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Residential Property & Conveyancing

Mann and Co > Residential Property & Conveyancing

We understand that buying, selling and remortgaging property can be a stressful time for you.  However, we feel that this need not be the case. 

 

 

Our qualified and experienced residential conveyancing team is here to help you every step of the way.  We provide a modern approach to this area of law and pride ourselves in being able to arm our clients with practical advice and unrivalled service.

 

Specialist Property Advice & Guidance In A Number Of Areas

 

We are able to offer specialist property advice and guidance in all of the following areas:

  • Purchases
  • Sales
  • Remortgaging
  • Transfer of Equity
  • Auction Sales and Purchases

 

We at Mann & Co believe in offering a tailored service to all of our clients, whether they are first time buyers, home movers involved in a chain or property investors with a large portfolio.    This means that our clients’ receive a personal and dedicated service and ensures that all their individual needs are met.

 

We offer an extremely efficient, professional and cost effective service to all our clients at very competitive rates.  The work carried out on your behalf will be carried out by qualified solicitors.  When you call us, or come and see us, to discuss your case you will have direct contact with the solicitor dealing with your matter.

 

Keeping You Informed

 

We keep our clients informed throughout the transaction and work with our clients to achieve their goals.  We are upfront with clients when it comes to the issue of costs and when we quote you for the cost of conveyancing services, you can rest assured that you will receive a full quote with no hidden surprises.

 

We add value as we are able to assist clients beyond the conveyancing process by referring clients to a panel of independent mortgage, insurance and lettings specialists who will be able to assist in meeting their needs before, during and after the transaction.

 

We value the service we provide to our clients and we are sure you will too.

 

For further information or a no obligation quote, please contact Mr Amardeep Mann (am@mannandco.net) or Mrs Bhaveni Patel (bp@mannandco.net) or call on 0121 555 7000.

 

Useful links for:

 

Buying
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/BuyingYourHome/DG_4001326

 

Selling
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/SellingYourHome/DG_186491

Residential Conveyancing Fees

 

The costs involved in conveyancing can vary dependent on a number of factors, for example the type of property, value, and whether or not the property is already registered at HM Land Registry or not.

 

The costs can be broken down into the fees that we charge, and then disbursements.  In addition there may be bank transfer fees and fees for completing forms on your behalf,  Details of all these are made below.

 

 

Residential Purchase

Typically, our fees will range from £500 plus VAT plus disbursements up to around £1,700 plus VAT.

 

For example, a purchase of an empty freehold registered property of around £100,000, our costs would be £500 plus VAT, plus the additional charges and disbursements set out below. Whereas a purchase of an unregistered property or a leasehold property for £2m would be £1,700 plus VAT.  Typically, fees are slightly higher for new build properties, unregistered properties and leasehold properties.

 

We are happy to give you a personalised estimate by phone or email – please get in touch.

 

Our fees cover all of the work required to complete the purchase of your new home or investment, 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.

 

In order to give you an indication of the costs, we can set out the likely costs on a purchase transaction.  These are based on the Land Registry’s data on an average price of a property in the UK, £230,000:

 

  • Legal Fee: £600 plus VAT
  • Search fees: £265 approximately – there being slight variations in fees charged by some local authorities compared to others – we can give you an exact figure in a personalised estimate
  • HM Land Registry fee: £135 if the property is already registered at HM Land Registry as an online submission discount is available.  The fee would payable to Land Registry is £270 if the property is currently unregistered.
  • Electronic money transfer fee: £30 inclusive of VAT
  • Completion of the Stamp Duty Land Tax Return: £84 inclusive of VAT
  • Land Registry Priority Search: £3 (per title)
  • Bankruptcy Search: £2 (per person)

 

Estimated total: £1,241

 

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.

 

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 6-10 weeks from receipt of contract and mortgage paperwork (if applicable), but can often be quicker.

 

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 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 8 to 10 weeks. In such, a situation additional charges would apply.

 

Stages of the process

 

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, we have set out the key stages below:

  • 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

 

This is not a binding estimate or quote.

 

Fees are based on individuals purchasing single freehold residential property, with or without lending.

 

If property is being purchased by a company rather than an individual then please contact us for a personalised estimate.

 

If you are borrowing any money from family/friends, then we will need to prepare additional documentation and check additional ID documents, then there will be an additional £100 plus VAT payable.

 

If the purchase is an auction purchase or there is bridging finance involved, there will be an additional £200 plus VAT payable.

 

  


 

Residential Sale

 

Typically, our fees will range from £500 plus VAT plus disbursements up to around £1,500 plus VAT.

 

For example, a sale of an empty freehold registered property of around £100,000, our costs would be £500 plus VAT, plus the additional charges and disbursements set out below. Whereas a purchase of an unregistered property or a leasehold property for £2m would be £1,500 plus VAT.  Typically, fees are slightly higher for unregistered properties and leasehold properties.

 

We are happy to give you a personalised estimate by phone or email – please get in touch.

 

Our fees cover all of the work required to complete the sale of your property.

 

In order to give you an indication of the costs, we can set out the likely costs on a sale transaction.  These are based on the Land Registry’s data on an average price of a property in the UK, £230,000:

  • Legal Fee: £600 plus VAT
  • Obtaining copy documents from Land Registry: £6 per title (and £3 per document for any further documents that are required)
  • Electronic money transfer fee: £30 inclusive of VAT

 

Estimated total: £756

 

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.

 

How long will my house sale take?

 

The length of time a sale transaction depends on a number of factors.  The average process takes between 6-10 weeks from issuing of contract and mortgage paperwork (if applicable), but can often be quicker.

 

It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a first time buyer,  and a mortgage has been agreed, it could take 4-6 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 8 to 10 weeks. In such, a situation additional charges would apply.

 

The precise stages of a sale include:

  • Take your instructions and give you initial advice
  • Obtain ID and deeds from you
  • Draft Contract papers and send to buyer’s solicitors
  • Receive enquiries from buyer’s solicitors
  • Obtain further information from you and reply to enquiries
  • Obtain redemption statement from your mortgage lender (if any)
  • 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
  • Receive money from buyer’s solicitors and complete sale
  • Pay off mortgage lender
  • Pay estate agents
  • Pay balance to you

 

This is not a binding estimate or quote.

 

Fees are based on individuals selling a single freehold residential property, with or without lending.

 

See our team of solicitors and their qualifications.

Get in touch today for Residential Property solicitor services. Call for representation 24 hours a day.

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