Residential Conveyancing

If you’re considering purchasing a Freehold Property (both the building and the land) or Leasehold Property (purchasing a lease in the property for a fixed number of years) we can generate a quote for any of the following:

• Value of the property
• First-time buyers
• Re-mortgaging
• New builds
• Whether it is a mortgage or not
• In purchase cases, whether primary residence, buy to let or second/holiday home
• Multiple owners/Shared ownership scheme
• Using a help-to-buy scheme, and whether it is an equity loan or ISA
• Purchase under a right to buy
• Purchase at auction
• Property has been repossessed

Our quotation covers 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.

If you purchase a property or piece of land in the UK, you may have to pay tax depending on the price. In England this is Stamp Duty, in Wales it’s known as Land Tax, both are more commonly known as SDLT (Stamp Duty Land Tax).

In general, if the overall value of a residential property is more than £250,000, you’ll have to pay land tax. You can calculate the amount you will need to pay by using HMRC's website.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages:

• Taking of instructions and giving initial advice
• Checking finances are in place to fund purchase and contacting the 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 the seller's solicitor
• Give you advice on all documents and information received
• Go through conditions of the mortgage offer
• Send final contract to you for signature
• Draft Transfer
• Advise you on joint ownership
• Obtain pre-completion searches
• 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
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

The average process of buying a house takes between 6-12 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 take longer. If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation, additional charges would apply.

Our fees are fixed for residential conveyancing, but some factors can increase the cost. These include:

• If the legal title is defective or part of the property is unregistered
• If you discover building regulations or planning permission has not been obtained
• If any crucial documents, we have previously requested from you, have not been provided

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.

Here are some disbursements that may be involved with residential conveyancing:

Notice of Transfer fee – This fee if chargeable is usually set out in the lease.

Notice of Charge fee (if the property is to be mortgaged) – This fee is usually set out in the lease.

Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.

Certificate of Compliance fee This fee is provided by the management company for the property and can be difficult to estimate.

These fees vary from property to property, 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 once we receive this information.

• 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.
• This is the assignment of an existing lease and is not the grant of a new lease.
• The 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.