Residential & Commercial Property Law

As a specialist property law firm, we have extensive experience dealing with commercial property i.e. buying and selling commercial business/ property, negotiating new and existing commercial leases and all forms of commercial property agreements including joint ventures and investments transactions

Our dedicated and experienced Property Team has wide ranging experience in a variety of residential transactions and can assist you in sales, purchases, and refinancing.

Buying or selling a home can be a stressful process and our aim is to provide an efficient and thorough service, endeavouring to meet our clients’ requirements at all times. For timescales, fees and disbursements associated with a property transaction see below.

Residential

Our conveyancing team is made up of qualified solicitors (all with over 10 years’ experience). The team is supervised by David Conway and Jonathan Ingram both of whom have over 25 years’ experience working in residential conveyancing. Please refer to the “meet the team” section of this website to give you full details of the person carrying out your Conveyancing work and, if appropriate, the supervising individual.

The precise stages involved in the home selling and buying process and timescales for each stage also vary. There are many factors affecting the timescales for each stage, including the requirements of other members of the chain or mortgage applications.

We aim to reply or action any correspondence and telephone calls on the date received or, it that is not practical or the information requested is not immediately available, then as soon as reasonably possible to limit any avoidable delays in the process.

The Law Society has devised a quality assurance scheme for solicitors who deal with buying and selling property known as the Conveyancing Quality Scheme. We are members of the scheme which means that we meet high standards set by the Law Society in order to ensure that we give clients a professional and high-quality conveyancing service.

Please get in touch with us and we will be happy to discuss your individual needs.

Residential Re-mortgage

• Obtain copies of your deeds.

• On a leasehold transaction, obtaining a landlord’s management pack to satisfy the lender’s requirements.

• Agree a completion date with all parties.

• Redeem any existing mortgage and complete the new mortgage

• Apply for registration of your title at the Land Registry

• Forward title documentation to you and the new lender.

Sale of Freehold / Leasehold Property

On the sale of a property we will:

  • Obtain copies of your deeds
  • Prepare a draft contract and supporting documentation for the buyer’s solicitors. Deal with any enquiries raised by the buyer’s solicitors
  • On a leasehold transaction, obtaining a landlord’s management pack for forwarding to the buyer’s solicitors.
  • When all parties are ready and a completion date has been agreed, exchange contracts
  • Pre-completion legal arrangements and checks
  • On completion, receiving purchase funds from your buyer, paying off any mortgage and sending any surplus to you

Purchase of Freehold Property

The Process

  • Taking your initial instructions and providing you with initial general advice.
  • Request contract and supporting documents and advise on documentation received.
  • Carry out local authority and other searches where required.
  • Raise any necessary enquiries of the seller’s conveyancer.
  • Report to you on documents received from the seller’s conveyancer and search results.
  • Go through mortgage conditions and requirements with you.
  • Send you the final contract for signature.
  • Agree a completion date with all parties.
  • Exchange contracts
  • Advise you and your lenders of the funds required to complete the transaction.
  • Complete the purchase.
  • Submit and pay Stamp Duty Land Tax to HMRC
  • Apply for registration of your title at the Land Registry
  • Forward title documentation to you.

Purchase of Leasehold property

  • If you are purchasing a leasehold property we will also:-
  • Review and report to you fully on the terms of the lease.
  • Advise you on ground rent and service charge pursuant to the lease.
  • Advise you of any additional costs required pursuant to the Lease in respect of the Landlord or their managing agents.
  • We also deal with information received from the seller’s conveyancer.
  • Re-mortgages
  • Transfer of equity
  • New leases
  • Lease extension
  • New build purchases
  • Auction sales/ purchases
  • Deeds of Variation

Timescales, Fees & Disbursements

Timescales

It is difficult to accurately predict the timescale of a property transaction. The timescale will depend on a number of factors including whether the transaction forms part of a chain and the complexity of the matter and the number of parties involved. On average, transactions of this nature tend to take between seven to twelve weeks to reach completion. Completion can be on any date which is agreed between the parties, but the usual period is four weeks from the date of exchange.

Fees and Disbursements

Legal Fees

Our fees will depend on the value of the property you are purchasing and the complexity of the work involved and time spent and will range from £950 to £3,000 plus VAT. We reserve the right to provide an estimate outside this range dependent on unusual circumstances or value. At the outset of any transaction you will be provided with a full estimate of cost and disbursements that are likely to be incurred and the hourly charging rate of the partner/fee earner dealing with the matter.

If you are buying with the assistance of a mortgage we will charge an additional fee of £150 plus VAT, assuming that the mortgage is being provided by a High Street lender. Additional fees may apply with more complex mortgage transactions.

On a leasehold sale or purchase, we may have to charge an additional £150 plus VAT to deal with a transfer of any interest in the freehold title.

If the transaction involves a lease extension we will provide you with an estimate once we know the full details. The fees outlined above assumes that the transaction is standard does not prove to be more complicated or protracted than originally anticipated.

Re-mortgage Fees

On a re-mortgage, our fees will depend on the value and type of mortgage being taken (where the lender may have special requirements or use their own solicitors). Our fees will range from £350 to £600 plus VAT. Additional fees may be payable if the lender uses its own solicitors.

The fees outlined above assumes that the transaction is standard does not prove to be more complicated or protracted than originally anticipated.

Where VAT is payable this will be at the current rate of 20%.

Disbursements

These are costs related to your property purchase which are payable to third parties such as Land Registry and search providers.

For leasehold purchases the Landlord or their managing agents may charge fees for the following:-

  • Notice of Assignment and/or Charge
  • Deed of Covenant
  • Certificate of Compliance for Land Registry purposes

Search Fees

  • Land Registry Priority Search fee £3.00
  • Land Registry Official Copy of Register Entries/Title Plan £3.00 per document
  • Bankruptcy Search (required when obtaining a mortgage) £2.00 per name search.
  • Local authority, water authority and environmental searches – approximately £400.

Stamp Duty Land Tax

Stamp Duty Land Tax payable will depend on the purchase price of the property and whether you are a first time buyer or you already own additional residential property. We will advise you of the correct duty payable depending on your circumstances at the onset of the transaction.

Land Registry Fee

  • Registration your title from – £20.00 to £455.00 depending on the property value.

Electronic Funds Transfer Fee

  • £35.00 plus VAT per payment.

LET’S WORK TOGETHER

We offer specialist legal services tailored to assisting businesses and individuals alike. Get in touch today to see how we can help you.

MAKE ENQUIRY