The service which Tibber Marks provides is bespoke, since no property transaction is the same. Our fees reflect the specific nature of each transaction.
However, we are able to provide a guide on the average range of costs for a straightforward transaction.
Tibber Marks charges on a fixed fee basis. We always provide an individual costs estimate at the start of every transaction (including disbursements), and update our clients during the course of the transaction should this estimate change.
The main factors which determine our charges include:
- The value of the property (as this affects the amount of risk which we assume);
- Whether it is standard i.e. a broadly straightforward transaction or with no unforeseen natters arising; or
- Any complicating factors.
The costs are made up of :
- The work which Tibber Marks does;
- Third party expenses which we incur on your behalf; and
- Any disbursements.
Sale of Freehold / Leasehold or Purchase of Freehold / Leashold
For a standard Sale or Purchase (whether that be freehold or leasehold), our fees range from £1,250 plus Vat – £3,000 plus VAT. High value or complex transactions may be charged up to 0.5% plus VAT of the transaction value.
Third Party Expenses
Third Party expenses are in addition to Tibber Marks’s fees and may include the following, depending on the transaction:
- Search fees (£300 – £500 depending on the Local Authority)
- HM Land Registry Fees (Details of these fees can be found here [INSERT LINK]
- Stamp Duty Land Tax (The amount depends on the value of the property)
- Notice of Transfer Fee (Leasehold transaction only paid by the Purchaser and only applicable if set out in the lease. £50 plus Vat – £200 plus VAT)
- Notice of Charge Fee (Leasehold Transaction only and only paid by the Purchaser if the Property is to be mortgaged, This fee is set out in the lease £50 plus VAT – £200 plus VAT)
- Deed of Covenant fee (Leasehold transactions only paid by the Purchaser and estimated between £50 plus VAT – £200 plus VAT)
- Certificate of Compliance Fee (Leasehold transactions only, estimated between £50 plus VAT – £100 plus VAT)
- Telegraphic Transfer fee (£40)
Simultaneous Sale and Purchase
Where we are instructed to act on a purchase and sale, we will charge these as separate transactions.
The average time of a transaction will take 8 – 12 weeks. It may be quicker or slower than this, depending on the individual circumstances of the transaction.
For a straightforward remortgage transaction (where there are no unforeseen or complicating factors), Tibber Marks will charge between £750 plus VAT – £2,500 plus VAT.
The typical time of a remortgage transaction will take four weeks. It may be quicker or slower depending on the individual circumstances of each transaction.
Third Party Expenses
Third Party expenses are in addition to Tibber Marks’s fees. For further details, please see the ‘Third Party Expenses’ section above under Freehold and Leasehold transactions.
As a property focussed law firm, Tibber Marks team has the experience, knowledge and expertise to navigate you through each transaction with expert advice. In the main, work is carried out by qualified solicitors, but when appropriate, work will be undertaken by conveyancers and paralegals.