Pricing Guidelines - Residential property

 

Electronic money transfer fee - £40

Disbursements are costs related to your purchase that are payable to third parties, such as search fees and Land Registry 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.

 

 

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

This depends on the purchase price; whether you are a first time buyer; own another property; or are a non UK resident.  

You can calculate the amount you will need to pay by using HMRC's website. 

If you are buying for £350,000, not a first time buyer, do not own another property, and are a UK resident, the stamp duty will be £5000.

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. The average process takes between 8 - 20 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such, a situation additional charges would apply.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the following is an outline of typical stages:

 

• 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 and the lease
• Review the management pack from the landlord and/or management company
• 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
• Services of Notices of Assignment and mortgage
• Deal with application for registration at Land Registry

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;

 

• This is the assignment of an existing lease and is not the grant of a new lease;
• 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.