Our instant online conveyancing quote calculator can provide you with a complete breakdown of costs for your house move (https://owenkenny.com/conveyancing-quotes-online/) or call our conveyancing team on 01243 790532 for a quote over the phone.  Examples of a freehold purchase and leasehold sale are at the bottom of this page, to give you an idea of the breakdown of our costs.  Please note the purchase example is during this current Stamp Duty Holiday period.

 

Buying a House (Freehold)

 

Our fees cover all of the legal 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 you wish to buy is in Wales. Please note our fees do not include advice on SDLT; we recommend clients seek advice from an accountant or lawyer specialising in this area. Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

 

Stages of the Process

 

The precise stages involved in the purchase of a residential property vary according to the circumstances; however, we have suggested some key stages below for your information:

 

Conveyancers will:

 

-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

 

How long will a house purchase take?  

 

The time it takes from an offer being accepted until you can move in to your house will depend on a number of factors, but on average, this process takes at least 3 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, it could take under 12 weeks.

 

Buying a House (Leasehold)

 

As above, our fees cover all 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.

Note: If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, ie between 3 and 4 months. Please note that additional charges would then also apply.

You need to 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 as soon as this we receive this information.

 

Stages of the Process

 

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages for your information.

 

Conveyancers will:

 

-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

-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

 

Our legal 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

-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.

 

Stamp Duty

 

Calculate how much stamp duty (SDLT) you will pay (in England and Northern Ireland) by using this instant stamp duty calculator link:

 

https://www.stampdutycalculator.org.uk/

 

Selling a house

The following information is intended to provide a brief summary of the key steps involved in the conveyancing process, and give guidance on matters which arise in conveyancing transactions.

Questionnaire  forms

A number questionnaire forms must be completed by the seller and are sent to the buyer’s solicitor. The forms give information about boundaries, disputes, notices, guarantees, services, rights and other matters.

Title deeds

In order to prepare paperwork we need to obtain the title deeds.

Contract papers

The seller’s solicitor drafts the contract. The contract sets out the terms of the sale. The contract and related paperwork is sent to the buyer’s solicitor for approval.

Exchange of contracts

A deposit, usually 10% of the purchase price is paid on exchange of contracts. When contracts are exchanged, the date for you to move house is fixed.

Completion

On completion we receive the balance of the sale price, repay any outstanding mortgages direct with the lenders and pay the estate agent’s account.

 

Example: Freehold Purchase, house value £275,000

Legal Fee £ 900.00
Supplements:
Bank Transfer Fee £ 30.00
VAT at 20% £ 186.00
Disbursements:
Chancel Indemnity Policy (up to £1m) £ 6.00
Land Registry Search Fee £ 3.00
Bankruptcy Search Fee £ 2.00
Search Package (approx) £ 400.00
Identification Fee £ 6.00
E-Conveyancing Fee £ 38.40
Land Registry Fees £ 135.00
Stamp Duty (SDLT) £ 0.00
Total Purchase Cost £ 1706.40

Total cost £ 1706.40 INC. VAT
______________________________________________

Example: Leasehold Sale, house value £245,000

Legal Fee £ 800.00
Supplements:
Leasehold Fee £ 200.00
Bank Transfer Fee £ 30.00
VAT at 20% £ 206.00
Disbursements:
Additional Leashold Office copies £ 6.00
ID Fee £ 6.00
Office copy documents £ 3.00
Office copies £ 6.00
E-Conveyancing Fee £ 32.40
Total Sale Cost £ 1289.40

Total cost £ 1289.40 INC. VAT

To see an instant online Conveyancing quote for your house sale / purchase, please click on this link: https://owenkenny.com/conveyancing-quotes-online/