Conveyancing Calculator
HIPS Package: Following the decision by Government to radically change home buying/selling by introducing the Home Information Pack (HIPS), the current calculator cannot be relied upon to provide an accurate picture of costs.
Currently HIPS applies to properties of 3 or more bedrooms and will apply to all properties by 2008. HIPS transfers the cost of searches and surveys to the seller rather than the buyer and will include an Index, Energy Performance Certificate, Evidence of Title, Standard Searches and additional information where appropriate.
RHY Law will be able to advise you on obtaining a quote for a HIPS package.
As a rough guide, buyers should subtract the cost of searches shown on the calculator, whilst buyers should add about £500 for a 3 bedroom property.
1 and 2 bed properties:
Buying: When purchasing the buyer, in addition to paying the legal fees, will also be responsible for the payment of various disbursements such as 'Search Fees' and 'Stamp Duty Land Tax'.
Most of these disbursements are payable to official bodies such as Local and Water Authorities, the Land Registry and the Inland Revenue.
Other disbursements included are Chancel Checks to establish possible liabilities to local Churches. Clients may also be asked for a contrubution to the Public Indemnity insurances.
Selling: As a seller you will be responsible for fees for Official Copy Entries and possible documents and CHAPS transfer fees. Remember to include the Estate Agents fees in your calculations.
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| Legal Fees: | ** |
|---|---|
| VAT @ 17.5%: | ** |
| Local Authority Search: | 200 |
| Enviromental Search: | 70 |
| Chancel Check: | 18 |
| Water Authority Search: | 50 |
| Land Registry Search: | 6 |
| Bankruptcy Search: | 2 |
| Land Registry Fee: | ** |
| Stamp Duty Land Tax: | ** |
| Public Indemnity Cover: | 83 |
| CHAPS Fees: | 36 |
| PURCHASE TOTAL: | ** |
| Legal fees: | ** |
|---|---|
| VAT @ 17.5%: | ** |
| Offical copy entries: | 8 |
| CHAPS: | 35 |
| SALE TOTAL: | ** |
| TOTAL: | ** |
|---|
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Instructing RHY Law LLP to act for you:
If you are satisfied with the above quote and would like to instruct RHY Law LLP to act for you click here to send an email with your details.
Purchase Notes:
1. Local Authority search fees vary between Councils. The figure shown above is an approximate sum that should be allowed for in your calculations.
2. If the property you are purchasing falls within a mining area then a Mining Search will be necessary.
3. On the purchase of a leasehold property there will also be Landlord's registration fees to be paid and apportionments of ground rent and service charges.
4. This quote applies to a transaction which proceeds in a normal manner. Unforeseen circumstances that arise during a transaction may cause an increase in the legal fee quoted.
Sale Notes:
1. If the property you are selling is leasehold the Landlord or Managing Agent may charge a fee for supplying important information about the property i.e. insurance details. Please allow approximately £150 for this in your calculations.
2. You must remember to include the Estate Agents fees in your calculations.
If you have any further questions do not hesitate to contact us on 01707 621100.
Click here if you would like to instruct us to undertake this conveyancing for you