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Category Archives: Residential property

HCL

Posted by Hindle Campbell

Purchase of a freehold residential property

What’s Included
Our fees cover all the legal administration* required to complete the purchase of a property, including dealing with registration at the Land Registry and administering the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

The process involved in the purchase of a residential freehold property can vary according to individual circumstances. However, the key stages include:

  • Following your directions and providing advice.
  • Verify that funds are available to fund the transaction and, if necessary, contact the lender’s solicitors.
  • Contract documents are received and reviewed.
  • Conduct searches.
  • Get additional planning paperwork as needed.
  • Make any required inquiries with the seller’s solicitor.
  • Provide you with guidance on all documents and information received.
  • Examine the terms of the mortgage offer.
  • Give you the final contract for signature.
  • Draft Transfer.
  • Give you advice on joint ownership.
  • Request pre-completion searches.
  • Set a completion date (date from which you own the property).
  • Contracts will be exchanged, and you will be notified.
  • Arrange for all necessary funds to be received from the lender and you.
  • Complete purchase.
  • Manage the payment of Stamp Duty/Land Tax.
  • Administer the Land Registry registration.

How long will it take for me to buy a house?
A lot of factors will influence how long it takes from the time your offer is accepted until you can move into your new home. The typical process takes 6-8 weeks. Depending on the partners in the chain, it can be faster or slower. For example, if you are a first-time buyer looking to purchase a new build property with a mortgage in principle, can take up to four weeks. I if you are purchasing a leasehold property that requires a lease extension, this can take between 2 and 3 months and in such a case, additional fees would apply.

Our Charges
Residential conveyancing work is typically done on a fixed fee basis. The following information is offered to help you understand how we determine our fees. Prices are offered as an indication of the anticipated cost of a transaction or case and should not be interpreted as an absolute quote. Use our conveyancing calculator  for a detailed quote that takes into account the circumstances of your transaction or situation.

Fees

  • Legal fees: £000.00
  • Electronic money transfer fee: £00.00*
  • VAT payable: £00.60
  • AML check admin fee: £00.00 (per person)**
  • VAT payable: £0.00 (per person)
  • Subtotal: £000.00

Our charge is based on the following assumptions:

  1. This is a conventional transaction, and there are no unforeseen issues, such as (but not limited to) a title defect that needs to be resolved before completion or the creation of extra documents related to the primary transaction.
  2. The transaction is completed promptly and there are no unanticipated complications
  3. All of the transaction’s participants are cooperative, and third parties’ delays in supplying documents are not excessive.
  4. There is no need for indemnity policies. If indemnity plans are needed, further costs may be incurred.

Disbursements
Disbursements are charges associated with your case that must be paid to third parties, such as search fees. To guarantee a quicker transaction, we manage the payment of disbursements on your behalf. Certain expenditures will be specified in the individual lease relating to the Property. The disbursements that we estimate to be made are listed below. This list is not exhaustive, and other expenditures may apply depending on the lease duration. We will keep you updated on the specific expenses after we receive and evaluate the lease from the seller’s solicitors.

  • HM Land Registry fee: £0.00
  • Search fees: £000.00***
  • VAT on search fees: 00.00***
  • Land Registry fee: £00.00
  • Subtotal: £000.00

Grand Total £0,000.00

* These costs vary with every property and can often be much more than the amounts indicated above.  We can give you an exact figure after we see your specific documents.

** We charge £00.00 plus VAT for each telegraphic (electronic) transfer we do. On a purchase, one transfer will be made to pay the purchase payments to the seller’s solicitor.

*** This is the price of a normal search package, a required in all cases. There are further searches that you may choose to conduct, such as a flood risk search, for which there will be a fee. You have the option of receiving any payments owed to you through check or telegraphic transfer. Receiving revenues or other payments by cheque is free of charge. We will charge an extra cost of £30.00 plus VAT if you want to receive funds via telegraphic transfer.

**** We contract with a third-party business to carry out AML (anti-money laundering) checks on our behalf. We are required by law to do AML checks on each person involved in a transaction, and we will charge a fee for each check performed.

Land Tax Stamp Duty
Stamp Duty may also be applicable. This is determined by the purchase price of your property and whether you own other properties. You can calculate the amount you must pay by visiting HMRC’s website or, if the property is in Wales, the Welsh Tax Authority’s website.

In all circumstances, a Stamp Duty Land Tax (SDLT) form is necessary. You may be able to In all circumstances, a stamp duty land tax (SDLT) form is necessary. You may be able to choose to complete this yourself. If there is a lender then we will have to complete it for you. If you request or we are required to complete the form, we will charge an additional price of £75.00 plus VAT.

HCL

Posted by Hindle Campbell

Residential mortgage or remortgage

What’s included:
Our fees* cover all of the work required to complete your property’s refinancing.

The specific stages involved in the acquisition of a home remortgage differ depending on the circumstances. Nonetheless, some critical stages are as follows:

  • Accepting your directions and providing initial advice
  • Receiving and advising on contract agreements
  • Conducting searches
  • Providing advice on all documents and information received
  • Examine the terms of the mortgage offer
  • Deliver final contract to you for signature
  • Draft Transfer
  • Get pre-completion searches
  • Arrange for all necessary funds to be collected from lender and you
  • Complete remortage
  • Handle with Land Registry application

How long will it take to remortgage?
The length of time will be determined by a number of things. The average process takes approximately 4 weeks. Depending on the parties and lender involved, it can be faster or slower. If the home being remortgaged is leasehold, for example, the process may take longer.

Our Fees
Home conveyancing work, including remortgages, is typically done on a fixed fee basis. The following information is offered to help you understand how we determine our fees. Prices are offered as an indication of the anticipated cost of a transaction or case and should not be interpreted as an absolute quote. You must still contact us for a precise price that takes into consideration the specifics of your transaction or situation.

Fees

Legal fees: £000.00
VAT: £00.00
Electronic money transfer fee: £00.00**
VAT payable: £0.00
AML check admin fee: £00.00 (per person)***
VAT payable £0.00: (per person)

Sub-total: £000.00

Our fee assumes that:

  1. 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
  2. this is the assignment 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 complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Disbursements
Disbursements are charges associated with your case that must be paid to third parties, such as search fees. To guarantee a simpler transaction, we manage the payment of disbursements on your behalf. Certain expenditures will be specified in the individual lease relating to the Property. The disbursements that we estimate to be made are listed individually below. This list is not exhaustive, and other expenditures may apply depending on the lease duration. We will keep you updated on the particular expenses after we receive and examine the lease from the seller’s solicitors.

Land Registry search fee: £0.00
Office Copies: £0.00
Bankruptcy Search: £0.00
Land Registry fee: £00.00
Subtotal: £00.00

Grand total £454.00

* These costs vary with every property and can often be much more than the amounts indicated above.  We can give you an exact figure after we see your specific documents.

** We charge £00.00 plus VAT for each telegraphic (electronic) transfer we do. On a purchase, one transfer will be made to pay the purchase payments to the seller’s solicitor.

*** This is the price of a normal search package, a required in all cases. There are further searches that you may choose to conduct, such as a flood risk search, for which there will be a fee. You have the option of receiving any payments owed to you through check or telegraphic transfer. Receiving revenues or other payments by cheque is free of charge. We will charge an extra cost of £30.00 plus VAT if you want to receive funds via telegraphic transfer.

**** We contract with a third-party business to carry out AML (anti-money laundering) checks on our behalf. We are required by law to do AML checks on each person involved in a transaction, and we will charge a fee for each check performed.

Possible Additional Disbursements in respect of Leasehold Properties

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100.00 and £200.00.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100.00 and £200.00.
  • 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 £100.00 and £200.00.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100.00 and £200.00.

These costs can vary by property and can sometimes be much more than the ranges listed above. We can give you an exact figure after we see your relevant documents.

HCL

Posted by Hindle Campbell

Residential property sale

What’s included

Our fees* include all of the activity involved in selling your home.
The particular processes required in the acquisition of a home vary depending on the circumstances. Nonetheless, some critical stages are as follows:

  • Taking your instructions and providing initial advice
  • Receiving and advising on contract documents
  • Conducting searches
  • Providing advice on all documents and information received
  • Sending final contract to you for signature
  • Draft Transfer
  • Obtaining pre-completion searches
  • Arranging for all monies required to be received from the purchaser

How long will it take to sell my house?
The length of time will be determined by a number of things. The typical process takes 4 to 8 weeks. Depending on the parties and lenders involved, it can be faster or slower. If you are purchasing another property at the same time, this will also affect the speed with which the sale can proceed.

Our Fees
Home conveyancing work, including sales, is typically done on a flat fee basis. The following information is offered to help you understand how we determine our fees. Prices are offered as an indication of the anticipated cost of a transaction or case and should not be interpreted as an absolute quote. You must still contact us for a detailed price that takes into consideration the specifics of your transaction or situation.

Fees

Legal fees: £000.00
VAT: £000.00
Electronic money transfer fee: £00.00**
VAT payable: £0.00
AML check admin fee: £00.00 (per person)***
VAT payable: £0.00 (per person)

Subtotal £000.00

Our fee assumes that:

  1. 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
  2. The transaction is concluded in a timely manner and no unforeseen complication arise
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  4. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

Office Copies: £00.00
Subtotal: £00.00

Grand total £000.00

*These costs vary by property and can sometimes be much more than the sum mentioned above. This is our average charge for the three months ending September 30, 2022. We can give you an exact amount after we see your individual paperwork.

**We charge £30.00 with VAT for each telegraphic (electronic) transfer we do. On a sale, there will almost certainly be one such transfer to redeem your existing mortgage.

You have the option of receiving any payments owed to you through check or telegraphic transfer. Receiving revenues or other payments by cheque is free of charge. We will charge an extra cost of £30.00 plus VAT if you want to receive funds via telegraphic transfer.

***We contract with an outside company to conduct AML (anti-money laundering) checks on our behalf. We are required by law to do AML checks on each person engaged in a transaction, and we will charge a fee for each check performed.

HCL

Posted by Hindle Campbell

Residential leasehold purchase

What’s Included
Our fees cover all the legal administration* required to complete the purchase of a property, including dealing with registration at the Land Registry and administering the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

The process involved in the purchase of a residential freehold property can vary according to individual circumstances. However, the key stages include:

  • Following your directions and providing advice
  • Verify that funds are available to fund the transaction and, if necessary, contact the lender’s solicitors
  • Contract documents are received and reviewed
  • Conduct searches
  • Get additional planning paperwork as needed
  • Make any required inquiries with the seller’s solicitor
  • Provide you with guidance on all documents and information received
  • Examine the terms of the mortgage offer
  • Give you the final contract for signature
  • Draft Transfer
  • Give you advice on joint ownership
  • Request pre-completion searches
  • Set a completion date (date from which you own the property)
  • Contracts will be exchanged, and you will be notified
  • Arrange for all necessary funds to be received from the lender and you
  • Complete purchase
  • Manage the payment of Stamp Duty/Land Tax
  • Administer the Land Registry registration

How long will it take for me to buy a house?
A lot of factors will influence how long it takes from the time your offer is accepted until you can move into your new home. The typical process takes 6-8 weeks. Depending on the partners in the chain, it can be faster or slower. For example, if you are a first-time buyer looking to purchase a new build property with a mortgage in principle, can take up to four weeks. I if you are purchasing a leasehold property that requires a lease extension, this can take between 2 and 3 months and in such a case, additional fees would apply.

Our Charges
Residential conveyancing work is typically done on a fixed fee basis. The following information is offered to help you understand how we determine our fees. Prices are offered as an indication of the anticipated cost of a transaction or case and should not be interpreted as an absolute quote. Use our conveyancing calculator  for a detailed quote that takes into account the circumstances of your transaction or situation.

Fees:

Legal fees: £000.00
Electronic money transfer fee: £00.00*
VAT payable: £00.00
AML check admin fee: £00.00 (per person)**
VAT payable: £0.00 (per person)

Subtotal: £000.00

Our charge is based on the following assumptions:

  1. This is a conventional transaction, and there are no unforeseen issues, such as (but not limited to) a title defect that needs to be resolved before completion or the creation of extra documents related to the primary transaction.
  2. The transaction is completed promptly and there are no unanticipated complications
  3. All of the transaction’s participants are cooperative, and third parties’ delays in supplying documents are not excessive.
  4. There is no need for indemnity policies. If indemnity plans are needed, further costs may be incurred.

Disbursements
Disbursements are charges associated with your case that must be paid to third parties, such as search fees. To guarantee a quicker transaction, we manage the payment of disbursements on your behalf. Certain expenditures will be specified in the individual lease relating to the Property. The disbursements that we estimate to be made are listed below. This list is not exhaustive, and other expenditures may apply depending on the lease duration. We will keep you updated on the specific expenses after we receive and evaluate the lease from the seller’s solicitors.

HM Land Registry fee: £0.00
Search fees: £000.00***
VAT on search fees: 00.00***
Land Registry fee: £00.00
Subtotal: £000.00

Grand Total £0,000.00

* These costs vary with every property and can often be much more than the amounts indicated above.  We can give you an exact figure after we see your specific documents.

** We charge £00.00 plus VAT for each telegraphic (electronic) transfer we do. On a purchase, one transfer will be made to pay the purchase payments to the seller’s solicitor.

*** This is the price of a normal search package, a required in all cases. There are further searches that you may choose to conduct, such as a flood risk search, for which there will be a fee. You have the option of receiving any payments owed to you through check or telegraphic transfer. Receiving revenues or other payments by cheque is free of charge. We will charge an extra cost of £30.00 plus VAT if you want to receive funds via telegraphic transfer.

**** We contract with a third-party business to carry out AML (anti-money laundering) checks on our behalf. We are required by law to do AML checks on each person involved in a transaction, and we will charge a fee for each check performed.

Land Tax Stamp Duty
Stamp Duty may also be applicable. This is determined by the purchase price of your property and whether you own other properties. You can calculate the amount you must pay by visiting HMRC’s website or, if the property is in Wales, the Welsh Tax Authority’s website.

In all circumstances, a Stamp Duty Land Tax (SDLT) form is necessary. You may be able to In all circumstances, a stamp duty land tax (SDLT) form is necessary. You may be able to choose to complete this yourself. If there is a lender then we will have to complete it for you. If you request or we are required to complete the form, we will charge an additional price of £75.00 plus VAT.