Conveyancing (residential)

Purchase of a 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

  • Legal fee £495.00
  • VAT payable £99.00
  • Completion of Stamp Duty Land Tax Form £50.00
  • VAT payable £10.00
  • Search fees £177.00
  • HM Land Electronic Registry fee £40.00
  • Electronic money transfer fee £25.00
  • VAT payable £5.00
  • Bank transfer fee £11.00
  • VAT payable £2.20
  • HM Land Registry Search Fee £3.00
  • HM Land Charges Fee (Per Person) £2.00

Estimated total: £919.20

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..

In order to obtain a bespoke quote tailored to your circumstances please click the link on our online Conveyancing Quoting System.

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 8-16 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 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 5 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 a 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 £520.00
  • VAT payable £104.00
  • Completion of Stamp Duty Land Tax Form £50.00
  • VAT payable £10.00
  • Search fees £177.00
  • HM Land Electronic Registry fee £40.00
  • Electronic money transfer fee £25.00
  • VAT payable £5.00
  • Bank transfer fee £11.00
  • VAT payable £2.20
  • HM Land Registry Search Fee £3.00
  • HM Land Charges Fee (Per Person) £2.00

Estimated total: £949.20

In order to obtain a bespoke quote tailored to your circumstances please click the link on our online Conveyancing Quoting System.

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 £60.00 – £150.00.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £60.00 – £150.00.
  • 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 £75.00 – £150.00.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £75.00 – £150.00.

*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 8-16 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 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 5 months. In such, a situation additional charges would apply.

Re-mortgage

Our fees cover all the work required to complete the re-mortgage of your home, including dealing with registration at the Land Registry and dealing with the repayment of your mortgage.

Conveyancer’s fees and disbursements

  • Legal fee £400.00
  • VAT payable £80.00
  • Search fees £177.00
  • HM Land Electronic Registry fee £40.00
  • Electronic money transfer fee £25.00
  • VAT payable £5.00
  • Bank transfer fee £11.00
  • VAT payable £2.20
  • HM Land Registry Search Fee £3.00
  • HM Land Charges Fee (Per Person) £2.00

Estimated total: £745.20

Transfer of Equity

Our fees cover all the work required to complete the Transfer 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 is in Wales.

Conveyancer’s fees and disbursements

  • Legal fee £350.00
  • VAT payable £70.00
  • Completion of Stamp Duty Land Tax Form £50.00
  • VAT payable £10.00
  • HM Land Electronic Registry fee £40.00
  • Electronic money transfer fee £25.00
  • HM Land Registry Search Fee £3.00
  • HM Land Charges Fee (Per Person) £2.00

Estimated total: £550.00

In order to obtain a bespoke quote tailored to your circumstances please click the link on our online Conveyancing Quoting System.

* 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 your purchase includes any of the below then additional fees inclusive of VAT listed below will need to be added to the Legal Fees

Help to Buy Isa Bonus £60.00

Help to Buy Purchase £180.00

Gifted Deposit £60.00

New Build Fee £180.00

Experience

Nicola Bennell:

Nicola qualified as a solicitor in 2004 having graduated from Northumbria University.  Having spent over 22 years in a large regional law firm in Newcastle, Nicola has a wealth of experience in a wide range of Conveyancing matters.

Nicola deals with Freehold/Leasehold Residential sales and purchasers, Shared Ownership matters, Right to Buy, Equity Release transactions, Deed of Variations, Purchase of Freehold reversions, Transfer of Equity and Voluntary First Registration.

Nicola is experienced in working to strict deadlines and takes a pro-active approach to her work and prides herself on building excellent working relationships with her clients.

Abbey Tyrrell:

Abbey graduated in Criminology from Northumbria University in 2014, and since graduation has worked in a small firm in Newcastle upon Tyne.

With 4 years of experience in Conveyancing, Abbey joined our Firm in March 2018 as a Paralegal.

Abbey deals with many conveyancing matters from residential sales and purchases, re-mortgages, Transfers and Right to Buy. Abbey prides herself in being pro-active and providing excellent service to her clients.

Gemma Brown:

Gemma is a newly qualified Solicitor who joined the firm in June 2018. Having completed the 4-year M Law (Exempting) degree at Northumbria University and a training contract at another local firm of Solicitors, Gemma is experienced in all aspects of Residential Conveyancing, including sales, purchases, re-mortgages and transfers of equity of freehold and leasehold properties.

Gemma is a proactive individual who works well under pressure. Her sociable personality enables her to build excellent relations with colleagues and strong rapports with clients.

Richard Reed Solicitors is a trading name of Richard Reed Ltd. A full list of company directors is available at 3 – 6, Frederick Street, Sunderland SR1 1NA. Registered in England and Wales. Company Registration No: 05702566 VAT Registration No: 176 6121 59. This firm is authorised and regulated by the Solicitors Regulation Authority. SRA No: 000568890. Richard Reed Ltd is contracted with the Legal Aid Agency.