Conveyancing

At Bennett Richmond we are fully aware that buying and selling property is one of the most stressful times of your life. Purchasing a property is the biggest financial commitment you will make. We can remove the burden from you to us and take away the worry that comes hand in hand with moving house or business premises.


You can rest assured that our solicitors have many years experience in dealing with all property matters. 

You will be guided through the transaction without the use of old fashioned legal jargon and we promise the advice you receive will be clear and straightforward. Another promise we make is that we will update you regularly throughout the transaction so that you know exactly what is happening with your file. 

Wherever possible the same solicitor will deal with your matter from start to finish. We talk to many clients who have previously dealt with and have become frustrated with call centres during the conveyancing process. We guarantee that you will have a primary contact who is a qualified member of staff. That is why our clients return to us time and time again. 

You will undoubtedly receive an efficient, professional and friendly service from us. 

We have been awarded membership of the Law Society’s mark of excellence, the Conveyancing Quality Scheme for residential conveyancing in England and Wales. We are delighted to have achieved this distinction which confirms our position as a quality service provider in the area. 

CONVEYANCING

and

TRANSPARENCY PRICING

 

INTRODUCTION

The paragraphs below provide you with information on TRANSPARENCY PRICING.  You will find the paragraphs are numbered and named as follows:-

01        PURCHASE COSTS

02        SALE COSTS

03        REMORTGAGE COSTS

04        ASSUMPTIONS

05        LEASEHOLD DISBURSEMENTS

06        OUR CONVEYANCING TEAM

07        HOW LONG WILL TAKE IT TAKE

08        A CHAIN

09        HOUSE BUYING SELLING PROCESS

10        SEARCH PACK

11        PREPARATION

12        COMMUNICATION

13        TERMS AND CONDITIONS OF BUSINESS

14        PURCHASE – STAGES OF THE PROCESS

15        SALE – STAGES OF THE PROCESS

16        EXCHANGE OF CONTRACTS

17        THE COMPLETION DAY

18        INFORMATION ABOUT SOME TERMS LAWYERS USE IN THE   CONVEYANCING PROCESS

01 - PURCHASE COSTS                                                             

To check what you will pay there are two choices:-  1. You can use our online calculator which can access on this website, or  2.   If you prefer you can phone us on 01207 504141

If you use the calculator you will not need to phone us at all but you can phone us if you have some difficulty with using the calculator.

Note also:-

  • The above applies to a freehold / or leasehold purchase with or without a mortgage
  • See below both 04 …. ASSUMPTIONS and 05…. LEASEHOLD DISBURSEMENTS
  • With Land Registration fees you can calculate the amount you will pay related to the purchase price by using Land Registry website https://www.gov.uk/government/organisations/land-registry
  • With Stamp Duty Land Tax you can calculate the amount you will pay related to purchase price and other factors by using HMRC’s website https://www.gov.uk/stamp-duty-land-tax
  • Abortive work / disbursements will have to be paid for

02 - SALE COSTS

To check what you will pay there are two choices:-  1. You can use our online calculator which can access on this website, or  2.   If you prefer you can phone us on 01207 504141

If you use the calculator you will not need to phone us at all but you can phone us if you have some difficulty with using the calculator.

Note also:-

  • The above applies to a freehold / leasehold sale
  • See below both 04 …. ASSUMPTIONS and 05…. LEASEHOLD DISBURSEMENTS
  • Abortive work / disbursements will have to be paid for

03 - REMORTGAGE COSTS

To check what you will pay there are two choices:-  1. You can use our online calculator which can access on this website, or  2.   If you prefer you can phone us on 01207 504141

If you use the calculator you will not need to phone us at all but you can phone us if you have some difficulty with using the calculator.                                               

Note also:-

  • The above applies to a freehold / leasehold remortgage
  • See below both 04 …. ASSUMPTIONS and 05…. LEASEHOLD DISBURSEMENTS
  • With Land Registration fees you can calculate the amount you will pay related to the purchase price by using Land Registry website https://www.gov.uk/government/organisations/land-registry
  • Abortive work / disbursements will have to be paid for

04 - ASSUMPTIONS

 Our conveyancing fee is based on these assumptions:-

  • This is a standard transaction and that no unforeseen matters arise
  • On a leasehold purchase this is the assignment of an existing lease and is not the grant of a new lease
  • the transaction is concluded in a timely manner and no unforeseen complications arise
  • There is no abortive transaction / work / disbursements involved
  • all parties to the transaction are cooperative and there is no unreasonable delay from third parties providing documentation
  • Additional disbursement(s) may apply if an indemnity policy or policies is /  are required.

05 - LEASEHOLD DISBURSEMENTS

LEASEHOLD SELLERS PACK  

The fee charged to the sellers by the freeholder or management company or both in terms of providing a pack of documents which assist the buyers and the buyers solicitors with reference to the leasehold sale of a property.

NOTICE OF TRANSFER FEE     

The fee charged to the buyers by the freeholder or management company to notify them of a transfer which changes ownership of the property.        

NOTICE OF CHARGE FEE

A separate fee charged to the buyers by the freeholder and or management company for registering the buyers mortgage or other financial charge on the property

DEED OF COVENANT FEE        

A fee payable to the freeholder and or management company where the lease requires a separate deed of covenant by the incoming buyers on purchasing an existing lease

CERTIFICATE OF COMPLIANCE FEE

A fee charged to the buyers by the freeholder and or management company to cover the expense of complying with some provision of the lease or something registered at the Land Registry in connection with a leasehold property such as a restriction.

These fees vary from property to property and  we can give an accurate figure once we have seen your specific documents and have contacted the freeholder / management company to confirm.

You should also be aware that ground rent and service charge applicable if any are likely to apply throughout ownership of a leasehold property and payments will be necessary to adjust these on completion of a sale.

06 - OUR CONVEYANCING TEAM

Peter Aylmore

Solicitor with many years experience in both commercial and residential conveyancing

Mark Davies

Solicitor with many years experience in residential conveyancing

Christine Grogan

Legal secretary / assistant specialising in residential conveyancing with many years experience dealing with residential transactions of all descriptions

Supervisors:-

Peter Aylmore

Mark Davies

07 - HOW LONG WILL IT TAKE

The first thing most people want to know is “how long will it take for you to complete the sale of my house” or “how long will it take for you to complete the purchase of the house I am buying” There is no short or simple answer to that because there are many elements and issues in not only the conveyancing work involved in buying and moving into or selling and moving out of a property such as financial arrangements, such as state and condition of the property involved and others so it is not only a question of how slowly or quickly the conveyancing dealt with by your solicitors will happen that impacts on the answers to those questions. 

As a rough and ready guide transactions we deal with are normally dealt with between six and nine weeks following receipt of the sale particulars showing the price agreed and the other party involved in the transaction.

08 - A CHAIN

If there are other house moves linked to your move this is known as “a chain” and the more properties in the chain the more people in the chain must be ready to proceed at the same time and the whole chain will move forward dictated by the timetable of the slowest sellers or buyers involved in the chain. 

09 - HOUSE BUYING SELLING PROCESS                             

These sources may assist you:- https://www.legalchoices.org.uk

10 - SEARCH PACK

Searches are required on any purchase where there is a mortgage involved.  In a case where you do not require a mortgage you do have a choice if to have the search pack or chose to have only individual searches or none at all.  We would recommend at the very least there should be a Local Authority search and a Coal Authority search.

The search pack includes four searches and these are:-

  • A Local Authority search this gives details of the property such as planning permissions / building regulations for any works carried out on the property / whether the property lies within an area which may restrict its use such as a smoke control area / conservation area or area of outstanding natural beauty this search will also confirm whether the property falls within a contaminated land area or a compulsory purchase area.
  • Drainage & Water search which gives details of whether the property is connected to mains for both foul and surface water / connect to the mains for drinking water / whether any pipes or mains run within the boundary of the property so as to possibly hinder or prevent alterations or extensions to buildings.  The search will also confirm whether the property is charged on a rateable value or metered bases and will contain plans showing the routes of the pipes and sewers.
  • Coal Authority search  which gives details of any former mining or future mining issues
  • Environmental search  which gives details of the property and the surrounding area and confirms information on issues such as for example whether the property falls within a flood risk area / an area which could be subject to natural ground subsidence / or subject to contamination issues

11 - PREPARATION

On a sale we will require you either to give us the title deeds and documents relating to the property and if you do not have them we will need to know where they are.  We may also need a signed authority from you in order to obtain them.   Along with the title deeds we will also need all papers that you have access to which will include planning permissions / building regulation approvals / building notices / warranties / guarantees / receipts for work carried out / solar panel papers / etc.   The sooner we have these from you the better.  Also we will need to have the originals because copies will be used first but the other party will expect that the originals will be handed over when the transaction legally completes. 

On a sale, we will also need to know if there is a mortgage on the property and the name, address and account number for your lender and what is owing on the mortgage so we know the sale price will more than cover it. 

On a purchase, we will need from you details of the property you are buying along with details as to how you are funding the transaction including the lender for your mortgage and provider of the deposit if it is not you these can be given to us by phone or you may prefer to organise to have an appointment to come in to discuss with us.

12 - COMMUNICATION

Communication is important at all times but it is even more important at the start.   We must have as much information as possible from you.   Just by way of an example of this if the property involved has solar panels we need to aware of that as soon as possible in the transaction.  The same applies if the property is leasehold in which event we will need to know the name, address and contact details for the freeholder and the same for any management company involved. If you are selling there will be a leasehold sellers pack to pay for.

13 - TERMS AND CONDITIONS OF BUSINESS

You will be asked to sign and return one copy of Bennett Richmond’s terms and conditions of business.   With this form you will also be supplied with a number of requirements and a list of papers that it is important we have. In particular, you will be asked to produce I.D. documentation so that the necessary anti money laundering identification and know your client checks can be carried out  If you call in to the office with the original I.D. documents to enable us to take copies the originals will be returned to you immediately.   If you cannot call in to the office with them then you need to speak to us on the phone to make other arrangements.   You will also be asked to sign a privacy notice which is for data protection issues.  

On a sale you will be provided with two information forms both of these you will need to complete and return to us signed by each individual seller of the property.  These are a law society property information form and a law society fittings and contents form.  These forms are used to provide to the buyer as much information as can be made available to the buyer. 

Both of these forms consist of a number of pages so it will take you sometime to read through the forms and to complete them properly and carefully. 

14 - PURCHASE – STAGES OF THE PROCESS

The precise stages involved in the purchase of a residential property (freehold or leasehold) vary according to the circumstances however the following is a guide:-

  • Take your instructions and give you initial advice
  • Check finances are in place, check I.D. and check any of your further instruction
  • Receive and advise on contract documents / other papers applicable
  • Obtain search reports and report results to you
  • Make any necessary enquiries of sellers solicitors
  • Report to you in writing on contract / replies to enquiries / documents and information received.
  • Go through contract / conditions of mortgage offer and any other papers and issues and obtain your signature on contract / transfer / mortgage and any other papers.  Discuss dates for exchange and completion
  • Agree completion date (the date from which you will own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and from you
  • Complete purchase
  • Deal with payment of stamp duty land tax
  • Deal with application for registration at the Land Registry

15 - SALE – STAGES OF THE PROCESS

The precise stages involved in the sale of a residential property (freehold or leasehold) vary according to the circumstances but the following is a guide:-

  • Take your instructions and give you initial advice
  • Obtain original title deeds or registered details of the property from the Land Registry and based on those prepare the draft sale contract for approval
  • Submit the contract to the buyers solicitors for approval
  • Obtain completed information form of Property Information / Contents and Fittings and any other enquiries or matters arising and pass them onto the buyers solicitors
  • Deal with all necessary further enquiries raised by the sellers solicitors
  • Report to you on the contract / transfer and any other papers and obtain your signature on the contract / transfer and any other documents applicable.  Discuss dates for exchange and completion.
  • Agree completion date
  • Exchange contracts and notify that this has happened
  • Complete sale
  • Arrange for repayment of mortgage if there is one on the property / payment of the estate agents and solicitors costs if there is such a fee involved and accounting to you with the net proceeds of sale by way of a completion statement
  • Deal with any issues at the Land Registry

16 - EXCHANGE OF CONTRACTS

Up to this stage either party can pull out of the transaction but no party can do so after exchange takes place. A party is committed to the purchase or sale once we exchange contracts.  It is important that before this stage you raise any questions or concerns that you may have. 

17- THE COMPLETION DAY

This applies to both sales and purchases.  On a sale it is the day that the keys are handed over to the buyers.  If the property is already vacant then the keys will be released usually by the estate agents who will hand them over to the buyers after we have telephoned to confirm receipt of funds and that the keys can be released.  On a purchase it is the day on which the keys will be released to you in order that you may move your furniture or start moving in furniture to the house that you are buying.  It is important on this day not to arrive with your furniture at the property you are buying to early or you may find you are there before the transfer of funds has got to its destination and keys have not been released.    Arrangements for this day need to be discussed with us well in advance.

18- INFORMATION ABOUT SOME TERMS LAWYERS USE IN THE CONVEYANCING PROCESS

CERTIFICATE OF TITLE

The form submitted by the solicitors to the mortgage lender requesting your mortgage funds once all checks have been carried out against the property

COVENANT

A negative or a positive covenant contained in a deed that imposes an obligation to do something. Covenants can be positive things that you must do or restrictive things that you must not do.  Covenants bind the property not the owners and will run with the property

COMPLETION STATEMENT

A statement detailing all the financial payments involved in your transaction or transactions and what is due back to you or to be paid by you.

CONDITIONS OF SALE

The terms incorporated in the contract upon which the buyer and the seller agree to buy / sell the             property.  Standard conditions of sale are set by the law society

CONTRACT

The written legally binding agreement made between the seller and the buyer containing information relating to house sale / purchase transaction. When a completion date is agreed    and each party is ready to commit it is then contracts are exchanged

TRANSFER

A legally binding deed transferring ownership of the property from the sellers to the buyers.  This can also contain information such as rights and burdens affecting the land and in what capacity the buyers will own the land.

DISBURSEMENTS

Expenses payable to third parties incurred by the solicitor on your behalf during the conveyancing process such as Land Registry fees, search fees and some others (see separate details). 

EARLY REPAYMENT CHARGE

A charge imposed by the mortgage lender has a penalty for repayment of the mortgage before an agreed date.  This usually applies where the mortgage interest rate is fixed for a period of time and the mortgage is repaid during that period.

EXCHANGE OF CONTRACTS   

The point at which all parties to the transaction are committed and the date agreed for completion is fixed.  This happens by telephone between solicitors without the buyers or sellers being present.                                          

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