with any other relevant completion documents to the Buyer’s Solicitor including all original title deeds and documents including any Guarantees and Certificates. |
Stage 7:
(Week 12-14) POST COMPLETION |
(i) The Buyer’s Solicitor must pay any stamp duty due within 14 days of completion by submitting an SDLT1 to HMRC.
(ii) The Buyer’s Solicitor must also complete an application to the Land Registry so that the Buyer is recorded officially as the registered proprietor i.e. legal owner of the property and any mortgage lender’s interest will be noted on the title deed as having a Charge over the property. (iii) Solicitor to send Buyer updated Title Documentation once received from the Land Registry. NB. Current backlog at the Land Registry means they are taking 18-24 months to deal with the registration process and updating title documentation. |