The specific stages in the sale of a residential property vary according to individual circumstances. However, we have outlined the key stages that are likely to happen:

– You appoint us to act on your behalf and we discuss your transaction and give you initial advice.

– We supply information to you and others involved with the transaction.

– Check the title of the property you are selling to ensure you are the rightful owner.

– Deal with questions and enquiries raised by buyer’s solicitors.

– Approve the transfer deeds to the buyer of your property.

– Report and provide information relating to the property being sold.

– Give advice on all documents and information received relating to the sale.

– Send final contract for your signature.

– Agree a completion date (date in which the property is sold).

– Exchange contracts with the buyer and notify you.

– Complete sale and account for proceeds which are required to complete the sale.

– Deal with all post-completion matters, particularly repaying any outstanding mortgages or loans.

KEY STAGES OF THE RE-MORTGAGE PROCESS –

The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, we have outlined the key stages that are likely to apply:

– You appoint us to act on your behalf and discuss transaction, giving you initial advice.

– Obtain documents from HMLR to check the title of the property.

– Obtain and review your new mortgage offer and send you report.

– Return the signed mortgage deed and building insurance to us.

– Obtain a redemption figure for your current mortgage.

– Draw down the funds from your new mortgage and complete the transaction.

– Deal with the application for registration of the land registry.

TIMESCALES –

We will attempt to complete:

Sale / Purchase within an estimated timescale of 6-20 weeks.

Re-mortgage an estimated timescale of 2-6 weeks of receiving the mortgage offer.

*Please note this is only an estimated timescale and whilst we strive to achieve this, it will not always be possible, and some aspects of the transaction are beyond our control.

If you would like a more accurate estimate of costs involved in your sale/purchase/re-mortgage then please feel free to call us on 01772 494366.

CONVAYNCING/ HOUSE BUYING AND SELLING –

Selling a Property
Professional fees from: £900 plus Vat*

Buying a Property
Professional fees from: £1200 plus Vat*

DISBURSEMENTS / ADDITIONAL COSTS
Property transactions can involve a wide variety of additional matters that need to be considered and can incur extra fees, which can depend upon price and different circumstances. We are happy to provide you with a quote which will contain some further information about these. Just call us on 01772 494366.

We recommend that you work out the stamp duty you are liable for by going on the government’s website and inputting the information they require.

Please note that fees payable to government or other bodies are always your responsibility.

Please ring if you wish to discuss the matter further.

*The fees quoted above are for properties up to £250,000.

RESIDENTIAL CONVAYNCING–

Legal Fees

Our direct fees cover all the work required to complete the Sale / Purchase, including dealing with your lender, and/or registering the ownership of the home.

Our fees for re-mortgaging cover all the work with your existing and new mortgage lender, along with HMLR.

Fixed Fees

Fixed fees are based on a combination of average length of time to complete, location and property price. Prices start at:

– £500.00 + VAT for legal fees for properties under £250,000.

– £1,500.00 + VAT for properties over £1,000,000.00.

– Buying / Selling a Leasehold property, we charge an extra fee of £100.00 + VAT.

– Buying a New Build property, we charge an extra fee of £100.00 + VAT.

– Buying / Selling a Shared Ownership property, we charge an extra fee of £100.00 + VAT.

– Re-mortgaging starts at £400.00 + VAT.

– Disbursements do not exceed £750.00 + VAT.

Disbursements

Disbursements are costs that are payable to third parties, such as search fees. These will vary depending on the location of the property, we handle payment of disbursements on your behalf to ensure an efficient and smooth process. We will update you on the specific fees upon receipt and review the lease from the seller’s solicitors.

Typically, disbursements include:

– £170.00 +VAT for Search Fees (estimate depending on locality).

– £2.00 + VAT / Free for Bankruptcy Search.

– £3.00 + VAT / Free for Final OS1 Search.

HM Land Registry Fee – calculated based on the purchase price of the property. You can work out the amount you will have to pay by using the Land Registry website here:

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Stamp Duty Land Tax – calculated on the purchase price of your property. You can work this out by following the link provided:

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

If your property is in Wales:

https://lttcalculator.wra.gov.wales/ChargeableTransactionType

– £80.00+ VAT fee for completing this document for HMRC, will be included in your formal quote.

Additional Leasehold Fees

If you are selling a Leasehold Property (except for long lease houses), you will need to provide the buyer with a pack of information which we will obtain from either the Landlord/Managing Agent or both.

Fees vary across the country but:

– between £250 – £450 (some third parties may charge VAT).

We may also be required to complete other legal documents for the Landlord/Managing agent or both.

Fees vary across the country but typically are as follows:

– £150.00 for Notice of Transfer.

– £150.00 for Notice of Charge.

– £150.00 for Deed of Covenant Certificate of Compliance.

The above prices may / may not include VAT, this depends on whether the Landlord / Management Agency are VAT registered.

Caveat

Our fee assumes that:

– A standard transaction and that no unforeseen matters arise, for example (but not limited to) a defect in title which requires remedying prior to completion / preparation of additional documents ancillary to the main transaction.

– Assignment of an existing lease and is not the grant of a new lease.

– Transaction is concluded in a timely manner and no unforeseen complication arise.

– All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.

– No indemnity policies are required, additional disbursements may apply if indemnity policies are required.