Conveyancing Price Promise

CONVEYANCING PRICE PROMISE



Please contact us prior to accepting our conveyancing estimate to ensure we have capacity to handle your transaction at the moment


Purchase of a freehold 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.


Our fees and disbursements based on a purchase of a property valued at £250,000


  • Legal fee £775.00
  • Search fees £300
  • HM Land Registry fee £135
  • Electronic money transfer fee £35
  • VAT payable £162
  • Estimated Total: £1,407.00


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.


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.


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 12-16 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 12 weeks.  However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. 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 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

 

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Purchase of a leasehold residential property


Our fees cover all 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 is in Wales.


Conveyancer's fees and disbursements based on a purchase price of £250,000


  • Legal fee £925.00
  • Search fees £300.00
  • HM Land Registry fee £135.00
  • Electronic money transfer fee £35.00
  • VAT payable £192.00


Estimated total: £1587.00


Anticipated Disbursements*


  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 and £300.
  • 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 and £300.
  • 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 £150 and £350
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £150 and £300


* 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 once we have sight of your specific documents.


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.


* Our fee assumes that:


  1. 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
  2. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.


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