Residential Property matters

Our services include :

• Buying and selling of residential property (both freehold and leasehold)

• Lease extension

• Share ownership property

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.

Conveyancer’s fees and disbursements

For a freehold purchase with the aid of mortgage for a purchase price not more than £300,000.00

• Legal fee £1,000 plus VAT(20%)
• Completing Stamp Duty Land Tax Return form fee £150.00 plus VAT
• Fee for acting on behalf of the mortgage lender £195.00 plus VAT
• Electronic Bank Transfer Fee £40.00 (per transfer) plus VAT
• Administrative fee, Postage and Anti Money Laundering check £120.00 plus VAT
• VAT £301.00
• Subtotal £1,806.00

Potential disbursements:

• Search fees £600.00 (depends on the location of the property and exact amount to be confirmed))
• HM Land Registry fee £150 (depends on the purchase price)
• Identity and bankruptcy check £15.00 (per person) plus VAT
• VAT £103.00
• Subtotal :£768.00

Estimated total (excluding Stamp Duty or Land Tax – see below): £2,574.00

 Anticipated additional disbursements for leasehold property : 

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

 - 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 £250 and £300.

 - Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50-£300.

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.

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.

For a freehold sale with mortgage for a sale price not more than £300,000.00.

• Legal fee £1,000 plus VAT(20%)
• Dealing with redemption £150.00 plus VAT
• Electronic Bank Transfer Fee £40.00 (per transfer) plus VAT
• Administrative fee, Postage and Anti Money Laundering check £120.00 plus VAT
• VAT £262
• Subtotal £1,572

Potential disbursements:

• Office copies : £20.00
• Identity and bankruptcy check £12.00 (per person) plus VAT
• VAT £3.00
• Subtotal :£38.00

Estimated total : £1,610.00

Anticipated additional disbursements for leasehold property : 

  - Sales pack fee —This fee is provided by the management company for the property and can be difficult to estimate.   Often it is between £300 and £400.

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.

Our fee for property value more than £300,000 as follows

Property value                   Our Fee (ex VAT)         VAT

£300,001-£400,000           £1,100.00                      £220.00

£400,001-£500,000           £1,200.00                      £240.00

More than £500,000          Please contact us for a quote

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

Stages of the process

For buying a property

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

For selling a property

 - Take your instructions and give you initial advice

 - Order title documentaiton

 - Preparing Fittings and Contents and Property information forms for you to complete.

 - Draft contracts and supporting documents are prepared r and sent to the buyer’s solicitor

 -  Attend any pre-contract enquiries raised by the buyer’s solicitor.

 - The redemption figures are obtained to ensure that any outstanding mortgage payments are redeemed on completion.

 - Proceed to exchange of contracts and a completion date agreed between the seller and buyer.

 - The seller’s solicitor approved the Transfer deed received by the buyer’s solicitor.

 - Keys are released to buyers on completion of the sale.

 - Pay the outstanding mortgage amount to redeem the mortgage

 - Pay the net proceeds of the sale to the seller.

Our Conveyance team

Mr Chun Man Law, a solicitor with more than 15-year experience

Mr Uchechukwu Ahamefuna Enekwa, a solicitor with more than 15-year experience.

Once your matter is assigned to a case handler, we will introduce you and provide their details.

Should you require further information, please feel free to contact our team on 020 375 6988.

Email : info@ksdsolicitors.co.uk

 The firm is authorised and regulated by the Solicitors Regulation Authority.(SRA No 8008750).

VAT Number : 176 0594 88

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