Buying, Selling & Remortgaging

We offer a fixed fee for this type of service which is based on the value of the property in question. This price is based on the value of the property in question and covers our legal fees and expected disbursements for the complete service which includes:

• Taking your initial instructions
• Undertaking due diligence exercises on the property i.e. carrying out searches and raising/ responding to enquiries
• Drafting and exchanging contracts on your behalf
• Ensuring funds are transferred properly for completing the transfer of property
• Registering the property or mortgages in your name.

For house purchases, a deposit of £300 is required to cover initial costs such as searches, for sales, this is £100 and for remortgages, £150. The remaining balance is to be paid upon completion of the transaction.

Expected Timescales

• House purchase: 7 – 9 weeks
• House sale: 7 – 9 weeks
• Remortgage: 4 – 6 weeks

Tax on Purchases

It is important to consider how much tax you will need to pay on completion. This will depend on the purchase price of your property and how many other properties you already own. In Wales, land transaction tax may be payable – check here: WRA Land Transaction Tax Calculator (Properties in Wales)

In England, HM Revenue and Customs (HMRC) collect stamp duty land tax. Check here to see how much you’ll owe: HMRC Stamp Duty Tax Calculator (Properties in England)

On completion, we will pay the tax to HMRC or WRA, according to our calculations but please note that it is your responsibility to ensure that the correct amount of tax is being paid.

 Please Note:

In certain circumstances, where the matter is unexpectedly complex, there may be additional fees payable, for example:

• If a legal title is defective or part of the property is unregistered
• If you discover building regulations or planning permission has not been obtained
• If crucial documents that you have previously requested from the client have not been provided
• If there is more than one mortgage involved
• If you require an expedited exchange of Contracts or completion within 28 days of instruction or less than 8 days from receipt of a mortgage offer, there will be an additional fee payable of £125.00 plus VAT.

 Potential additional costs for remortgages

• Full searches: Some mortgage lenders require full searches (local, drainage and environmental) to be conducted as part of their checks, which could incur a higher fee. We can advise you more specifically when we know the address of the property.
• Search Insurance: In some instances, mortgage lenders accept Search Insurance in place of full searches. This covers insured parties against specified loss arising from matters which arise after the policy begins but would have been known about had full searches been undertaken. The cost of search insurance depends on the value of the property on a sliding scale.
• Land Registry Registration Fee: After completion of your remortgage, we will register the new mortgage (and any transfer, if applicable) at Land Registry. The fee payable to Land Registry is applied on a sliding scale depending on many factors such as the amount of the loan being secured, whether there are any further advances and if the application supports another application. Where the application can be submitted to Land Registry electronically, the fee will be reduced to within the range of £20 to £80.

 Get in touch with the team today by clicking here.