SRA PRICING TRANSPARENCY

INFORMATION TO CLIENTS: CONVEYANCING

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

 

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.

Additional Fees

 

Unregistered Property

Leasehold Property

Acting for Leander

Arranging Indemnity Policy

Gifted Deposit

Dealing with Third Party or Overseas Clients

Statutory Declaration

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. 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.

 

  • 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: £36 for Chaps £25 BACS

  • VAT 20%

  • Subtotal: £X

 

Anticipated Disbursements*

 

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100 -£200

  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £150

  • 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 £50 and £200.

  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50-£200.

 

*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 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 8-12 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

  • Draft Transfer (if Leasehold purchase)

  • Advise you on joint ownership (if Leasehold purchase)

  • Obtain pre-completion searches (if Leasehold purchase)

  • 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:

 

  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.

 

Factors that would typically increase the cost of the service

 

  • 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 you have previously requested from the client have not been provided

SALE OF A PROPERTY

Our Fees

£100.00 + VAT

£100.00 + VAT

£100.00 + VAT

£50.00 + VAT

£100.00 + VAT

£50.00 + VAT

£100.00 + VAT

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.

 

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 buyers 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 agents invoice

  • Draft completion statement and send to client

  • Send the transfer document and contract to client for signature

  • Agree completion date

  • Exchange contracts

  • Obtain agents invoice

  • Complete on sale

  • Redeem mortgage

  • Settle  estate agents’ invoice

  • Forward property documents to buyers solicitor

  • Forward completion funds to clients nominated account

 

 

 

TRANSFER OF EQUITY

 

Our Fees

What is included?

 

Possible mortgage redemption.

 

What is not included?

 

Advising client on separation or balance transfers to outgoing party.

 

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

 

Leanna Thorpe LLB (Hons)

Fee Earner

A Conveyancing specialist fee earner who has over 15 years’ experience of dealing with Conveyancing and property matters as well as elderly client matters.

Prior to studying Law Leanna was a mortgage adviser for 13 years for one of the major high street lenders.

 

E-mail: Leanna@petherbridgebassra.com 
Telephone: 01274 580999

 

 

Katie Senior

Paralegal

A paralegal who has over 4 years’ experience.

 

E-mail: Katie@birdanddaniels.com 
Telephone: 01274 580999

 

Last update: December 2018 (Subject to change without prior notification)

Part of The Petherbridge Bassra Group

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BRADFORD OFFICE

Vintry House,

18-24 Piccadilly,

Bradford,

BD1 3LS

 

Tel: 01274 724114

Fax: 01274 724161

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SHIPLEY OFFICE

34 Westgate,

Shipley,

West Yorkshire,

BD18 3QX

 

Tel: 01274 580999

Fax: 01274 595715

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Petherbridge Bassra Solicitors Limited is a Company registered in England and Wales under Company Number 9049249. The registered office is Vintry House, 18-24 Piccadilly, Bradford BD1 3LS. A list of Directors is open to inspection at the registered office. The Company is authorised and regulated by the Solicitors Regulation Authority (SRA) as a licensed body law practice under number 613817. ‘Petherbridge Bassra’, ‘Opus Law’, ‘Brimble & Co’, ‘Bird & Daniels’ and ‘SH Dad & Co’ are trading names of Petherbridge Bassra Solicitors Limited.