Martin Kaye Conveyancing Department Fees

Table of contents

Fee scales - buying or selling a property

We charge the rates listed below to act in the sale or purchase of a property within a 50 mile radius of each of our offices. If the property is out of our immediate area we may make an additional charge and will estimate our fees on a case by case basis.

Many fees vary from property to property and we will be able to offer a far more accurate estimate once we have spoken to you about your matter in more detail. We would always recommend that you call us to discuss your transaction.

The fees listed below are for a standard freehold transaction, including acting for lender and also completing the stamp duty land tax return. If your property is leasehold or a new build there will be an additional fee and we have listed other circumstances in which we might make an additional charge below.

Sale and Purchase Fee
£0 - £200,000 £525.00 + vat + Disbursements
£200,001 - £250,000 £575.00 + vat + Disbursements
£250,001 - £350,000 £625.00 + vat + Disbursements
£350,001 - £450,000 £675.00 + vat + Disbursements
£450,001 - £550,000 £725.00 + vat + Disbursements
£550,001 - £600,000 £795.00 + vat + Disbursements
£600,001 - £750,001 £895.00 + vat + Disbursements
£750,000+ Case by case basis

Note that there are no hidden fees - our fees include acting for your lender and completing your Stamp Duty Land Tax Return.

Disbursements

Disbursements are third party costs that we accrue on your behalf to facilitate your transaction.

  1. Standard disbursements that apply to the vast majority of purchases are:

Land Registry fee

The Land Registry fee charged depends on the purchase / sale price and is based upon the sliding scale below. We submit the vast majority of our applications electronically and they are charged at the lower rate. If you are buying an unregistered property that has to be registered for the first time, a new build property or a property that is being transferred out of a larger title the postal fees apply.

Value of property sold (£) Fee - Electronic Fee - Postal
0 - £80,000 £20 £40
£80,001 - £100,000 £40 £80
£100,001 - £200,000 £95 £190
£200,001 - £500,000 £135 £270
£500,001 - £1,000,000 £270 £540
£1,000,001 and over £455 £910

Stamp duty land tax

Stamp duty land tax has become increasingly complex in recent years with the introduction of higher rates of tax for those who already own other properties and / or are buying holiday homes or homes to let and reduced rates for genuine first time buyers. Consequently, the regime has become far greyer and we would strongly recommend that you consult the appropriate HMRC site (see links below) for more information. We submit the tax return on your behalf based upon the information you give us.

Properties in England: HMRC's website

Properties in Wales: by using the Welsh Revenue Authority's website here.

Bank transfer fee

We charge a flat rate of £40+ VAT for a same day transfer eg if sending the purchase monies. If the money is not required the same day we use the BACs system and do not make a charge.

Identity check administration fee

We charge a flat rate of £10+VAT per name. We have to do this as part of the due diligence process.

Searches

In the vast majority of cases we always apply for the following searches:

  • Environmental search which will check whether there are any issues relating to contaminated land, flooding, ground stability issues, radon gas etc
  • Local search which is answered by the local authority and relates to planning consents that affect the property, road adoption, planned road schemes, whether the property is in a conservation area etc
  • Water authority search to check whether the property is plumbed into mains water and sewers

We apply for the searches through a search portal and the portal may also recommend other searches that are applicable to the area where the house is located. In this area where our offices are located we routinely apply for coal authority searches, more detailed flood searches and radon gas assessments. There are a whole host of other searches that are optional eg plan searches which reveal planning consents that effect the area around the property rather than just the property itself.

For this reason it is very difficult to estimate exactly how much the searches will cost. However, the vast majority are usually between £250 and £300 for a pack. We always request £300 on account of costs and this is more than enough to cover the costs in the vast majority of cases.

  1. Standard disbursements that apply to the vast majority of sales are:

There are far fewer third party costs attached to selling a property.

Where the property is registered at HM Land Registry we download the title documents. This usually costs £3 per document. On average the charge is £9 - £12 per property. This may double for leaseholds.

If there is a mortgage to repay we change our standard bank transfer fee of £40+VAT and there would also be the charge for checking identity as referred to above.

  1. Additional disbursements that apply to some leaseholds are

Leasehold sales and purchases are always more expensive than freeholds because there is considerably more legal work to undertake (see supplementary legal fees below). In addition there will almost definitely be additional third party costs, usually payable to the freeholder or their managing agent.

If you are selling a property you will usually have to pay for a management pack which can cost £300 or thereabouts.

If you are buying it is usual to serve notice of transfer and mortgage on the freeholder, who will always charge for receipting the notice. In addition you may have to enter into a Deed of Covenant with the managing agents and / or become a member of the management company and obtain a share certificate. The managing agents / freeholders always charge administrative fees for processing the paperwork and they can be large fees in excess of £200 - £300.

You should always allow additional third party costs of £250 - £400 for any leasehold sale or purchase.

Other Costs for additional work

Certain types of transaction attach additional legal fees because they are non standard and involve additional work on our part. They are listed below.

We have tried to cover every eventuality. Most rarely apply but some are more common eg supplements for leaseholds, new builds, dealing with Help to Buy ISA’s, no completion no fee

No completion no fee £250.00 + VAT
Leaseholds £250.00 + VAT
New Build properties £250.00 + VAT
Shared Ownership £250.00 + VAT
Additional parcels of land / additional title numbers £100.00 + VAT
Deed of Trust £250.00 + VAT
Deed of Grant/Variation £200.00 + VAT
Deed of variation of Lease £300.00 + VAT
Personal Guarantee Advice £250.00 + VAT per person
Leasehold property supplement £250.00 + VAT
Drafting additional Contract packages for sale contract race £175.00 +VAT
Deed of Easement (to grant rights) £400.00 + VAT
Statutory Declaration for Title rectification £150.00 + VAT
Additional Bank telegraphic transfer admin fee (within UK) £40.00 + VAT
Bank telegraphic transfer abroad admin fee £60.00 + VAT
Copy Title Deeds following purchase completion £30.00 + VAT
File retrieval after completion from Archive Storage £30.00 + VAT
Deed of Covenant / Licence to Assign £150.00 + VAT
Preparation of Contract package for auction sale £300.00 + VAT
Approval of Contract package prior to auction purchase £200.00 + VAT
Attending auction sale Price available on request
Researching and setting up a Title Repair / indemnity policy £50.00 +VAT
Obtaining copy building permission / Building regulation consent £50.00 +VAT
Unregistered titles – producing epitome / first registration £250.00 +VAT
Obtaining copy guarantees (e.g. FENSA, Electrical, NHBC) £50.00 + VAT
Drafting Tenancy Agreement £150.00 VAT
Drafting Licence to Occupy £100.00 + VAT
Housing Association property surcharge £175.00 + VAT
SDLT form completion on shared ownership and stair casing (sale only) £50.00 + VAT
Removal of second and subsequent charges £50.00 + VAT
Dealing with matrimonial or third party lawyers £200 plus VAT
Contract races, sale or purchase £250 plus VAT
Dealing with second or subsequent mortgages on a purchase £150 plus VAT
Gifted deposit £50.00 + VAT
Gifted deposit from abroad £75.00 + VAT
Flying freehold deed of mutual covenant preparation £250.00 + VAT
Deeds of guarantee £200.00 + VAT
Deed of postponement £250.00 + VAT
Cheques returned unpaid or cheques stopped at client’s request £15.00 + VAT
Assignment of insurance policies between policy holders £200.00 + VAT
Freeholds with management company or rent charge £150.00 + VAT
Bridging loans £495.00 + VAT
Obtaining access between exchange and completion £100.00 + VAT
General Data Protection Regulations – access to personal data £10.00 + VAT
Shared ownership £250.00 + VAT
Transfer of part £300.00 + VAT
Purchase of share of freehold £150.00 + VAT
Expedition fee if completion required within 10 working days of exchange £200.00 + VAT
New Build / Conversion Supplement £350.00 + VAT
Buy to let supplement £250.00 + VAT
Approve existing tenancy £50.00 + VAT
Vendor gifted equity / concessionary purchase £100.00 + VAT
Ex-pat / foreign client living abroad £100.00 + VAT
Help to Buy Mortgage or similar scheme £200 plus VAT
Help to buy ISA. £50.00 + VAT per ISA
Lease extension (private negotiation with landlord only) £450.00 + VAT
Solar panels subject to a lease £150.00 + VAT
Final staircasing under shared ownership lease £350.00 + VAT
Dealing with Paragon, Kent Reliance, Vida Home Loans, Foundation & other lenders with additional requirements £250.00 + VAT

Fee scales - remortgaging your property

Our standard fee for remortgaging a freehold property from one high street lender to another is £300 + VAT + disbursements. In most instances this equates to approximately £500 inclusive if we use search insurance (see below) or £750 if we have to apply for searches.

Disbursements or third party costs can vary significantly from transaction to transaction and we also make additional charges for additional, non standard work. For instance, we charge more for leasehold and buy to let remortgages and there are some non high street lenders with more demanding requirements where we will make a supplementary charge (see below).

Disbursements - remortgages

Land Registry fees

Land Registry fees are calculated on a different scale for remortgages, based upon the a mount you are borrowing:-

Amount being borrowed (£) Fee - Electronic Fee - Postal
0 - £100,000 £20 £40
£100,001 - £200,000 £30 £60
£200,001 - £500,000 £40 £80
£500,001 - £1m £60 £120

Proof of title documents

Where the property is registered at HM Land Registry we download the title documents. This usually costs £3 per document. On average the charge is £9 - £12 per property. This may double for leaseholds.

Bank transfer fee

We charge a flat rate of £40+ VAT for a same day transfer eg if sending the purchase monies. If the money is not required the same day we use the BACs system and do not make a charge.

Identity check administration fee

We charge a flat rate of £10+VAT per name. We have to do this as part of the due diligence process.

Searches

In most instances we are able to offer the option of either submitting a full search application, as referred to above, or using search indemnity insurance if the lender will accept it.

Indemnity insurance is the cheaper option, usually costing between £30 and £40 per transaction, and it will protect your lender against any losses that may occur as a result of an adverse search result. The downside is that it does not cover the environmental search, which also covers the flood risk.

Many lenders now insists on searches being carried out and, as referred to above, we always request the sum of £300 on account of costs.

Additional fees – remortgages

Please note that there will be additional fees payable in certain circumstances where there is additional unforeseen work. Whilst this is unlikely in most cases, please bear in mind the following:

  • If your property is currently unregistered your re-mortgage will trigger automatic first registration and the fees will increase (see above). We also make an additional fee of £250 plus VAT
  • We charge an extra £50 + VAT for buy to let remortgages
  • If we have to transfer the property from one name to two (or vice versa) our fees will increase by £250.00 plus VAT. In addition there may be a need to take out an insurance policy to cover the terms of the Insolvency Act (this depends on your lender). This will usually cost between £120 and £170 depending on how much you are borrowing. Further details will be sent to you if a policy is required
  • If there is a problem with the title to your property, then there may also be a need for an insurance policy. Once again this is strictly subject to the agreement of your new lender. Our fee will increase by £50 plus VAT
  • If we have to prepare a deed of postponement to allow your new lender to have first charge, we will have a fee of £275.00 plus VAT
  • If we have to remove a caution, notice or restriction from the Land Registry we will charge £100.00 plus VAT
  • Completing the Land Tax Form SDLT1 (if Stamp Duty is payable) is an additional £95.00 plus VAT
  • If we are re-mortgaging a leasehold property we will need to charge and additional £250.00 plus VAT. There will also be a management company fee to obtain a management pack, if one is required.
  • For removal of a personal charge £75.00 plus VAT
  • Should we need to check your current Tenancy Agreement to comply with your mortgage lenders conditions an additional fee of £50.00 plus VAT
  • If the new loan involves staircasing we charge £395.00 plus VAT
  • For each additional C.H.A.P.S payment we charge £40.00 plus VAT

Referral fees

We sometimes pay a referral fee to a third party for introducing a new client to us. The sum that we pay may vary from case to case but is always deducted from our legal fee. We will make it known to you in our initial correspondence if such a fee is payable.

This cost is a standard authorised charge that a law firm may make to attract business. Our own fee remains competitive in the market place and the payment of the marketing allowance would never compromise our independence when acting on your behalf, and you are free to raise questions on all aspects of the transaction.

The introducer has signed up to a referral agreement stating that clients are not cold called in order to obtain their business. If you have been cold called ie you received an unsolicited telephone call or visit please could you advise us immediately.

As there is a referrer involved we will on occasions need to supply them with information about the transaction which might be regarded as confidential to you (such as proposed exchange dates, mortgage amounts, completion dates etc). Please note that by signing the Terms and Conditions of Business form you are agreeing to us sharing information with the referrer where this will help your transaction proceed smoothly to completion.

How long will it take to complete?

There are a huge number of factors which determine or influence how long a transaction might take. The average process takes between 10 and 14 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a property with a mortgage in principle and no upward chain, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, maybe nearer 5 months. In such, a situation additional charges would apply.

Remortgages are generally quicker and we aim to complete the remortgage within 14 days of receipt of your mortgage offer. This does depend upon it being a standard matter without any additional work eg a simultaneous transfer of equity.

Our team

We have a large and very experienced Conveyancing team that has been undertaking substantial volumes of property work both locally and nationally for over 30 years.

Your matter will always be run by a fully qualified lawyer; either a Solicitor, Licenced Conveyancer or Legal Executive. Most also have an experienced but unqualified legal assistant. You will be made aware of the person who will have the day to day responsibility for your file at the beginning of the process. All staff have direct dial telephone numbers and email addresses.

We try to respond to calls, emails and correspondence as quickly as we can but with a huge increase in volumes of emails that come in every day it has become increasingly difficult to deal with all queries on the day they are received.

Martin-Kaye has Conveyancing Quality Scheme, Lexcel and Investor in People accreditations and we are also the vast majority of the lender panels including many non high street and buy to let lenders.

Complaints process

We rarely receive complains, but if you do have a grievance, please click here.