Residential Conveyancing

Any questions about this service?

Contact us on 01784 432292 or 01932 765741 or directly via our contact form.

GUIDANCE NOTES

Purchase of a freehold residential property

Our fees cover all the work required to complete the purchase of your new home. Please see stages of the process.

Conveyancer’s fees and disbursements
(All fees are in £ (Sterling) +VAT)

Price	Sale		Purchase		Transfer of Equity		Remortgage		Transfer & Remortgage
	Freehold	Leasehold	Freehold	Leasehold	Freehold	Leasehold	Freehold	Leasehold	Freehold	Leasehold
£0 - £250,000	£850	£1000	£900	£1050	£650	£750	£650	£750	£700	£800
£250,001 - £500,000	£950	£1100	£1000	£1150	£1000	£1150	£700	£750	£750	£800
£500,001 - £750,000	£1050	£1200	£1100	£1250	£1100	£1250	£750	£850	£800	£900
£750,001 - £1,000,000	£1150	£1300	£1200	£1350	£1200	£1350	£800	£850	£850	£900
£1,000,001 - £1,500,000	£1200	£1400	£1300	£1450	£1300	£1450	£850	£900	£900	£950
£1,500,001 - £2,000,000	£1500	£1650	£1600	£1750	£1600	£1750	£850	£900	£900	£950
£2,000,000 - above	POA	POA	POA	POA	POA	POA	POA	POA	POA	POA

You will incur search fees on any property purchase which vary depending on the Local Authorities we are applying to. The average would be £400.00

To calculate your Land Registry fees on the registration of your title please click  the below link:

Land Registry Fees

Electronic Bank Transfer fee – each payment £36.00
VAT is payable on some disbursements – we will advise you at the time.
VAT is payable on legal fee at the rate of 20%.

The disbursements mentioned above are cost related to your matter but are payable to third parties such as the Land Registry. We handle the payment of the disbursements on your behalf to ensure a smoother process and to comply with your mortgagee’s requirements.

You will also have to pay stamp duty on the purchase. The amount of this depends on the purchase price of our property. You can calculate the amount you will need to pay by using HMRC’s website. Please see the below link: –

Calculate Stamp Duty Land Tax

How long will be house purchase take?

The time it will take between your offer being accepted and the day you move in depends on numerous factors. The average process for a purchase is between eight and ten weeks. It can be quicker or slower depending on the number of people in the chain. For example, if you are a first-time buyer purchasing an empty property with a mortgage in principal it could take eight weeks.

However, if you are buying a leasehold that requires a lease extension and the management companies consent it could take between three and six months depending on the documentation.

Stages of the Process

The precise stages involved in the purchase of a residential property vary according to your circumstances. We set out below some of the key stages that are included in our fee.

• Take your instructions and give you initial advice.
• Check finances are in place to fund purchase and contact lender’s solicitors.
• Receive and advise on contract documents.
• Obtain further planning documentation if required.
• Make necessary enquiries of the seller’s solicitor.
• Give you advice on all documents and information received.
• Go through Conditions of Mortgage Offer with you if appropriate.
• Send final Contract to you for signature.
• Agree completion date. (This is the day you pay the purchase price and obtain keys to the property).
• Exchange Contracts and notify you that this has happened.
• Arrange all monies needed to be received from lender and you.
• Complete purchase.
• Apply to the Inland Revenue to pay the stamp duty / land tax and receive receipt.
• Apply to the Land Registry for registration of your title.
• Report to you with copies of the new title deeds.

 

Disbursements

We handle the payment of the disbursements on your behalf to ensure a smoother process, the fees of which are set out below.

Mortgages / Remortgages 

Conveyancer’s fees and disbursements

Our fees cover all work required to complete a mortgage of your existing property or a remortgage. This means paying off your existing mortgage and taking out a new one. This work includes: –

• Obtaining a redemption statement of your existing mortgage.
• Receiving new mortgage offer and advising you on its terms.
• Complying with the mortgagee’s requirements to include reporting to you, obtaining all the appropriate signatures and registering the same at the Land Registry and accounting to you and your mortgagees at the end of the transaction.

Our legal fees are set out below, however fees will be at the higher end of the scale if a transfer of equity is involved.

Office Copy Entries £6.00 – £15.00

Search Fees are approximately £30.00 if new lenders accept search indemnity insurance.

Land Registration fee £40.00 – £80.00
Electronic Money Transfer fee £30.00

VAT payable on disbursements are cost related to your matter that are payable to third parties such as the Land Registry. We handle the payment of the disbursements on your behalf to ensure a smoother process and to comply with your mortgagees’ requirements.

If the property is leasehold, there is a Notice of Transfer fee. This fee if chargeable is set out in the lease. These fees vary between £80.00 – £150.00

Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. These fees vary between £80.00 – £150.00.

Deed of Covenant fee – This fee is payable to the management company for the property and can be difficult to estimate. It can vary between £100.00 – £350.00.

Certificate of Compliance – Most new leases require this and the fees can range between £100.00 – £300.00