Residential Property

Harper & Odell solicitors is an accredited member of the Law Society’s Conveyancing Quality Scheme (CQS) which provides a recognised quality standard for residential conveyancing work.

Our residential conveyancing lawyers specialise in:

• Buying and selling freehold and leasehold property

• Re-mortgaging

• New Build properties

• Sale and purchase of building plots

• Transfer of equity

• Deeds of Gift

• Problematic Leases, rights of way and boundary issues

Our fees cover the work required to complete the purchase of your new home, including dealing with submission of the Stamp Duty Land Tax return and registration at the Land Registry

Conveyancer’s fees and disbursements

• Fee for acting on behalf of the mortgage lender would generally be included in our fees stated above.

• Search fees range from £400.00 - £800.00

• HM Land Registry fee - £20.00 - £500.00 (varies depending on the value of the property). Please see the HM Land Registry website for more details.

• Electronic money transfer fee £20.00 plus VAT per transfer (international transfer fee £35.00 plus VAT per transfer).

• Notice of Transfer fee – this fee if payable is usually set out in the lease. Generally, the fee is between £50.00 – £300.00 plus VAT per notice, but it is dependent on third parties.

• Notice of Charge fee (if the property is to be mortgaged) – this fee is set out in the lease. Often the fee is between £50.00 and £300.00 plus VAT per notice, but it is also dependent on third parties.

• Deed of Covenant fee – This fee is usually provided by the management company for the property, or solicitors nominated by the relevant party, and can be difficult to estimate. Often it is between £150.00 – £400.00 plus VAT.

These fees vary from property to property and can on occasion be 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 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 we receive this information.

Stamp Duty Land Tax depends on the purchase price of your property. 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 are the steps involved in my purchase?

The precise stages involved in the purchase of a residential leasehold property can vary according to the circumstances. However, the key stages of a transaction are usually as follows: -

• Take your instructions and give initial advice

• Check finances are in place to fund the purchase and contacting the 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 the seller’s solicitor

• Report to you on the documents and information received

• Go through conditions of mortgage offer

• Send out the final contract to you for signature

• Draft the Transfer

• Advise on joint ownership

• Undertake pre-completion searches

• Agree a completion date (date when keys are released)

• Exchange contracts and notify you this has happened

• Arrange for all monies needed to be received from the lender and yourself

• Complete the purchase

• Deal with payment of the Stamp Duty Land Tax

• Deal with application for registration at the Land Registry

How long will my house 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. On average the process takes between 6-12 weeks from the time papers are received to the point of exchange of contracts.

It can be quicker or slower, depending on the parties in the chain.

Our fee assumes that:

1. it 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 further documents

2. it is the transfer of an existing lease and is not the grant of a new lease

3. the transaction is concluded in a timely manner and no unforeseen complications arise

4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing the documentation

5. no indemnity policies are required. Additional costs may apply if indemnity policies are required.