Residential Property Fees Explained
At Goughs we pride ourselves on having transparent pricing
Understanding you, your situation and how we can support you
At Goughs, we pride ourselves on building relationships with our clients to understand you, your situation and how we can support you. With that in mind, we provide personal estimates, tailored to you for the work we carry out on your behalf.
We are delighted to be able to provide you with an estimated cost based on the information provided by you at the time of your initial enquiry.
To give you an idea of what the cost may be, here are a few recent examples that we have sent to clients when putting quotes together for their residential property legal requirements.
All of our legal fees include the preparation of SDLT Returns and acting for Mortgage Lenders.
Please note that leasehold transactions incur an additional charge of £295 + VAT for a sale and £495 + VAT for a purchase.
If the transaction becomes more complex than anticipated, we will of course contact you to discuss the implications, including any previously unexpected additional costs.
We will request payment on account up front to begin work on your transaction, the level of payment will depend on the nature of the work involved. For example, for a freehold sale and purchase we will ask for £400.
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Your property fee questions answered
- Taking your instructions
- Reviewing contract pack documentation/paperwork relating to the property
- Undertaking appropriate searches and reporting on the results
- Carrying out title checks
- Raising enquiries and reporting on the replies (purchase)
- Reviewing mortgage offers and reporting on the mortgage
- Reporting on the Legal title
- Obtaining mortgage funds from the lender
- Payment of completion monies to seller’s Solicitor
- Preparing and submitting the Stamp duty return
- Preparing and submitting the Land registry application
- Taking your instructions
- Obtaining necessary title documentation from Land Registry
- Dealing with enquiries raises
- Dealing with payment of completion monies from the buyer’s Solicitor
- Accounting to you with the sale proceeds
- Obtaining redemption statements from lenders and redeeming the mortgage
A typical sale or purchase transaction will take between 8 to 12 weeks from the issue of or receipt of Contract papers.
A straightforward transfer of equity or re-mortgage transaction will typically take between 6 and 8 weeks from the time we receive instructions from the Lender.
However there are some instances where the timescale may be reduced, for example if there is no chain or if the matter is a cash transaction not requiring a mortgage.
There are also instances where this may be increased, usually where there is a long chain or the matter is more complex than the usual transaction. We will always keep you updated as to progress throughout.
Our clients rate us as excellent
Nadine has been excellent throughout, keeping us regularly informed of all progress and we liked her very practical approach to things. The support staff at Goughs have also been excellent throughout, hence, instructing Goughs on 4 property matters. Nothing too much trouble and all requests were dealt with very swiftly
Meet the Residential Property team
Why choose Goughs?
Local since 1882, with an excellent reputation
First-class, effective service
Largest solicitors in Wiltshire
Seven offices throughout the county
Nationally accredited law firm
Recognised by Legal 500 and Chambers & Partners
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