Pricing
First class service at competitive prices
How much do we charge?
The guidance below is provided is based on a number of assumptions and in particular assumes that:
- this is a standard transaction of registered property and that no unforeseen matters arise including for example (but not limited to) a defect in the title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- the transaction is concluded in a timely manner and no unforeseen complications arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties in providing documentation
- no indemnity policies are required. Additional costs and disbursements may apply if indemnity policies are required
You can find full details of how we calculate our conveyancing charges below. For a quote specifically tailored to your case please just drop us an email hello@innovalegal.co.uk and we can give you an exact quote.
Our charges are made up of:
- our fees for the legal work;
- ‘disbursements’ – disbursements are costs related to your matter that are payable to other people, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process; and
- for property purchases, Stamp Duty Land Tax (see below).
Where VAT is referred to below please note that this will be charged at the applicable rate, which is currently 20%.
Our fees
Our fees depend upon the value of the property you are buying or selling and are listed below:
| Property value | Our Fee (excl VAT) |
|---|---|
| Up to £180,000 | £900.00 |
| £181,001 to £350,000 | £1,000.00 |
| £350,001 - £450,000 | £1,100.00 |
| £450,001 - £600,000 | £1,200.00 |
| £600,001 - £700,000 | £1,200.00 |
| £700,001 - £800,000 | £1,250.00 |
| £800,001 - £900,000 | £1,300.00 |
| £900,001 - £1,000,000 | £1,350.00 |
| £1,000,001 - £1,250,000 | £1,400.00 |
| £1,250,001 - £1,500,000 | £1,500.00 |
If you are buying and selling a property then a charge would be made for both the sale and the purchase. If you are simply re-mortgaging your property then we charge a fixed fee of £550.00 excluding VAT.
If you are buying, selling or re-mortgaging a ‘leasehold’ property (rather than a ‘freehold’) then there is an additional charge of £350.00 excluding VAT.
Please note that VAT of 20% is also charged on all of our fees or legal work.
If, at any point during the transaction, money needs to be sent by telegraphic transfer, we charge a fee of £35.00 excluding VAT.
If you are buying a property we will complete the HMRC stamp duty form on your behalf and submit it at the completion of the transaction. For this we charge a fee of £100.00 excluding VAT.
Disbursements
The ‘disbursements’ which you pay will depend upon whether you are buying or selling property or both, whether you are buying a freehold or leasehold property and the location and type of property concerned. Properties in certain locations for example need more searches and checks than others.
Normally all clients who are buying a ‘freehold’ property will need to pay the following disbursements:
- Search fees £250.00 excluding VAT
- HM Land Registry fee, please see the link to Land Registry Fees »
- Land Charges Search £6 per name
- Digital Onboarding fee £25.00 excluding VAT per person
- AML checks £25.00 excluding VAT per person
When selling a property, you will ordinarily need to pay the following disbursements:
- Land Registry Office Copy Entries and Title Plan £8.80 per title number
If the property is a ‘leasehold’ property then the disbursements will be different and normally consist of:
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £150.00 – £300 plus VAT.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £150.00 – £300 plus VAT.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £150.00 – £300 plus VAT.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £150.00 – £300 plus VAT.
- Leasehold Management Pack – This fee is chargeable when selling a leasehold property. Often it is between £200.00 – £400.00 plus VAT
If you are simply remortgaging then we do not anticipate you incurring any disbursements except for Notice, Deed of Covenant and Certificate of Compliance fees in line with the above for leasehold properties only.
Stamp Duty Land Tax
If you are buying a property you will also need to pay stamp duty land tax. The amount which you need to pay to the government depends on the price of the property. You can calculate the amount you will need to pay by using HMRC’s website (or if the property is located in Wales by using the Welsh Revenue Authority’s website.).
Other costs to consider
If you have a mortgage on the property or have incurred an estate agent’s fee money we would also typically need to pay the money owed directly to your lender and agent as needed from the sale money we receive for you.
You should also be aware that if you are purchasing a leasehold property then ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Examples of our charges
The table below is a typical example of what charges we would make to the client selling a freehold property for £300,000.00:
| £ | £ VAT | |
|---|---|---|
| Our legal fees of £ | 1000.00 | 200.00 |
| Telegraphic Transfer Admin Fee (assuming only one transfer) | 35.00 | 7.00 |
| Digital Onboarding Fee (per person) | 25.00 | 5.00 |
| Office Copy Entries | 30.00 | N/A |
| AML Search Admin Fee (per person) | 25.00 | 5.00 |
| TOTAL: | 1,115.00 | 217.00 |
Whereas the table below is a typical example of what charges we would make to a client buying a new property for £350,000.00:
| £ | £ VAT | |
|---|---|---|
| Our legal fees of £ | 1000.00 | 200.00 |
| Search fees | 260.00 | 52.00 |
| Telegraphic Transfer Admin Fees | 35.00 | 7.00 |
| AML Search Admin Fee (per name) | 25.00 | 5.00 |
| Digital Onboarding Fee (per person) | 25.00 | 5.00 |
| Land Registry Fee (assuming benefit of LR online discount) | 150.00 | N/A |
| Land Registry Search | 8.80 | N/A |
| HMRC Stamp Duty | 2,500.00 | N/A |
| TOTAL: | 4,003.80 | 269.00 |
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Payment Options
We will never send notifications of changes to our payment details by email. If you receive an email that appears to come from us, providing different account details to those we initially provided, or indicating a change in our payment information, please contact the legal representative assigned to you or telephone our main office number immediately to seek verbal confirmation of our account details before any money is sent. Do not reply to the email or act on any information contained within it. The main office number can be verified via the Law Society Find A Solicitor website. We will not be responsible for funds transferred to an incorrect account.