Last year, the government introduced a stamp duty holiday in an attempt to keep the property market moving through the lockdown. The changes meant that some homebuyers were able to to benefit from a £500,000 tax-free threshold, up from £125,000...
How can we help?
At Stephensons our experienced team of award winning residential conveyancing solicitors are here to ensure that your property transaction runs as quickly and as smoothly as possible, whether you are buying or selling a house or have any other residential property requirement you can rely on us to get you moving. For a free conveyancing quote without obligation for buying or selling a property please click here or call us on 01616 966 229.
Why choose Stephensons for your conveyancing?
We are an accredited member of the Law Society’s Conveyancing Quality Scheme. The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing teams.
What we quote for is what we do – for example, we include the price of compulsory searches in our quotes, so that you are fully aware of the total cost.
Moving house with Stephensons
Once you instruct us to act on your house move a case manager will be allocated to your file and you will have their contact details – including direct dial and email address – this will provide you with certainty that your case is being handled by your own dedicated residential conveyancing specialist who will be more than happy to discuss your property transaction to ensure that you are fully aware of the process.
Our residential conveyancing team can help with:
If you would like more information on our conveyancing services contact our specialist team on 01616 966 229 or request more information via our online enquiry form.
What is residential conveyancing?
The legal part of the process when buying or selling a home is called residential conveyancing. Experienced residential conveyancing solicitors are often used for this because the legal process can be complex and requires specialist knowledge to ensure that all requirements are met.
How much does conveyancing cost?
The average house price in the UK is £225,621 (source UK House Price Index). Our fees are based on average house prices, they vary according to the property price. We offer a fixed fee service on all transactions up to £2,500,000.
Our average legal fees to act on the purchase of a property are £822 inclusive of VAT
Our average legal fees to act on the sale of a property range are £774 inclusive of VAT
In addition to our fees you will have to pay certain third party costs.
Potential third party costs*
- Notice of transfer fee: This fee if chargeable is set out in the lease. Often the fee is between 0 - £500 plus VAT
- Notice of charge fee:(if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between 0 - £500 plus VAT
- Deed of covenant fee: This fee is provided by the management company for the property and can be difficult to estimate. Often it is between 0 - £250 plus VAT
- Certificate of compliance fee: To be confirmed upon receipt of the lease, as can range between 0 - £250 plus VAT
- HM land registry fee: Fee calculator
- Search fees: From £171 - £216 plus VAT - prices could increase subject to location of the property
*These fees vary from property to property and can be significantly more than the ranges given above. We can give you an accurate figure once we know who the management company and/or freeholder are. The notice fees are set by the management company/freeholder and we have no control over these charges.
Prices and third party costs are subject to change dependent on factors including property value - for a full quote and full breakdown of related third party costs please use our residential conveyancing calculator for a free quote without obligation: Online Conveyancing Quote
In addition to receiving instructions direct from buyers and sellers, we also work alongside brokers, referrers and property agents who refer clients to us. Many of these will provide fixed pricing on their websites and literature, the pricing that they advertise in many cases will include our fixed legal costs.
How long will the conveyancing process take?
Unfortunately nobody can say how long the process will take. The length of the chain, the type of transaction and the speed at which other parties involved in the transaction work and reply to queries and paperwork can all affect the length of the process. For a straightforward transaction, completion should take place within 8-12 weeks of instructing a solicitor when not subject to any major hold ups. For a property bought at auction the completion date is fixed and the transaction must usually be completed with 28 days.
What are the key stages of the conveyancing purchase process?
Once you have had an offer accepted, made a mortgage application and instructed your solicitor there are several steps which must be completed before you can get the keys and move into your new home. The key stages are:
- Contract pack obtained from the seller’s solicitors which is then checked and any pre-contract enquiries are raised.
- The necessary conveyancing searches and checks are carried out, including you needing to arrange household insurances.
- Pre-contract enquiries are answered by the seller’s solicitors and returned.
- Your solicitor reviews the pre-contact enquiry answers, the results of any surveys and the mortgage documents and feedbacks to you so that you can raise any issues that you might have.
- Once you are happy with everything you will be asked to pay the deposit in preparation for the exchange of contracts.
- A completion date is agreed between you and the seller and the contracts are exchanged. Once contracts are exchanged you are legally obliged to go through with the purchase.
- A transfer deed and completion form will be sent to the seller’s solicitor. Once these are approved by the seller’s solicitor and signed by all parties a completion statement will be prepared by your solicitor.
- Your solicitor will then carry out pre-completion searches and obtain the mortgage funds from your mortgage provider. Once complete you will officially be the owners of your new home and will be able to collect the keys at a time and place as agreed with the seller.
- Once the purchase is complete your solicitor will register the property in your name and you will receive a copy of the title and proof of ownership from The Land Registry.
What are the key stages of the conveyancing sale process?
Once you have accepted an offer and instructed your solicitor there are several steps which must be completed before you can hand over the keys to the new owners. The key stages included in our prices are:
- Title deeds, mortgage redemption figures and replies to property information questionnaires are gathered from you and your mortgagee.
- A Contract pack is prepared and supplied to the buyer’s solicitors to check and then raise any pre-contract enquiries.
- Necessary conveyancing searches and checks are carried out by the buyer's solicitor, which may give rise to further enquiries that you may need to assist in answering. These tend to be more complex for leasehold or managed properties.
- Once the buyer's solicitor is happy with everything, your solicitor will arrange the signing of contracts and checking of redemption statements to ensure there is enough money to redeem your mortgage,.
- A completion date is agreed between you and the buyer and the contracts are exchanged. Once contracts are exchanged you are legally obliged to go through with the sale and the buyer is legally bound to complete the purchase. Now is a good time to organise removal men if you haven’t already.
- Any deposit paid at exchange of contracts will usually be held by your solicitor pending completion of the sale.
- A transfer deed and completion form will be received from the buyer’s solicitor. Once these are approved and signed by all parties a completion statement will be prepared by your solicitor.
- The buyer's solicitor will then carry out pre-completion searches and obtain mortgage funds from the buyer's mortgage provider.
- Once complete your solicitor will attend to redemption of your mortgage and will notify you that all has satisfactorily completed, and that you may hand over the keys (and other essential information) to the new owners of your home.
- Once the purchase is complete your solicitor will attend to the distribution of sale proceeds not required in the sale of the property or the redemption of your mortgage.
What qualifications do the team hold?
All conveyancing work is supervised by a qualified solicitor or qualified Cilex member of staff. Specific experience of individual team members can be seen in the team member profiles.
To browse a range of FAQs related to the residential conveyancing process please click the following link: Residential Conveyancing FAQs
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Staff reorder - conveyancing
- David Baybut
- Natalie Bradley
- Michelle Stevens
- Natalie Waddington
- Gillian Cooke
- Rebecca Fletcher
- Kim Parr
- Noel Davies
- Stacey Finney
- Kim Wilson
- Karis Loxham
- Kate Williams
- Kate McDonough
- Alison Fanning
- Natalie Penman
- Jenny Prescott
- Stefanie Sherlock