- 99 Bishopsgate, London, EC2M 3XD
- 42 Redbridge Lane East, Ilford, Essex, IG4 5EX
- +(020) - 8551 0999
Stamp Duty Land Tax (SDLT) may be payable when you purchase a property, extend a lease or where you are transferring a property to someone else (known as a ‘transfer of equity.’) This will depend on the amount of consideration being paid for the transaction. Please click on the following link which will lead you to the SDLT calculator on the HMRC website to check to see whether SDLT is payable on your transaction and if so how much: Click Here…
A leasehold pack will need to be obtained from the Landlord / Management Company and they will charge a fee for this. We will advise you of these costs once they are confirmed. Licence to Assign fees may be payable to the Landlord/ Management Company should a Licence be required under the terms of the lease and we will confirm the costs once the information has been provided.
Various fees will be payable to the Landlord /Management company after completion as stipulated in the lease and the leasehold pack(s) which the seller will provide. These include but are not limited to: Deed of Covenant, Notice of Assignment and Charge, Compliance Certificate and Company Membership fee. These fees will be confirmed as soon as the information is received.
A notice of Charge or Assignment will most likely need to be served on the Landlord / Management Company following completion where there has been a transfer of equity or a remortgage. A Deed of Covenant may also need to be entered into where there has been a transfer of equity. These fees will be confirmed once the information has been obtained.
If, during the course of your transaction, it transpires that you will require an indemnity insurance policy, e.g. due to lack of building regulations approval for works carried out, a missing deed, breach of unknown restrictive covenant, ‘no search’ indemnity or some other issue, then we will advise you of the cost of the policy at the appropriate time.
We will always do our best to work to your particular time frame, but this is dependent on the circumstances of your conveyancing transaction. The time frame of a conveyancing matter is extremely difficult to predict.
You should allow between 6 to 8 weeks for a sale or purchase to proceed to completion when there is no chain involved. This timescale applies from the date of receipt of the draft contract papers for a purchase and the issuing of the draft contract papers for a sale. If there is a chain involved, you should perhaps add an additional 2 to 3 weeks to that time frame for each property in the chain on either side of you. We have broken down the sale and purchase timescales below.
A remortgage or transfer of equity transaction should take less time and we would estimate 4 weeks.
Exchange of Contracts:
4 to 6 weeks approximately from receipt of draft contract papers
Completion:
can be simultaneous with exchange or a week to 4 weeks after exchange although in some cases the parties may agree on a longer period between exchange and completion
Post Completion Formalities:
On completion any mortgage(s) registered against the property will be redeemed, agent’s invoice will be settled, and any sale proceeds are sent to clients on the day of completion or the following working day.
Exchange of Contracts:
4 to 6 weeks approximately from receipt of draft contract papers
Completion:
can be simultaneous with exchange of contracts or a week to 4 weeks after exchange. In some cases, the parties may agree on a longer period between exchange and completion
Post completion formalities:
These are concluded within 30 days which includes filing the SDLT Return at HMRC, payment of SDLT, lodging the application to register the new ownership at Land Registry and dealing with any other post completion formalities, e.g., serving notices etc on the Landlord / Management Company for a leasehold property.
(For a new build property, the time scales will depend on the terms of the contact and the anticipated completion date of the construction of the property itself. Exchange of contracts is usually required to take place within 4 to 6 weeks of receipt of draft contract papers with a ‘long stop date’ being agreed by which completion of the purchase must take place.)
Exchange of Contracts:
4 to 6 weeks approximately from receipt of draft contract papers
Completion:
can be simultaneous with exchange or a week to 4 weeks after exchange although in some cases the parties may agree on a longer period between exchange and completion
Post Completion Formalities:
On completion any mortgage(s) registered against the property will be redeemed, agent’s invoice will be settled, and any sale proceeds are sent to clients on the day of completion or the following working day.
Our Property Team consists of Partners, Solicitors, a Trainee Solicitor and Paralegals. Your matter will be dealt with by a Partner, Solicitor or Trainee Solicitor who will be assisted by our Paralegals. Please go to Our Team page for details of the members of our Property Department.
In residential conveyancing and in some other cases we can agree a fixed fee for the whole case or certain stages in a case. We will be able to give you an indication as to whether your case is suitable for a fixed fee after an initial consultation
We are obliged to provide you with detailed information in relation to costs for work undertaken in certain areas of law. Please click on the links below and feel free to contact us should you have any queries.
Property Value | Fees |
|---|---|
£0.00 – £250,000.00 | £750.00 |
£250,000.01 – £500,000.00
| £950.00 |
£500,000.01 – £750,000.00 | £1250.00 |
£750,000.01 – £1,000,000.00 | £1450.00 |
£1,000,000.01 + | 0.2% of the purchase price plus VAT |
Property Value | Fees |
|---|---|
£0.00 – £250,000.00 | £750.00 |
£250,000.01 – £500,000.00
| £950.00 |
£500,000.01 – £750,000.00 | £1,250.00 |
£750,000.01 – £1,000,000.00 | £1,450.00 |
£1,000,000.01 + | 0.2% of the purchase price plus VAT |
Re-mortgage Value | Fees |
|---|---|
£0.00 – £500,000.00 | £550 |
£500,000.01 – £1,000,000.00 | £750 |
£1,000,000.01+ | 0.15% of the gross loan plus VAT |
Additional fee for Leasehold | £350 |
Mortgage Administration fee (for purchases only) | £250 |
Redemption of each charge (sale only) | £150 |
Our fees for arranging a CHAPS transfer (per transaction) | £50 |
Drafting a Declaration of Solvency | £150 |
Drafting a Deed of Gift | £150 |
Dealing with Unregistered Title | £250 |
Help to Buy Purchases | £250 |
Help to Buy ISA | £75 |
Preparing and submitting SDLT return | £125 |
Dealing with an Auction Transaction | £200 |
New Build Fee | £250 |
Building Safety Act Fee (if property over 11m in height) | £500 |
Lawyer Checker | £15.00 |
AML (Anti-Money Laundering) | £14.00 per person£17.40 per company |
Official Copy Documents (e.g., title register, lease, etc.) | £4.20 per document |
Bankruptcy | £3.20 per person |
Lender Panel Admin Fee | £31.20 |
OS1/OS2 (Land Registry Search) | £4.20 |
Local Searches (dependent on the location of property) | £250.00 – £450.00 approximately |
Land Registry Fee | £20.00 to £1,105.00* |
Investing in Quality, Delivering Results
Smart, friendly, and modern, at Links Legal Solicitors, we have been delivering exceptional legal services to private and business clients for over 20 years. We are here to help you with a broad range of legal services and we will match our experience and expertise to your individual needs, to provide a tailor-made service that combines superior professional standards and impeccable client care.
City Office:
99 Bishopsgate, London, EC2M 3XD
Redbridge Office:
42 Redbridge Lane, East llford, Essex, IG4 5EX
Working Hours:
Monday - Friday: 09.00 to 17.00
(Weekend: Closed)
© 2023 Links Legal Solicitors, All Rights Reserved.
Links Legal Solicitors is authorised and regulated by
the Solicitors Regulation Authority – SRA Number: 637869.
