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Probate  Conveyancing

CONVEYANCING INFORMATION AND COSTS Conveyancing Team Our team has over 75 years of collective experience in delivering high quality work in all property and conveyancing matters. We have three very experienced solicitors Martin Cox and Paula Bladon and Jennifer Cunningham who can assist you with your matter. They are all supervised by Martin Cox, who is our Senior Partner and Head of our Conveyancing Department. Sale or purchase Please contact any of our team for a no obligation quote for dealing with your sale or purchase. Our fees cover all of the work required to complete the purchase or sale of your property, including dealing with registration at the Land Registry once the transaction has been completed 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. Our fees and disbursements Our fees and the disbursements (costs related to your matter that are payable to third parties) will depend upon the value of the property you are selling or buying. Selling a Freehold Residential Property Value of property £125,000 - £3,000,000 Our fee £1,200 - £6,000 plus VAT HM Land Registry fee £9 plus VAT Electronic money transfer fee £30 plus VAT (£6) VAT payable £240 - £1,200 Buying a Freehold Residential Property Value of property £125,000 - £3,000,000 Our fee £1,200 - £7,000 plus VAT Search fees £350 plus VAT HM Land Registry fee - depends on purchase price Electronic money transfer fee £30 plus VAT (£6) VAT payable £240 - £1,400 Stamp Duty or Land Tax (on the purchase of a property) The amount of stamp duty or land tax payable depends on the purchase price of your property. You can calculate the amount that you will have to pay by using HMRC's website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is in Wales by using the Welsh Revenue Authority's website https://beta.gov.wales/land-transaction-tax-calculator How long will my house purchase take? The amount of time it will take from your offer being accepted until you can move in to your new property will depend on a number of factors some of which are out of our control. The average process takes between 19-22 weeks. The process can be quicker or slower depending on the other 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 12-16 weeks. However, if you are buying a leasehold property that requires an extension of the lease this can take significantly longer - easily 6 months or 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, listed below are some key stages that may be necessary in your transaction:- Taking your instructions and giving you initial advice. Sending you our client care paperwork and satisfying our AML requirements including obtaining evidence of your identity from you and verifying the same. Checking that finances are in place to fund the purchase and contact lender's solicitors if necessary. Receive and advise on contract documents. Carry out searches. Obtain further planning documents if required. Make any necessary enquiries of the seller's solicitor. Give you advice on all documents and information received. Go through conditions of mortgage offer with you and agreeing to act for your lender. Send final contract to you for signature. Help you to agree a completion date (the date from which you will own the property). Exchange contracts and let you know when this has happened. Arrange for all monies needed to be received from your lender and you. Draft transfer documents and complete purchase. Deal with payment of Stamp Duty/Land Tax. Deal with application for registration at Land Registry. Purchase of a Leasehold 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 is in Wales. Fees and Disbursements Value of property £125,000 - £2,000,000 Our fee £1,200 - £3,500 plus VAT Fee for acting for mortgage lender - included in above price Search fees £350 plus VAT HM Land Registry fee - depends on purchase price Electronic money transfer fee £30 plus VAT (£6) VAT payable £240 - £700 Disbursements Disbursements are 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. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out below. The list is not exhaustive and other disbursements may apply depending upon the terms of the lease. We will let you know of any additional disbursements upon receipt and review of the lease from the seller's solicitors. HM Land Registry fee - depends on value of property Search fees £350 plus VAT Electronic money transfer £30 plus VAT (£6) Anticipated Disbursements * Notice of transfer fee - this fee if chargeable is set out in the lease. Often the fee is between £50 and £100 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 £100 Deed of covenant fee - this fee is required by the management company for the property and can be difficult to estimate. Often it is between £200 and £400 Certificate of Compliance fee - to be confirmed upon receipt of lease, as can range between £200 and £400 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 we receive this information. Selling a leasehold property Value of property £125,000 - £3,000,000 Our fee £1,200 - £5,000 plus VAT And disbursements - £9 plus VAT VAT payable £240 - £1,000 Stamp Duty Land Tax The amount of stamp duty payable depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority's website https://lttcalculator.wra.gov.wales/ The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some of the key stages:- We will take your instructions and give you initial advice Sending you our client care paperwork and satisfying our AML requirements including obtaining evidence of your identity from you and verifying the same. Check finances are in place to fund purchase and contact lender's solicitors if necessary 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 the conditions of your mortgage offer and agree to act for your lender Send the final contract to you for signature Draft transfer deed Advise you on joint ownership Obtain pre-completion searches Agree completion date Exchange contracts and let you know this has happened Arrange for all monies needed to be received from your lender and you Complete purchase Deal with payment of Stamp Duty/Land Tax Deal with registration at land Registry How long will my house purchase take? This will depend on a number of factors. The average process takes between 19 and 22 weeks. It can be quicker or slower depending on the parties in the chain. If you are buying a leasehold property that requires an extension of the lease this can take significantly longer, between 6-7 months. In such a situation additional charges may apply. Our fee assumes that: a. 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. b. This is the assignment of an existing lease and is not a grant of a new lease c. The transaction is concluded in a timely manner and no unforeseen complications arise d. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation e. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required Mortgages or re-mortgages We can also help you with re-mortgages and mortgages. Our fee £950 plus VAT Searches £350 plus VAT Land Registry fee - depends on value of property. VAT payable £190