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COSTS COMPARISON: residential PURCHASE transaction

£200,000

 

ITEM

HUMPHREYS & CO. APPROACH:

NO EXTRAS

ANOTHER APPROACH:

EXTRA ADD-ONS

Time charges

Charges

VAT

Charges

VAT

Time charges

      £745.00

     £149.00

      £695.00

      £139.00

Office supplies charges

       £89.40

       £17.88

         £0.00

         £0.00

Bank-to-bank transfer charge

       £35.00

         £7.00

       £35.00

         £7.00

Total (including VAT)

   £1,043.28

      £876.00

Expenses

SDLT

   £1,500.00

   £1,500.00

Land Registry registration fee

       £95.00

       £95.00

Complete set of searches

      £140.31

      £200.00

Bankruptcy search fee

         £2.00 (per person)

         £2.00

Land Registry search fee

         £3.00

         £3.00

Total

   £1,740.31

   £1,800.00

Time charge extras

(most transactions)

ID verification

         £0.00

         £0.00

       £18.00

         £0.00

Leasehold supplement

         £0.00

         £0.00

      £150.00

       £30.00

Acting for lender

         £0.00

         £0.00

      £150.00

       £30.00

New build supplement

         £0.00

         £0.00

      £150.00

       £30.00

SDLT return submission

         £0.00

         £0.00

       £75.00

       £15.00

Total (including VAT)

         £0.00

      £648.00

Total costs all-in for routine transaction (most cases)

   £2,783.59

(of which £1,500 attributable to SDLT)

   £3,324.00

(of which £1,500 attributable to SDLT)

 

Notes

•    Humphreys & Co. request an initial on-account payment of £265.00 (applied against totals above i.e. not extra).

•    Humphreys & Co. offers its clients “no-move-no-fee” terms, meaning that if the transaction does not reach completion you will only be invoiced for any expenses already incurred at the time you decide not to proceed.