PURCHASE OF A FREEHOLD RESIDENTIAL PROPERTY
Our fees cover all of the work* required to complete the sale, or purchase of your new home, including (on purchase) 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.
Conveyancer’s fees and disbursements
- Legal fee – based on the pricing bracket
Sale/ Purchase price Fee (plus VAT @ 20%)
Up to £149,999 £745
£150k – £249,999 £845
£250k – £299,999 £945
£300k – £499,999 £995
£500k – £749,999 £1,045
£750 – £999,999 £1,500
£1m plus 1.5% of purchase price
- Search fees £300 (estimated) (purchase)
The number and nature of searches that you will require may vary depending on the property and/or any mortgage lender.
- HM Land Registry fee (purchase) dependant on value of property (see https://landregistry.data.gov.uk/fees-calculator.html for Land Registry fee scale)
- Fee for sending money by Electronic Transfer (as costs) £30 plus VAT
- Land Registry/ Land Charges documents: bankruptcy search £2 per person/ land charges search £2/ pre completion search £3; title documents (sale) £3 each
- Fee for filing SDLT return (purchase) £80 plus VAT
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees and search providers. We handle the payment of the disbursements on your behalf to ensure a smoother process.
STAMP DUTY OR LAND TAX (ON PURCHASE)
This 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.
HOW LONG WILL MY HOUSE SALE/ PURCHASE TAKE?
How long it will take from the offer being accepted until you can sell/ move in to your house will depend on a number of factors. The average process takes between 8-14 weeks.
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 20 weeks or longer. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 6 and 15 months. In such, a situation additional charges would apply.
STAGES OF THE PROCESS (purchase)
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Carry out Anti Money Laundering checks on source of funds
- 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 a completion date (the 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 the purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
- Notify you and your lender (if applicable) of registration once confirmed.
PURCHASE OF A LEASEHOLD RESIDENTIAL PROPERTY
Conveyancer’s fees and disbursements are as above, with an additional cost of £500 if the property is a leasehold purchase.
Anticipated Disbursements* will be as above for freehold purchases, and in addition, the following will be payable
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £200 – £400.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £200 and £400.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £250 and £400.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £250 – £400.
*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 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.
STAMP DUTY LAND TAX
Similar to the purchase of a residential leasehold property, and in addition dealing with freeholder/ management company
STAGES INVOLVED (SALE)
- Take your instructions
- Check the land registry title of the property you are selling.
- Prepare protocol documents (list of fixtures and fitting, sellers information form), the contract of sale and deeds relating to your sale.
- Dealing with questions and enquiries raised by your buyer(s)’ solicitors.
- Reporting and providing information to you relating to the property you are selling.
- Dealing with any mortgage lender relating to redemption of your mortgage
- Exchanging contracts following any necessary negotiations on the terms.
- Approving the transfer deed from the buyer(s)’ solicitors.
- Completing your sale and accounting to you (and any lender) for the proceeds or receiving from you any monies required to complete the sale.
- Dealing with all post-completion matters, particularly repaying any outstanding mortgages or loans.
HOW LONG WILL MY HOUSE SALE/ PURCHASE TAKE?
As for freehold – but usually 3-6 weeks longer
* Our 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
- (if leasehold) 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 (including the lender) 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.
Below is list of matters for which additional fees will be charged, as additional work/ time will be required:
- new build
- first registration of title
- non high street lender mortgage
- in purchase cases, whether primary residence, buy to let or second/holiday home
- shared ownership scheme
- using a help to buy scheme, whether it is an equity loan or ISA
- purchase under right to buy
- purchase at auction
- property has been repossessed
- if completion/ exchange is required within 6 weeks
- purchase in company name
- If your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property, or instructs another conveyancer to act for them
- If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our firm.
- If a trust document is required.
NB: This list is not intended to be exhaustive.
Our service will not include any of the following:
- Advice on the value of the property.
- Advice on the suitability of your mortgage or any other financial arrangements.
- A physical inspection of the property.
- Advice on any planning implications unless instructed to do so which may be subject to additional charges.
- Checks on the property to ensure that it has been built in accordance with any planning permissions granted.
- Advice on any search result findings that identify contaminated land, fracking sites or other environmental issues.
- Advice on tax (other than straight forward SDLT) or other accounting matters.
Details of the person carrying out your work, their supervisors, and qualifications and experience will be provided on retaining the services of this firm. All staff are supervised by a solicitor/ partner and undergo CQS/ regular additional training (see https://www.lawsociety.org.uk/topics/firm-accreditations/conveyancing-quality-scheme)
Maroof Razak – Partner
Maroof Razak is the head of residential property team and has more than 20 years’ experience in residential and commercial property. He qualified as a solicitor in 2003.
M Idris Mir – Partner
Idris is the head of the commercial property team and has more than 25 years’ experience in commercial and residential property. He qualified as a solicitor in 1997.
Foazia Rafiq – Partner
Foazia has more than 20 years’ experience in residential property. She qualified as a solicitor in 2003
Mohammed Khan – Partner
Mohammed has over 5 years’ experience in commercial and residential. He qualified as a solicitor in 2019.
Noshaba qualified as a solicitor in 2011, and has been working in residential property since 2020
Martin has more than 20 years’ experience in residential property.
Mehwish Ahmed LLB
Mehwish graduated in law and has more than 8 years’ experience in residential property.
Shamila Raheem LLB, Post Grad Dip in Law
Shamila graduated in law and has completed the professional exams, and has more than 6 years’ experience in residential property.
Wazhma Mehraban LLB
Wazhma graduated in law and has more than 2 years’ experience in residential property.
Hamza Hassan LLB
Hamza graduated in law and is training in residential property.