What work can we do for you?
Our conveyancing team acts on behalf of our deputyship clients on all stages of the process involved in buying or selling freehold or leasehold property. They also carry out residential property transactions in probate matters and for our trust clients.
Please note that we are not able to act on purchases of property where a mortgage is required.
How much do we charge?
- Our charges are based upon the time spent on the matter with a minimum charge of £500 plus VAT, which is charged at 20%.
- The average for a straightforward transaction is in the region of £750 plus VAT at 20%. Please note that this does not include disbursements (please see below for information on what disbursements may be applicable to you). The cost will however vary depending on the complexity and the value of the transaction, and the type of property. The purchase of a new build property or the sale or purchase of a flat involves substantially more work and so more cost.
- We will be able to estimate the costs we expect to charge, once we have taken full details from you and will provide you with further cost updates if, during the course of the transaction, it appears that further costs may need to be incurred. However, we will not incur any further costs without discussing it with you first.
- Disbursements (costs related to your matter that are payable to third parties) will be payable in addition and are charged at the same cost to you as their are to us. Examples of these disbursements are listed below.
- Please note, when acting for a deputyship client our costs are assessed by the Senior Courts Costs Office (SCCO) who ensure that all charges are reasonable.
Stages of the process:
The precise stages in the conveyancing process vary depending on the circumstances of your matter. However, key stages in a transaction are set out below and our costs include the following:
- Obtaining the deeds/copies of the registered title for the property
- Drafting a contract and sending to the buyer’s solicitor with all supporting documents for example copies of the legal title, the property information forms and on a leasehold property the management pack
- Dealing with the pre contract enquiries raised by the Buyer’s solicitors
- Liaising with the estate agent and the buyer’s solicitors
- Exchanging contracts
- Arranging for the signing of the transfer document
- Preparation of a completion statement showing the funds due to the seller on completion following discharge of any mortgages and payment of the estate agents and legal fees and disbursements.
- Completion of the sale, release of the keys via the estate agent to the buyer and sending the completion documents to the buyer’s solicitors
- Discharging any mortgages registered against the property and payment of the estate agents fees
- Remitting to the seller the net proceeds of sale
- Going through the contract pack provided by the Seller’s solicitors raising pre contract enquiries with them and submitting searches to the local and drainage authorities and other search providers, for example (but not exclusively) environmental, chancel, and coal searches dependent upon the location of the property
- Considering the replies to enquiries (including for a leasehold property considering the accounts and other management information relating to the flats) and search results
- Reporting to the client on the purchase and the terms of the contract
- Liaising with the estate agent and the seller’s solicitor
- Exchanging contracts
- Drafting the transfer document and requisitions on title for sending to the Seller’s solicitors
- Preparing a completion statement for the buyer setting out the funds required for the purchase to include land registry and solicitors fees, stamp duty land tax and any notice fees (for service on the Landlord of a leasehold property) and disbursements.
- Remitting the purchase monies to the Seller’s solicitors on the completion date.
- Preparation of stamp duty land tax return and submission to HMRC.
- Service of any notice of transfer on the Landlord for a leasehold property.
- Registration of title at Land Registry
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. Potential disbursements can be, but are not limited to, the following:
- Obtaining copies of the registered title from the Land Registry (£3 per document)
- Obtaining copies of any planning permissions/building regulations approvals from Local Authority (approximately £10 - £20 per document depending on the local authority)
- Bank transfer fees - when discharging a mortgage, funds are transferred by CHAPS payment to ensure same day payment, which has an administration charge of £25 plus VAT (at 20%)
- Search fees - these are dependent on searches commissioned and location of the property but can range from, approximately £250 - £450 inc. VAT
- Stamp duty land Tax – this depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website here, or, if the property is located in Wales, by using the Welsh Revenue Authority’s website here.
- Land registry fees – these are dependent on purchase price but range from £40 for properties under £80,000 to £910 for properties over £1,000,000.
- Bank transfer fees - purchase monies are transferred by CHAPS payment to ensure same day payment and there will be an administration fee of £25 plus VAT (at 20%)
How long will it take?:
Typical timescales for a typical conveyancing transaction may be 6-8 weeks from the date that you instruct us to completion of the transaction but this depends upon many factors, such as:
- the length of the chain
- whether mortgage finance is needed by one of the other parties (Please note we do not act on purchases where a mortgage is required),
- whether there are tenants in a property who need to vacate prior to exchange of contracts and completion,
- whether there is a price renegotiation,
and many other factors.
We will keep you fully informed throughout the process of any factors that arise that may affect the timescale of the matter.