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 a home. We will guide you through each step of the transaction and tailor our service to your personal requirements, so you get exactly the service you need.
When it comes to selling a property, there are important decisions you need to make and we are here to ensure that all your legal obligations are met. There are lots of boxes to tick and we want to assist you in selling your house quickly and efficiently, leaving you free to move on to your next property.
Why choose HPLP for residential conveyancing in London
We have an experienced team who understand the stresses involved in selling property. Our approach is simple – we provide a first-class service from our expert team who make the difference by taking care of all the important legal details and removing any confusion and uncertainty from the process of selling a property.
Whether you are selling your property through an estate agent or privately, we will make everything as clear as possible. 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.
We also recognise that communication is key, especially where there are complex issues to deal with, so will ensure you are always kept up-to-date and get answers to your questions in plain English.
We want you to feel confident that you are a 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 know property is often the biggest investment you have, so we want to offer a reliable, first-class service to protect that investment, while giving you 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 high levels of client care. We are also accredited with Cyber Essentials.
Pricing
The fees involved in any transaction are important and we review our fees on a regular basis, considering client’s feedback to ensure we always offer good value for money. We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction.
If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward.
Our Legal Fees cover all of the work required to complete the sale of your home.
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 £1,200.00 – £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 sale will dictate the final fee charged within this range.
- For properties over £1.6 million, we typically charge on a percentage basis between which is 0.15% of the Sale price plus VAT, depending upon the complexity of the transaction. Our fees increase according to the agreed sale 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.
Below, we detail what services are covered in our standard fee.
We will charge the sum of £35 plus VAT (£42 inc. 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:
- The transaction is concluded in a timely manner and no unforeseen complications arise.
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
- For Leasehold matters this is the assignment of an existing lease and is not the grant of a new lease.
- 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.
The following disbursements and other costs may apply in your matter:
- Office copies of title deeds £3.75 per deed
- Bankruptcy search fees £2.75 per person
- Land Registry fees. The following link provided details of land registry fees payable. https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. We will advise the fees that are relevant to your matter when we have the details of your property.
- If your Property is leasehold, the following additional costs may arise:
o Management pack, these are typically between £100 – £500 plus VAT (£120 to £600 inc. VAT).
These fees will vary from property to property and can on occasions will be significantly more than the ranges given above. We will give you an accurate figure once we have sight of your specific documents.
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
From £13 + VAT (£15.60 inc. VAT) for an individual based overseas or a Corporate Entity.
How long will my property sale take?
How long it will take from your acceptance of an offer to the final sale of your property will depend on a number of factors.
- The average process for a residential freehold property is between 4 – 8 weeks.
- The average process for a residential leasehold property is between 4 – 10 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.
If you are selling 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, or the buyers, solicitors have engaged the landlord to discuss the extension.
Stages of the Process
The precise stages involved in the sale 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.
- Responding to enquiries of purchaser’s solicitor.
- Giving you advice on all documents and information received.
- Advising you on joint or shared ownership.
- Advising on any mortgage redemption, if appropriate.
- Sending final contract to you for signature.
- Agreeing on completion date (date from which you no longer own the property).
- Exchanging contracts and notifying you that this has happened.
- Arranging for all monies needed to be received from your buyer and distributing those monies.
Other Factors
Other Factors to consider which may affect your Legal Fees: –
- Value of the property.
- In Sale 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.
- Sale under right to buy.
- Sale 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.
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 0207 553 9000 or email us at info@housingandproperty.co.uk.