Conveyancing in your language
Conveyancing involves legally transferring home ownership from a seller to a buyer. It starts when an offer on a house is accepted and finishes when the buyer receives the keys.
Conveyancing can be a complex process because numerous checks regarding the property and the land that it is on need to be carried out. For example, rights of access, rights of way and any obligations to adhere to.
Peasegoods are experienced conveyancing specialists who will work quickly and accurately and we will do everything in our power to help your transaction go through in your timescale. We will keep you informed of progress in plain English.
Buying a house is probably the biggest purchase you will ever make, so choose Peasegoods and we’ll look after you every step of the way.
OUR TEAM
Rebecca Gibson – Solicitor with over 18 years experience of dealing with residential conveyancing and who has been with the practice since 2001.
Jack Bicknell, a paralegal.
Costs and Services
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.
Our costs for conveyancing are the same for the following types of residential property:
- Freehold sale or purchase
- Leasehold sale or purchase **
- Mortgages or re-mortgages
Fees:
- House sale £650 plus VAT of £130
- Flat sale £900 plus VAT of £180
- House purchase £750 plus VAT of £150
- Flat purchase £950 plus VAT of £190
- Re mortgage £550 plus VAT of £110
- New build House purchase £1000 plus VAT of £200
- Auction Sale or Purchase £1000 plus VAT of £200
-
Transfers/Deed of Gift £450.00 plus VAT of £90 with disbursements of £7 office copies and land registry fees (dependent on value of the property being transferred).
Disbursements for purchasing a property in Manchester:
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.
- Searches Pack which includes Local Search, Water Search, Coal Search and Environmental Search £330.02 inc VAT of £53.59
- Bankruptcy Search per person £6.00 plus VAT of £1.20
- Priority Search £7.00
- Lawyer Checker Fee £21.60 inc VAT of £3.60
- CHAPs fee £20.00 plus VAT of £4.00
- Land Registry Fee (dependent upon the purchase price)
- Stamp Duty (dependent upon the purchase price)
For leasehold properties 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.
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £60-£120 including VAT @20%.
- 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-£120 including VAT @20%.
- 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 £120-£180 including VAT @20%.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £60-£120 including VAT@20%
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.
*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.
** 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
- This is the assignment of an existing lease and is not the grant of a new lease
- 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.
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 6-8 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 4 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3-4 months. In such, a situation additional charges would apply.
Stages of the process for purchasing a freehold residential property
(The process for the leasehold residential property varies slightly)
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
- 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
• We’ll talk to you in plain English
• Simple and clear pricing and services
