Residential Conveyancing Pricing

These costs apply in relation to residential conveyancing. We predominantly deal with residential sales.

Our hourly headline rates range from £110.00 (for a paralegal/trainee) to £400.00 (senior consultant) per hour (plus VAT charged at 20%), depending on the individual dealing with your matter.

The average range of fees in this area are between £1,000.00 (plus VAT) and £3,000.00 (plus VAT). A more accurate assessment of fees will be given once the facts, complexity and value of your matter are made known to us.

Work done on a ‘fixed fee’ basis will be agreed in advance and the fee will be subject to your approval.  Any work incurred that was not originally quoted for will be agreed before continuing.

Disbursements

You will be informed of any disbursements that will be payable by you in order to deal with your matter, as well as whether they attract VAT (charged at 20%), prior to the cost being incurred. Disbursements are expenses related to your matter that are payable to third parties; the most common of which are search fees or HMLR fees (e.g. for a copy of your title).

The following are other disbursements which we might have to incur on your behalf:

Our fee includes:

• Taking your instructions and reviewing documentation
• If you are selling: –

• Liaising with the Selling Agent to assist with the preparation of the sales particulars.

• Preparing a sales pack for the purchaser including replies to standard enquiries, title details and other copy documents, such as planning permissions, guarantees and certificates and, if it’s a leasehold, management information from the managing agents.
• Preparing a draft contract on your terms and negotiating that with the purchaser’s solicitor.
• Investigation of title.
• If the property is leasehold, obtaining any necessary information and consents from your landlord.
• If you are buying:
• Investigation of title
• Review of a full set of standard searches for your property purchase (if applicable).
• Comprehensive report on our investigations and copies of all documents referred to therein.
• Completion and submission of SDLT forms and payment of SDLT
• Registration of the property in your name at the Land Registry (subject to paying the Land Registry fees) and, if relevant, securing the bank’s charge on the property

The typical time scale of a residential conveyance is between 3-6 months depending on the circumstances of your matter. We can provide you with a more accurate time scale once the facts of your matter are made known to us.

Not included in the cost is the following:

• Liaising with your bank to arrange for the redemption of any mortgage on the Property (Howman are not on residential conveyancing banking panels and this aspect would need to be dealt with separately or by another firm).
• Tax advice.
• Interpretation of planning documents other than on a superficial level.
• Advice regarding neighbouring and adjoining properties.
• Drafting additional documentation (e.g. lock out / exclusivity agreements, co-habitation agreements / trust deeds).

Additional Costs & Disbursements

Note that: The usual third-party costs and disbursements mean any costs or expenses paid or to be paid to a third party on behalf of a client (including any VAT element). These costs will vary from property to property. We will provide accurate figures once we have contacted the parties involved in your transaction.

Overview of a sale / purchase

Key Stages

The specific steps involved in the sale or purchase of a residential property will vary depending on the circumstances of each transaction. However, the following outlines the principal stages typically involved:

Sale

While the precise process may vary, the key stages generally include:

• Taking your instructions and carrying out identity and anti-money laundering checks and  source of funds checks.
• Providing you with standard property information forms and questionnaires to complete.
• Reviewing whether the sale proceeds will be sufficient to redeem any existing mortgage(s) secured against the property**.
• Drafting the contract and preparing the sales pack.
• Responding to enquiries raised by the buyer’s solicitor, with your assistance where required.
• Negotiating and agreeing the contract/ transfer deed with the buyer’s solicitor.
• Agreeing the proposed completion date (i.e., the date on which legal ownership is transferred from the seller).
• Sending the final version of the contract to you for signature.
• Exchanging contracts and notifying you once exchange has occurred.
• Sending the transfer deed to you for signature.
• Completing the sale.
• Remitting funds to the lender to obtain a discharge of any existing mortgage**.
• Settling any estate agent’s fees from the sale proceeds (where agreed).
• Transferring the net sale proceeds to you.

** If a mortgage is applicable this may need to be redeemed by a third-party firm of solicitors.

Purchase

As with the sale, the stages involved in a residential purchase will vary according to the particular transaction and title. However, the key stages commonly include:

• Taking your instructions and carrying out identity and anti-money laundering checks and  source of funds checks.
• Ensuring that appropriate financing is in place to fund the purchase. Note that if you are getting a mortgage we would, more than likely be unable to act.
• Receiving and advising you on the contract documentation.
• Undertaking the necessary searches.
• Receiving and reviewing your surveyor’s report in respect of the physical condition of the property, and making further enquiries where required.
• Obtaining any additional planning documentation, if necessary.
• Raising pre-contract enquiries with the seller’s solicitor.
• Providing you with a report on title.
• Advising you on matters relating to joint ownership, where relevant.
• Preparing a draft transfer deed.
• Agreeing a proposed completion date.
• Sending the final contract to you for signature, together with a request for payment of the deposit.
• Exchanging contracts with the Seller’s Solicitors.
• Carrying out pre-completion searches.
• Arranging for the receipt of all funds required to complete.
• Completing the purchase.
• Dealing with the payment of Stamp Duty Land Tax.
• Serving any necessary post-completion notices (e.g., notices of assignment or charge).
• Submitting the application for registration of your ownership with HM Land Registry.

Team Experience

Our team has over 50 years of collective experience in delivering high quality work in all matters relating to residential conveyancing. They have particular expertise in residential property sales.

We have three core members of the team who may work on your matter. These are:

Peter Jacobs – Qualified Solicitor with in excess of 20 years of post-qualification experience.

Christopher Allen – Qualified Solicitor with in excess of 20 years of post-qualification experience.

Rebecca McMorrow – Licensed Conveyancer with in excess of 5 years of post-qualification experience.

Our solicitors have experience in all aspects of law relating to residential conveyancing and we dedicate ourselves to ensuring our knowledge stays up to date, in order to give you the best service possible. We always make sure that junior solicitors and members of staff are supported and supervised appropriately so that the quality of advice is not affected, regardless of who is working on your case.

We also have a team of 4/5 paralegals, trainee solicitors and trainee legal executives who assist with the day to day work on matters. They are working towards legal qualification and have collectively 5 years’ experience, have received appropriate training within our firm and work under the direct supervision of a solicitor with at least 5 years post qualification experience.