Purchase of Residential Property (Conveyancing)

The Firm deals with transactions for clients buying a home, whether it be a flat, house, new-build property land to build upon. The work may involve: communications and advice by the solicitor with the client, correspondence with estate agents and the seller’s solicitor, drawing up a range of documents including a formal legal offer and further missives, examination of title, inspection of searches and reports, drawing of a new title (disposition) and mortgage security where necessary, arranging completion/settlement of the transaction, obtaining and managing the funds from both client and mortgage lender, completion of Anti Money Laundering procedures, submission of LBTT (Scottish Stamp Duty) return and making payment of tax where due to Revenue Scotland, registration of new title (and mortgage security where funding  comes from a lender), reporting to client and lender after registration.

For a standard Purchase transaction our fees commence at £595.00 plus vat £119.00. This fee may increase if the purchase transaction becomes more complex.

Outlays are (for a transaction with price of say £160,000 part-funded by a mortgage) £370 to Registers of Scotland for registration of the title, £70 for registration of the mortgage, £20 for Advance Notice for mortgage, £300 for LBTT (though less if first purchase and more – payment of Additional Dwelling Supplement/ADS -  if buying a second property). LBTT and title registration dues change on sliding scales according to the price of the property, so the foregoing illustration is not applicable to properties of different prices.

Sale of Residential Property (Conveyancing)

The Firm deals with transactions for clients selling a home, whether it be a flat, house, or land to build upon. The work may involve communication and advice by the solicitor with the client, correspondence with estate agents and the purchaser’s solicitor, drawing up a range of documents including a formal legal acceptance of the buyer’s offer and further missives, provision of title, ordering of searches and reports, revising of a new title (disposition) and discharging mortgage security where necessary, arranging completion/settlement of the transaction, managing the funds from buyer’s lawyer and redeeming outstanding mortgage to the lender, registration of discharge where necessary, reporting to and settling with the client.

Our fee for this work starts at £495.00 plus vat £99.00 but will increase if the transaction becomes more complex for example if there are alterations to the property.

Outlays are £70 for registration of the mortgage discharge, £20 for Advance Notice for title, £150 for title, property, and mining searches.

Remortgage of residential property (Conveyancing)

The Firm deals with transactions for clients who are remortgaging a home. The work may involve communication and advice by the solicitor with the client, examination of title, drawing up a range of documents, including a new mortgage security and a discharge of the old mortgage, ordering and inspection of searches and reports, obtaining  and managing funds from the new mortgage lender, redeeming outstanding mortgage to the old lender, registration of discharge arranging completion/settlement of the transaction, registration of new mortgage security, reporting to client and lender after registration.

The fixed fee for this work may be £350 plus vat £70.

Outlays are £70 for registration of the mortgage discharge, £70 for registration of the new mortgage security, £20 for Advance Notice for the security, £150 for title, property, and mining searches.

Discharge of security

For those lucky enough to have paid off their mortgage, there is an exercise to update title deeds known as discharge of security. Security is the correct Scottish legal word for mortgage. The mortgage lender has a charge over the client’s title while the loan remains under repayment, and this can be removed once full redemption has been made and the bank or lender no longer has a claim over the property.

For a basic discharge of security, the fee may be £200 plus vat £40.

The outlay is a charge of £70 payable to the Registers of Scotland.