John Street Solicitors > Legal services > JSS Pricing Conveyancing

JSS Pricing Conveyancing

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Conveyancing

Knowing what it’s going to cost is important.  Unless matters are unduly complex or more protracted than usual, we will typically work on a fixed fee basis for you.  There are many instances where it is difficult to advise you on fees, but we hope the fees and disbursements below give you a guideline of what can be charged.  If during the transaction, there are matters that are likely to give rise to an increase in fees, this will be discussed with you before any change takes place and you agree the fee review.

We work with a number of leading estate agents and introducers throughout England and Wales. The companies support us in a number of ways such as marketing our services, providing case tracking and update platforms, collecting initial payments and (in purchase transactions) ordering searches and sales progression. This support is a valuable support for us and in return we pay variable referrals fees to these companies, which are depended on the level of support they provide us with. The range of fees paid is between £100 and £600. This is a fee paid by us and is not an additional cost to you.

When purchasing a leasehold property there may be additional fees to pay such as landlords notice of assignment fees and the like.  We will confirm the amount, if any, to you once we are made aware of the exact details during the course of the Conveyancing but an average charge made by a landlord or management company is in the region of £200.00+£40 (VAT).

Disbursements

Disbursements are costs relating to your matter that are payable to third parties such as the Land Registry or search providers.  We will deal with the payment of disbursements on your behalf as part of the conveyancing process.

The fees may be subject to change if further information relating to your property becomes available, for example if you require additional searches such as a coal mining search or a tin mining search.

– Searches

A typical search pack which will include an environmental search, a drainage search, a Local Authority search and a local planning search will total £204 inc VAT.

– Land Registry Fees

There will be a requirement to undertake a Land Registry search at the fee of £3.00.

A bankruptcy search fee will be charged at £1.00 per name of each buyer.

These are payable to the Land Registry and are based on the value of the property.  We have agreed with the Land Registry to use the electronic portal or gateway (see column three) which makes it cheaper for the client and a table of fees is set out below for you.

Stamp Duty Land Tax

This disbursement very much depends on many factors not least the purchase price of the property. You can calculate the amount you will need to pay by using HMRC’s website and if the property is located in Wales by using the Welsh Revenue Authority’s website.

HMRC Tax links can be found here: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Welsh Tax links can be found here: https://beta.gov.wales/land-transaction-tax-calculator

Our guideline figures for a freehold Sale of property:

Our guideline figures for a freehold sale are set out follows:-

 

Leasehold properties will incur an additional £200+£40 (VAT) in addition to the figures above.

Disbursements on a sale

 

Our guideline figures for a remortgage of a freehold property

Our guideline figures for a freehold remortgage are set out follows:-

 

Leasehold remortgage properties will incur an additional £200+£40 (VAT) in addition to the figures above.

Disbursements on a remortgage.

 

Land Registry fee to register new mortgage:

Our guideline figures for an equity release of freehold property
Our guideline figures for a freehold equity release are set out follows:-

 

Leasehold properties will incur an additional £200+£40 (VAT)in addition to the figures above.
Disbursements for an equity release freehold property.

 

Land Registry fees to register new mortgage:-

 

 

What other fees could be incurred at Glanvilles

Our fees are fixed, however, there may be factors which would typically increase the cost of matter.

Where this is likely to be an additional cost we will make sure we inform you at the earliest opportunity and an estimate of those extra costs will be provided.  To give you more information on guideline fees for additional work, please see the list of additional fees below.  Whilst these fees are not exhaustive, we hope this gives you an idea of what else may be reasonably charged for.

Assumptions

It is only right to advise that our fee assumes that:-

  • The matter will be a standard residential conveyancing and no unforeseen matters arise, including but not limited to a defect in the title which requires remedying prior to completion or preparation of additional documents ancillary to the main transaction.
  • The transaction is concluded in a timely manner and no unforeseen complication arises.
  • All parties to the transaction are cooperative and there is no unreasonable delay in third parties providing documentation or services.
  • Once instructed, your instructions to us do not change in a material way.  An example of a material change would be that you instruct us that you are buying a property in your sole name but, after we are instructed, you decide to purchase the property jointly with a spouse or some other person.

Exclusions

We do not undertake tax advice, with the exception of reporting and paying the stamp duty on a property transaction.

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  • 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, we have previously requested from you have not been provided to us
  • If the property is a new build
  • If any of  the additional items set out above are required

Timescales

On any transaction, the timescales are subject to change depending on many many factors such as mortgage offers, searches, parties within the chain and so on.  The average transaction takes between eight to ten weeks.  It can be slower or quicker, and the following situations may give you an idea of timing scenario’s :-

  1. For a first time buyer purchasing a brand new property with a mortgage in principle it could take 8 weeks if the property is ready for occupation.
  2. If you are buying a leasehold property that requires an extension to the Lease and raising enquiries from the Landlord or another third party, it can take significantly longer and between 10 – 16 weeks.
  3. If you are buying and selling a property and there is a chain of say three or four requiring mortgages and searches, this may typically take between 8 – 12  weeks.
  4. The average mortgage takes between five and six weeks to be issued from the date of application.
  5. Local Authority searches and enquiries on a purchase can take around five weeks.

Below are the key stages of a sale/purchase matter which we hope to prove useful.

 

Contracts Exchanged

 

Completion/Moving Date