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Purchase
It is difficult to predict how long a conveyancing transaction will take and each transaction is dependent on various factors. A simple transaction can take some 8-12 weeks to complete whereas others may take as long as 4-6 months to complete. Where we need to liaise with third parties, we are somewhat reliant on their turnaround times in addition to our own work. We will keep you up to date and inform you if we anticipate any delays.
Steps involved
Pre-contract:
- Client-engagement formalities, such as obtaining funds on account, money laundering, and engagement documentation;
- Taking your thorough instructions, including the terms on which you wish to purchase; and details about the property being purchased;
- Carrying out property searches including the Local Authority search, Environmental search, Drainage and Water search, Chancel checks;
- Confirming the Vendor’s legal title, and reviewing the deeds, sale forms, planning permissions and buildings consents etc;
- Reviewing and negotiating the draft Contract for sale;
- Reporting to you and your mortgage company formally, and as necessary throughout;
Exchange and pre-completion:
- Obtaining the deposit from you;
- Dealing with exchange of contracts and paying the deposit to the Vendor;
- Reviewing and negotiating the draft Transfer;
- Requesting release of the mortgage funds;
- Raising requisitions on title in preparation for completion.
Completion and post-completion:
- Completing the purchase, obtaining the balance of funds from the Lender, managing and paying over the balance of funds, and dealing with the transfers;
- Preparing and filing your Stamp Duty Land Tax Return and paying the tax;
- Registering your new purchase and your mortgage at the Land Registry;
- Confirming registration of your purchase and providing the final title deeds to you and your lender.
Our Fees
Conveyancing matters are generally charged on a fixed fee basis and we will always provide an individual cost estimate before you instruct us.
Factors which we consider before quoting on your transaction are:
- freehold or leasehold
- a mortgage
- new build
- a shared ownership scheme
- using a help to buy scheme
- first registration of title (unregistered land)
- purchase under right to buy
- purchase at auction
On a freehold purchase of an existing property for between £300,000 and £350,000, our charges would typically be between £1,350 + VAT (£1,620) and £1,500 + VAT (£1,800).
There are a number of potential additional fees that could be appropriate, some of which frequently occur include:
| Additional Fees | Fee | VAT | Total |
|---|---|---|---|
| Mortgage - Acting for Lender Fee | £250.00 | £50.00 | £300.00 |
| Leasehold Fee | £500.00 | £100.00 | £600.00 |
| New Build Fee | £750.00 | £150.00 | £900.00 |
| Lifetime ISA Supplement Fee | £100.00 | £20.00 | £120.00 |
| Declaration of Trust | £ 250.00 | £50.00 | £300.00 |
Disbursements
Disbursements are costs incurred that are not our fees but are paid to external providers.
- Search fees usually range from £200.00 - £500.00 + VAT and are dependent on what searches are required and where the property is located
- Electronic money transfer fee £30.00 + VAT per transfer
- HM Land Registry registration fees range from £20.00 - £1,105.00 and are dependent on the value of the property and type of registration
Sale
It is difficult to predict how long a conveyancing transaction will take and each transaction is dependent on various factors. A simple transaction can take some 8-12 weeks to complete whereas others may take as long as 4-6 months to complete. Where we need to liaise with third parties, we are somewhat reliant on their turnaround times in addition to our own work. We will keep you up to date and inform you if we anticipate any delays.
Steps involved
Pre-contract:
- Taking instructions from you of the details of the transaction, including completion of the property information and fittings and contents forms
- Obtaining information from your current mortgage lender (if applicable);
- Checking the title to the property;
- Preparing the draft Contract;
- Liaising with the other party’s Solicitor in the transaction;
Exchange and pre-completion:
- Dealing with exchange of contracts;
- Making the pre-completion legal arrangements and checks;
Completion and post-completion:
- Receiving the completion monies and discharging the mortgage;
- Confirming completion to all parties and releasing the keys;
- Paying the sale proceeds to you;
- Sending the title deeds to the buyers solicitors;
Our Fees
Conveyancing matters are generally charged on a fixed fee basis and we will always provide an individual cost estimate before you instruct us.
Factors which we consider before quoting on your transaction are:
- freehold or leasehold
- a mortgage
- new build
- a shared ownership scheme
- using a help to buy scheme
- first registration of title (unregistered land)
- purchase under right to buy
- purchase at auction
On a freehold sale of an existing registered property for between £300,000 and £350,000 our charges would typically be between £1,125 + VAT (£1,350) and £1,350 + VAT (£1,620).
If the property is leasehold this may add additional charge of £500 + VAT (£600).
Disbursements
Disbursements are costs incurred that are not our fees but are paid to external providers.
- Management Pack/Landlord fees can range from £300.00 - £900.00
- HM Land Registry office copies can range from £6.00 - £30.00
- Electronic money transfer fee £30.00 + VAT per transfer
Remortgage
It is difficult to predict how long a conveyancing transaction will take and each transaction is dependent on various factors. A standard transaction can take some 6-8 weeks to complete. Where we need to liaise with third parties, we are somewhat reliant on their turnaround times in addition to our own work. We will keep you up to date and inform you if we anticipate any delays.
Steps involved
Pre-completion:
- Obtaining information from your current mortgage lender;
- Checking the title to the property;
- Dealing with the requirements of your new mortgage lender and ensuring that its interests are property protected;
- Making the pre-completion legal arrangements and checks;
- Obtaining as appropriate the mortgage money from your new mortgage lender and any balance we shall need from you:
On completion:
- Receiving the mortgage money from your lender;
- Paying off your existing mortgage;
- Sending any surplus to you;
Post-completion
- Registering the new mortgage at the Land Registry and sending you a copy of the Land Registry entries; and
- If leasehold, registering the new mortgage with the Landlord.
Our Fees
Conveyancing matters are generally charged on a fixed fee basis and we will always provide an individual cost estimate before you instruct us.
For a remortgage of up to £350,000 our charges would typically be £750 + VAT (£900)
| Additional Fees | Fee | VAT | Total |
|---|---|---|---|
| Leasehold Fee | £500.00 | £100.00 | £600.00 |
| With transfer of Equity | £100.00 | £20.00 | £120.00 |
Disbursements
Disbursements are costs incurred that are not our fees but are paid to external providers.
- Search fees usually range from £200.00 - £500.00 + VAT and are dependent on what searches are required and where the property is located
- HM Land Registry fee can range from £20.00 - £250.00, usually depending on the amount of the new mortgage and the type of title
- Electronic money transfer fee £30.00 + VAT per transfer
- Management Pack/Landlord fees can typically range from £300.00 - £900.00