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Conveyancing (Domestic/Residential)

CONVEYANCING (Domestic/Residential)

We undertake employment work for organisations and our team currently includes

Partner

Solicitor

Legal Assistant

Mark Broughton (Grade A)Sarah Walker (Grade A)Wendy Rintoul (Grade C)
Diane Swaine (Grade C)

Our conveyancing team have in excess of 40 years’ collective experience in the delivery of high quality work relating to domestic/residential conveyancing matters, including sale, purchase, re-mortgage, transfer of equity.

We have four members of the team who may work on your matter. Regardless of who does work on your matter, they will be supervised by Mark Broughton, Partner.

Please click on ‘Our People’ for more information

Our fees cover all work required to complete the purchase/sale of your property. This includes dealing with registration at the Land Registry, payment of Stamp Duty Land Tax or Land Transaction Tax, liaising with Estate Agents/fees and redemption of mortgages.

REFERRAL ARRANGEMENTS

We do have referral arrangements in place with third party Independent Financial Advisers (IFA) and Estate Agents where referral fees are payable.  Referral Fees payable are between £50.00 and £125.00 plus VAT (20%) per matter.

Should a referral arrangement be utilised in your matter, full disclosure including details of the third party and the actual fee payable will be noted in your client care documentation at the outset.

LAND REGISTRY FEES AND STAMP DUTY LAND TAX

Assessment of stamp duty land tax (SDLT) has a basis of the purchase value of land or property which falls above a specific figure. As at 2017, the amount which SDLT becomes applicable is £125,000 for residential properties and £150,000 for non-residential or mixed-use land and properties

Please visit the following link to view the Stamp Duty Land Tax fees:

https://www.gov.uk/stamp-duty-land-tax

PURCHASE TRANSACTION (Freehold)

Legal Fees

(all subject to VAT)(20%)

Property Value – up to £125,000£650.00
Property Value – £125,001 to £250,000£725.00
Property Value – £250,001 to £500,000£800.00
Property Value – £500,001 to £750,000£900.00
Property Value – £750,001 to £1M£995.00
Property Value – £1M to £1.5M£1,500.00
Property Value – £1,500,001 +£2,000.00

Anticipated Disbursements (expenses)

Electronic Money Transfer (per transfer)£30.00 (inclusive of VAT)(20%)
Faster Payment Transfer (per transfer)£8.00
Final search Fee£3.00 (per Title)
Final Bankruptcy Fee£2.00 per name

HMLR (Land Registry) Fee (dependant on purchase price – see link below)

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees

Search Fees£70.00 – £300.00
Lawyer Check£14.40
SDLT Filing Fee£12.00
LMS Panel Fee (if applicable)£30.00 (inclusive of VAT)
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)
Source of Funds Check Fee£18.00 (inclusive of VAT)

Key work we will undertake

  1. Take instructions and give initial advice
  2. Check finances are in place to fund purchase and contact lender’s solicitors if needed
  3. Receive and advise on contract documents
  4. Carry out searches
  5. Obtain further planning documentation if required
  6. Make any necessary enquiries of seller’s solicitor
  7. Give you advice on all documents and information received
  8. Go through mortgage conditions with you
  9. Send final contract to you for signing
  10. Agree completion date
  11. Exchange contracts and confirm once done
  12. Arrange for all money needed to be received from parties
  13. Complete purchase
  14. Deal with payment of Stamp Duty and /or Land Tax
  15. Deal with the application for Land Registry Registration

Key Stages

  1. Preliminary Matters
  2. Initial Paperwork
  3. Investigation of Title
  4. Mortgage Offer
  5. Signing the Contract
  6. Exchange of Contracts
  7. Preparing for Completion
  8. Completion Day
  9. Post Completion

How long will it take

Length of time to complete is dependent on different factors although the average process takes between 6-12 weeks. Factors include how many parties are in the chain, whether you are a first time buyer, have a linked transaction, are purchasing a new build property and whether you will be buying with or without the aid of a mortgage.  The anticipated length of time to complete your matter will be discussed at instruction and during the matter as it progresses.

PURCHASE TRANSACTION (Leasehold)

Legal Fees

(all subject to VAT)(20%)

Property Value – up to £125,000£950.00
Property Value – £125,001 – £250,000£1,025.00
Property Value – £250,001 to £500,000£1,100.00
Property Value – £500,000.01 – £750,000£,1200.00
Property Value – £750,001 – £1M£1,295.00
Property Value – £1M – £1.5M£1,800.00
Property Value – £1,500,001 +£2,300.00

Anticipated Disbursements (expenses)

Electronic Money Transfer£30.00 (inclusive of VAT)(20%)
Faster Payment Bank Fee (per transfer)£8.00
Final search Fee£3.00 (per Title)
Final Bankruptcy Fee£2.00 per name
Search Fees£70.00 – £300.00
Deed of Covenant Fee£100.00 – £400.00
Notice of Charge (if property is to be mortgaged)£50.00 – £200.00
Notice of Transfer Fee£50.00 – £200.00
Lawyer Check£14.40

HMLR (Land Registry) Fee (dependant on purchase price – see link below)

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees

SDLT Filing Fee£12.00
LMS Panel Fee (if applicable)£30.00 (inclusive of VAT)(20%)
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)
Source of Funds Check Fee£18.00 (inclusive of VAT)

Key work we will undertake

  1. Take instructions and give initial advice
  2. Check finances are in place to fund purchase and contact lender’s solicitors if needed
  3. Receive and advise on contract documents
  4. Carry out searches
  5. Obtain further planning documentation if needed
  6. Make any necessary enquiries of seller’s solicitors
  7. Inspect the lease to see if any restrictions require attention
  8. Advise on any Deed of Covenants required with management company
  9. Give you advice on all documents received
  10. Go through mortgage conditions with you
  11. Send final contract to you for signing
  12. Agree completion date
  13. Exchange contracts and notify you once done
  14. Arrange for all money needed to be received from parties
  15. Send relevant notices to relevant management companies to comply with lease
  16. Complete purchase
  17. Deal with payment of Stamp Duty or Land Tax
  18. Deal with the application for Land Registry Registration

Key Stages

  1. Preliminary matters
  2. Initial paperwork
  3. Investigation of Title
  4. Mortgage offer
  5. Signing the contract
  6. Exchange of contracts
  7. Preparing for completion and completion day

How long will it take

Length of time to complete is dependent on different factors although the average process takes between 6-12 weeks. Factors include how many parties are in the chain, whether you are a first time buyer, have a linked transaction, are purchasing a new build property and whether you will be buying with or without the aid of a mortgage.  The anticipated length of time to complete your matter will be discussed at instruction and during the matter as it progresses.

SALE TRANSACTION (Freehold)

Legal Fees (all subject to VAT)(20%)

Property Value – up to £125,000£625.00
Property Value – £125,001 – £250,000£675.00
Property Value – £250,001 to £500,000£725.00
Property Value – £500,000.01 – £750,000£825.00
Property Value – £750,001 – £1M£925.00
Property Value – £1M – £1.5M£1,350.00
Property Value – £1,500,001 +£1,850.00

Anticipated Disbursements (expenses)

HM Land Registry Office Copies£3.00 to £30.00
Electronic Money Transfer (per transfer)£30.00 (inclusive of VAT)
Faster Payment Bank Fee (per transfer)£8.00
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)

Key work we will undertake

  1. Take instructions and give initial advice
  2. Obtain title documents
  3. Prepare contract papers and agree these with the buyer’s solicitors
  4. Reply to any legal enquiries raised by buyer’s solicitors
  5. Approve the Transfer Deed and deal with any pre-completion enquiries
  6. Obtain any redemption statements required with mortgage lender
  7. Exchange contracts and procure the deposit from the buyer’s solicitors
  8. Complete the transaction and obtain funds from buyer’s solicitors
  9. Redeem any existing mortgage and accounting to you with proceeds of sale
  10. Confirm to you once all completed

Key Stages

  1. Preliminary Matters
  2. Before Exchange of Contracts
  3. Exchange of Contracts
  4. Preparing for Completion
  5. Completion Day

How long will it take

Length of time to complete is dependent on different factors although the average process takes between 6-10  weeks. Factors include how many parties are in the chain or elements surrounding the situation of the property e.g. if the sale is by probate then a limited amount of knowledge can be given on the property, which means the buyers have to rely on their own inspection more so than if you were selling your own property

SALE TRANSACTION (Leasehold)

Legal Fees (all subject to VAT)(20%)

Property Value – up to £125,000£950.00
Property Value – £125,001 – £250,000£975.00
Property Value – £250,001 to £500,000£1,225.00
Property Value – £500,000.01 – £750,000£1,325.00
Property Value – £750,001 – £1M£1,425.00
Property Value – £1M – £1.5M£1,850.00
Property Value – £1,500,001 +£2,350.00

Anticipated Disbursements (expenses)

HM Land Registry Office Copies£3.00 to £30.00
Electronic Money Transfer  (per transfer)£30.00 (inclusive of VAT)
Faster Payment Bank Fee (per transfer)£8.00
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)

Key work we will undertake

  1. Take instructions and give initial advice
  2. Obtain title documents
  3. Obtain details and documents about any management companies involved
  4. Prepare contract papers and agree these with the buyer’s solicitors
  5. Reply to any legal enquiries raised by buyer’s solicitors
  6. Inspect and deal with any leasehold restrictions placed upon the property
  7. Supply information to management company for extra documentation to be sent once completed
  8. Approve the Transfer Deed and deal with any pre-completion enquiries
  9. Obtain any redemption statements required with mortgage lender
  10. Agree any apportionment figures for the ground rent/service charge
  11. Exchange contracts and procure the deposit from the buyer’s solicitors
  12. Complete the transaction and obtain funds from buyer’s solicitors
  13. Redeem any existing mortgage and accounting to you with proceeds of sale
  14. Confirm once all completed

Key Stages

  1. Preliminary matters
  2. Before change of contracts
  3. Exchange of contracts
  4. Preparing for completion
  5. Completion day

How long will it take

Length of time to complete is dependent on different factors although the average process takes between 6-10  weeks. Factors include how many parties are in the chain or elements surrounding the situation of the property e.g. you would be required to obtain further documentation for the freehold areas of the property.

Remortgage Transaction

Legal Fees (all subject to VAT)(20%)

Individuals – £500.00
Companies – £750.00

Anticipated Disbursements (expenses)

Electronic Money Transfer  (per transfer) (if mortgage to redeem)£30.00 (inclusive of VAT)
Faster Payment Bank Fee (per transfer)£8.00
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)

Key work we will undertake

  1. Take instructions and give initial advice
  2. Issue client care documentation and obtain Identification documentation required
  3. Check finances are in place to fund purchase and contact lender if needed
  4. Receive and advise on Title
  5. Carry out searches
  6. Obtain further planning documentation if required
  7. Make necessary enquiries of you and/or your mortgage provider
  8. Give you advice on all documents and information received
  9. Go through mortgage conditions with you
  10. Send final mortgage deed to you for signing
  11. Agree completion date
  12. Complete purchase and if applicable redeem existing mortgage
  13. Deal with the application for Land Registry registration

Key Stages

  1. Preliminary matters
  2. Initial paperwork
  3. Investigation of Title
  4. Mortgage offer
  5. Signing the Mortgage Deed
  6. Preparing for completion
  7. Completion day and post completion

How long will it take

Length of time to complete is dependent on different factors although the average process takes between 4-6  weeks. Factors include requirements and conditions of your offer of mortgage.

Lease Extensions

Legal Fees (all subject to VAT)

£500.00  (without a mortgage)

£750.00 (with a mortgage)

You will be advised if there are any other disbursements (expenses) as part of your matter.

Transfers

Legal Fees (all subject to VAT)

£500.00  (without a re-mortgage)

£700.00 (with a re-mortgage)

You will be advised if there are any other disbursements (expenses) as part of your matter.

General Information

Land Registry Fees are dependent upon several factors including property value and method of application e.g. application via post, using the portal or voluntary first registration.

Please visit the following link to view the Land Registry Fees applicable to your matter:

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

You may also contact the HM Land Registry

8.30 a.m. – 5.00 p.m. Monday – Friday (excluding Bank Holidays) – 0300 006 0411

Calls are charged at the national rate by your telephone service provider and are recorded.

Anticipated Dispursements

HM Land Registry Office Copies £3.00 to £30.00

Electronic Money Transfer  (per transfer) (if mortgage to redeem)£30.00 (inclusive of VAT)
Faster Payment Bank Fee (per transfer)£8.00
Final search Fee£3.00 (per Title)
Final Bankruptcy Fee£2.00 per name
Search Fees£70.00 – £300.00
Anti Money Laundering ID Check Fee£12.00 (inclusive of VAT)
Source of Funds Check Fee (if applicable)£18.00 (inclusive of VAT)

Hourly Charging Rates (plus VAT at the prevailing rate)(20%)

Partner/Solicitors & Legal Executives with 8+ years’ experience£275.00   Grade A
Solicitors/Legal Executives with 4+ years’ experience£225.00   Grade B
Other fee earners of equivalent experience£185.00   Grade C
Trainee Solicitors/other fee earners£135.00   Grade D
PA/Secretarial and other non-fee earning/management£100.00    Grade E

Our Costs & Abortive Matters

If the matter becomes protracted and falls outside of the timescale anticipated for this transaction to complete, then I reserve the right to send you interim bills every month for the work done to date.  Please note that this will not exceed the amount quoted, or any revised cost estimate that has been agreed (if applicable).

If, for whatever reason, the transaction does not complete, I will charge for the work done and expenses incurred.  These abortive charges will be calculated on a pro-rata basis according to the amount of work carried out on the matter.  Please note this will not exceed the amount quoted, or any revised cost estimate that has been agreed (if applicable).

Our payment terms of invoices are immediately on presentation. If they remain unpaid we reserve the right to charge £25 plus VAT for each telephone call and letter or email that is needed to chase for payment before any application to Court is made for recovery, after which additional fees will apply.