Residential Property

Introduction

Our experienced and knowledgeable team provides an efficient and cost effective service whether buying, selling or remortgaging your home or managing your investment portfolio.
We provide a range of services in relation to residential property to individuals, builders, developers, investors and lenders including:-

  • Freehold and leasehold titles;

  • New build flats and houses;

  • Transfers of equity, sub sales, assignments and auction transactions;

  • Registered and unregistered titles;

  • Acting for your lender (including government affordable home ownership schemes, Help to Buy funding and Islamic finance);

  • Complex transactions and tight timescales.

As an accredited member of The Law Society’s Conveyancing Quality Scheme, we aim to guide you through, what is likely to be, your most important financial transaction, to explain each step of the way in a straightforward manner and to communicate clearly with you throughout with a view to the transaction proceeding as smoothly as possible. We are happy to discuss the process of buying and selling a home with you in more detail if you wish to instruct us and you can also find out more by visiting the following websites:-

​

Basis of our Charges


Our fees, which can be found here, will reflect the particular circumstances of the transaction and will depend upon the nature, value and complexity of your case. We are therefore unable to give you a reliable estimate of the charges until we have full details of the proposed transaction.


Once we have these details, we will then be able to give you an individual cost estimate taking into account the actual circumstances of your transaction.


We typically operate on a fixed fee basis and you will therefore be aware, at the outset, of the fees to be charged for conducting your transaction.


If, however, during the course of your transaction, unexpected complications arise which require us to undertake additional work on your behalf (such as a defect in title or lack of building regulations consent or planning permission which needs to be remedied before completion, or a requirement for additional documents to be prepared, or a delay in receiving key documents from third parties or a failure to co-operate by the parties to the transaction) then we will inform you of these developments and their impact on your transaction as well as any resulting change in our fees and we will agree a way forward with you before any additional fees are incurred.

​

Residential Sale

Services Included in our Fees/Key Stages in the Transaction

  • Dealing with client identification due diligence requirements;

  • Obtaining and verifying details of your title to/ownership of the Property;

  • Providing guidance on preparing the sale protocol property information forms along with replies to the usual legal enquiries from the Purchaser’s solicitors in relation to the Property;

  • Preparing and submitting the draft sale contract to the Purchaser’s solicitors;

  • Advising and representing you in negotiating the sale contract and the transfer deed and reporting to you on their terms;

  • Obtaining your signature to the sale contract and negotiating a completion date;

  • Exchanging contracts with the Purchaser’s solicitors and advising you;

  • Approving the transfer deed and obtaining your signature to this document;

  • Responding to pre-completion title enquiries raised by the Purchaser’s solicitors;

  • Liaising with your Lender (if any) and obtaining a mortgage redemption statement;

  • Preparing a financial completion statement;

  • Completing the sale of the Property and supervising the release of the keys;

  • Sending funds to any Lender, settling any Estate Agent’s account and forwarding to you the net sale proceeds;

  • Keeping you regularly informed throughout of progress in relation to the sale transaction.

​

Services not Included in our Fees

  • Advising on any tax issues;

  • Any matters relating to the valuation of the Property;

  • Dealing with any additional or unregistered titles;

  • Dealing with any additional Lender or any party that has the benefit of any mortgage or charge against the title to the Property;

  • Arranging for any indemnity insurance policies;

  • Dealing with any deeds of covenant, deeds of variation, licences for alterations, assignments and any share transfers;

  • Dealing with corporate clients and/or clients based overseas;

  • Advising on any financial or other planning arrangements (such as wills, trusts and inheritance tax) which may be affected by the sale of the Property.

​

Residential Purchase

Services Included in our Fees/Key Stages in the Transaction

  • Dealing with client identification due diligence requirements;

  • Obtaining from, and verifying with you and any Estate Agent, details of the transaction;

  • Investigating the Seller’s title to the Property;

  • Arranging for property searches to be carried out;

  • Making any necessary enquiries of the Seller’s solicitors;

  • Reviewing standard property information forms supplied by the Seller’s solicitors and any supporting documents regarding the Seller’s title to the Property and any associated liabilities;

  • Checking planning issues and obtaining further planning documentation;

  • Reviewing and reporting on any mortgage offer and raising any necessary issues with the Lender;

  • Advising and representing you in negotiating the sale contract and transfer deed and reporting to you on their terms;

  • Providing a contract report detailing the information disclosed by the title documents, search results and replies to enquiries raised, highlighting relevant issues and advising you accordingly;

  • Liaising with all parties upon exchanging contracts, negotiating the deposit payable and the completion date;

  • Obtaining your signature to the contract and exchanging contracts;

  • Undertaking all necessary pre-completion searches and enquiries and reporting to you;

  • Preparing the Transfer Deed and obtaining your signature to this document;

  • Preparing any Mortgage Deed and obtaining your signature to this document;

  • Preparing a financial completion statement;

  • Liaising with your Lender and arranging for the drawdown of any mortgage loan in readiness for completion;

  • Completing the sale of the Property and supervising the release of keys and the transfer of funds;

  • Preparing and submitting to HMRC any Stamp Duty Land Tax Return and SDLT payment;

  • Dealing with the registration of your ownership of the Property at HM Land Registry;

  • Keeping you regularly informed throughout of progress in relation to the purchase transaction.

 

Services not Included in our Fees

  • Advising on any tax issues;

  • Any matters relating to the physical condition of the Property;

  • Any matters relating to the valuation of the Property;

  • Dealing with any additional or unregistered titles;

  • Dealing with any additional Lender or interested party;

  • Arranging for any indemnity insurance policies;

  • Dealing with any deeds of covenant, deeds of variation, licences for alterations, assignments and any share transfers;

  • Dealing with corporate clients and/or clients based overseas;

  • Dealing with any house in multiple occupation;

  • Dealing with any help to buy mortgage arrangements;

  • Dealing with any registration required at Companies House;

  • Advising on any financial or other planning arrangements (such as wills, trusts and inheritance tax) which may be affected by the purchase of the Property.

​

 Residential Remortgage

Services Included in our Fees/Key Stages in the Transaction

  • Dealing with client identification due diligence requirements;

  • Obtaining details of the transaction;

  • Reviewing the title to the Property including any Lease and undertaking any enquiries required;

  • Arranging for property searches to be carried out as required by the Lender;

  • Reviewing the mortgage offer, dealing with the Lender’s requirements and reporting to you;

  • Obtaining your signature to the Mortgage Deed;

  • Undertaking all relevant pre-completion searches;

  • Preparing a report on title for the Lender and arranging drawdown of funds;

  • Liaising with your current  Lender (if any) and obtaining a mortgage redemption statement;

  • Preparing a financial completion statement;

  • Completing the remortgage and dealing with the discharge of any current mortgage;

  • Registering the new mortgage and dealing with completion matters;

  • Keeping you regularly informed throughout of progress in relation to the remortgage transaction.

​

Services not Included in our Fees

  • Advising on any tax issues;

  • Any matters relating to the physical condition of the Property;

  • Any matters relating to the valuation of the Property;

  • Dealing with any additional or unregistered titles;

  • Dealing with any additional Lender or interested party;

  • Arranging for any indemnity insurance policies;

  • Dealing with any deeds of covenant, deeds of variation, licences for alterations, assignments and any share transfers;

  • Dealing with corporate clients and/or clients based overseas;

  • Dealing with any house in multiple occupation;

  • Dealing with any help to buy mortgage arrangements;

  • Dealing with any registration required at Companies House;

  • Advising on any financial or other planning arrangements (such as wills, trusts and inheritance tax) which may be affected by the remortgage of the Property.

​

Factors Affecting Costs and Expenses

As stated above, we undertake residential conveyancing work on a fixed fee basis and whilst we typically deal with standard residential sales, purchases and remortgages on this basis, factors may apply which would lead to an increase in the costs and expenses payable. Where there is likely to be any additional cost, we will notify you of this as soon as we are able and we will provide you with a clear estimate of the additional costs. These factors include the following:-

​

  • If the legal title is defective requiring rectification or variation or indemnity insurance;

  • If the whole or part of the Property is unregistered title;

  • If building regulations or planning permission have not been obtained for any work undertaken to the Property;

  • Where any Lender involved has unusual requirements or instructs its own solicitors and we are required to deal with additional enquiries raised by that firm;

  • If crucial documents, which we have previously requested from you, have not been provided to us;

  • If the Property is new build;

  • Where we are required to expedite matters to exchange and completion or you require simultaneous exchange and completion;

  • If there is a delay in receiving key information or documents from third parties;

  • If there is a dispute with a neighbour or family friend;

  • If there is to be a gift from a family member or friend;

  • If one of the parties is represented by someone else, for instance, after death or insolvency;

  • If a purchase is made at auction;

  • Dealing with breaches of historic restrictive covenants and/or other restrictions on the title;

  • Dealing with enfranchisement issues such as extending the lease of a flat or purchasing the freehold of a house.

     
Other Fee Arrangements

We do not undertake residential conveyancing work of the nature detailed above under the terms of conditional fee agreements, damages based agreements or any other form of “no win/sale/completion, no fee” agreements.

​

Disbursements – Expenses Payable to Third Parties

These are the costs/expenses which are payable to third parties in the conduct of your residential conveyancing transaction. Generally the amount of these disbursements will be higher on purchases than sales or remortgages and, whilst we are unable to confirm in advance all applicable disbursements and their exact costs as this will depend upon the particular circumstances of your transaction, these will typically include the following:-

​

Residential Sale

  • Fee to Freeholder/Managing Agent for Leasehold Information pack (Sale of Leasehold Properties only – not a standard fee so we will make enquiries and confirm to you the amount of the fee payable – generally of the order of £150.00 to £450.00 plus vat per pack required).

​

Residential Purchase

  • Search fees in relation to the Property including Local Authority, Highways, Drainage, Flood Risk, Environmental and Mining searches (of the order of £300.00 to £550.00 plus vat);

  • Fee to HM Land Registry to register your purchase of the Property, based upon the purchase price - you can calculate this via https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

  • Stamp Duty Land Tax – payable to HMRC based upon the purchase price of the Property – you can calculate this via https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/

  • Fees payable to Freeholders when purchasing a Leasehold Property such as for consent to change the Tenant, for registering the change of Tenant, for service charges and ground rent (to be advised).

 

Residential Remortgage

  • Search fees in relation to the Property including Local Authority, Highways, Drainage, Flood Risk, Environmental and Mining searches (of the order of £300.00 to £550.00 plus vat);

  • Fee to HM Land Registry to register your purchase of the Property, based upon the purchase price - you can calculate this via https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

  • Fees payable to Freeholders when remortgaging a Leasehold Property such as for registering notice of the new mortgage/charge (to be advised).

​

Timescale For Your Transaction


The majority of residential transactions complete within 4 – 12 weeks however we can never guarantee any timescale becasue it is ultimately down to agreement between the seller, buyer and any lenders to all agree a completion date.  Individual transactions (i.e. not in a chain) which do not involve mortgages generally proceed more quickly. Factors which may affect the timescale for your transaction may include the following:-

  • The number of parties/transactions involved in any chain;

  • If you have a mortgage in place;

  • Whether funds are dependent upon the resolution of matrimonial proceedings, equity release or gifted deposits;

  • If you are purchasing a new build property;

  • Whether you need a lease extension in the context of the purchase of a leasehold property.