Property

Download PDF

Property

Our prompt and cost-effective legal service is ideal for property traders either for residential or commercial purposes. The sale and purchase of private property is a daunting task for people as it involves very crucial and complex documentation of the transaction. Our property solicitors understand the frustration and unease caused by conveyancing process and therefore, undertake the whole task on the behalf of the client with supreme responsibility.

We mainly focus on the understanding and awareness of the client regarding the procedures and patiently explains all the documentation involved and keep updating the clients about the developments in the conveyance. We are equipped with the outstanding expertise to assist you in connection with all property transactions including purchase and sale of domestic property either freehold or leasehold, remortgages, joint ownership, auctions and lease extensions.

We also provide convenient solutions for undertaking the commercial property transactions swiftly without any obstruction. Our planning has the unique result-oriented approach that enables us to avoid any potential disputes and conflicts that often occur while commercial property conveyance.

We excel in providing a broad area of commercial transaction including, acquisition and disposal of commercial property either freehold or leasehold, leasing for landlords and tenants, advice on security and all other conveyance issues, business tenancy renewals, leaseholds, surrenders and licensing. We emphasise on implementing secure methods in order to save the business of the clients from any potential risks.

FEE STRUCTURE

Our fees cover the work required to complete the sale or purchase of your home. Below is a guidance of the fees for the sale or purchase of your leasehold or freehold property (residential). Contact us to obtain an accurate quote based on your particular sale or purchase.

Gurpal Hundal, Director and Priyesh Bhardwaj, Solicitor handle Residential and Commercial Conveyancing. Gurpal Hundal supervises all Priyesh Bhardwaj files.

Purchase of Freehold Residential Property

Our fees cover all of the work* required to complete the purchase of your new home, 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.

Conveyancer’s fees and disbursements
FROM
  • Legal fee: Up to property value of £350,000 legal fee £700.00 plus VAT
    • From £351,000 to £1,000,000 legal fee £1000 plus VAT
    • Over £1,000,000 legal fee: 0.2% of property value
  • Search fees from £226.10 inclusive of VAT (VAT: £37.68)
  • HM Land Registry fee to be based on property value. See HM Land Registry website for fees http://landregistry.data.gov.uk/fees-calculator.html
  • Electronic money transfer fee per transfer: £30.00 (No VAT)
  • Anti-Money Laundering Search (per person): £7.20 inclusive of VAT (VAT: £1.20)
  • Bankruptcy Search (per person): £2.00 (No VAT)
  • Lawyer Checker: £12.00 inclusive of VAT (VAT: £2.00)
  • Priority Search: £3.00 (No VAT)
  • Stamp Duty fee to be based on property value
  • Completion of Stamp Duty return: £70.00 plus VAT
  • Acting for lender (if buying with mortgage): £200.00 plus VAT

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here..

How long will my house purchase take?

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 6-8 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to 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

Purchase of Leasehold Residential Property

Our fees cover all the work* required to complete the purchase of your new home, 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 is in Wales.

Conveyancer’s fees and disbursements
  • Legal fee: Up to property value of £350,000 legal fee £700.00 plus VAT
    • From £351,000 to £1,000,000 legal fee £1000 plus VAT
    • Over £1,000,000 legal fee: 0.2% of property value
  • Leasehold supplement fee: £150.00 plus VAT
  • Search fees £226.10 inclusive of VAT (VAT: £37.68)
  • HM Land Registry fee to be based on property value.
  • Electronic money transfer fee per transfer: £30.00 (No VAT)
  • Anti-Money Laundering search (per person): £7.20 inclusive of VAT (VAT: £1.20)
  • Bankruptcy Search (per person): £2.00 (No VAT)
  • Lawyer Checker: £12.00 inclusive of VAT (VAT: £2.00)
  • Priority Search: £3:00 (No VAT)
  • Completion of Stamp Duty return: £70.00 plus VAT
  • Stamp Duty fee to be based on property value
Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as search 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.

Anticipated Disbursements*
  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £150.00 – £500.00.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £150.00 and £500.00.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £125.00 and £500.00.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100.00 – £500.00

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

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.

Stamp Duty Land Tax

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to 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
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • 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
How long will my house purchase take?

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 6-8 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

* Our fee assumes that:

  1. 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
  2. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

If you wish to use an online quote calculator for residential conveyancing

Below is list of things you may wish to consider if you use an online quote calculator for conveyancing matters. You could, if you wish, build questions to find out the following information:

  • value of the property
  • first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • first registration of title
  • whether a mortgage or not, or Islamic mortgage
  • in purchase cases, whether primary residence, buy to let or second/holiday home
  • multiple owners
  • shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • purchase under right to buy
  • purchase at auction
  • property has been repossessed

NB: This list is not intended to be exhaustive. The important point is that the information you request should generate the total cost. Please note that any disbursements (save for SDLT/LTT) should be included in the total cost quoted to consumers.

Sale of Freehold Residential Property

Our fees cover all of the work* required to complete the sale of your home, including dealing with redeeming the mortgage.

Conveyancer’s fees and disbursements
FROM
  • Legal fee: Up to property value of £350,000 legal fee £500.00 plus VAT
    • From £351,000 to £500,000 legal fee £700 plus VAT
    • From £500,000 to £1,000,000 legal fee £1000 plus VAT
    • Over £1,000,000 legal fee: 0.75% of property value
  • Land Registry Office Copies and Plan: £3.00 per document from Land Registry with minimum fee of £6.00 (No VAT)
  • Electronic money transfer fee per transfer: £30.00 (No VAT)
  • Anti-Money laundering search (per person): £7.20 inclusive of VAT (VAT: £1.20)
  • Bankruptcy Search (per person): £2.00 (No VAT)

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

How long will my house sale take?

How long it will take from accepting the buyer’s offer being accepted until you can move out your house will depend on a number of factors. The average process takes between 6-8 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if the buyer is a first time buyer, purchasing a new build property with a mortgage in principle, it could take 6 weeks. However, if the property is a leasehold property, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice
  • Check title and charges on the property
  • Obtain all warranties, guarantees, certificates and responses to Property Forms.
  • Draft and advise on contract documents
  • Make any necessary replies to enquiries of buyer’s solicitor
  • Give you advice on all documents required and enquiries received
  • Obtain redemption figure from the lender
  • 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
  • Communicate with estate agent
  • Send final completion statement
  • Complete sale
  • Deal with redeeming the mortgage
  • Make available all documents to buyer’s solicitors

Sale of Leasehold Residential Property

Sale of a leasehold residential property

Our fees cover all the work* required to complete the sale of your new home, including dealing with the management company and redeeming the mortgage.

Conveyancer’s fees and disbursements
  • Legal fee: Up to property value of £350,000 legal fee £500.00 plus VAT
    • From £351,000 to £500,000 legal fee £700 plus VAT
    • From £500,000 to £1,000,000 legal fee £1000 plus VAT
    • Over £1,000,000 legal fee: 0.75% of property value
  • Leasehold supplement fee: £150.00 plus VAT
  • Land Registry Office Copies and Plan: £3.00 per document from Land Registry with minimum fee of £6.00 (No VAT)
  • Electronic money transfer fee per transfer: £30.00 (No VAT)
  • Anti-Money Laundering Search (per person): £7.20 inclusive of VAT (VAT: £1.20)
  • Bankruptcy Search (per person): £2.00 (No VAT)
Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as search 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.

Anticipated Disbursements*
  • Management Pack – This fee if chargeable is set out in the lease or will be requested by the management company and can be difficult to estimate. Often the fee is between £150.00 and £550.00.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100.00 – £500.00

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property.

Stages of the process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice
  • Take your instructions and give you initial advice
  • Check title and charges on the property
  • Obtain all warranties, guarantees, certificates and responses to Property Forms.
  • Draft and advise on contract documents
  • Obtain management pack from management company and make available to buyer
  • Make any necessary replies to enquiries of buyer’s solicitor
  • Give you advice on all documents required and enquiries received
  • Obtain redemption figure from the lender
  • 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
  • Communicate with estate agent
  • Agree completion statement with buyer’s solicitors
  • Send final completion statement
  • Complete sale
  • Deal with redeeming the mortgage
  • Make available all documents to buyer’s solicitors
How long will my house sale take?

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 6-8 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

* Our fee assumes that:

  1. 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
  2. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

If you wish to use an online quote calculator for residential conveyancing

Below is list of things you may wish to consider if you use an online quote calculator for conveyancing matters. You could, if you wish, build questions to find out the following information:

  • value of the property
  • first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • first registration of title
  • whether a mortgage or not, or Islamic mortgage
  • in purchase cases, whether primary residence, buy to let or second/holiday home
  • multiple owners
  • shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • purchase under right to buy
  • purchase at auction
  • property has been repossessed

NB: This list is not intended to be exhaustive. The important point is that the information you request should generate the total cost. Please note that any disbursements (save for SDLT/LTT) should be included in the total cost quoted to consumers.