COMMERCIAL CONVEYANCING FEE
In line with the transparency rules laid down by the Solicitors Regulation Authority, Bhogal & Co. Solicitors have a transparent solicitor fee structure for legal advice, applications, court work and in respect of our Commercial Conveyancing Fees. We offer a range of service options to suit your needs, with the aim of helping the public make informed choices about who to instruct.
The priced listed below are for guidance only. We will give you an accurate quote reflecting the complexity and urgency of your case in advance of any work undertaken.
All Prices are subject to VAT @ 20%
If you decide to instruct us, we will request a payment on account of the legal costs we have estimated. Typically, this is between £500 and £1000 excluding vat.
In our Client Care Letter, which you will receive at the start of your case, we publish hourly fee rates for our professional staff; however, when quoting for work, we normally provide a range of potential fees to cover all work on your application.
FEE SCALE – COMMERCIAL CONVEYANCING
We adopt a collegiate approach to our work, which means that lawyers of varying experience, from paralegals to qualified solicitors, may work on your case at different times. We will make clear in our client engagement letter who is responsible for your file, and we will name the remaining members of the team whom you can expect to know about the progress of your case.
The professional fees that will apply to your purchase/sale will be as follows. Our fees cover all of the work required to complete the purchase of the property, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
On each transaction, the fees you will pay will be a combination of the professional fees set out below, the petty costs set out below, and in the case of a purchase, Stamp Duty Land Tax. The costs set out below are an estimate and should the transaction become more protracted and complex, we will of course inform you before incurring costs.
Price (Sale and Purchase) Fee
Minimum fee £1,000 plus VAT
£ 350,000 – £ 1,000,000 0.3 per cent plus VAT
1,000,000 – £2,000,000 Fixed Fee £3,000 plus VAT
£2,000,000 – £5,000,000 0.15 per cent plus VAT
£5,000,000 – £10,000,000 Fixed fee of £10,000 plus VAT
As per the above scale, with the “price” calculated by multiplying the term by the rent. Ancillary documents (notably licences for alteration rent deposit deeds.) each to be charged at £375 plus VAT in addition to the fee scale above.
1. Short-term lease or licence: The higher of lease scale fee and £750 plus VAT
2. Deed of Surrender: The higher of scale fee (where a premium is to be paid) and £750 plus VAT
3. Stand-alone Licence for Alterations, Underletting or Assignment – £1,000 plus VAT.
These costs are usually paid by the tenant
4. Lease by reference to an existing lease (renewal lease): 50% of the fee as calculated above
5. Agreement for Lease: The above fee scale multiplied by 1.25.
6. Fee for service of a Section 25 Notice and triggering a break notice: £350 plus VAT
7. Fee for Schedule of Dilapidations: £400 plus VAT (but usually payable by the tenant). Interim Schedule with a Section 146 Notice – £500.
2. Petty Costs and disbursements Typically, Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The following petty costs and disbursements will apply to your purchase/sale:
Telegraphic transfer fee £ 25.00 per transfer VAT £ 5.00
Faster Payment fee £ 10.00 per transfer
VAT £ 2.00
AML Search fee £ 10.00 per client
VAT £ 2.00
We will need to carry out pre-completion searches (purchase only) including bankruptcy searches. The pre-completion property searches are charged at £3 each. Bankruptcy searches are carried out at the Land Registry and the cost is £2 per name searched.
Searches (purchase only) These costs depend on the particular property, local authority in question and the requirements of any particular lender. Commercial Searches are generally much more expensive than residential services. The costs are in the region of £600-£800 Land Registry Fees (purchase only) These costs vary according to the purchase price and whether or not a new ease is involved. Details can be found here. Stamp Duty or Land Tax (purchase only) This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website