SRA PRICING TRANSPARENCY

Petherbridge Bassra
Client Information Sheet: Conveyancing Services

Introduction

As part of our professional rules, we aim to ensure that anyone wishing to use our services has the information they need to make an informed choice of legal services provider, including understanding what the costs may be.

 

Why instruct Petherbridge Bassra Solicitors?

Here at Petherbridge Bassra we understand how buying and selling a property is traditionally seen as one of the most stressful times in a person’s life. We therefore aim to make this as straightforward and as smooth a process as possible. We avoid legal jargon and offer our clients clear professional advice from lawyers with a wealth of experience gained over many years in the field of conveyancing.

 

As an accredited member of Law Society Conveyancing Quality Scheme, we offer high quality, friendly and efficient service, being the link in the chain keeping all parties informed and up to date throughout the conveyancing process.

 

As a conveyancing client of PB you will benefit from having the same designated conveyancer throughout the process from start to finish, thereby avoiding the “call centre chase” experienced when instructing a firm dealing in high volume conveyer belt conveyancing.

 

Purchase of a Property

Our Fees and Anticipated Disbursements

 

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.

 

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. The disbursements which we anticipate will apply are also out separately below.


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Please note that VAT is currently 20%


Additional Fees

Unregistered Property    £100.00 + VAT

Leasehold Property     £250.00 + VAT

Acting for Lender     £100.00 + VAT

Arranging Indemnity Policy     £50.00 + VAT

Gifted Deposit    £100.00 + VAT

ISA Fee      £50.00 + VAT

Dealing with Third Party or Overseas Clients    £50.00 + VAT

Statutory Declaration    £100.00 + VAT

New Build Property    £250 + VAT
 

Potential 3rd Party costs if buying a Leasehold
 

  • Notice of Transfer & Charge fee – This fee is payable to and set by the Landlord.

  • Deed of Covenant fee – This fee is payable to and set by the Landlord.

  • Certificate of Compliance fee - This fee is payable to and set by the Landlord.

 

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 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 6-12 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 3 and 6 months. In such, a situation additional charges would apply.

What is not included?

We do not report on structural survey’s which are outside our area of expertise
 

Key stages involved

The precise stages involved in the purchase of a residential property vary according to the circumstances.

 

  • 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

  • Advise you on joint ownership

  • 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

     

Our fee assumes that:

  • 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

  • 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.

Factors that would typically increase the cost of the service

  • Legal title is defective

  • if you discover building regulations or planning permission has not been obtained

  • if crucial documents you have previously requested from the client have not been provided
     

Sale of a Property

Our Fees & Anticipated Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry Official Copies. We handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements which we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply.

Please note that VAT is currently 20%

What is included?

Obtaining mortgage redemption statement and redeeming the mortgage on completion.

Settling the Estate Agents Invoice on completion.

What is not included?

Additional fees of £50 plus VAT for obtaining any Indemnity policies requested by the buyer’s solicitors.

How long will my house sale take?

How long it will take from the offer being accepted until the transaction is completed depends on a number of factors. The average process takes between 6-12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you have a first time buyer, it would normally reduce the time taken. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would also apply.

Key stages involved

  • Take instructions and give initial advice

  • Obtain official copies of the Land registry title

  • Supply the protocol documents to be completed by the vendor

  • Draft the contract and collate the documents for the contract pack

  • Send the contract and protocol documents to the buyer’s solicitor

  • Forward enquiries raised by the buyer to the client

  • Answer legal enquiries raised by the buyer

  • Obtain redemption statements

  • If required obtain indemnity Insurance quotation

  • Approve the transfer document

  • Obtain agent’s invoice

  • Draft completion statement and send to client

  • Send the transfer document and contract to client for signature

  • Agree completion date

  • Exchange contracts

  • Obtain agent’s invoice

  • Complete on sale

  • Redeem mortgage

  • Settle estate agents’ invoice

  • Forward property documents to buyer’s solicitor

  • Forward completion funds to clients nominated account

Remortgage of a Property

Our Fees

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Please note that VAT is currently 20%.

What is included?

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. The disbursements which we anticipate will apply are set out separately below.

 

  • HM Land Registry fee: variable dependant on the property purchase price

  • Search fees: £195.00 for standard search pack required by your lender

  • VAT on search fees

  • Electronic money transfer fee: £30 for Chaps £25 BACS

How long will my remortgage take?

A typical remortgage takes between 6 and 8 weeks, however, it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.

Key stages involved

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

 

  • Taking your instructions and giving initial advice based on the information you have provided

  • Requesting the Title Deeds and Redemption Statement

  • Obtaining & checking Official Copies of the Title

  • Leasehold properties will require the lease to be checked and enquiries made if relevant

  • Ordering searches/search insurance

  • Checking the mortgage offer

  • Requesting the mortgage advance

  • Completion

  • Registration

Transfer of Equity

Our Fees

Please note that VAT is currently 20%

What is included?

Possible mortgage redemption.

What is not included?

Advising client on separation or balance transfers to outgoing party

How long will my transfer of equity take?

A typical transfer takes between 6 and 8 weeks.

Key stages involved

  • Taking clients instructions

  • Contacting party going on/off the property

  • Obtaining official copies of the title

  • Drafting the transfer deed

  • Sending the transfer deed to the parties

  • Completing a certificate of valuation

  • Drafting Land registry application forms

  • Submitting the land registry application

Our Conveyancing Team

Hayley Bendig

Conveyancing Team Leader

A Conveyancing specialist fee earner who has over 14 years’ experience of dealing with all Conveyancing matters.

E-mail: Hayley@birdanddaniels.com 

Tel: 01274 580999

Leanna Thorpe

Conveyancing Specialist

A Conveyancing specialist fee earner who has over 15 years’ experience of dealing with all Conveyancing matters.

E-mail: Leanna@birdanddaniels.com

Tel: 01274 580999

Last update: April 2021