SALE OF A PROPERTY

Conveyancer’s fees:

Sale Fee  Bank Transfer Fee	600.00  35.00
Total Fees:	635.00
Total VAT:	127.00
Total Fee and VAT:	762.00

In addition there will be the following disbursements*:

• Official copy of the register and title plan: £6.00
• If the property is leasehold, we will be required to obtain a copy of the freeholder’s title and title plan £6.00 and a copy of the Lease £3.00.
• If there are any other documents mentioned in the title register, we will be required to obtain these at a cost of £3.00 each.
• If the property is Leasehold, there may be a fee payable to the freeholder/managing agent to provide a sale pack, which will be required by the Buyer’s Solicitor.The average charge is approximately £360.00 including VAT but can vary depending on the Managing Agent or freeholder.

PURCHASE OF A PROPERTY

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration and 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.

Freehold Purchase

Conveyancer’s fees:

Purchase Fee  Bank Transfer Fee SDLT / LTT Form Completion Fee	650.00  35.00 75.00
Total Fees:	760.00
Total VAT:	152.00
Total Fee and VAT:	912.00

 

In addition there will be the following disbursements*:

• Search fees:£00 (for the usual searches) please note this price could increase subject to the location of your property and the volume of searches required
• Land Registry fee: this fee is payable to the Land Registry when we apply to register your ownership of the Property and depends on the price of the property.Please refer to HM Land Registry fee calculator. It also depends on whether the application can be made electronically or not.
• Land Registry searches: £10.00 (bankruptcy and priority search)
• Stamp Duty (this depends on the value of your property). You can calculate the amount you will need to pay by using the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.
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Leasehold Purchase:

Conveyancer’s fee

Purchase Fee  Bank Transfer Fee SDLT / LTT Form Completion Fee	700.00  35.00 75.00
Total Fees:	810.00
Total VAT:	162.00
Total Fee and VAT:	972.00

 

In addition there will be the following disbursements*:

• Search fees: £00 (for the usual searches) please note this price could increase subject to the location of your property and the volume of searches required
• Land Registry fee – this fee is payable to the Land Registry when we apply to register your ownership of the Property and depends on the price of the property.Please refer to HM Land Registry fee calculator. It also depends on whether the application can be made electronically or not.
• Land Registry searches: £10.00 (bankruptcy and priority search)
• Stamp Duty (this depends on the value of your property). You can calculate the amount you will need to pay by using the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website .

Further Anticipated disbursements*:

• Notice of Transfer fee – This fee is chargeable if it is set out in the lease.The fee can vary but typically is between £0 and £250.00 plus VAT.
• Notice of charge fee (if the property is to be mortgaged) – This fee is set out in the lease. He fee can vary but will typically be between £0 and £250.00 plus VAT.
• Deed of Covenant fee – This fee is provided by the management company for the property and can be difficulty to estimate. Often it is between £0 and £250.00 plus VAT.
• Certificate of Compliance fee – to be confirmed upon receipt of the lease as can range between £0 and £250.00 plus VAT.

Please note that these fees can vary from property to property and can, on occasion, be different to the figures given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Please note that our fees quoted above assume that:

(a) this is a standard transaction and that no unforeseen matters arise including (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

(b) the property is registered at the Land Registry. Whilst most properties are registered, some are not. If the property is unregistered additional work is involved which will incur a further charge of £50.00 plus VAT.

(c) this is the assignment of an existing lease and is not the grant of a new lease

(d ) the transaction Is concluded in a timely manner and no unforeseen complication arises

(e) all parties to the transaction are co-operative and there is no unreasonable delay from the third parties providing the documentation.

(f ) no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

*Disbursementsare costs related to your matter that are payable to third parties such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be sent out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

If the matter becomes complex then there may be an additional fee, for example:

• Where your mortgage lender instructs its own solicitor
• If your lease purchase includes the purchase of a share of the freehold
• Where a lease extension is involved
• Shared ownership transactions
• New build instructions
• Missing or absentee landlords
• Where a transaction is required to be expedited
• Contract races

 

How long will my house purchase take?

How long will it take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 8 to 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 x weeks. 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.

 

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 the 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 the seller
• Give you advice on all documents and information received
• Go through conditions of mortgage offer
• 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 the lender and you
• Complete purchase
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry.
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Referral fees

If you are referred to by an introducer we may pay them a referral fee. We will provide you with details of the arrangement and the fee we pay in the client care information that we send you at the start of your transaction. This fee is paid by us so that there is no additional charge for you to pay.

The fee earners with conduct of residential conveyancing cases within the practice are:

Mark Lloyd – Director, Solicitor and Head of the Property Department . Date of Admission as a Solicitor: 02/11/1992

Charles Lawrence – Solicitor. Date of Admission as a Solicitor : 01/06/1998

Andrea Cheesman – Solicitor. Date of Admission as a Solicitor: 01/09/1999

Amanda Johnson – Conveyancing Executive

The fee earner which will deal with your case will be supervised by another of the Solicitors listed above. Details of the person handling your case and their supervisor will be provided to you upon receipt of your instructions.