Residential - MLP Law

Residential Conveyancing

Our Services

Here at MLP our team has the ability and skill to carry out every redential property transaction desired, from a standard transaction to the most complex bespoke matter. Our costs reflect the level of assistance and care you will require, which is tailored to your needs, our risk and professional indemnity insurance costings, and the experiences of the fee earner acting on your behalf.

The types of transactions we are able to assist with (and are not limited to) include:

  • Buying/selling at Auction
  • Selling your home
  • Buying your new home
  • Sales by way of Probate/ Lasting Powers of Attorney
  • Asset distribution via Divorce/ Cohabitation Agreements
  • First time buyers utilising the Help to Buy Schemes/ISA's
  • New Build Plot Purchases and Sales Transfers of Equity
  • Transfers of Equity
  • Right to Buy Purchases
  • Leasehold Enfranchisement Lease Extensions
  • Lease extensions
  • Individual Purchases of Freehold Interests
  • Re-mortgages
  • Adverse Possession Claims
  • Repossession Purchases
  • Shared Ownership Property Sales and Purchases
  • Lost Title Applications
  • Registering your property for the first time Deeds of Gift
  • Deeds of gift
  • Declarations of Trust

Key Stages

The average duration of a standard sale/purchase transaction varies from case to case however on average freehold transactions take approximately 6-8 weeks to complete and leasehold transactions take approximately 10-12 weeks.

  • Preparing the Client Care documents based on your instructions.
  • Dealing with Money Laundering Requirements/ ID checks
  • Preparing/Awaiting the draft contract documents.
  • Liaising with the mortgage Lender for a redemption statement/mortgage
  • New Build Plot Purchases and Sales instructions
  • Obtaining a Management Pack
  • Submission of searches
  • Collation and review of title documents
  • Preparing our Title Report reviews for your perusal
  • Dealing with pre-contract enquiries
  • Negotiation of the contract Clauses
  • Arranging the funds/lender checks are in hand
  • Exchanging Contracts
  • Certifying title to your lender (where applicable)
  • Completion of your transaction. Post completion requirements (such as registration and payment of SDLT)

Pricing

We provide tailored cost estimates which give you a detailed breakdown of all fees and disbursements. Our current hourly rates are as follows:

  • Head of Residential Property - £330
  • Residential Property Solicitor/Associate/ Legal Executive - £250
  • Residential Property Consultant - £300
  • Residential Property Paralegal - £195

Although there are many factors to take into account, including whether the property is registered/unregistered, leasehold/freehold/; we are also able to offer fixed fees for some transactions. The table below gives an indication of our likely fees based on a sale, purchase or re-mortgage of a property.

PURCHASE OF A RESIDENTIAL PROPERTY

Property price range Legal fees (excluding VAT)
£0 – £249,999 £950.00
£250,000 – £499,999 £1,250.00
£500,000 – £749,999 £1,550.00
£750,000 – £999,999 £1,750.00
£1M+ 0.2% of purchase price of the property

Additional fees charged by MLP Law (excluding VAT) for Purchase

Chargeable service Fee (excluding VAT)
Expedited Fee £1,000.00
Leasehold Fee £150 House or £250 Flat
Mortgage Fee (dual representation) £200.00
Mortgage Fee (separate lenders solicitors) £450.00
Gifted Deposit Fee £125.00
New Build Fee £325.00
Shared Ownership Fee £250.00
Help to Buy Equity Loan Fee £400.00
Help to Buys ISA Fee £50.00
LISA Fee £95.00
Deed of Variation £500.00 (starting from)
Arranging Indemnity Policy £50.00
Statutory Declaration/Statement of Truth £200.00
BTL/HMO Properties £200.00
Unregistered Land Fee £200.00
Deed of Covenant Fee £150.00

SALE OF A RESIDENTIAL PROPERTY

Property price range Legal fees (excluding VAT)
£0 – £249,999 £850.00
£250,000 – £499,999 £1,150.00
£500,000 – £749,999 £1,450.00
£750,000 – £999,999 £1,650.00
£1M+ 0.2% of purchase price of the property

Additional fees charged by MLP Law (excluding VAT) for Sale

Chargeable service Fee (excluding VAT)
Expedited Fee £1,000.00
Leasehold Fee £150 House or £250 Flat
Mortgage Fee £175.00
HTB/Secondary Charges Fee £150.00 (each)
Shared Ownership Fee £250.00
Key Undertaking £100.00
Deed of Variation £500.00 (starting from)
Arranging Indemnity Policy £50.00
Statutory Declaration/Statement of Truth £200.00
Unregistered Land Fee £200.00
Licence to Assign Fee £150.00
Deed of Covenant Fee £150.00

REMORTGAGE OF A RESIDENTIAL PROPERTY

Property value range (£) Legal fees (excluding VAT)
£0 – £249,999 £550.00
£250,000 – £499,999 £650.00
£500,000 – £749,999 £750.00
£750,000 – £999,999 £850.00
£1M+ PoA

TRANSFER OF EQUITY OF A RESIDENTIAL PROPERTY

Property value range (£) Legal fees (excluding VAT)
£0 – £249,999 £625.00
£250,000 – £499,999 £725.00
£500,000 – £749,999 £825.00
£750,000 – £999,999 £925.00
£1M+ Please enquire the team at hello@mlplaw.co.uk

Additional fees charged by MLP Law (excluding VAT) for Transfer of Equity

Chargeable service Fee (excluding VAT)
Expedited Fee £1,000.00
Leasehold Fee £150 House or £250 Flat
Mortgage Fee (dual representation) £200.00
Mortgage Fee (separate lenders solicitors) £450.00
Shared Ownership Fee £250.00
Deed of Variation £500.00 (starting from)
Arranging Indemnity Policy £50.00
Statutory Declaration/Statement of Truth £200.00
Unregistered Land Fee £200.00
Licence to Assign Fee £150.00
Deed of Covenant Fee £150.00

Disbursements and Third Party Costs charged by MLP Law for ALL transactions (if applicable)

Admin/Disbursements Fee (excluding VAT)
Telegraphic Transfer Fee £32.00
ID Fee (per person) (Dependent on level of checks required) £11.00
ID Fee (Company) (Not including required checks on individuals) £22.00
Lawyer Checker Fee £18.00
File Storage Fee £30.00
Title Deeds Forwarding Fee (by way of additional profit cost) £30.00
Conveyancing Search Pack PoA – Varies from region to region
Land Registry Bankruptcy Search Fee (per person) £2.00
Land Registry Priority Search Fee (per title) £3.00
Land Registry Office Copy Fee (per document) £3.00
Land Registry Registration Fee PoA – Based on value of the property
Companies House Registration Fee £15.00
Stamp Duty Land Transaction Tax or Land Transaction Tax PoA – Based on value of the property and number
Lender exchange fee (by way of additional profit cost) £25
LMS fee £25

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