Residential Property

 

 

Buying or selling a property we understand your emotional involvement in a home is as important as your financial investment. We treat each client as an individual and every transaction as a priority.

We are able to deal with:-

• Sale and/ or purchase of freehold and leasehold properties, including buy-to-let
• Remortgages
• Right to buy
• Transfer of equity
• Freehold sale and purchases of land

We provide a comprehensive, professional service at a cost effective price. We discuss your requirements at the outset and keep you informed of every step of the way.  

At Greenstone Solicitors we give you peace of mind and the freedom to enjoy moving home.

Purchase of a freehold residential 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 purchase of a property up to £100,000

• Legal fee - £750.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• Search fees (Local Authority, Drainage and Coal Mining Search) - £240.00
• HM Land Registry fee £40.00 (prices vary dependant on purchase
• price of the property)
• Electronic money transfer fee £36.00
• Pre-completion Searches - £7.00 for a joint purchase (prices vary dependent on the number purchasers buying the property.
• ID Checks (Per person) - £8.00.

PLEASE NOTE THERE IS SOMETIMES A £15.00 HANDLING CHARGE BY THE SEARCH PROVIDER.

Estimated cost- £1096.00

Conveyancer's fees and disbursements for purchase of a property up to £200,000

• Legal fee - £830.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• Search fees (Local Authority, Drainage and Coal Mining Search) - £240.00
• HM Land Registry fee £230.00 (prices vary dependant on purchase
• price of the property)
• Electronic money transfer fee £36.00
• Pre-completion Searches - £7.00 for a joint purchase (prices vary dependent on the number purchasers buying the property.
• ID Checks (Per person) - £8.00.

Estimated cost- £1351.00

Conveyancer's fees and disbursements for purchase of a property up to £350,000

• Legal fee - £850.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• Search fees (Local Authority, Drainage and Coal Mining Search) - £240.00
• HM Land Registry fee £150 .00 (prices vary dependant on purchase
• price of the property)
• Electronic money transfer fee £36.00
• Pre-completion Searches - £7.00 for a joint purchase (prices vary dependent on the number purchasers buying the property.
• ID Checks (Per person) - £8.00.

Estimated cost- £1291.00

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. .

If you purchasing a Leasehold property, additional charges would apply and you would have to pay for the following anticipated disbursements
1.  Notice of Transfer fee - This fee if chargeable is set out in the lease.

2.  Notice of Mortgage Fee – (if the property is to be mortgaged) – This fee is set out in the Lease.

3.  Deed of Covenant Fee – This fee is provided by the management company for the property and can be difficult to estimate.

4.  Certificate of Compliance fee - To be confirmed upon receipt of the Lease.

 

Stages of the process for a purchase

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

Sale of a residential property

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

Conveyancer's fees and disbursements for sale of a property up to £80,000

• Legal fee - £480.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• ID Checks (Per person) - £7.20
• Office Copies & Title Plan - £7.20
• Electronic money transfer fee - £36.00

Estimated total: £530.40

Conveyancer's fees and disbursements for sale of a property between £80,000 - £350,000

• Legal fee - £600.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• ID Checks (Per person) - £7.20
• Office Copies & Title Plan - £7.20
• Electronic money transfer fee - £36.00

Estimated total: £650.40

Conveyancer's fees and disbursements for sale of a property between £350,000 - £500,000

• Legal fee - £700.00 inclusive of VAT (this will vary depending on the VAT rates set by the Government) 
• ID Checks (Per person) - £7.20
• Office Copies & Title Plan - £7.20
• Electronic money transfer fee - £36.00

Estimated total: £750.40

Leasehold

There are certain disbursements which will be set out in the individual Lease relating to the Property.

Anticipated Disbursements *

• Notice of Assignment fee – This fee if chargeable is set out in the Lease.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will need to apportion the ground rent and the anticipated service charge as soon as we agree a completion date.

Disbursements

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.

*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.

The precise stages involved in the sale 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
• Obtain Title Deeds
• Prepare and send contract documents to purchasers solicitors
• Waiting to hear from purchases solicitors for any enquiries they may wish to raise (if any)
• Dealing with any enquiries raised by the purchasers solicitors
• Receiving and approving the draft transfer
• Requesting redemption statement from your existing mortgage lender (if applicable)
• Send Contract and Transfer to you for signature
• Agree completion date (date from which you will sell the property)
• Exchange contracts and notify you that this has happened
• Request final redemption figure from your mortgage lender
• Complete sale

How long will my house sale take?
How long it will take from your offer being accepted until you sell 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 selling to a first time buyer, it could take 6-8 weeks. However, if there is a chain involved it will be longer

* Our fee assumes that:
a. 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

b. the transaction is concluded in a timely manner and no unforeseen complication arise

c. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

d. no indemnity policies are required. Additional disbursements may apply
if indemnity policies are required.

 

Mortgage/Remortgage of a freehold residential property

Our fees cover all of the work *  required to complete the mortgage/remortgage of your 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 mortgage/remortgage of a property up to £100,000

• Legal fee £420.00 plus VAT (this will vary depending on the VAT rates by the Government)
• Local Search fees £67.00 (Personal Search) £97.00 (Local Search) for Kirklees Council (prices may vary from Council to Council). Some Lenders allow borrowers to take out a No Search indemnity policy for remortgages where no Local/Personal Search is required.
• HM Land Registry fee £40.00
• Electronic money transfer fee £30.00 (IF APPLICABLE)
• Pre-completion Searches - £7.00 for a joint mortgagor (prices vary dependent on the number mortgagors of the property

Estimated total: £564.00

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 it will take from you receiving your mortgage offer being accepted until completion will depend on a number of factors. The average process takes between 4-6 weeks.

It can be quicker or slower, depending on the whether you have an existing mortgage on your property.

 

Stages of the process
The precise stages involved in the mortgage/re-mortgage 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
• Obtaining Title Deeds
• Obtaining Redemption statement from your existing mortgage lender (if
• applicable)
• Carry out searches
• Going through the conditions your mortgage offer
• Make any necessary enquiries
• Give you advice on all documents and information received
• Send final mortgage deed to you for signature
• Agree completion date (date from which you will mortgage/re-mortgage
• the property)
• Requesting final redemption figure from your mortgage lender
• Arrange for all monies needed to be received from lender and you
• Complete mortgage/re-mortgage
• Deal with registration formalities