Our 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.
Our Fees And Disbursements
Search fees £160.00 (approx.)
HM Land Registry fee £135.00
Electronic money transfer fee £35.00
VAT payable £239.00
Estimated total: £1569.00
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.
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 the HMRC website or if the property is located in Wales by using the Welsh Revenue Authority’s website. If this is your only property, and it is in England, at a purchase price of £200000 the Stamp Duty will be £1500.
How Long Will My House Purchase Take?
How long will my house purchase take? How long it will take for your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 10 – 12 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 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such, a situation additional charges would apply.
Stages Of The Process
Our fees include the following instructions:
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
Agree to 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
Residential Sale Pricing
No property is the same as another, so our fees will reflect the specific requirements of your sale. We are unable to give you an exact estimate of the cost of our fees until we have details of your intended transaction and your property.
Our fees are based on the value, location and complexity of the property being sold, therefore, our fees will vary. For a sale in the range of £250 – £1,000,000, our fees will range from £750 – £5000 plus VAT.
Our fees include the following instructions:
Taking full instructions
Straightforward Money Laundering ID checking
Receiving your title deeds
Seeking confirmation of title from the Land Registry
Preparing the contract for sale
Procuring completion of appropriate protocol documentation namely the Property Information Form, Supplemental Enquiry forms and Fixtures, Fittings and Contents Form
Forwarding the contract to your buyer’s conveyancer
Dealing with reasonable inquiries from your buyer’s conveyancer
Agreeing the transfer documentation
Applying for one redemption figure from a mortgage lender
One attendance on you, or appropriate letter depending on geographic distance, to have documentation signed
Dealing with exchange of contracts and setting a completion date
Dealing with completion formalities and repaying one mortgage
Keeping you and your estate agent reasonably informed of progress
Accounting to you.
Exclusions
Bank transfer costs
Defective title indemnity insurance premiums
Additional Fees
There may be circumstances where the fees may change (the list below is not exhaustive).
Arranging bespoke indemnity insurance
Shared ownership properties
Where the legal title is defective
If are issues with building regulations or planning permission
Stages Of The Process
The stages involved in the purchase of a residential property vary, however we will usually:
Receive and advise on your contract documents
Obtain further planning documentation
Deal with enquiries raised by the buyer’s solicitors
Give you advice on all documents and information
Send the final contract to you for signature
Agree completion date
Exchange contracts
Complete sale
Our Conveyancing/ Property Team/Individual Details Gabriel Enuezie – Managing Partner
Gabriel is the head of the conveyancing/ property team. Gabriel qualified as a Solicitor in 2007 and has gained over 11 years’ experience in dealing with conveyancing/ property cases.
Chancery West Law Solicitors
Colchester Business Centre
1 George Williams Way
Colchester
Essex CO1 2JS