CONVEYANCING
CONVEYANCING
Our boutique law firm partners offer a personal and tailored approach to conveyancing adapting the process around your individual needs and circumstances. They can facilitate meetings face to face or virtually at a time to suit you. They offer a thoroughly professional and efficient service that will look after you from the start to the end of your transactions.
Purchase Costs
Purchase of a freehold or leasehold residential property
Purchase Freehold Fees
Property Value up to £1 Million | Average Fee – £1500.000
Property Value Over £1 Million | 35% of the Purchase Price
Purchase Leasehold Fees
Property Value up to £1 Million | Average Fee – £1750.000
Property Value Over £1 Million | 45% of the Purchase Price
Purchase Disbursements where applicable
Search Fees | £150.00-£800.00 dependant on the location of the property and searches required
HM Land Registry | These are set by the government and can be found here
Electronic money transfer | £30
ID Checks | £12 Per Person
Management Pack Fee | From £250 but is dependant on management company
Acting on behalf of the mortgage lender | £50
Stamp Duty or Land Tax | This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website for England or if the property is located in Wales by using the Welsh Revenue Authority’s website here.
VAT Payable | Currently 20%
Their fees cover all of the work required to complete the purchase of your new home, including 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.
Please note all fees and disbursements are quoted excluding VAT. VAT is currently charged at 20% and is subject to change.
Additional costs may be incurred for the following (this list is not exhaustive):
Bridging Loan
Help to Buy New Build
Help to Buy ISA
Help to Buy Armed Forces
Gifted Deposit
Complex transaction requiring a number of anti-money laundering searches if money is coming from different sources.
Multiple Purchasers
The requirement for a declaration of trust if buying as tenants in common
Indemnity Policy
Unregistered Title
Factors that would typically increase the cost of the service are:
If legal title is defective or part of the property is unregistered
If you discover building regulations or planning permission has not been obtained
If crucial documents you have previously requested from the client have not been provided
Please further note these are estimated costs and individual circumstances and requirements mean these costs can change. During their meetings with you and throughout the transaction they will keep you updated on the costs and whether anything additional needs to be charged over above what they have quoted to you initially.
Purchase Process
The following are the general steps that need to be followed in a “normal” purchase process, however, they can differ depending on your circumstances and that of the Seller. It is also important to note that they endeavour to complete your transaction as quickly as possible however there are various factors outside of their control including how quickly the seller themselves is able to move on the transaction. Due to the above it is generally very hard to estimate the length of time a transaction will take, however, they would not expect a purchase transaction to usually last no more than 16 weeks and generally they are complete within 6-8 weeks.
Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact 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 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
Management packs (leasehold only)
Agree completion date (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 purchase
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry
Sale Costs - Sale of a freehold or leasehold residential property
Sale of Freehold Fees
Property Value up to £1 Million | Fee – £1500.000
Property Value Over £1 Million | 35% of the Purchase Price
Sale of Leasehold Fees
Property Value up to £1 Million | Average Fee – £1750.000
Property Value Over £1 Million | 45% of the Purchase Price
Their fees cover all of the work required to complete the sale of your property.
Please note all fees and disbursements are quoted excluding VAT. VAT is currently charged at 20% and is subject to change.
Please further note these are estimated costs and individual circumstances and requirements mean these costs can change. During their meetings with you, and throughout the transaction, they will keep you updated on the costs and whether anything additional needs to be charged over above what they have quoted to you initially.
Sales Process
The Following are the general steps that need to be followed in a “normal” sales process however they can differ depending on your circumstances and that of the buyer. It is also important to note that we endeavour to complete your transaction as quickly as possible however there are various factors outside of our control including how quickly the buyer themselves is able to move on the transaction. Due to the above it is generally very hard to estimate the length of time a transaction will take however we would not expect a sale transaction to usually last no more than 16 weeks and generally they are complete within 6-8 weeks.
Take your instructions and give you initial advice
Investigating the Registered title to the property, to include:
Carrying out searches with respect to title and obtaining title documents;
Reviewing replies given by you in pre-contract enquiries and adding any further necessary information;
Negotiating a purchase contract;
Negotiating a transfer document;
Advising you in respect of your repayment of the mortgage (if relevant);
Proceeding to exchange of contracts and then completion of the purchase;
Receiving funds by telegraphic transfer from the buyer’s solicitors;
Transmitting funds to repay your mortgage (if relevant).
ABOUT
SC Legal is a boutique law firm that offers a wide range of specialities and services and combines commercial common sense with practical solutions to achieve our client’s requirements within the letter of the law.
SC Legal was established in 2012 to provide its clients with the most efficient legal service that is tailored completely to their needs with an ability to adapt to changing requirements so whether a client requires a lawyer to act as an in-house lawyer seamlessly integrated within their existing systems using their offices and email addresses or whether external counsel or a general practice lawyer is required, SC Legal was established to provide these services to the highest standards and levels of professionalism whilst retaining our core principle of providing excellent customer service and being competitively priced.
Flexibility and adaptability are the key principles with which we approach the delivery of our services to our clients. Our billing is bespoke to fit the needs of the individual whether that be working to billable hours, for a fixed fee or other form of remuneration. Ultimately we at SC Legal adapt our approach to fit your needs and contour our services to your requirements whatever they may be.
Being a boutique law firm, we will ensure that you will interact with the same lawyer throughout the course of your dealings with us to ensure continuity and consistency is always present when we are meeting carrying out your instructions.