Conveyancing Costs

RESIDENTIAL CONVEYANCING

Sam, Ian and Poppy at our Crawley office along with Jonathan, Julie and Sharon at Ewell will be pleased to assist with your conveyancing transaction. They will be assisted by their administrative teams.

Our charges consist of:

a)  Our fees for the legal work;

b) ‘Disbursements’ – disbursements are costs related to your matter that are payable to other people, such as Land Registry fees. We handle the payment of the disbursements on your behalf.

c)   for property purchases, Stamp Duty Land Tax (see below).

Costs

Our fees depend upon the value of the property you are buying or selling and start from £595 + VAT. For a tailored quote please email us for further details.

If you are buying and selling a property then a charge will be made for each property.

If you are buying, selling or re-mortgaging a ‘leasehold’ property (rather than a ‘freehold’) then there is an additional charge of £95 + VAT. Please note that VAT of 20% is also charged on all of our fees or legal work. If money needs to be sent by bank or telegraphic transfer, we charge a fee of £35 + VAT. If you are buying a property we will complete the HMRC Stamp Duty Form on your behalf and submit it on completion of the transaction. For this we charge a fee of £75 + VAT.

Disbursements

The disbursements which you pay will depend upon whether you are buying or selling property whether you are buying a freehold or leasehold property and the location and type of property.

Normally all clients who are buying a freehold property will need to pay the following disbursements:

  • Search packs starting @ £186
  • HMRC Land Registry fee can be calculated using the HMLR Fee Calculator
  • Bankruptcy Search £2 per name
  • Land Registry Search £3 per title number

When selling a property you will ordinarily need to pay the following disbursements:

  • Land Registry Office Copy Entries and Title Plan £6 per title number

If the property is a leasehold property then additional disbursements will be payable and normally consist of:

  • Notice of Transfer and Charge fee – This fee if chargeable is set out in the Lease or management information. Often the fee is between £50 - £300.
  • Deed of Covenant fee – This fee is charged by the management company for the property and is usually between £100 and £200.
  • Certificate of Compliance fee – To be confirmed upon receipt of the management pack and is usually approximately £150.
  • Leasehold Management Pack – This fee is chargeable when selling a leasehold property and is usually approximately £150.
  • If you are purchasing a leasehold property then ground rent and service charges are likely to apply throughout your ownership of the property.

Stamp Duty Land Tax

If you are buying a property you will also need to pay Stamp Duty Land Tax. The amount which you need to pay to the Government depends on the price of the property. You can calculate the amount you will need to pay by using HMRC’s website.

Timescales

We have found that the average transaction takes around 2 months but each case is different and there are many factors outside our control. 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 and the transaction goes smoothly it could take as little as 6 weeks. However, 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.

What We Will Do For You

The stages involved vary according to the individual transaction.

However usually in a property sale, we need to do the following:

  • Take your instructions and give you initial advice
  • Obtain documents in order to prepare the draft contract package
  • Receive and obtain your instructions on enquiries raised by the buyer’s solicitors
  • Send the contact to you for signature
  • Agree completion date (date from which you no longer own the property)
  • Exchange contacts and notify you that this has happened
  • Complete the transaction and redeem any charges secured against the property

In a Property Purchase we will:

  • Take your instructions and give you initial advice
  • Check draft contract papers and raise enquiries
  • Carry out searches on the property you are buying
  • Give you advice on all documents and information received
  • Send the contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contacts and notify you that this has happened
  • Arrange for all monies needed to be received from you and your lender
  • Complete purchase
  • Deal with payment of Stamp Duty Land Tax
  • Deal with registration at the Land Registry

 

LEWIS & DICK LIMITED


 

Contact

Ewell office:

jonathan.owens@lewis-dick.com
ann.chapman@lewis-dick.com

Crawley office:

sam.woods@lewis-dick.com
ian.drewitt@lewis-dick.com

For clients based in Hampshire
call 01428 727586
James.Winfield@lewis-dick.com
hampshire@lewis-dick.com

 

 

We have been awarded the Law Society's Conveyancing Quality accreditation