Our fees cover all of the legal work required to complete the purchase of the property, 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 you wish to buy is in Wales.
The information is based on a number of assumptions and particular the fee assumes that:
- 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
- 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.
There may be circumstances when other costs may be incurred due to particular circumstances of your particular transaction but we will advise you if this becomes the case and will tell you about any additional costs when the arise: –
Stamp Duty or Land Tax:
You will also have to pay Stamp Duty or Land Tax. The amount depends on the purchase price of your property and whether you own any other properties. You can calculate the amount you will need to pay by using HMRC’s website.
or if the property is located in Wales by using the Welsh Revenue Authority’s website.
What services does this fee include:
If the matter becomes abortive and does not proceed, we will charge a proportion of our fee based on work undertaken by us to that point together with any disbursements incurred.
Do we pay referral fees to people who introduce conveyancing clients to us?
Some firms of solicitors will pay a sum of money as a reward to an introducer of conveyancing work to them, this is usually known as a referral fee. Such arrangements can exist for example between the solicitors and estate agents or financial advisers. We do make such payments to some referrers. Always insist that any introducer tells you about a referral fee or reward they receive before introducing you to a firm of solicitors, as their recommendation may be motivated by a financial interest and not based solely on whether they think the solicitor can do a good job for you. We will advise you in advance if we are paying a referral fee.
The experience of the people who may carry out the work for you:
Please see links on our website regarding individual team members
The typical timescales and key stages of the purchase transaction:
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. On average the process takes between 2-4 months.
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, timescale will be determined by the construction time of the new build. If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
Stages of the process:
The precise stages involved in the purchase of a residential property vary according to the circumstances but will typically include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact 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 seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- 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