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Buying and Selling Factsheets
Purchase - Residential Conveyancing
Stamp Duty or Land Tax
You will also have to pay Stamp Duty or Land Tax. The amount depends on the purchase price of your property and whether you own any other properties. You can calculate the amount you will need to pay by using HMRC’s website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority’s website https://beta.gov.wales/land-transaction-tax-calculator
The typical timescales and key stages of the purchase transaction
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. On average the process takes between 8-16 weeks.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances but will typically include:
•Take your instructions and give you initial advice
•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 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
The experience of the people who may carry out the work for you:
We provide links to our Team Members’ profiles on our Website.
Purchases
Our fees cover all of the legal work required to complete the purchase of the property, 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.
The information is based on a number of assumptions and particular the fee assumes that:
– 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
– The transaction is concluded in a timely manner and no unforeseen complication arise
– All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
– No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
There may be circumstances when other costs may be incurred due to particular circumstances of your particular transaction but we will advise you if this becomes the case and will tell you about any additional costs when the arise
Sales - Residential Conveyancing
The experience of the people who may carry out the work for you
We provide links to our Team Members’ profiles on our Website.
The typical timescales and key stages of the purchase transaction
How long it will take from the offer being accepted until you can move will depend on a number of factors. On average the process takes between 8-16 weeks.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances but will typically include:
• Take your instructions and give you initial advice
• Advise on contract documents
• Supplying information to you and those involved with the transaction;
• Checking the title of the property you are selling;
• Preparing documents, the sale contract and deeds relating to your sale;
• Dealing with questions and enquiries raised by your buyer’s Solicitors;
• Reporting and providing information to you relating to the property you are selling;
• Exchanging contracts, following any necessary negotiations on the terms;
• Approving the transfer deed to the buyers;
• Completing your sale and accounting to you for the proceeds or receiving from you any monies required to complete the sale;
• Dealing with all post-completion matters, particularly repaying any outstanding mortgages or loans.
Sales
Our fees covers all of the legal work required to complete the sale of the property based in England & Wales.
The information is based on a number of assumptions and particular the fee assumes that:
– 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
– The transaction is concluded in a timely manner and no unforeseen complication arise
– All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
– No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
There may be circumstances when other costs may be incurred due to particular circumstances of your particular transaction but we will advise you if this becomes the case and will tell you about any additional costs when the arise
Mortgages and Remortgages
The experience of the people who may carry out the work for you
We provide links to our Team Members’ profiles on our Website.
The typical timescales and key stages of the purchase transaction
How long it will take from the offer being made until the remortgage is completed and registered will depend on a number of factors. On average the process takes between 4-6 weeks.
It can be quicker or slower, depending on the parties involved.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances but will typically include:
• Obtaining details from you as to the whereabouts of your Title Deeds (if applicable). If you have a mortgage on the property, it is likely that the title deeds will be with your lender. If this is the case, we will require the details of your lender as well as your account number.
• Investigating the title of the property and obtaining a redemption figure for your existing mortgage
• We may need to carry out a Local Authority Search. This will entirely depend upon whether your new lender requires a search to be undertaken
• Considering the mortgage company’s instructions to us and considering the terms and conditions of your mortgage to ensure that they are complied with
• Preparing the mortgage and other documents and obtaining your signatures to them where appropriate
• Reporting to the mortgage company and obtaining the mortgage advance
• Completing the re-mortgage. This is the date when the old mortgage will be repaid and the new mortgage will commence.
• Registering the transaction at the Land Registry;
• Forwarding the title documents to the mortgage company and accounting to you for any money held on your behalf.
Mortgages/Remortgages
A mortgage or re-mortgage occurs either when a mortgage is placed on a property which has no mortgage or you redeem the existing mortgage and transfer the mortgage to a new lender. The fees for our mortgage and remortgage price information apply only apply if you are using a mainstream or High Street Lender. If you have a mortgage offer with a non-mainstream lender, then our fees will be higher.
It is important to note that you cannot normally remortgage unless you have owned the property for a period of six months. If you wish the remortgage to go through within the six months period you must check with your lender as to whether this is possible.
The information is based on a number of assumptions and particular the fee assumes that:
– This is a standard transaction
– The transaction is concluded in a timely manner and no unforeseen complication arise
– All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
– No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
There may be circumstances when other costs may be incurred due to particular circumstances of your particular transaction but we will advise you if this becomes the case and will tell you about any additional costs when the arise.
