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Price TransparencyConveyancingSmalleys Solicitors Limited2A Cross StreetArnoldNottinghamNG5 7BLsmalleyssolicitors.co.ukOUR conveyancing team is committed to providing you with the very best customer experience, in order that the process is completed as smoothly and as speedily as possible for you. Our high standards have been fully accredited by the Conveyancing Quality Scheme, operated by the Law Society, to give you ultimate peace of mind. We have an excellent reputation and we strive to deliver a friendly and efficient service to all our clients, which explains why the majority of our work comes from repeat business, recommendations and third party referrals. The information below provides you with details of our fees to complete a transaction and confirms when VAT is payable, along with the costs that are payable to other organisations (we call these ‘disbursements’). This includes dealing with registration at HM Land Registry and the payment of Stamp Duty Land Tax (Stamp Duty). We will handle the payment of the disbursements on your behalf and will provide you with details of each disbursement at the outset and if and when needed during the transaction. Our conveyancing fees cover all the work we are required to do to complete your sale, purchase or remortgage. How long will your transaction take to complete? From taking your initial instructions to the completion of your sale or purchase or other type of matter will depend on a number of factors and the number of parties in a chain of transactions. The average process takes between 8-12 weeks to a point of exchange. 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 8 - 12 weeks to exchange. However, if you are buying a leasehold property, this can take significantly longer, between 14 and 20 weeks if there are unforeseen events. Leasehold property is a lot more complicated than a freehold property as there are other matters to deal with, for example, who is responsible for the repairs and maintenance of the property, then the Insurance arrangements, management fees, apportionment of ground rent and service charges to name but a few. If you are buying a property that requires an extension to the lease because the tern remaining is not acceptable this can take significantly longer to deal with.Other factors affecting the length of time your matter may take to complete will include the requirements of others buyers or sellers, their solicitors, management companies along with others; how many properties there are in the chain and the types of properties, (some maybe freehold, others leasehold) if one party pulls out the chain can collapse and you have to start again. There may be a probate property in the chain (where the owner of a property in the chain has passed away and their personal representatives have to apply to the Probate Registry for Probate; this can delay a chain) We will keep you informed throughout the process as each sale, purchase or remortgage can vary depending on the matters incidental to your specific transaction.We have provided you with a Schedule of all our fees at the end of this document. Stamp Duty Stamp Duty (or Land Tax in Wales) payable on a purchase of a property (whether this is freehold or leasehold) depends on the purchase price of your property. We will ask you about your circumstances, for example whether you are a first time buyer, or whether you are selling the house you live in, as these factors can alter the Stamp Duty you have to pay. You may have to pay a Stamp Duty surcharge of 3% if you own more than one property.You can calculate the amount you will need to pay by using HMRC's Stamp Duty Land Tax Calculator hereLand Registration FeesLand Registration fees depend on the purchase price of your property and whether the property is already registered at the Land Registry. You can calculate the amount you will need to pay using HMLR’s website which can be found here.Our FeesOur fees for dealing with your transaction whether it’s a sale or purchase of a freehold or leasehold residential property assume a traditional transaction and that it will proceed without any difficulties or unforeseen complications; by way of example only:A defect in the title of your property which needs to be rectified prior to completion e.g. planning permission or building regs were not obtained for works carried out to the property in question. This may require an Indemnity Policy to be taken out which is an additional expense which either the buyer or seller will need to payProblems with a right of wayCrucial documents are missing and need to be obtainedThe property has solar panelsIt’s a leasehold property and there is no management company or the person or management company holding the freehold title are missing.The terms of the lease need to be extended.The property is bought at AuctionThis list is not exhaustive and is intended as a guide onlyConveyancing Searches when buying a houseThe standard?searches when buying a house?that should be carried out by your Solicitor during the conveyancing process, before you legally commit yourself to the purchase, are:1. Local AuthorityThis search will give you information on a number of different areas, e.g. planning issues, road works, the proximity of railway or tube lines, and whether the property is listed or is situated in a conservation area.These matters must all be found out before you exchange contracts since they may affect your enjoyment or use of the property. For example, if the property is in a conservation area, there will be restrictions in terms of external alterations to the property, or, if is transpires that major road widening schemes are planned nearby, you may change your mind about the purchase.2. Water and DrainageThis search will reveal matters such as the proximity of public sewers, whether there is a sewer running through the boundaries of your property, whether the property is connected to the main water supply, whether foul water and surface drainage from property drain to a public sewer and location of the water mains.3. Coal MiningThis search should be carried out where the property is situated in an ‘affected’ area.The search results will reveal whether there was?coal mining activity in the past, the existence of underground coal workings and mine entries which may cause problems with subsidence. It will also reveal whether any claims for compensation due to subsidence have been made.It should be noted that in some cases where compensation has already been paid out due to subsidence caused by coal mining, it will not be paid out again even if subsidence continues to be a problem.Other Conveyancing SearchesThere are also some non-routine searches that need to be undertaken in certain circumstances.We will advise you on which searches need to be carried out:3. EnvironmentalThe person dealing with your matter will make an assessment as to whether land contamination is an issue. ? Lenders generally do not require an environmental search to be carried out and it is not one of the routine ones, however, care must be taken to make sure environmental issues are considered where necessary, if, for example, it is known that there is a landfill site nearby.If there are serious land contamination issues highlighted in the report (if one is commissioned), you would be advised and so would your lender if you are having a mortgage. The lender will then consider whether they need to withdraw the mortgage offer. The potential clean-up costs, if land is found to be contaminated, can be considerable.4. Commons RegistrationThis search should be carried out where the property borders on common land or a village green. If it transpires that any such land has been registered under the Commons Registration Act 1965, no development is permitted over that land. This search can also be undertaken as an optional enquiry. 6. Land ChargesThis search should be taken when dealing with unregistered land. This will reveal whether any bankruptcy proceedings are registered against the owner of the land. It will also reveal information relating to encumbrances over the land, e.g. restrictive covenants, mortgages, estate contracts and home rights. All these terms will be explained to you if they are applicable to your transaction.7. Index Map SearchIn all cases involving unregistered land we carry out an index map search and it also useful when buying land comprised in more than one registered title. The search will reveal whether the land has already been registered or there is a pending application.8. Chancel Repair LiabilityIf certain cases a chancel liability search should be carried out. The deeds will often reveal whether the owner is liable to contribute towards church repairs but it should not be assumed that such a responsibility will necessarily be recorded in the deeds. This is something that will be discussed with you if it becomes clear it’s advisable to do on the property you are purchasing.10. Indemnity InsuranceIn some circumstances indemnity insurance can be taken out in place of conveyancing searches. We will advise you on this.Purchase of a Freehold Residential Property The stages of your transactionThe precise stages involved in the purchase of a freehold residential property vary according to the circumstances. However, below are what we consider to be some of the key stages to consider: - Taking your instructions and opening your file, writing to you and sending out our ‘initial instructions’ pack for you to complete and return to us with your Search feesChecking finances are in place to fund your purchase.Carrying out our due diligence which includes a Money Laundering ID check.Receiving the contract documents from the seller’s solicitor and providing you with copies of the property forms.Carrying out your searches and raising initial enquires based on the Contract pack we received.Obtain further planning documentation where required.Prepare the transfer deed for the approval of the seller’s Solicitors.Report to you and arrange a meeting to go through the mortgage offer and conditions and to advise on the transaction as a whole. This will include joint ownership where you are buying with others and the importance of having a Declaration of Trust to spell out each person’s interest in the property.Agree with you a completion date (the date from which you own the property).Where you have arranged a Mortgage, reporting to your Lender as we will also be acting for them in your transaction and arranging for all monies needed to complete your matter to be send to us.Exchange contracts and notify you that this has happened.Obtain pre completion plete your purchase Deal with the payment of Stamp Duty/Land TaxDeal with the application for registration at HM Land RegistrySend any deeds or other paperwork to you once completion of registration has taken placeClose your file and send to offsite secure storageSale of a Freehold Residential PropertyThe stages of your transactionThe precise stages involved in the sale of a residential freehold property vary according to the circumstances. However, below are what we consider to be some of the key stages to consider: - Taking your instructions and opening your file, writing to you and sending out our ‘initial instructions’ pack for you to complete and return to us which will include the property information forms for you to completeCarrying out our due diligence which includes a Money Laundering ID check.Obtaining the title documentation relating to the propertyPreparing the contract and sending to the buyer’s solicitors along with your completed property formsResponding where necessary to enquiries raised by the buyer's solicitor and advising you of any additional documents you may need to provide us with Approving the transfer deedObtaining a redemption statement if you have an outstanding mortgage and/or any other charges on your property.Contact you to arrange for you to sign the contract and transfer deed.Agree with you a completion date (the date from which you will no longer own the property).Exchange contracts and notify you that this has happened.Arrange for the monies to be received from buyer’s plete your sale sending the deeds and other documents to the buyer’s solicitorsDeal with repayment of your mortgage and any other charges (where applicable)Deal with the payment of estate agent’s fees (where applicable)Send you the final statement and send to you any monies you are due.Close your file and send to offsite secure storagePurchase of a Leasehold Residential Property The core stages involved in the purchase of a leasehold residential property are similar to a freehold purchase but there is additional work we have to carry out detailed below (‘Additional work’). The stages of your transactionThe precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are what we consider to be some of the key stages to consider: - Taking your instructions and opening your file, writing to you and sending out our ‘initial instructions’ pack for you to complete and return to us with your Search fees.Checking finances are in place to fund your purchase.Carrying out our due diligence which includes a Money Laundering ID check.Receiving the contract documents from the seller’s solicitor and providing you with copies of the property forms.Carrying out your searches and raising initial enquires based on the Contract pack we receive.Obtain further planning documentation where required.Prepare the transfer deed for the approval of the Sellers Solicitors.Report to you and arrange a meeting to go through the mortgage offer and conditions and to advise on the transaction as a whole. This will include joint ownership where you are buying with others and the importance of having a Declaration of Trust to spell out each person’s interest in the property.Agree with you a completion date (the date from which you own the property).Where you have arranged a Mortgage, reporting to your Lender as we will also be acting for them in your transaction and arranging for all monies needed to complete your matter to be send to us.Exchange contracts and notify you that this has happened.Obtain pre completion plete your purchase.Deal with the payment of Stamp Duty/Land Tax.Deal with the application for registration at HM Land Registry.Send any deeds or other paperwork to you once completion of registration has taken place.Close your file and send to offsite secure storage.Additional WorkWe will need to obtain the management pack from the management company (who manage the leasehold property you are buying).We will need to consider the terms of your lease and the seller’s leasehold titleWe will need to ensure that any restrictions contained in the leasehold title are dealt with appropriately and all necessary consents to the assignment of the lease are obtained (assignment is the transfer of the lease to you)We will look at the ground rent and service charges you may be asked to pay and report to you the annual costs involvedWe will ensure the correct notices are given on the freehold management companyExpenses You will be required to pay some or all of the following fees to third parties in connection with the Landlords, Managing Agents or Residents Associations fees. We will discuss this with you at the outset and/or during your purchase. 1. Notice of Transfer fee (set out in the lease). 2. Notice of Charge fee (if applicable).3. Deed of Covenant fee (this fee is provided by the management company and can be difficult to estimate)4. Certificate of Compliance fee (to be confirmed either by the landlord or management company)You should also be aware that ground rent and service charges are likely to apply throughout the ownership of your leasehold property. We will confirm the ground rent and the anticipated service charges applicable to the property as soon as we receive this information. Sale of your Leasehold Residential PropertyThe stages of your transactionThe precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, below are what we consider to be some of the key stages to consider: - Taking your instructions and opening your file, writing to you and sending out our ‘initial instructions’ pack for you to complete and return to us which will include the property information forms for you to completeCarrying out our due diligence which includes a Money Laundering ID check.Obtaining the title documentation relating to the propertyPreparing the contract and sending to the buyer’s solicitors along with your completed property formsResponding where necessary to enquiries* raised by the buyer's solicitor and advising you of any additional documents you may need to provide us with Approving the transfer deedObtaining a redemption statement if you have an outstanding mortgage and/or any other charges on your property.Contact you to arrange for you to sign the contract and transfer deed.Agree with you a completion date (the date from which you will no longer own the property).Exchange contracts and notify you that this has happened.Arrange for the monies to be received from buyer’s plete your sale sending the deeds and other documents to the buyer’s solicitorsDeal with repayment of your mortgage and any other charges (where applicable)Deal with the payment of estate agent’s fees (where applicable)Send you the final statement and send to you any monies you are due.Close your file and send to offsite secure storageEnquiresThe buyer’s solicitor will make certain enquires which we will need to respond to.? If a Managing Agent handles the property it is essential that they clarify certain details about the way in which the Apartment block or leasehold property is run.? These enquiries could include:Whether you as the seller have paid all the ground rent and service charges due. Usually when we complete the sale of your property we need to calculate if you are owed some ground rent or service charge or if you need to pay additional amounts. This is called apportionment.If there are any planned repairs or refurbishment to the Apartment block (which would usually mean additional charges)Whether there have been any previous disputes between the Landlord and LeaseholdersIf there is an up to date Building Insurance PolicyWe would also need accounts for the last 3 years (if they exist).Re-Mortgage of your Freehold or Leasehold Residential PropertyThe stages of your transactionThe precise stages involved in the re-mortgage of a residential freehold or leasehold property vary according to the circumstances. However, below are what we consider to be some of the key stages to consider: - Taking your instructions and opening your file, writing to you and sending out our ‘initial instructions pack for you to complete and return to us with your Search fees.Checking finances are in place to fund your re-mortgage.Carrying out our due diligence which includes a Money Laundering ID check.Carrying out your searches Consideration of the conditions of your mortgage offer and communicate to your mortgage lender where necessaryReport to you and arrange a meeting to go through the mortgage offer and conditions and to advise on the transaction as a whole. This will include joint ownership where you are buying with others and the importance of having a Declaration of Trust to spell out each person’s interest in the property.Reporting to your Lender as we will also be acting for them in your transaction and arranging for all monies needed to complete your matter to be send to us.Agree a completion date and obtain pre completion plete your re-mortgage.Deal with registration with the Landlord/Managing Agent or Residents AssociationDeal with the application for registration at HM Land Registry.Send any paperwork to you once completion of registration has taken place.Close your file and send to offsite secure storage.Residential Conveyancing Charges – 2020/2021Sale Freehold Property?1 - ?100,000?400.00 plus VAT?100,001 - ?150,000?450.00 plus VAT?150,001 - ?200,000?500.00 plus VAT?200,001 - 300,000?550.00 plus VAT?300,001 - ?400,000?600.00 plus VAT?400,001 - ?500,000?700.00 plus VAT?500,001 - ?600,000?800.00 plus VAT?600,001 - ?700,000?850.00 plus VAT?700,001 - ?1,000,000?950.00 plus VAT?1,000,001 - ?2,000,000?1,100.00 plus VATPurchase Freehold Property?1 - ?100,000?400.00 plus VAT?100,001 - ?150,000?450.00 plus VAT?150,001 - ?200,000?500.00 plus VAT?200,001 - 300,000?550.00 plus VAT?300,001 - ?400,000?600.00 plus VAT?400,001 - ?500,000?700.00 plus VAT?500,001 - ?600,000?800.00 plus VAT?600,001 - ?700,000?850.00 plus VAT?700,001 - ?1,000,000?950.00 plus VAT?1,000,001 - ?2,000,000?1,100.00 plus VATSale Leasehold Property?1 - ?40,000?550.00 plus VAT?40,001 - ?60,000?550.00 plus VAT?60,001 - ?80,000?550.00 plus VAT?80,001 - ?100,000?600.00 plus VAT?100,001 - ?150,000?700.00 plus VAT?150,001 - ?200,000?750.00 plus VAT?200,001 - ?300,000?800.00 plus VATPurchase Leasehold Property?1 - ?40,000?550.00 plus VAT?40,001 - ?60,000?550.00 plus VAT?60,001 - ?80,000?550.00 plus VAT?80,001 - ?100,000?600.00 plus VAT?100,001 - ?150,000?700.00 plus VAT?150,001 - ?200,000?750.00 plus VAT?200,001 - ?300,000?800.00 plus VATRe-Mortgage of Freehold or Leasehold PropertyRe-Mortgage only ?350.00 plus VATAdditional fees we chargeTelegraphic Transfer Fee?25.00 plus VATStamp Duty Submission Return Fee?30.00 plus VATOther Conveyancing Matters We Deal WithEquity ReleaseFrom ?600.00 plus VATTransfer of Equity (no Mortgage)?350.00 plus VATTransfer of Equity (with a Mortgage)?380.00 plus VATTransfer of Equity Leasehold (no Mortgage)?330.00 plus VATTransfer of Equity Leasehold (with a Mortgage)?390.00 plus VATDeclaration of TrustFrom ?195.00 plus VATHelp to Buy ISA?25.00 plus VATPreparation of a Statutory Declaration?75.00 plus VAT First Registrations?250.00 plus VATLifetime ISA ?50.00 plus VATHelp to Buy Scheme ?100.00 plus VATPayments to third parties (Disbursements)Search fees?183.74Office Copy Entries?6Land Registry Search?3ID Check (each person)?10.00 plus VATBankruptcy Search (each person)?2Registration Fee to HM Land RegistrySee the link in our information to the fee calculator Stamp DutySee the link in our information to the fee calculatorWe will submit our Invoice towards the end of the transaction. The completion Statement we give to you will include our fees, payments to third parties and VATPLEASE NOTE: The fees quoted assume you have instructed us directly and you have not been introduced through an intermediary for example an estate agent, broker or lender with whom we may have existing commercial referral arrangements. If are more than happy to discuss this with youWe also offer a No Move No Fee option. For a payment of ?75.00 which includes VAT, we guarantee that you will not face a bill for our fees, but any search fees already paid or any other third party payments may not be recoverable. The fee is payable per transaction and therefore a sale and purchase transaction will attract a payment of ?150. If you choose not to take the No Move No Fee Option and your transaction fails to proceed to completion, then you will be billed for all work carried out by us up to the point that the transaction falls through. If your transaction falls through at an advanced stage, our fees may be 100% of the fees initially quoted.Our TeamMandy Smith joined Smalleys as head of the conveyancing department in August 2019. Mandy specialises in residential conveyancing including all types Freehold and Leasehold Sales and Purchases, Transfers, registered and unregistered conveyancing, transfers of part, legal charges and other non-standard conveyancing matters such as deeds of release and grants of easements, overage and conditional contracts, rights of pre-emption and option agreements. Having started working in conveyancing in the 1980’s and training to be a FILEX she qualified in 1999. Mandy has a widespread experience and knowledge of conveyancing matters. Tracey Gretton an Associate at the firm joined Smalleys in June 2001 and over the years has gained a reputation for dealing with complex matters including Leasehold work. Tracey also deals with all aspects of residential conveyancing including all types Freehold and Leasehold Sales and Purchases, Transfers, registered and unregistered conveyancing, transfers of part, legal charge, equity release, shared ownership and right to buys.Louise Mangham Paralegal, joined Smalleys in June 2005 as the Office junior and has worked her way up through the ranks. With the teams encouragement over the years, she has progressed to Paralegal and is training to be a Licensed Conveyancer. She deals with all aspects of residential conveyancing under the supervision of Mandy and TraceyOther members of the teamMandy is supported by Susie Gompertz, Paula Shutt, Linda Cooke, and Emma HillTracey is supported by Susi Barlow, Tracey Williams, and Amanda ElliottKatie Taylor assists Tracey, Mandy and Louise with all aspects of the conveyancing transaction and is currently training with a view to handling her own cases and qualifying as a Paralegal. ................
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