Residential Purchase Freehold and Leasehold
The Service |
Acting for you in respect of your purchase of a residential property: As part of this service we will:
In relation to leasehold properties we will also:
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Average timescales |
How long it will take from your offer being accepted until you can move in to your new home will depend on a number of factors. The average process takes between 6 to 8 weeks to exchange, and a further 2 weeks before completion, dependent on all parties involved being agreeable to the completion date. 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 5 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply. |
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What is the Estimated Fee |
Where VAT is chargeable on our fees and certain disbursements and/or other expenses it will be charged at the prevailing tax rate, currently 20%. We always provide clients with a fee estimate at the start of each new matter, please call or email us for a bespoke estimate. Our fees for dealing with a standard conveyancing property purchase range between:
For Leasehold properties we charge an additional £250 plus VAT. Additional fees may apply in instances that fall outside of the normal conveyancing transaction. Please see Potential Additional Fee section below. If we are arranging the transfer of funds electronically, we will charge a fee for our time involved in arranging each transfer, for example sending completion money to your seller’s solicitors on completion, the cost of this is £30 plus VAT We charge an anti-money laundering administration fee of £10 plus VAT on all conveyancing transactions. |
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Information on Estimated Fees |
Your fee will reflect work involved in your transaction. Our fee assumes that:
There may be additional documents and, requirements of your specific purchase, based on the documentation required to transfer the title into your name, or to deal with specific parties involved in your transaction. We have set out in the Potential Additional Fees section situations that may arise which would attract additional fees. We will of course notify you of any additional costs and disbursements before they are incurred. |
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Likely disbursements and recharges/ expenses (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process) |
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Potential Additional Disbursements |
Should a lawyer checker search be required on purchase transactions there is an administration fee of £15 plus VAT. You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents for your purchase. Other disbursements may apply depending on the terms of your Lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s solicitors. |
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Potential Additional Fees |
We always provide clients with a fee estimate at the start of each new matter, please call or email us for a bespoke estimate. If your case involves unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. Examples include, (but are not limited to),
This list is not exhaustive, and if there are additional fees that you may incur we will inform you in advance. In addition to our legal fees for some items above you may incur an associated disbursement, such as additional Land Registry Fees, or Landlord Fees (if appropriate). We will inform you accordingly. |
Residential Sale Freehold and Leasehold
The Service |
Acting for you in respect of your sale of a residential property: As part of this service we will:
In relation to leasehold properties we will also:
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Average timescales |
How long it will take from you accepting the buyer(s) offer to completing sale will depend on a number of factors. The average process takes between 6 to 8 weeks to exchange, and a further 2 weeks before completion, dependent on all parties involved being agreeable to the completion date. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a buyer involved in a chain, or a first time buyer it could take 5 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply. Leasehold matters often take longer due to the additional parties involved in the transaction, including landlords/ managing agents/ companies. |
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What is the Estimated Fee |
Where VAT is chargeable on our fees and certain disbursements and/or other expenses it will be charged at the prevailing tax rate, currently 20%. We always provide clients with a fee estimate at the start of each new matter, please call or email us for a bespoke estimate. Our fees for dealing with a standard conveyancing property sale range between:
For Leasehold properties we charge an additional £250 plus VAT. |
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Information on Estimated Fees |
Your fee will reflect work involved in your transaction. There may be additional documents and, requirements of your specific sale, be it based on the documentation required to transfer the title into the buyer’s name, or to deal with specific parties involved in your transaction. We have set out in the Potential Additional Fees section situations that may arise which would require us to charge you additional fees. We will of course notify you of any additional costs and disbursements before they are incurred. Please note that if for any reason we are unable to proceed or you choose to close your matter after you have instructed us, you will still be charged for any work (including additional work) that we have carried out. |
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Likely disbursements and recharges/ expenses (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process) |
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Potential Additional Disbursements |
You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents for your purchase. Other disbursements may apply depending on the terms of your Lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s solicitors. |
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Potential Additional Fees |
We always provide clients with a fee estimate at the start of each new matter, please call or email us for a bespoke estimate. If your case involves unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. You should be aware that additional fees will apply in the following situations:
This list is not exhaustive, and if there are additional fees that you may incur we will inform you in advance. In addition to our legal fees for some items above you may incur an associated disbursement, such as additional Land Registry Fees, or Landlord Fees (if appropriate). We will inform you accordingly. |
Residential Remortgage Freehold and Leasehold
The Service |
Acting for you in respect of your re-mortgage of a residential property with a high street lender: As part of this service we will:
In relation to leasehold properties we will also:
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Average timescales |
How long it will take from you receiving your new mortgage offer to being able to complete on the re-mortgage will depend on a number of factors. The average process takes between 3 to 4 weeks dependent on any conditions attached to your new mortgage offer. It can take longer, if you have specific conditions in your existing mortgage offer, concerning early repayment charges, or where there are specific conditions on your new mortgage offer which we are required to comply with. If you are re-mortgaging a leasehold property that requires an extension of the Lease prior to completion, this can take significantly longer. In such, a situation additional charges would also apply. |
What is the Estimated Fee |
Where VAT is chargeable on our fees and certain disbursements and/or other expenses it will be charged at the prevailing tax rate, currently 20%. We always provide clients with a fee estimate at the start of each new matter, and so please call or email us for a bespoke estimate. Our fee for dealing with a normal residential property re-mortgage is £750.00 plus VAT. For Leasehold properties we charge an additional £250 plus VAT. Additional fees may apply in instances that fall outside of the normal conveyancing transaction. Please see Potential Additional Fee section below. If we are arranging the transfer of funds electronically, we will charge a fee for our time involved in arranging each transfer, for example sending completion money to you and your lender on completion, the cost of this is £30 plus VAT for each transfer. |
Information on Estimated Fees |
Your fee will reflect work involved in your transaction. Our fee assumes that:
There may be additional documents and, requirements of your specific re-mortgage, based on the documentation required to transfer the title into your name, or to deal with specific parties involved in your transaction. We have set out in the Potential Additional Fees section situations that may arise which would attract additional fees. We will of course notify you of any additional costs and disbursements before they are incurred. Please note that if for any reason we are unable to proceed or you choose to close your matter after you have instructed us, you will still be charged for any work (including additional work) that we have carried out. |
Likely disbursements and recharges/ expenses (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process) |
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Potential Additional Disbursements |
You should note that these disbursements can vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate indication of costs once we have had sight of the specific documents for your re-mortgage. Other disbursements may apply depending on the terms of your Lease. We will update you on the specific fees upon receipt and review of the lease from the Seller’s solicitors. |
Potential Additional Fees |
If your re-mortgage involves unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. You should be aware that additional fees will apply in the following situations:
This list is not exhaustive, and if there are additional fees that you may incur we will inform you in advance. In addition to our legal fees for some items above you may incur an associated disbursement, such as additional Land Registry Fees, or Landlord Fees (if appropriate). We will inform you accordingly. |