Trentside Legal

Please Note

  • This fees information is to assist you in finding out what our fees are likely to be for your transaction but will be dependent upon the information you have available to you when making the enquiry.  If there are changes in your circumstances or the property price etc, our charges may change.

    It is important that you give us accurate information at the outset so we can compare the fees which you calculate against any changes there may be.  For example if the price you pay for a property is more than you originally thought, you may fall into a higher charging bracket, stamp duty land tax may be more, the property may be leasehold when you initially thought it was freehold, indemnity insurances may be required etc etc.  All things which we may not be aware of at the time of the initial quote.

    We will provide you with a written fees estimate on request and will confirm these fees if you instruct us to act on your behalf.  If any changes come to light in the nature of your transaction, we will inform you as soon as practicable of what they are and if there is a change to the amount, we will be charging you and wherever possible, before incurring those additional charges.  If an agreement can't be reached, we may have to cease working for you or if the work is to continue, we may have to charge at our hourly rate which is currently £180 plus vat.  Our hourly rate is broken down into 6-minute units for attendances and preparation, and our routine letters/emails and telephone calls are charged at £18 plus vat each.  If more time is spent on the letters/emails or telephone calls, they will be charged on a time basis at £180 plus vat an hour.

    Our fees may increase by:-

    £100 plus vat if there are solar panel for the additional work involved.  If the panels are leased and the lease requires alterations, there will be additional fees dependent upon the work required.

    £150 plus vat if the property is leasehold and note that there may be additional fees payable to others such as fees to Landlords and Management Companies, ground rents, services charges none of which may be known to us at the outset of the case

    £100 plus vat if the property is a newbuild as there is more work involved.  There may be further disbursements too such as the builder's solicitors requiring you to pay for the transfer document.  Some builders give financial incentives to assist you with the cost of your move, if so, we will give you full details

    £30 plus vat for any indemnity insurances which we may have to take out for you in view of the additional work involved.

    There may be further payments to others which we will inform you of as they come to light such as Landlords and Management Companies.

    If you are referred to us by an introducer where we will pay them a referral fee, we will provide you with details of the arrangement and the fee we pay in the client care information which we send you at the start of your case. We generally pay a fee of £50 plus VAT which will be added to our costs. 

    We generally say that a purchase transaction takes around 8 - 10 weeks but this time frame is dependent upon any searches, mortgage offers and more particularly the time it takes for you and third parties to respond to us and other parties in the chain.

    We will endeavour to work to your timescale, but we can't make any promises as we can't guarantee the co-operation of others in the process

Remortgage Costs - What work is involved?

We charge a fixed fee for dealing with a purchase. The work we carry out for this charge will consist of the following: - 

investigating the title to the property to include: carrying out searches with respect to title and local government information for the property; 
o obtaining a redemption figure from your current mortgage lender ;
advising you in respect of your mortgage offer;
transferring funds by telegraphic transfer to your current lender to redeem the mortgage (if applicable);
transferring the remainder of funds (if there are any) to you;
registering the property and mortgage with the Land Registry to include the Property Fraud Restriction which may afford you some protection against fraud.

Please click here for details of the key stages.

We have set out below the things you are likely to have to pay for and an estimate as to their cost. 

Our Fee - £300 plus VAT
Our Costs for dealing with the transactions as set out above.
Telegraphic Transfer Fee - £36.00 per transfer
The cost involved in transferring any funds through the banking system.
Online Identification Check - £5.40 per name
An identification check we are required to carry out against our clients.
Bankruptcy Search Fee - £2.00 per name
The cost of obtaining a bankruptcy search against all parties involved in the transaction.
Land Registry Official Search Fee - £3.00 per Title Number
An official search of whole or part is used to protect your interest in the property. The search prevents registration of an adverse interest for 30 business days to allow us to lodge your application.
No Search Indemnity Insurance - Based on the Value of the Property - Click here for table
This is an indemnity insurance we take out to cover you and your lender for the lack of searches carried out against the property. A lender would require you to have the Local, Water and sometimes Coal Search carried out and this insurance protects you and them against any adverse entries which may have been revealed had you had the searches. It does not protect you against adverse entries you are aware of. 
Land Registry Registration Fee - Scale basis - Click here for table
The cost of registering your purchase at the HM Land Registry.

Example Quote
Remortgage of Freehold Property at a value of £175,000.
There is a current mortgage lender who's charge will be redeemed. 
Two people remortgaging.
Surplus to be returned to client on completion.
Property is already registered at HM Land Registry.

Our Fee inc. VAT - £360.00
Telegraphic Transfer Fee inc. VAT - £72.00
ID Check inc. VAT - £10.80
Official Search Fee - £3.00
No Search Indemnity - £38.00
Land Registry Registration Fee - £30.00
Office Copy Entries - £6.00
Bankruptcy Search Fee - £4.00
TOTAL = £523.80

Please note that as a sole practitioner, our Solicitor is not on the panel for all mortgage lender's. We can act for the high street lenders but, some of the more obscure lenders will not accept us. To ensure that we can act for your lender, please call our offices to advise which company you are intending to take your mortgage out with.