At Shanthi & Co Solicitors our work in your conveyancing matters aim to exceed your expectations. Whether you are buying your first or building a portfolio or setting up start-up, we will adapt our approach to meet your needs. No two clients are the same and we provide a tailored service at the level you.

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Residential Conveyancing Fees:

 

Below are details of the legal costs that would be charged on a residential conveyancing transaction, together with the services provided as part of these costs. These costs are exclusive of VAT and disbursements that may be incurred as part of a transaction. The exact amount charged will depend on the exact circumstances of the transaction, as well as the Partner/Fee Earner dealing with your matter.

 

Commercial property transactions are quoted on application.

 

a) Sale and Purchase transactions: 

 

The fees range from £900.00 – £2000.00*

 

b) Re-mortgage transactions:

 

The fees range from £600.00 – £1250.00*

 

The above-mentioned figures are based on the following assumptions:

• The matter proceeds in the usual way and is not expedited.

• The transaction does not involve the grant of a new lease or a lease extension.

• The matter does not become overly complicated

• We carry out the usual searches on a purchase or re mortgage.

• There are no defects in title or with the title documents that require remedying.

• There is a reasonable level of communication between us.

 

The above examples are not an exhaustive list. If your matter becomes unexpectedly complicated, then our costs may be reviewed, and you will be advised accordingly in writing.

 

When your case has been allocated to a Partner/Fee Earner, you will be provided with a full estimate of the costs and disbursements that are likely to be incurred on your transaction and the hourly charging rate of the Partner/Fee Earner dealing with your transaction.

 

Additional Fees:

 

Below is a list of additional costs likely to be incurred in each type of transaction:

 

i) Sales:

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- Land Registry official copies of documents: £3.75 plus VAT per document

- Bank transfer fee: £45.00 plus VAT

- AML Searches (per person): £6.00 plus VAT

- Management pack (leasehold only): £250 – 500.00 (estimated)

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ii) Purchases:

 

- Stamp duty: 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

- Land Registration fee: Calculated on purchase price and ranges from £20.00 – £910.00

- Land Registry searches: £3.75 plus VAT per priority search and £2.75 plus VAT per bankruptcy search

- Bank transfer fee: £45.00 plus VAT

- SDLT Return Fee: £150.00 plus VAT

- Search pack: £300 – 450.00 (estimated)

- Freeholder registration fee (leasehold only): £50 – 200.00 (estimated)

 

iii) Re-mortgages:

- Land Registration fee: Calculated on Loan Amount £20 – 910.00

- Land Registry searches: £3.75 plus VAT per priority search and £2.75 plus VAT per bankruptcy search

- Bank transfer fee: £45.00 plus VAT

- Local search/search insurance: £20 – 275.00 (estimated)

- Freeholder registration fee (leasehold only): £50 – 150.00 (estimated)

 

Details of what our costs include, and the services provided:

 

The fees estimated reflect the experience of the particular fee earner instructed. In addition to the status and qualification of the Fee Earner, the following are taken into account when calculating the legal fees: the value and complexity of the transaction; whether the property is unregistered, leasehold, requires a declaration of trust, a deed of variation or deed of rectification to be entered into, whether this firm is required to act on behalf of the lender and whether the transaction needs to be expedited. Therefore, under the circumstances it is difficult to give a realistic estimate of fees without having had the opportunity to review the papers. Please therefore contact the office or the fee earner directly for an accurate estimate of the firm’s fees for your particular transaction.

 

Work will by carried out by:- Dinu Senadheera (Solicitor, admitted 2008), Thilini Kaluarachchi (Solicitor, admitted 2018) and Deborah Lee (Trainee Solicitor) under the Supervision of Padmini Senadheera (Solicitor, admitted 1991 & Senior Partner)

 

Key stages of a residential Re – Mortgage that our fees cover

 

• Take your instructions and give you initial advice.

• Apply for the Local Authority Search/Obtain no search indemnity insurance.

• Contact your existing lender to confirm this firm’s instructions in this matter and to request a Redemption Statement.

• Discuss with you any points on your Mortgage Offer that you wish to raise, however, we do not advise on the underlying financial terms of the mortgage arrangement between you and the lender. We process the offer and deal with any legal issues.

• Carry out pre-completion searches, report to your lender and obtain the monies necessary for completion from the mortgage company.

• Redeem your existing mortgage on the Property.

• Post-completion – Register the new charge against the Property at the Land Registry, lodge deeds/supporting documents with the mortgage company and send copies to you. Other supporting documents may be retained by Layzells free of charge or sent to you. We will send to you a copy of your Land Registry entries following completion. Please note the Land Registry now retains all Original Title Deeds.

• Prepare and submit to you final accounts.

 

The transaction can take anywhere from 4-12 weeks to complete.

 

Key Stages of a Residential Sale that our fees cover

 

• Take your instructions and give you initial advice

• Obtain official copies of the register from H M Land Registry and, if required, the Original Lease from you or your lender (if applicable) or a Land Registry Official Copy of the Lease.

• Supply information to the Buyer’s solicitor in regard to your title and supply them with Property Information Forms and other forms completed and signed by you.

• Prepare a draft Contract of Sale and supply this to the buyer’s solicitor.

• Deal with the buyer’s solicitor’s enquiries.

• Exchange Contracts and agree a Completion Date (moving date).

• Approve the Transfer Deed and arrange for its execution.

• Obtain a redemption figure from your lender and from any other parties that have a registered charge over the Property, obtain details of the estate agent’s commission and prepare a Completion Statement.

• On Completion, redeem your mortgage (if applicable) and any other borrowings secured on the Property, and settle the estate agent’s account unless instructed by you not to do so.

 

How long will your house sale take?

 

How long it will take from you agreeing the sale price until you can complete will depend on a number of factors. The average process takes between 6 – 12 weeks.

It can be quicker or slower, depending on the parties in the chain and what the paperwork reveals.

Key Stages for a Residential Purchase that our fees cover

 

• Take your instructions and give you initial advice

• Check finances are in place to fund your purchase and contact the lender’s solicitor if needed.

• Receive and advise on contract documents

• Carry out searches

• Obtain further planning documentation if required

• Make any necessary enquiries of the seller’s solicitor

• Discuss with you any points on your Mortgage Offer that you wish to raise, however, we do not advise on the underlying financial terms of the mortgage arrangement between you and the lender.

• Report to you on Title and on the documentation received from the seller’s solicitors, arrange for you to sign the Contract and Mortgage Deed, and transfer the deposit funds (if these are not coming from a related sale) to this firm’s client bank account. You will need to confirm the agreed Completion Date (moving date).

• Exchange Contracts.

• Carry out pre-completion searches, report to your lender (if applicable) and obtain the monies required for completion from you and the lender.

• Arrange for all monies to be received from the lender and you

• Complete the purchase.

• Post-completion – submit the SDLT form and arrange for payment of the SDLT to HMRC

• Register your interest in the Property at H M Land Registry and lodge Title Information and supporting documentation with your lender.

• Account to you for monies as may be necessary.

 

How long will your house purchase take?

 

How long it will take from your offer being accepted until you can move into your new house will depend on a number of factors. The average process takes between 6 – 12 weeks.

 

It can be quicker or slower, depending on the parties in the chain and what the paperwork and any survey reveals. For example, if you are a first time buyer, purchasing a freehold property with a mortgage in principle, it could take 8-12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such a situation, additional charges would apply.

 

* Our consultants fees are not caught in the fee range shown here and you will need to contact us directly to obtain a detailed quote for your particular transaction.