Residential and Conveyancing

Sale

The following is a guide to the work involved in a freehold sale:

  • Obtain and check the title deeds and documents and obtain from you completed property information forms;
  • Contact your mortgage lender (if any) to obtain redemption figures;
  • Prepare the contract of sale and send it to the buyer’s solicitor with supporting title and other relevant information;
  • Respond to pre-contract enquiries raised by the buyer's solicitor on title/search results;
  • Agree with the buyer's solicitor the document by which you will transfer ownership, advise you on its provisions and arrange for you to sign it;
  • Settle the terms of the contract of sale with the buyer's solicitor, advise you on it and arrange for you to sign it;
  • Exchange contracts and receive the deposit payment;
  • Obtain final redemption figures from your mortgage lender (if any), prepare and send to you a completion statement;
  • Complete the sale for you, receive the sale proceeds, pay the amount required to redeem your existing mortgage (if any) and request confirmation of discharge;
  • Pay the estate agent’s fees and other costs and deal as agreed with any surplus sale proceeds.

 

Below is an illustration of what we would expect to charge for the sale of a freehold property:

Price Charges
£250,000 £795 plus VAT
£500,000 £950 plus VAT
£750,000 £1,050 plus VAT
£1,000,000 £1,095 plus VAT

Leasehold transactions are necessarily more complex so we usually charge an additional £175 plus VAT to cover the extra work in corresponding with the Landlord/Management Company or their solicitors/managing agents over such matters as information packs, annual charges and administration fees.

Examples of our charges for the sale of a leasehold property are as follows:


Price Charges
£250,000 £970 plus VAT
£500,000 £1,125 plus VAT
£750,000 £1,225 plus VAT
£1,000,000 £1,270 plus VAT

We charge £30 plus VAT for sending funds to you or your lender by a same day CHAPS transfer.  If you prefer to receive the funds by a BACS transfer (taking two clear working days) we charge £10 plus VAT.  We do not charge for sending cheques.

The Land Registry charge a fee (to which we are obliged to add VAT) of £3 per copy for Official Copies of the register entries, filed plan and any other documents referred to on the title to your property, of which they hold copies. 

To comply with our Anti-Money Laundering obligations, in most cases we will carry out electronic identity checks (as well as requesting copy documents), for which we charge £5 plus VAT per client. 

In addition, unless the solicitors or conveyancers for the buyers are well known to us, we will undertake a check against that firm at a cost of £12 plus VAT, to protect our clients against fraud.

Purchase

The following is a guide to the work involved in a freehold purchase:

  • Investigate the title to the property, including carrying out appropriate searches and reviewing the property information form completed by the seller;
  • Make additional enquiries of the seller’s solicitors and review their replies;
  • Agree the contract of sale with the seller's solicitors, advise you on its provisions and arrange for you to sign it and pay the deposit;
  • Prepare and agree with the seller's solicitors the document which will transfer ownership to you;
  • Report to you and advise you on the title to the property, the information supplied by the seller, the results of searches and the replies to enquiries;
  • Advise you in respect of your mortgage (if any) and arrange for you to sign the mortgage deed;
  • Exchange contracts and pay the deposit collected from you;
  • Transfer funds by same day transfer to the seller’s solicitors to complete your purchase;
  • Calculate any necessary Stamp Duty Land Tax and submit to HM Revenue & Customs the appropriate tax form(s) and payment;
  • Register your purchase and mortgage (if any) at the Land Registry. 

Below is an illustration of what we would expect to charge for the purchase of a freehold property:

Price Charges
£250,000 £850 plus VAT
£500,000 £995 plus VAT
£750,000 £1,095 plus VAT
£1,000,000 £1,150 plus VAT

As with the sale of a leasehold property, we usually charge an additional £175 plus VAT for the purchase of a leasehold property.  This covers the extra work in considering the information pack/replies to leasehold enquiries, reporting to you and advising you on the terms of the lease, complying with its provisions and apportioning the annual charges between seller and buyer on completion.

Examples of our charges for the purchase of a leasehold property are as follows:


Price Charges
£250,000 £1,025 plus VAT
£500,000 £1,170 plus VAT
£750,000 £1,270 plus VAT
£1,000,000 £1,325 plus VAT

The Landlord/Management Company or their solicitors/managing agents usually charge for dealing with such matters as Notices of Transfer and Mortgage, Certificates of Compliance or Deeds of Covenant.  These fees can be as little as £50 or as much as £500 and may or may not be subject to VAT.  They will be confirmed in replies to enquiries before exchange of contracts. 

We charge £30 plus VAT for sending funds by same day CHAPS transfer to complete the purchase.

As with a sale, we usually charge £5 plus VAT per client for an electronic identity check; and unless the solicitors or conveyancers for the sellers are well known to us, we will undertake a check against that firm at a cost of £12 plus VAT, to protect our clients against fraud.

The following are details of the other expenses involved in a typical purchase transaction.  They are correct as at February 2020 but any changes will be notified to you when they are known.

Local Authority Search This depends on the local authority for the property you are purchasing.  For example the fee for a search of Rushmoor Borough Council is £152.40 including VAT.
Drainage and Water Search This depends on the sewerage undertaker for the property you are purchasing. For example the fee for a search of Thames Water is £69.72 including VAT.
Environmental Search £61.20 including VAT
Land Registry Search £3.60 per title including VAT
Bankruptcy Search (if you have a mortgage) £2.40 per person including VAT
Stamp Duty Land Tax This tax, payable to HMRC, is based on the purchase price of the property.  Standard and higher rates of tax may apply or reliefs (e.g. for First Time Buyers) may be available, depending on your circumstances.  We will advise you of the amount payable when we have the necessary details. Please click on the following link for further guidance:  www.gov.uk/stamp-duty-land-tax
Land Registry Registration Fee This depends on the value of the property and whether its title has already been registered. Please click on the following link for further details: www.gov.uk/guidance/hm-land-registry-registration-services-fees

Due to the additional work involved, we will add the following to the charges quoted above:

Help to Buy £250 plus VAT
Help to Buy ISA £50 plus VAT
Shared Ownership £175 plus VAT
Newbuild properties £175 plus VAT

Please note that if other additional work is required, then we may charge additional fees.  For example: if the title to the property is defective; if the title to the property is partly or wholly unregistered; if additional documentation or information is required but is not readily available. We will discuss this with you before proceeding with the additional work.

If you wish to guard against the possibility of a sale or purchase transaction not proceeding, due to the other party withdrawing or some other problem not of your making, a payment of £50 including VAT can be made. This will cover our charges for one abortive transaction and is payable at the outset. It will not cover any search fees or other expenses already incurred. This is a separate charge and therefore will not be deducted from the costs of successful transactions.

 A typical transaction may take anywhere between 8 and 12 weeks. It can be quicker or slower depending on numerous factors including the length of the chain involved or a defect in the title to a particular property. A leasehold transaction is likely to take longer than a freehold one.

Below are details of our charges for other types of transaction:

Remortgage From £500 plus VAT
Transfer of Equity From £500 plus VAT
Transfer of Equity and Remortgage From £595 plus VAT
Deed of Gift £300 plus VAT
Declaration of Trust in conjunction with a purchase £175 plus VAT
Lease Extension (without an application to the Tribunal) £850 plus VAT
Voluntary First Registration of Title From £300 plus VAT
Redemption of Mortgage and Discharge of Charge £175 plus VAT

If you require independent legal advice on a conveyancing matter, please contact us for a quotation as this will depend on the work involved in providing the advice to you.

Davies, Blunden & Evans – a team you can trust

Our firm was established in 1910 and we have been providing a conveyancing service to our clients ever since. Many clients return again and again when they are moving home, buying for investment, selling a relative’s property or needing our help in some other property-related matter.

Our conveyancing team consists of four solicitors and one legal executive/licensed conveyancer, three of whom are currently partners of the firm. Between them, they have over 125 years of experience. They are assisted by eight support staff, with many years’ experience in their own right.

We handle conveyancing matters at our Farnborough main office and our Yateley branch office, whichever is more convenient for our clients. We deal with all sorts of properties, both in our local area and across the country. We are accredited under the Law Society’s Conveyancing Quality Scheme (our CQS number is 02583) and we are on the conveyancing panels of most lenders.

So whatever your conveyancing requirements are, we have the team to look after them for you.

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contact

FARNBOROUGH OFFICE:

T: 01252 541633

E: law@dbande.co.uk

YATELEY OFFICE:

T: 01252 872617

E: yateley@dbande.co.uk

MILITARY EMERGENCY | 
24HR POLICE STATION:

07973 408686

 

Contact Us

Farnborough Office

Tel: 01252 541633

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Yateley Office

Tel: 01252 872617

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Davies Blunden & Evans (SRA Number 00280516) 
is authorised and regulated by the solicitors regulation authority.     

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