• Doncaster

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    01909 500 511
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    01246 810 050
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Residential Conveyancing – Range of Costs

At Foys, we deal with a variety of Residential Conveyancing matters including registered and unregistered Freehold and Leasehold sales and purchases, transfers and re-mortgages. We are on the panel for many lenders and can also act on behalf of the lender in the majority of cases. Example stages of the process, timescales and fees are listed below.

Registered Freehold Purchase

Stages of the Process

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

  • Take your instructions and give you initial advice
  • Check finances are in place to fund the purchase and contact the lenders solicitors if needed
  • Receive and advise on contract documentation
  • Carry out searches
  • Obtain further planning documentation if required
  • Give you advice on all documents and information received
  • Go through the conditions of your mortgage offer
  • Send final contract documentation to you for signing
  • Draft the Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • Agree a completion date (the 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 the lender and you
  • Complete the purchase
  • Deal with the payment of Stamp Duty Land Tax
  • Deal with the application for registration at the Land Registry

The Legal Choices Webpage gives further information regarding the house buying and selling process.

Costs

Our fees cover all of the work required to complete the purchase of your new home including dealing with the registration at the Land Registry, dealing with the Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales and acting for your mortgage lender if required and if we are on their panel. Our costs are dependant on the property value, the complexity of the transaction and also the location of the property. An estimated range of fees is listed below

Cost for Freehold Purchase

* Stamp Duty – Stamp Duty depends on the purchase price of the property. Higher Rate Stamp duty is also payable on 2nd homes over the price of £40,000.00. A calculator for stamp duty fees can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
* Land Registry – Our estimate is based on the property being registered and registration being available on the online portal. A calculator for Land Registry fees can be found at http://landregistry.data.gov.uk/fees-calculator.html

DISBURSEMENTS – these are costs related to your matter that are payable to third parties such as Land Registry fees. We will handle payment of these on your behalf to ensure a smoother process. The most common disbursements are included in our quote. However this is not an exhaustive list and will vary. We will update you on specific fees once we become aware of them.

REFER – For properties above the value of £500,000.00, please contact us by telephone or email for a specific quotation.

REFERAL FEES – on some transactions a referral fee will be payable to the party who has referred you to us. This will be deducted from our fees and will be of no additional cost to you.

Our fees assume that:

  • This is a standard transaction and 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 complications 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 freehold purchase take?

This type of transaction usually takes around 8-10 weeks to complete. However, we must be satisfied with the title, any searches, any replies to enquiries. If there is a lender, we must also hold a mortgage offer and have satisfied all their requirements before we will proceed to exchange of Contracts.

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 14-16 weeks.

Registered Freehold Sale

Stages of the Process

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

  • Take your instructions and give you initial advice
  • Download the Title and documents from Land Registry
  • Draft the Contract documentation
  • Check whether there is a mortgage to pay off and request any redemption figures from the lender
  • Await enquiries and deal with the same
  • Give you advice on signing the contract documentation
  • Provide a completion statement
  • Agree a completion date (the date from which you no longer own the property)
  • Exchange Contracts and notify you that this has happened
  • Complete the sale
  • Pay off any mortgages and transfer the balance monies to you

The Legal Choices Webpage gives further information regarding the house buying and selling process https://www.legalchoices.org.uk/legal-choices/got-a-legal-issue/houses/im-buying-or-selling-a-house/

Costs

Our fees cover all of the work required to complete the sale of your new home including redemption of any mortgages or loans on your behalf. Our costs are dependant on the property value, the complexity of the transaction and also the location of the property. An estimated range of fees is listed below

Costs for Registered Freehold Sales

Office Copies – Each individual document downloaded from Land Registry is charged at £6.00. Therefore, if the property has 2 Titles, a Lease, Transfer documents etc listed, these will also need to be downloaded and will incur extra charges.
REFER – For properties above the value of £500,000.00, please contact us by telephone or email for a specific quotation.
REFERAL FEES – on some transactions a referral fee will be payable to the party who has referred you to us. This will be deducted from our fees and will be of no additional cost to you.

Our fees assume that:

  • This is a standard transaction and 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 complications 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 freehold sale take?

This type of transaction usually takes around 8-10 weeks to complete due to the fact that the purchasers solicitors must be satisfied with the Contract, Title, any mortgage offers and additional searches before they will be in a position to complete.

It can be quicker or slower, depending on the parties in the chain. For example if you are selling an empty property, with nothing further to buy and your purchaser isn’t having a mortgage or searches, it could take 4-6 weeks.

Registered Leasehold Purchase

Stages of the Process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have listed some key stages.

  • Take your instructions and give you initial advice
  • Check if there are any mortgages to be paid off and contact the lender for a redemption figure
  • Draft Contract documentation
  • Obtain the Lease and check any landlord/management company stipulations
  • Send final contract documentation to you for signing
  • Provide a completion statement
  • Agree a completion date
  • Exchange Contracts and notify you that this has happened
  • Complete the purchase
  • Redeem any mortgages or loans and transfer the balance to you

The Legal Choices Webpage gives further information regarding the house buying and selling process https://www.legalchoices.org.uk/legal-choices/got-a-legal-issue/houses/im-buying-or-selling-a-house/

Costs

There are additional costs involved on Leasehold properties. We will add £100 plus VAT to £250 plus VAT to our standard fees listed above depending on the type of transaction. For example, a Leasehold house may be £100 plus VAT but a flat could be and extra £250 plus VAT. We can give you a full quote once we have details of the property and transaction.

Our fees assume that:

  1. This is the assignment of an existing Lease and is not the grant of a new Lease.

There are also extra disbursements involved in Leasehold properties. An example of these is as follows*:

Notice of Transfer Fee – This fee is chargeable as set out in the Lease and can be anything between £10.00-£200.00.

Notice of Charge Fee (if the property is to be mortgaged) – This fee is again set out in the Lease and can be anything between £10.00-£200.00.

Deed of Covenant Fee – This fee is provided by the management company for the property and can be difficult to estimate. It is often between £100.00-£300.00

Certificate of Compliance fee – This will be confirmed to you upon receipt of the Lease and can range between £100.00-£500.00

Stock Transfer Fee – This is the fee payable for you to become a member of the Management Company if required and we will confirm this to you upon receipt of the information.

* The above disbursements vary from property to property and can on occasion be significantly more that 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 anticipated service charge once we receive this information.

How long will my Leasehold Purchase take?

This type of transaction usually takes 10-14 weeks to complete. However, we must be satisfied with the title, any searches, the Leasehold requirements, and any replies to enquiries. If there is a lender, we must also hold a mortgage offer and have satisfied all their requirements before we will proceed to exchange of Contracts.

It can be quicker or slower, depending on the parties in the chain. For example if you are purchasing a Leasehold property which requires an extension of the Lease, it can take significantly longer, around 3-5 months at times. In such a situation additional charges would apply.

Registered Leasehold Sale

Stages of the Process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have listed some key stages.

  • Take your instructions and give you initial advice
  • Download the Title documents and Lease from the Land Registry
  • Draft the Contract documentation
  • Check whether there is a mortgage to pay off and request any redemption figures from the lender
  • Await enquiries and deal with the same
  • Give you advice on signing the contract documentation
  • Provide a completion statement
  • Agree a completion date (the date from which you no longer own the property)
  • Exchange Contracts and notify you that this has happened
  • Complete the sale
  • Pay off any mortgages and transfer the balance monies to you

The Legal Choices Webpage gives further information regarding the house buying and selling process https://www.legalchoices.org.uk/legal-choices/got-a-legal-issue/houses/im-buying-or-selling-a-house/

Costs

There are additional costs involved on Leasehold properties. We will add £100 plus VAT to £250 plus VAT to our standard fees listed above depending on the type of transaction. For example, a Leasehold house may be £100 plus VAT but a flat could be and extra £250 plus VAT. We can give you a full quote once we have details of the property and transaction.

Our fees assume that:

  1. This is the assignment of an existing Lease and is not the grant of a new Lease.

How long will my Leasehold Sale take?

This type of transaction usually takes 10-14 weeks to complete. However, the buyers solicitors must be satisfied with the title, any searches, the Leasehold requirements, and any replies to enquiries. If there is a lender, they must also hold a mortgage offer and have satisfied all their requirements before they will proceed to exchange of Contracts.

It can be quicker or slower, depending on the parties in the chain. For example if you are selling a Leasehold property which requires an extension of the Lease, it can take significantly longer, around 3-5 months at times. In such a situation additional charges would apply.

Mortgages/Remortgages

Stages of the Process

The precise stages involved in the re-mortgage of a residential leasehold property vary according to the circumstances. However, below we have listed some key stages.

  • Take your instructions and give you initial advice
  • Check finances are in place to fund the re-mortgage and contact the lenders solicitors if needed
  • Receive the mortgage funds and pay off any existing mortgage
  • Carry out searches if required
  • Check the Lease and requirements if required
  • Go through the conditions of your mortgage offer
  • Advise you on joint ownership if required
  • Obtain pre-completion searches
  • Agree a completion date ( the date that the new lenders charge will begin)
  • Arrange for all monies needed to be received from the lender and you
  • Complete the re-mortgage
  • Deal with the application for registration of the new mortgage at the Land Registry
  • Deal with any Leasehold requirements including serving notice on the Landlord

Costs

Our costs for a re-mortgage range from £250 plus VAT to £500 plus VAT and will be dependant on property value, the complexity of the transaction, the location of the property and which lender is involved. We can give you a full quote once we have details of the transaction and property. Some lenders for example require full searches and a full report to them before they will release any funds, whilst other lenders simply require you to confirm that you are happy that their security is protected.

Our Fees assume that:

  1. This is a standard transaction and 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. The transaction is concluded in a timely manner and no unforeseen complications arise.
  3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
  4. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

If the property is Leasehold, there will also be Lease requirements to satisfy. Notice of charge will need to be served on the Landlord and there may be other requirements listed in the Lease. We can give full details of these and the costs involved once we have sight of the Lease.

How long will my Re-Mortgage take?

This type of transaction usually takes 2-8 weeks to complete. However, we must be satisfied with the title, any searches, the Leasehold requirements, and any lender requirements.

It can be quicker or slower, depending on the lender and the property title. For example some lenders require full official searches which can take up to 6 weeks and some require an indemnity policy to cover searches which can be put in place immediately.

The Team

Our Conveyancing team has over 40 years of experience and work is carried out over 7 offices. We have 1 office in Doncaster, 2 offices in Sheffield (Crystal Peaks and Chapletown), 1 office in Retford, 1 office in Worksop, 1 office in Rotherham and 1 office in Clowne. Regardless of who works on your matter, they will be supervised by Andrew Chatterton, Partner and Head of Conveyancing.

Andrew Chatterton – Andrew has over 35 years experience as a Solicitor and has been Head of the Conveyancing Department for the past 6 years. He is also a Partner of the firm and has been for the past 13 years. Andrew is based at our Doncaster office and deals with residential conveyancing matters.

The below named persons are the ones who handle files in our Conveyancing Department:

Ben Couch – Ben has 10 years experience in Conveyancing and has been a qualified solicitor for 8 years. He deals with both residential and commercial matters.
Claire Lindley – Claire is a Chartered Legal Executive and has been qualified for over 20 years with over 23 years in Conveyancing. Claire deals with all areas of residential Conveyancing.
Heather Ames – Heather has 17 years of experience in Conveyancing and runs a varied caseload covering all aspects of residential Conveyancing.
Derith Hood – Derith has been working in Conveyancing for over 40 years. She is a Legal Executive who deals with both residential and commercial matters. She deals with large developers on new build projects and also has experience in company and bankruptcy issues.
Hannah Edgley – Hannah has worked in Conveyancing for 14 years and began fee earning a year ago. She now confidently handles sales, purchases, re-mortgages and transfer files.
Dayne Bailey-Mayfield – Dayne has over 8 years experience in Conveyancing and has been handling her own files for 7 years. She has recently qualified as a Licenced Conveyancer and deals with all areas of Residential Conveyancing.
Dorothy Stokoe – Dorothy has 44 years experience in Conveyancing and deals with all areas of Residential Conveyancing.
Donna Thomas – Donna has approximately 10 years experience in Conveyancing and deals with sales, purchases, re-mortgages and transfers.
Catherine Hitchen – Catherine has over 30 years experience in Conveyancing and deals with all aspects of Residential Conveyancing.
Joanne Ramsbottom – Joanne qualified as a Legal Executive over 40 years ago and deals with all aspects of Residential Conveyancing as well as boundary disputes, Commercial Conveyancing and purchases of woodland.
Steven Dixon – Steven is a qualified solicitor with 35 years experience. He specialises in residential Conveyancing and private client matters
Donna Norman – Donna has 28 years experience in Conveyancing and deals with all areas of Residential Conveyancing.
Jayne Snowden – Jayne has approximately 20 years experience in Conveyancing and deals with all areas of Residential Conveyancing.