At Hennings Solicitors we strive to make the process as stress free as possible for you by being available and approachable. This begins with our fixed fee quote and we do not charge for any hidden extras such as expediting the transaction between exchange and completion. We will happily speak to and update your estate agents as we understand that communication is key for everyone in the chain.
If you are selling a property, we ask you to complete information forms at the outset of the transaction so that there is no delay at the beginning. We use our experience to anticipate questions a buyers solicitor will ask, and ensure that we gather as much information as possible from you at the outset. We download the title deeds and any other relevant documents from the Land Registry and draft the contract and then can then send a full contract pack to the buyers solicitors. We respond to any enquiries raised about your property, and will call you if we need to take your instructions, proceeding through to exchange of contracts and completion.
If you are buying a property, once we have received your contract pack, we apply for searches and raise any necessary enquiries with the sellers solicitors. We report to you on both the contract papers and your mortgage offer (if required). We report in writing and are happy to discuss your concerns or queries throughout the transaction, by email, telephone or in person.
We will then progress the transaction through to exchange of contracts, which is when the contracts become binding, and at that point a completion date is agreed. We arrange for the transfer of completion funds and after completion, we will deal with the stamp duty and registration formalities at the Land Registry.
We offer fixed fee conveyancing with no hidden costs. Our fixed fees cover all our fees for acting for you from the beginning of the transaction to the end of the standard transaction and everything in between. They are detailed below:
- For a freehold purchase, our fixed fee is £850 plus VAT plus disbursements;
- For a leasehold purchase, our fixed fee is £950 plus VAT plus disbursements;
- For a freehold sale, our fixed fee is £850 plus VAT plus disbursements;
- For a leasehold sale, our fixed fee is £950 plus VAT plus disbursements.
- We charge £20 plus VAT for implementing a same day bank CHAPS transfer.
If you are buying a new build property, using a help to buy scheme, or purchasing a shared ownership property, due to the complexity and amount of additional paperwork to review we charge an additional £250 plus VAT
Please note that if the value of your transaction exceeds £1 million, then we reserve the right to charge a higher fixed fee. Please contact us for a quote tailored to your particular circumstances.
What are disbursements?
Disbursements are fees payable to third parties as part of your transaction. Disbursements you are likely to pay are as follows:
- Our bank charges us a same day CHAPS fee of £16 per CHAPS payment. If you are buying and selling a property and the property you are selling has a mortgage to be redeemed on the same day, you will probably have 2 or 3 CHAPS fees to pay.
- When selling a property, we will need to download your title deeds from the land registry. Each document costs £3. You should budget for £6 for a freehold sale (to cover your freehold title register and plan) and £18 for a leasehold sale (to cover freehold and leasehold title deeds and official copy lease).
- When purchasing a property, you should budget for a local authority searches, water and drainage search and an environmental search. These fees may vary depending on the local authority and water service provider. We use a search provider and fees for Brighton and Hove searches are £100 for a local authority search, £60 for a water search from Southern Water, £58.80 for an environmental search. Depending on where you are buying, we might recommend other searches as well.
- Stamp duty is payable based on the amount of consideration paid and depending on your personal circumstances different rates apply. Check the HMRC stamp duty calculator here: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
- When you buy a property, we protect your position at the land registry by carrying out a priority search in between exchange and completion. This prevents anyone else registering anything at the land registry before the transfer has been registered. This is called an OS1 search and costs £3. We also carry out a bankruptcy search against each name to be registered at £2 per name searched.
- The land registry fee is on a sliding scale depending on the value of the property being transferred. You can check out the land registry fee calculator here: http://landregistry.data.gov.uk/fees-calculator.html
- When you buy a leasehold property, you will probably have to pay freeholder’s fees for them to deal with the administrative duties of registering you as a new owner. We do not know what these fees are until we have heard from the freeholder or managing agent, but we recommend you budget for £90.
- If you are selling a leasehold property, and your property is managed by a managing agent, you are likely to have to pay for the managing agents pack prepared for the new buyer. We do not know what these fees are until we have heard from your managing agent, but we recommend you budget for £300. You may also have to pay additional freeholder’s costs or their legal fees for dealing with the transaction.
- Sometimes indemnity insurance policies are required for missing documentation or defects in the title or breaches of covenants. We will obtain quotes for you depending on your situation.
If you would like us to provide you with a quote tailored to your personal circumstances, please do contact us.