Our quote for the legal work on your residential property sale will be given on a fixed fee basis, subject to assumptions which are set out below. All legal fees and additional costs quoted on this page include VAT (at the current rate of 20%) where applicable.
The quote that we give you will be based on your individual circumstances and will depend on the specifics of your particular sale. It will include all of the work needed to sell your property whether freehold, leasehold, and if you have a mortgage to repay. We will let you know if there is anything that we will need paying for in advance. Once we are ready to complete on your sale, we will send you a completion statement. If there is an outstanding balance to be paid on the statement this will need to be settled before we can complete your sale.
TSP legal fees for your Residential Property Sale: Our VAT inclusive fixed fees for a typical residential property sale range from £1,200 for a simple transaction to around £2,850 for a more complex sale, for example. These figures may vary in cases with special complications. Our average VAT inclusive fixed fee between January 2023 and June 2023 was £1,625. 84% of our fees were between £1,200 and £2,000.
In the event that we need to transfer funds by telegraphic transfer (TT), same day payment, we will make an additional charge for this service of £36 (including VAT) per transfer, in addition to which our bank will charge £6 (including VAT) per transfer, which will be payable by you. A Telegraphic Transfer may be required to repay a mortgage, for example. We will also give you the opportunity to choose to receive any balance of monies from your sale by same day transfer as opposed to BACs transfer, which may take 3-5 days, but we will need to charge for the same day service.
We are required by law to verify our client’s identity and also a number of other types of individual such as executors for example. We will charge £10 plus VAT (£12 in total) per individual / UK Company that we check. Where a company is located overseas the charge will be £35 plus VAT (£42 in total). More information on the types of individuals we are required to check can be found in our Terms of Business.
If you have a mortgage to repay or there is a balance of monies to be sent to you on completion then we will also charge you a VAT inclusive Telegraphic Transfer fee, per transfer, of £36. In addition to our fixed fee for the legal work you will also incur the costs shown in the table below. These additional costs are incurred by TSP when buying goods or services on your behalf. They are payable to third parties. We will pass this charge onto you, including VAT, where applicable. More detailed information on these costs can be found here and in the Glossary below.
|Additional costs involved in your property sale||Freehold||Leasehold||Includes VAT?||From||To|
|Official copies of your Registered Title||Yes||Yes||Yes||£7.20||£24|
|Bank Transfer Fee||Yes||Yes||Yes||£6||£6|
|Leasehold Information Pack||N/A||Yes||Yes||£120||£600|
In our FAQ section, which you can access by clicking the yellow FAQ tab above related people and related guides below, you will find important information on
- Key stages in your residential property sale
- Key assumptions about the cost of your residential property sale
- Key exclusions from the cost of your residential property sale
- How long will your residential property sale take?
Your case will be handled by Lawyers in our Residential Property team whose details can be found in related people below. Team Leader, Richard Broadhead, supervises the work of all of the lawyers in the Residential Property Team. Please read each profile for information on their experience and contact your preferred lawyer who will provide you with a quote tailored to your particular needs.