MAG Solicitors - specialists in all aspects of residential conveyancing. Committed to making the process of buying or selling your home as simple as possible.
'Conveyancing is the buying and selling of property, and also includes converting leasehold property to freehold property, gifting property and applications for first registration of title deeds.'
Selling or buying a new home can be a very stressful time for anyone, but we are here to make it as stress-free as we can for you. Helping you through the various stages involved in this process liaising with the other party before contract signing and before and after completion.
The process involves the other party securing title to the land together with all the rights that run with the land. We will work with you to help secure your deeds and also to make sure that the process of exchanging goes as easily as it can. We are with you though the steps to help you secure the sale and/or purchase of your property.
Give us a call for more information on 01902 244 150 or e-mail us at info@magsolicitors.co.uk.
Residential Property Conveyancing
MAG Solicitors specialise in dealing with most aspects of residential conveyancing. We are able to offer you practical advice needed to make informed decisions about your transaction and are committed to making the process of buying or selling your home as simple as possible. We aim to provide our clients with the highest level of professional service and are able to assist with any of the following matters:
Buying and Selling Freehold/Leasehold property (Registered/Unregistered)
Conveyancing relating to probate
Right to Buy
First registration of unregistered land
Deed of Guarantee
Occupiers consent form
Gifting of property
Lease extensions
Transfer or release of equity
Property Trust Deeds
AST Agreements
Voluntary first registration
Title rectification
Our Conveyancing Fees
These fees below vary depending on the purchase or sale price of the property. There are Mandatory disbursements that apply to your matter while are listed below. Additional Disbursements are listed below too and only apply to your legal costs if they are applicable to your matter. Once we have had sight of your specific documents we can advise you if your property needs more than the standard legal work and we can give you a more tailored figure at that time should it be required. We will also inform you if an additional charge becomes applicable during the course of your matter.
Stages of the residential purchasing process
The precise stages involved in the purchase of a residential property vary according to your circumstances however we highlight some of the key stages below:
Take your instructions and give you initial advice
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
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 you
Complete purchase
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry
Legal Fees - Freehold Purchase
|
Purchase Price |
Legal Fee |
VAT |
Estimated Total (Excluding Disbursements) |
|
Up to £200,000 |
£900.00 |
£180.00 |
£1,080.00 |
|
£200,001 - £400,000 |
£1,000.00 |
£200.00 |
£1,200.00 |
|
£400,001 - £600,000 |
£1,100.00 |
£220.00 |
£1,320.00 |
|
£600,001 - £800,000 |
£1,200.00 |
£240.00 |
£1,440.00 |
|
£800,001 + |
£1,300.00 |
£260.00 |
£1,560.00 |
Legal Fees - Leasehold Purchase
|
Purchase Price |
Legal Fees |
VAT |
Estimated Total (Excluding Disbursements) |
|
Up to £200,000 |
£1,000.00 |
£200.00 |
£1,200.00 |
|
£200,001 - £400,000 |
£1,100.00 |
£220.00 |
£1,320.00 |
|
£400,001+ |
£1,200.00 |
£240.00 |
£1,440.00 |
Expected Disbursements (Estimated)
|
Disbursement |
Fees |
|
Searches |
£300.00 approx. |
|
HM Land Registry Fee |
£95.00 - £135.00 |
|
Bankruptcy & Official Search |
£13.00 |
|
Anti-Money Laundering Fee |
£30.00 (inc. VAT) Per Person |
|
Bank Transfer Charge |
£30.00 (inc. VAT) |
|
Stamp Duty Portal |
£30.00 |
|
Credit Check |
£5.00 Per Person |
|
Lender Exchange Fee |
£10.00 |
|
Acting for Mortgage Lender |
£120.00 (inc. VAT) |
|
Management Company (Leasehold) |
£180.00 (inc. VAT) |
Conditional Disbursements
|
Disbursement |
Fees (all inc. VAT) |
|
Dealing with Third Party Funding or Gifts |
£60.00 |
|
Dealing with New Build Property |
£180.00 |
|
Help to Buy Equity Loan (First Time Buyer) |
£60.00 |
|
Dealing with an Auction Property |
£120.00 |
|
Dealing with Shared Ownership Property |
£120.00 |
|
Help to Buy ISA Bonus |
£60.00 |
|
First Registration of Title (Voluntary & Unvoluntary) |
£1,080.00 |
|
Bank Charges |
£30.00 |
|
Service of Notices (Transfer/Charges) |
£90.00 |
|
Deed of Covenent |
£90.00 |
|
Deeds of Variation |
£90.00 |
|
Certificate of Compliance |
£90.00 |
|
Share Compliance/Stock Transfer Form |
£90.00 |
|
Drafting or Approving a Statutory Declaration |
£60.00 |
|
Prchase of Freehold Reversion (House or Flat) |
£1,080.00 |
Stages of the residential sale process
The precise stages involved in the sale of a residential property vary according to your circumstances however we highlight some of the key stages below:
Take your instructions and give you initial advice
Send out contract documentation to the buyer's solicitors
Answer applicably any enquiries raised
Send final contract to you for signature
Agree completion date
Exchange contracts and notify you that this has happened
Complete sale
Discharge of mortgage, if applicable.
Arrange for all monies to be sent to you
Legal Fees- Freehold Sale
|
Sale Price |
Legal Fee |
VAT |
Office Copies |
Estimated Total (Excluding Disbursements) |
|
Up to £200,000 |
£900.00 |
£180.00 |
£14 - £21 |
£1,101.00 |
|
£200,001 - £400,000 |
£1,000.00 |
£200.00 |
£14 - £21 |
£1,221.00 |
|
£400,001 - £600,000 |
£1,100.00 |
£220.00 |
£14 - £21 |
£1,341.00 |
|
£600,001 - £800,000 |
£1,200.00 |
£240.00 |
£14 - £21 |
£1,461.00 |
|
£800,001+ |
£1,300.00 |
£260.00 |
£14 - £21 |
£1,581.00 |
Legal Fees - Leasehold Sale
|
Sale Price |
Legal Fee |
VAT |
Office Copies |
Estimated Total (Excluding Disbursements) |
|
Up to £200,000 |
£1,000.00 |
£200.00 |
£14 - £21 |
£1,221.00 |
|
£200,001 - £400,000 |
£1,100.00 |
£220.00 |
£14 - £21 |
£1,341.00 |
|
£400,001+ |
£1,200.00 |
£240.00 |
£14 - £21 |
£1,461.00 |
Expected Disbursements (Estimated)
|
Disbursements |
Fees |
|
Bank Transfer Charge |
£30.00 (inc. VAT) |
|
Credit Check |
£5.00 Per Person |
|
Dealing with Mortgage Redemption |
£60.00 (inc. VAT) |
|
Management Company (Leasehold) |
£180.00 (inc. VAT) |
Conditional Disbursements
|
Disbursements |
Fees (all inc. VAT) |
|
Redeeming HTB |
£60.00 |
|
Bank Charge |
£30.00 |
|
Arranging/Approving Indemnity Insurance |
£60.00 |
|
Drafting or Approving Statutory Declarations |
£60.00 |
|
Registrations, Cancellation or Modification of Caution/ Restriction |
£60.00 |
|
Deeds of Variation |
£75.00 |
|
Dealing with New Build Property |
£60.00 |
|
Dealing with Shared Ownership Property |
£120.00 |
|
Dealing with Third Parties (Law Firms or external to Transaction) |
£50.00 |
|
Dealing with Unregistered Property |
£120.00 |
|
Dealing with Auction Property |
£120.00 |
|
Ordnance Survey |
£24.00 |
Other Conveyancing Matters
|
Type of Matter |
Legal Fee |
VAT |
Estimated Total (Excluding Disbursements) |
|
Right To Buy |
£895.00 |
£179.00 |
£1,074.00 |
|
Transfer of Equity |
£695.00 |
£139.00 |
£834.00 |
|
Assent |
£595.00 |
£119.00 |
£714.00 |
|
Remortgage |
£895.00 |
£179.00 |
£1,074.00 |
|
Notice of Severance |
£150.00 |
£30.00 |
£180.00 |
|
Sale of Part |
£1,000.00 |
£200.00 |
£1,200.00 |
|
Sale of Land and Transfer of Part |
£1,200.00 |
£240.00 |
£1,440.00 |
|
Estimated Disbursements (if Applicable) |
Fees |
|
Searches |
£300.00 approx. |
|
Office Copies |
£14 - £21 |
|
HM Land Registry Fee |
£95.00 - £135.00 |
|
Bankruptcy & Official Search |
£13.00 |
|
Anti-Money Laundering Fee |
£30.00 (inc. VAT) Per Person |
|
Bank Transfer Charge |
£30.00 (inc. VAT) |
|
Stamp Duty Portal |
£30.00 (inc. VAT) |
|
Credit Check |
£5.00 Per Person |
|
Lender Exchange Fee |
£10.00 |
|
Acting for Mortgage Lender |
£120.00 (inc. VAT) |
|
Redeeming Help To Buy |
£60.00 (inc. VAT) |
|
Bank Charge |
£30.00 (inc. VAT) |
|
Arranging or Approving Indemnity Insurance |
£60.00 (inc. VAT) |
|
Drafting or Approving Statutory Declarations |
£60.00 (inc. VAT) |
|
Registration, Cancellation or Modification of Caution/Restriction |
£60.00 (inc. VAT) |
|
Dealing with Third Parties (Law Firms or ecternal to Transaction) |
£50.00 (inc. VAT) |
How long will the transaction take to complete?
Sale, or purchase of a house all depends on a number of factors. The average process takes between 8-16 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 16 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
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