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Conveyancing

Sale of Residential Property

 

Our fees cover all of the work* required to complete the sale of your new home, 

 

Conveyancer's fees and disbursements

  • Legal fees for acting on your behalf £1,400.00 plus VAT of £280.00 to £2,000.00 plus VAT of £400.00.

  • Legal Fees for dealing with redemption of your mortgage £200.00 plus VAT of £40.00 to £250.00 plus VAT of £50.00.

  • Our additional legal fees for dealing with a leasehold property £300.00 plus VAT of £60.00.

  • Our additional legal fees for dealing with a shared ownership property £300.00 plus VAT of £60.00

  • Our additional legal fees for dealing with a retirement property - £300.00 plus VAT of £60.00

 

Disbursements


These are costs relating to the transaction which are payable by us to third parties.

  • Land Registry fees for obtaining copies of your deeds £3.00 (per item) plus VAT of £0.60. Approximately 2 documents are required for a freehold property and 5 documents are required for a leasehold property.

  • If a management company maintains common parts of a freehold estate then a fee will be payable to it for information about its charges ranging from £200 to £400 plus VAT of £40 to £80.

  • Electronic money transfer fee £12.00 plus VAT of £2.40.
     

Additional leasehold disbursements 

  • Additional disbursements applicable for a leasehold properties - Management Company/Landlords Information Packs £100.00 plus VAT of £20.00 to £500.00 plus VAT of £100.00.

 

Stages of Process


The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that apply to the majority of transactions. We will:

 

  • Take your instructions and give you initial advice

  • Arrange for you to complete the protocol forms

  • Obtain and investigate the title to the property and your right to sell the property

  • Obtain a redemption statement from your mortgage lender

  • Obtain replies to enquiries from any management company

  • Prepare contract documents and send these to the buyer’s solicitor

  • Respond to any necessary enquiries of the buyer's solicitor

  • Give you advice on all enquiries received

  • Send final contract to you for signature

  • Agree completion date (date on which you sell the property)

  • Exchange contracts and notify you that this has happened

  • Calculate any apportionments to be collected

  • Arrange for all monies required to be collected from the buyer’s legal representative

  • Complete the sale

  • Pay the estate agent, if any

  • Redeem the mortgage, if any

  • Account to you.

 

How long will my house sale take?


How long it will take from the offer being accepted until the sale completes will depend on a number of factors. The average process takes between 6-12 weeks.

 

It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 9 months. In such, a situation additional charges would apply.

*Our estimated fee assumes 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

  • this is the assignment of an existing lease and is not the grant of a new lease

  • 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.

 

Purchase of 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 and disbursements


•    Legal fees for acting on your behalf £1,600.00 plus VAT of £320.00 to £2,500.00 plus VAT of £500.00.
•    Legal Fees for acting on behalf of your lender £200.00 plus VAT of £40.00 to £500.00 plus VAT of £100.00.
•    Our additional legal fees for dealing with a leasehold property £300.00 plus VAT of £60.00

 

Disbursements


These are costs relating to the transaction which are payable by us to third parties.

  • Search fees £250.00

  • Chancel Indemnity Premium £20.00

  • Land Registry Search Fees £3.00 + VAT of £0.60.

  • Bankruptcy Search Fees (per Name) £2.00 + VAT of £0.40.

  • Electronic money transfer fee £12.00 plus VAT of £2.40.

 

Additional leasehold disbursements

  • Landlords Registration Fees (Depending on the Property) £100.00 plus VAT of £20.00 to £400.00 plus VAT of £80.00.

 

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.

Land Registration fees (on purchase)


Land Registry fees are also payable to register you as the new owner of the property and details of any mortgage you may have.   These fees are based on the purchase price of the property and the amount of the mortgage if any you are obtaining. These fees can be calculated by visiting the Land Registry website at the following link http://landregistry.data.gov.uk/fees-calculator.html . There is no VAT on land registration fees.

How long will my house purchase take?


How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8-12 weeks for a freehold property and 12-16 weeks for a leasehold property. It can be quicker or slower, depending on the parties in the chain. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation additional charges would apply which we would discuss with you beforehand.

Stages of the Process


The precise stages involved in the purchase of a residential 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

  • 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 application for registration at Land Registry


*Our estimated fee assumes 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

  • this is the assignment of an existing lease and is not the grant of a new lease

  • 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.

Remortgage of residential properties


Our fees cover all the work* required to complete the remortgage of your property including redeeming any mortgage secured against it.


Conveyancer’s fee and disbursements

 

  • Legal fees for acting on your behalf are estimated to be between £500.00 plus VAT of £100.00 to £800.00 plus VAT of £160.00.

  • Fee for dealing with redemption of existing mortgage - £200.00 plus VAT of £40.00 to £300 plus VAT of £60.00.

  • Electronic money transfer fee £12.00 plus VAT of £2.40.

 

Disbursements 

  • Land Registry fees for obtaining copies of your deeds £3.00 (per item) plus VAT of £0.60. Approximately 2 documents are required for a freehold property and 5 documents are required for a leasehold property.

  • Land registry search fees (per title) - £3.00 plus of £0.60.

  • Bankruptcy search fee (per borrower) - £2.00 plus VAT of £0.40.

  • Search fees (if required by your lender/bank) £250.00 inclusive of VAT

  • Indemnity search insurance (if acceptable to new lender) - £14.00 to £150.00 depending on the value of your property.

 

Additional leasehold disbursements 

 

  • Additional disbursements applicable for a leasehold properties - Management Company/Landlord’s Information Packs £100.00 plus VAT of £20.00 to £500.00 plus VAT of £100.00.

  • Landlord’s registration fees - £60.00 to £200.00 per transaction.

 

Land Registration fees 


Land Registry fees are also payable to register details of the new mortgage you may have. These fees are based on the purchase price of the property and the amount of the mortgage if any you are obtaining. These fees can be calculated by visiting the Land Registry website at the following link http://landregistry.data.gov.uk/fees-calculator.html. We have technology to enable us to submit applications to the Land Registry electronically so the lower of the two fees shown on the website is generally payable except where the property is being registered for the first time separately.


*Our estimated fees assume that:-

 

  • The matter proceeds in a straightforward manner and that there are no issues such as defects in title which need to be dealt with. If defects in title are identified then indemnity policies may be required. The costs of these will depend on the nature of the defect and you will be advised of any that may become necessary during the course of the transaction. We do not receive any commission for arranging such policies.

  • All parties to the transaction proceed in a diligent manner without undue delay.

  • No other security such as personal guarantees, share transfer forms,  are required by the lender. 

  • No formal consent to mortgage is required under the terms of any lease.


The estimates are for a mortgage of an individual property.


How long will my re-mortgage take?


How long it will take from the offer being issued until completion will depend on a number of factors. The average process takes between 4-8 weeks.


Stages of the process


The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that apply to the majority of transactions. We will:

 

  • Take your instructions and give you initial advice

  • Obtain and investigate the title to the property and your right to re-mortgage the property

  • Obtain a redemption statement from your existing mortgage lender

  • Obtain replies to enquiries from any management company

  • Consider the conditions of your mortgage offer and attending to any necessary requirements

  • Agree completion date (date on which the transaction completes)

  • Redeem the existing mortgage, if any

  • Account to you.

 

Examples


Estimated example of a freehold sale with a mortgage to redeem at a sale price of £600,000.00 and a freehold purchase with a new mortgage at a purchase price of £800,000.00:-

 

Sale Estimate     
 
Professional Fees in acting in the sale            £1,600.00 
VAT thereon                                                        £320.00
Mortgage redemption                                         £200.00
VAT thereon                                                          £40.00 
ADD   
    
Disbursements     
Bank transfer charges including VAT                    £14.40
Office copy entries plus VAT                                   £6.60
TOTAL to include VAT                                       £2,181.00

 

Purchase Estimate     

Professional Fees in acting in the purchase    £1,600.00 
VAT thereon                                                        £320.00 
Dealing with mortgage requirements                 £200.00
VAT thereon                                                          £40.00
    
ADD     
        
Disbursements     
Local, Environmental, Flood Risk, Water & Drainage Searches & Chancel Liability Insurance     £260.00
Bank transfer (inc. of VAT)                                                                                                                 £14.40
Land Registry Search (per title) (inc. of VAT)                                                                                      £3.60
Bankruptcy searches (per named search) (inc. of VAT)                                                                      £2.40
Land Registration Fee                                                                                                                      £295.00
Stamp Duty Land Tax                                                                                                                £27,500.00
TOTAL to include VAT                                                                                                                £30,235.40

 

Estimate for a residential re-mortgage of a freehold property valued at £500,000.00
                               
Professional fees for acting in the remortgage                     £700.00
VAT                                                                                         £140.00
Redemption of your existing mortgage                                 £200.00
VAT                                                                                           £40.00
ADD DISBURSEMENTS     
Office copy entries including VAT                                               £7.20
Official search including VAT                                                      £3.60
Land Charges search (per name searched) including VAT         £2.40
Bank transfer fees ( per transfer) including VAT                      £14.40
Land Registration fee on registration                                       £45.00
Search Insurance Indemnity Policy (estimated)                       £50.00

Total                                                                                      £1,202.60

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