Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying and selling property.
We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled. Where necessary, we can also recommend other professionals such as Surveyors, IFA’s and property valuers, giving you access to all the expertise you need.
At a time where money really matters, we take care to provide a high quality, value-for-money service you can rely on. We will keep you regularly advised of every detail you need to know so you can make informed decisions and conclude your property transaction promptly and with the minimum possible stress and hassle.
Why Us
We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property. Our approach is simple – we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with all the details of your transaction on your behalf.
We know that communication is key, especially when dealing with the complex issues that can sometimes be involved with leasehold property. Our team is made up of qualified Solicitors, Licensed Conveyancer and Conveyancer who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.
You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have.
We realised that this is potentially the biggest investment of your life and we not only want to provide the first-class service you deserve, but also real value for money with no hidden fees.
We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care. We are also accredited with Cyber Essentials.
Pricing
We know how important cost is when deciding who to use for conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value. We strive to ensure that you have the most likely overall cost from the outset. If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward.
You will have to budget for both our fees and disbursements which are incidental standard costs payable to third parties e.g. Local Authorities, Land Registry and Inland Revenue. As the acting Solicitors in the transaction, we will handle the disbursements on your behalf in order to ensure a smoother process
Our Legal Fees cover all of the work required to complete the purchase of your new home, including dealing with the registration at the Land Registry and 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.
Legal Fees
Legal Fees are the amount you will be required to pay for all of the work performed by us in actioning your instructions, from commencement of your case to conclusion. VAT will be payable on our fees and some disbursements, currently 20% and we will clearly confirm which disbursements carry VAT in our formal quotation or as we advise you to incur them.
- Our average standard legal fee for a residential freehold property sale is £1,200 – £10,000 plus VAT (£1,440.00 – £12,000.00 inc. VAT) for properties up to the value of £1.6million
- Our average standard legal fee for a residential leasehold property sale is £1,200.00 – £10,000.00 plus VAT (£1,440.00 – £12,000.00 inc. VAT) for properties up to the value of £1.6million
- The value of the property and any complexities of the purchase will dictate the final fee charged within this range.
- For properties over £1.6 million, we typically charge on a percentage basis which is 0.25% of the purchase price plus VAT, depending upon the complexity of the transaction. Our fees are dependent on the agreed purchase price of the property, the location and when other complex factors are involved (such as transactions that involve the sale of multiple dwellings or land) to reflect the proportionate risk of carrying out higher-value transactions for our clients and for more complex transactions, the seniority of the legal adviser appointed.
- For purchases using a corporate vehicle there is a supplemental fee of £750 plus VAT due to company’s house registration requirements and additional documents required for lending purposes.
Below we detail what services are covered in our standard fee.
- Our average standard Search fee is £300 plus VAT (£360 inc. VAT). However, Search fees may vary from case to case. We will advise you which searches you need for your transaction and the cost of each search.
- Stamp Duty applies to most property purchase transactions. We will advise you of the stamp duty applicable to your matter and you can visit the HMRC website for more information (see below)
- We will charge the sum of £35 + VAT for Electronic money transfers.
If at any stage our fees change, we will notify you and discuss the reason for any changes. This would typically occur if you change your instructions or your case involves an unforeseen complexity.
Our average fees assume 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.
- For Leasehold matters 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.
Disbursements and Other Costs
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.
You will be provided with a full list of disbursements in our formal quotation. If you need to incur any further disbursements during your case, you will be notified in advance of the reason and the amount.
Typical disbursements will include: –
- Local land charges search;
- Enquiries of the local authority;
- Environment search;
- Planning Search;
- Chancel repair liability indemnity; and
- Water and Drainage search
- HM Land Registry fee. The fees chargeable by the land registry can be found here https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
- Priority Search fees £3.75
- Bankruptcy search fees £2.75 per person
- Electronic money transfer admin fee £35 plus VAT per transfer
- Lawyer checker £18 plus VAT (£21.60)
- Office copies of title deeds £3.75 per deed
- Stamp Duty submission Fee £12
- Land Register Filing fee per registration £5 plus VAT (£6.00)
Search fees will vary from council to council but would approximately cost £300 plus VAT (£360 inc. VAT).
Where the firm is required to undertake an Anti-Money Laundering search as part of our Client Due Diligence Process the firm will charge:
£5.50 + VAT (£6.60 inc. VAT) for an individual based in the UK
£13 + VAT (£15.60 inc. VAT) for an individual based overseas or a Corporate Entity.
Stamp Duty or Land Tax (on purchase)
This amount payable depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website. The following links provide additional information relating to the relevant tax rates for your property:
- HMRC (English Properties): gov.uk/stamp-duty-land-tax/residential-property-rates
- Welsh Revenue Authority (Welsh Properties): lttcalculator.wra.gov.wales
How long will my property purchase take?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors.
- The average process for a residential freehold property purchase is between 4 – 6 weeks.
- The average process for a residential leasehold property purchase is between 4 – 8 weeks.
It can be quicker or slower, depending on a number of factors and we will notify you if we believe your transaction may take longer than average or if something occurs in your case to extend the transaction time we will inform you.
If you are buying a leasehold property that requires an extension of the lease, this can take longer. In such a situation, additional charges would apply and we will notify you of the additional charges and time estimate when we have engaged the landlord to discuss the extension.
Stages of the Process
The precise stages involved in the purchase of a residential property vary according to the circumstances. We have set out the key stages of a standard transaction: –
- Taking your instructions and giving you initial advice.
- Undertaking regulatory checks.
- Checking that finances are in place to fund the purchase and contact lender’s solicitors if needed.
- Receiving and advising on contract documents.
- Carrying out and advising on searches.
- Obtaining of further planning documentation, if required.
- Making any necessary enquiries of seller’s solicitor.
- Giving you advice on all documents and information received.
- For Leasehold properties – obtaining and advising on the Management Pack, the Lease and identifying transfer fees.
- Advising you on joint or shared ownership.
- Going through conditions of any mortgage offer if appropriate.
- Sending final contract to you for signature.
- Agreeing on completion date (date from which you own the property).
- Exchanging contracts and notifying you that this has happened.
- Arranging for all monies needed to be received from your lender (if applicable) and you.
- Completing the purchase and notifying the relevant parties.
- Dealing with payment of Stamp Duty/Land Tax.
- Dealing with the application for registration at Land Registry.
Other Factors
Other Factors to consider which may affect your Legal Fees and disbursements are:
- Notice of Transfer fee – This fee if chargeable is set out in the lease.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is 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 for leasehold matters.
- Value of the property.
- First-time buyer.
- New build.
- First registration of title.
- Islamic mortgage.
- 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 right to buy.
- Purchase at auction.
- Property has been repossessed.
These fees vary from property to property and can on occasion, be significantly more than the ranges given above. 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 charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
Fee Earners
The following fee earners handle Residential Property matters:
- Ricki Bansoodeb is a Partner and Qualified Solicitor. Ricky qualified in 2013 and specialises in all areas of residential and commercial property and has overall supervision of the department.
- Nikhil Amin is a Partner and Qualified Solicitor. Nikhil qualified in 2014 and specialises in all areas of residential property.
- Diana Csok is a Partner and Qualified Solicitor. Diane qualified in 2020 and is experienced in all areas of residential property.
- James Poynor is a Qualified Solicitor. James qualified in 2013 and is experienced in all areas of residential and commercial property. James is supervised by Ricki Bansoodeb, who is a Partner.
- Ashraf Islam is a Qualified Solicitor. Ashraf qualified in 2019 and has experience in all areas of residential property. Ashraf is supervised by Ricki Bansoodeb, who is a Partner.
- Camilla Ireson is a Qualified Solicitor and is supervised by Diana Csok, who is a Partner.
Questions
If you have any questions relating to our services and our fees, please contact us on 02075539000 or email us at info@housingandproperty.co.uk.