We are accredited as part of the Law
Society’s Conveyancing Quality Scheme (CQS). The scheme is designed to improve
transparency of transactions, raise service levels and provide better communication
and a more efficient process.
Purchase
of a residential property
Our fees cover all of the
work required to complete the purchase of your new home, 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.
Conveyancer's
fees
Our fees are based on a sliding scale
determined by a number of factors but our fees range between £900 + VAT and £3200 + VAT.
In the majority of transactions we will
be able to give you an upfront quote of our legal fees and disbursements (third
part costs). If it is difficult to determine what a transaction will involve we
will base our fees upon the time spent dealing with the transaction at an
agreed hourly rate; however this is quite rare.
For example, for the purchase of a
freehold property worth £250,000 we would generally charge £1000 + VAT.
Our fees assume that:
·
it
is a standard transaction and that no unforeseen matters arise including for
example (but not limited to) a defect in title which requires remedying prior
to completion or the preparation of additional documents ancillary to the main
transaction
·
the
transaction is concluded in a timely manner and no unforeseen complication
arise
·
all
parties to the transaction are co-operative and there is no unreasonable delay
from third parties providing documentation
·
no
indemnity policies are required. Additional disbursements may apply if
indemnity policies are required.
Conveyancer's
disbursements
Disbursements are costs related to your
matter that are payable to third parties, such as Land Registry fees and Search
fees. We handle the payment of the disbursements on your behalf to ensure a
smoother process. Below is a list of potential disbursements:
·
Search
Fees (including pre-completion searches) - £400 (approximately depending on
location of property)
·
Electronic
Money Transfer Fee - £49 (incl VAT)
·
Electronic
Anti Money Laundering Check - £5 per person
·
Lender’s
Transaction Fee - £30 (required by some lenders when buying with a mortgage)
·
Stamp
Duty / Land Tax – Please see below
·
Land
Registry Registration Fee*
o
£0
– 80,000 £20
o
£80,001
– 100,000 £40
o
£100,001
– 200,000 £100
o
£200,001
– £500,000 £150
o
£500,001
– £1,000,000 £295
o
£1,000,000
– and above £500
*
The Land Registry Fee may be double the fee noted above if we are unable to
register the property purchase electronically. We can give you an accurate
figure upon receipt and review of the property documents.
Potential
Leasehold Disbursements:
When purchasing a Leasehold property, there
are certain disbursements which will be set out in the individual lease
relating to the Property. The disbursements which we anticipate will apply are
set out separately below.
·
Notice
of Transfer fee – This fee if chargeable is set out in the lease. Often the fee
is between £50 - £200.
·
Notice
of Charge fee (if the property is to be mortgaged) – This fee is set out in the
lease. Often the fee is between £50 - £200.
·
Deed
of Covenant fee – This fee is provided by the management company for the
property and can be difficult to estimate. Often it is between £50 - £200.
·
Certificate
of Compliance fee - To be confirmed upon receipt of the lease, as can range
between £50 - £200.
This list is not exhaustive and other
disbursements may apply depending on the term of the lease. These fees vary
from property to property and can on occasion be significantly more than the
ranges given above. We can give you an accurate figure upon receipt and review
of the lease.
You should also be aware that ground
rent and service charge are likely to apply throughout your ownership of the
property. We will confirm the ground rent and the anticipated service charge as
soon as this we receive this information
Stamp
Duty or Land Tax (on purchase)
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 here..
How
long will my purchase take?
How long it will take from your offer
being accepted until you can move in to your property will depend on a number
of factors. The average process takes between 8-12 weeks.
It can be quicker or slower, depending
on the parties in the chain. For example, if you are a first time buyer,
purchasing a new build property with a mortgage in principle, it could take less
time. However, if you are buying a leasehold property this can take
significantly longer.
Stages
of the process
The precise stages involved in the
purchase of a property vary according to the circumstances. However, below we
have suggested some key stages that you may wish to include:
·
Take
your instructions and give you initial advice
·
Check
finances are in place to fund purchase and contact lender's solicitors if
needed
·
Receive
and advise on contract documents
·
Carry
out searches
·
Obtain
further planning documentation if required
·
Make
any necessary enquiries of seller's solicitor
·
Give
you advice on all documents and information received
·
Go
through conditions of mortgage offer with you
·
Send
final contract to you for signature
·
Draft
Transfer
·
Advise
you on joint ownership
·
Obtain
pre-completion searches
·
Agree
completion date (date from which you own the property)
·
Exchange
contracts and notify you that this has happened
·
Arrange
for all monies needed to be received from lender and you
·
Complete
purchase
·
Deal
with payment of Stamp Duty/Land Tax
·
Deal
with leasehold requirements (if applicable)
·
Deal
with application for registration at Land Registry
Sale
of a residential property
Our fees cover all of the
work required to complete the sale of your property.
Conveyancer's
fees
Our fees are based on a sliding scale
determined by a number of factors but our fees range between £900 + VAT and £3200
+ VAT.
In the majority of transactions we will
be able to give you an upfront quote of our legal fees and disbursements (third
part costs). If it is difficult to determine what a transaction will involve we
will base our fees upon the time spent dealing with the transaction at an
agreed hourly rate; however this is quite rare.
For example, for the sale of a
freehold property worth £250,000 we would generally charge £1000 + VAT.
Our fees assume that:
·
it
is a standard transaction and that no unforeseen matters arise including for
example (but not limited to) a defect in title which requires remedying prior
to completion or the preparation of additional documents ancillary to the main
transaction
·
the
transaction is concluded in a timely manner and no unforeseen complication
arise
·
all
parties to the transaction are co-operative and there is no unreasonable delay
from third parties providing documentation
·
no
indemnity policies are required. Additional disbursements may apply if
indemnity policies are required.
Conveyancer's
disbursements
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.
Below is a list of potential disbursements:
·
Land
Registry Fees (including pre-completion searches) - £10 - £25
·
Electronic
Money Transfer Fee - £49 (incl VAT)
·
Electronic
Anti Money Laundering Check - £5 per person
Potential
Leasehold Disbursements:
When selling a Leasehold property, there are certain disbursements which will either be set out in the individual lease relating to the Property or will be stipulated by the Management Company. You will need to pay for a leasehold information pack. The fee varies from property to property but we can give you an accurate figure upon receipt and review of the leasehold information. Often the fee is between £50 - £200.
How long will my sale take?
How long it will take from the buyer’s offer being accepted until you sale your property will depend on a number of factors. The average process takes between 8-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer with a mortgage in principle, it could take less time. However, if you are selling a leasehold property, this can take significantly longer.
Stages of the process
The precise stages involved in the sale of a property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
· Take your instructions and give you initial advice
· Prepare and send contract documents
· Obtain mortgage redemption figures (if any)
· Obtain leasehold information pack (if applicable)
· Take your instructions regarding any enquiries raised by the buyer’s solicitor
· Approve Draft Transfer
· Give you advice on all documents to be signed and send to you for signature
· Obtain pre-completion searches
· Agree completion date (date from which you no longer own the property)
· Exchange contracts and notify you that this has happened
· Complete purchase
· Redeem any mortgages
· Account to you with sale proceeds or transfer funds to any related purchase you may have
Mortgages or re-mortgages of a residential property
Our fees cover all of the work required to complete a new mortgage or a remortgage of your property.
Conveyancer's fees
Our fees are based on a sliding scale determined by a number of factors but our fees range between £500 + VAT and £900 + VAT.
I the majority of transactions we will be able to give you an upfront quote of our legal fees and disbursements (third part costs). If it is difficult to determine what a transaction will involve we will base our fees upon the time spent dealing with the transaction at an agreed hourly rate; however this is quite rare.
Our fees assume that:
· this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
· the transaction is concluded in a timely manner and no unforeseen complication arise
· all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
· no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Conveyancer's disbursements
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees and search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Below is a list of potential disbursements:
· Search Fees (including pre-completion searches) - £400 (approximately depending on location of property)