Conveyancing Costs

Purchase

Professional Fees from (Plus VAT at a rate of 20%)		Additional costs (on top of Professional fees + VAT)
Freehold Property	£850.00	Help to Buy Scheme	+ £400.00
Leasehold Property	£1,250.00 *	New Build	+ £400.00
+ AML ID fee (Per person)	£20.00
+ Electronic Transfer Fee (Per TT fee)	£24.00
Disbursements (no VAT)
Search Fees	£203.60 **	Notice Fees (For new build)	+ £165.00
HM Land Registry Office Copy Searches and entry fees	£3.00 ***	Search Insurance	+ £15.00
HM Land Registry Fee	£20 - £910.00 ****

The Professional fees we charge will vary based on the following factors:

• Value of the property
• Location of the property
• Experience of the Conveyancer
• Complexity
• Urgency/timescale

^* You should be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

^** search fees and the searches required vary depending on the location of property.

^*** HMLR Office Copy Searches and entry fees are £3.00 each, the number required vary on each transaction.

^**** HMLR fee varies dependant on the value of the property. See link for more information on the Land Registry fees.

Stamp Duty or Land Tax

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.

Timescales

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 6-12 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 6 months. In such situations, additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances, the below is a typical example:

1. Once your purchase has been agreed you will need to make contact with the expert at Thomas Flavell & Sons who is acting for you. They will send you details of our terms of business confirming the professional charges that we have agreed together with all disbursements that may be incurred. Thomas Flavell & Sons prides itself on being transparent and having “no hidden charges”. You will be asked to complete and return to us a Client Information Sheet to provide us with your details.
2. Your Seller’s Conveyancer will send us the Contract Pack. The Pack contains a draft Contract and a copy of the Seller’s title. Also included are a Fittings and Contents Form which lists the items included or excluded from the sale, and a Property Information Form completed by the Seller which provides vital information about the property, such as which boundaries will be your responsibility. We will send copies to you together with a copy of the HM Land Registry Plan for the property, at this point you need to let us know if there is anything that is incorrect or that you have not agreed to.
3. Upon receipt of the HM Land Registry Plan we will send off your searches with the local authority and any other searches that we deem relevant to the property. Searches, on average, can take three weeks and therefore it is vital that we put these in hand as soon as possible. If the results of the searches mean that we need to raise further enquiries with the Seller’s Conveyancers then we will do so and we will report to you on any unusual findings.
4. It is important, if you are having a mortgage on the property, that you arrange to see your bank, building society or financial advisor as soon as possible after you have agreed your purchase. It can often take your lender several weeks to process your mortgage application and produce your final mortgage offer. As part of the lending process, your lender will instruct, on your behalf, a valuation of the property. If the valuation report reveals any legal matters that require clarification or further investigation then please forward a copy to us as soon as possible so that we can advise you accordingly. Please remember that this valuation report does not amount to a proper structural survey of the property. It is usual for us to raise enquiries about the Contract Pack, the search results and sometimes the valuation report.
5. Once all parties are satisfied, we will make arrangements for you to sign the Contract. The Contract is not binding yet merely because you have signed it. After signing the Contract, you tell us what completion date you want. You must bear in mind the need to choose a date which is acceptable to all parties. The completion date cannot be on a Saturday, Sunday or any public holiday as banks and financial institutions are closed so money cannot be transferred between Conveyancers. Once a completion date is agreed in principle, we will ask you to let us have your deposit so that we can then exchange Contracts on your behalf. This simply means that we send your signed Contract to the Seller’s Conveyancers who then send the duplicate Contract signed by the Seller to us. It is only now that the Contract becomes binding and your completion date is fixed.
6. Between exchange and completion we will ensure that the finances needed to complete are co-ordinated, we will request any mortgage funds from your lender and will send you a written statement of any outstanding monies that we will need to collect from you before completion can take place.
7. On completion, we send the purchase money to the Seller’s Conveyancer, completion takes place once they have received the funds. All that remains is for you to collect your keys from the Estate Agents!
8. In the weeks following completion we will be arranging to register the property in your name at HM Land Registry we will also deal with the payment of your Stamp Duty Land Tax to HMRC. Once your registration is completed, we will send to you a copy of the new title showing you as the new registered owners and will also send a copy to your lender if they have requested that we do so.

Sale

Professional Fees from (Plus VAT at a rate of 20%)		Additional costs (on top of Professional fees + VAT)
Freehold Property	£850.00	Help to Buy Scheme Redemption	+ £300.00
Leasehold Property	£1,250.00 *
+ AML ID fee (Per person)	£20.00
+ Electronic Transfer Fee (Per TT fee)	£24.00
Disbursements (no VAT)
HM Land Registry Office Copy searches and entry fees	£3.00 *

The Professional fees we charge will vary based on the following factors:

• Value of the property
• Location of the property
• Experience of the Conveyancer
• Complexity
• Urgency/timescale

^* HMLR Office Copy Searches and entry fees are £3.00 each, the number required vary on each transaction.

Timescales

How long it will take for us to deal with your sale 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.

Stages of the process

The precise stages involved in the sale of residential property vary according to the circumstances, the below is a typical example:

1. As a seller, on marketing your property you must commission an Energy Performance Certificate (EPC) for your property, if no such Certificate is already available. It is the duty of both the Seller and the person acting on behalf of the Seller to make reasonable efforts to secure an EPC within 28 days of commencing marketing. Thomas Flavell & Sons can organise the commissioning of an EPC for your property to pass to your chosen Estate Agent.
2. Once a sale has been agreed you will need to make contact with the Conveyancer who is acting for you. They will send out to you details of our terms of business confirming our professional charges which we have agreed together with all disbursements that may be incurred. Thomas Flavell & Sons prides itself on being transparent and having “no hidden charges”. You will also be sent a Fittings and Contents Form and a Property Information Form to complete about the property you are selling.
3. We will write to your lender, if you have one, to request any title deeds that they hold for your property. The majority of properties are now registered online and so we should be able to access copies of your deeds directly with our link to HM Land Registry. This saves valuable time in waiting for your deeds to arrive from the lender!
4. Once we have a copy of the title deeds a Contract Pack will be sent out to the Buyer’s Conveyancer. This will contain the copy deeds, a draft Contract for Sale, the Fittings and Contents Form and Property Information Form. If you are selling a leasehold property then we will also request a copy of your lease and any paperwork that you have regarding the collection of your ground rent and service charge.
5. Upon receipt of the Contract Pack your Buyer’s Conveyancer will put in hand their search with the local authority and such other searches as they deem relevant to the property. Searches, on average, take approximately three weeks. During this time your Buyer will be organising funds for the purchase and if they are having a mortgage the valuer will be in contact with you to arrange a time to carry out the valuation. It is usual for the Buyer’s Conveyancer to raise enquiries about the Contract Pack, the search results and sometimes the valuation report. We will help you deal with these enquiries. Once all parties are satisfied, we will make arrangements for you to sign the Contract. The Contract is not binding merely because you have signed it.
6. After signing the Contract you tell us what completion date you want. You must bear in mind the need to choose a date which is acceptable to all parties. The completion date cannot be on a Saturday, Sunday or any public holiday as banks and financial institutions are closed so money cannot be transferred between Conveyancers.
7. We will then exchange Contracts on your behalf. This simply means that the Buyer’s Conveyancers send the Contract which the Buyer has signed to the Seller’s Conveyancers who send the duplicate Contract signed by the Seller to the Buyer’s Conveyancers. A deposit is paid at this stage. It is only now that the completion date is fixed.
8. Prior to completion we will request a redemption figure from your current lender (if you have a mortgage), obtain details of your Estate Agents fees and will write to you with a completion statement showing how much money you will be due following completion. On completion, we receive the sale money from the Buyer’s Conveyancer, pay off your mortgage and pay the Estate Agents. The balance of the monies received, less our charges, is then accounted to you in the manner that you request. All that remains is for you to hand your keys to the Estate Agents who will then make these available to the new owners.

Re-Mortgage

Professional Fees from (Plus VAT at a rate of 20%)
Re-mortgage	£650.00
+ AML ID fee (Per person)	£20.00
+ Electronic Transfer Fee (Per TT fee)	£24.00
Disbursements (no VAT)
HM Land Registry Office Copy searches and entry fees	£3.00 *
HM Land Registry Fee	£20 - £910.00 **

The Professional fees we charge will vary based on the following factors:

• Value of the property
• Experience of the Conveyancer
• Complexity
• Urgency/timescale

^* HMLR Office Copy Searches and entry fees are £3.00 each, the number required vary on each transaction.

^** HMLR Fee varies on the new mortgage sum being borrowed. See link for more information on the Land Registry fees.

Timescales

How long it will take for us to deal with your re-mortgage will depend on a number of factors. The average process takes between 4-6 weeks.