The precise stages involved in the purchase of a residential property vary according to your circumstances. However, below are some of the steps in a typical conveyancing process:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information receive
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
MORTGAGES AND REMORTGAGES
We work on a clear pricing base, so you will know exactly how much your remortgage is going to cost from the outset.
If during the transaction there are any new development which could lead to an additional cost, we will discuss the change in fees with you at the earliest opportunity and agree a way forward.
Legal Fees (no VAT payable) (excluding disbursements)
Re-mortgage £400 to £750
Further disbursements (no VAT payable) could include bank transfer fees (£35), title documents (£3-£6), minimal HM Land Registry searches (£5), HM Land Registry fee ranging from £20 to £125.
How long is it going to take?
Re-mortgage – 6-8 weeks
The time taken may be longer if you switch to a new lender from your existing lender.
Stage of Process
The precise stages involved in the mortgage or remortgage of residential property vary according to your circumstances. These may include some of the follow stages:
- Taking your instructions and giving initial advice based on the information you have provided
- Requesting the Title Deeds and Redemption Statement
- Obtaining Official Copies of the Title
- Checking the Title
- Checking Official Copies
- Leasehold properties will require the lease to be checked and enquiries made if relevant
- Searches
- Checking the mortgage offer
- Preparing for completion
- Requesting final redemption statement
- Requesting the mortgage advance
- Completion
- Registration
IMMIGRATION
Tier 1 (Highly skilled workers, entrepreneurs, investors and graduates)
Tier 2 (Sponsored workers)
Tier 4 (Students)
Tier 5 (Temporary workers) Visas and settlements
Tier 1 to Tier 5 £600 to £700
Extension of stay Spouse Applications £600
Application for work permit £600
Visiting the UK £600
UK citizenship and indefinite leave to stay in the UK £700
Nationality/ Citizenship £700
Immigration Appeals (Immigration Tribunal/ High Court) £800 to £1000
No VAT is payable on legal fees
The above fees include the following:
Discussion of your circumstances, confirming the most appropriate Application for you to make and what other options may be available to you;
Immigration Rules requirements and whether you meet the criteria;
Consideration of the supporting evidence you have provided
Advice about the decision and any further steps you need to take.
The above fees do not include dealing with any decision/appeal.
Disbursements are costs related to your matter that are payable to third parties, such as visa fees. Disbursements are not included in the costs set out above and will be provided, where necessary on a case by case basis.
The above costs also do not include any Home Office fees for making the application. You will pay this to the Home Office directly as part of the application process.
How long will my application take?
We cannot guarantee how long the Home Office will take to process your application.
Read the current processing times.
https://www.gov.uk/guidance/visa-processing-times-applications-outside-the-uk
We will normally be able to submit this type of application within 2 weeks of you instructing us.
PROBATE
Fees in a probate matter vary and depend on the individual circumstances involved. Some services are provided on a clear pricing basis and some on a time spent basis.
If there is a will or where there is no will. We can help by obtaining the Grant of Probate / Letters Of Administration on your behalf. This will then be provided to the Executors / Administrators who deal with the remainder of the administration themselves.
This is for non-taxable estates where a full tax account is not required. This includes:
- Collating documents required to make the application
- Completing the application for Probate or Letters of Administration and the necessary HMRC Forms.
- Preparing Legal Statement for you to sign
- Making the application to the Probate Registry on your behalf
- Obtaining the Probate / Letters Of Administration and sending copies to you
Costs- £1,000 plus disbursements. No VAT is payable.
If a full tax account is required then there is an increased fee to cover the cost of submitting the IHT account to HMRC.
Costs- £1,500 plus disbursements. No VAT is payable.
Anticipated Disbursements
Probate Fee- £273.00
Copy for the Grant of Probate (per copy) – £1.50
Additional fees (not applicable in all cases)
Land Registry Search fee (only if there is a property) – £3
Land Registry registration fees (depending upon value of property)
(these fees may be higher if the property is not registered)
£20.00 to 125.00
Bankruptcy Search fee (per beneficiary)- £2
Inheritance Tax
Various factors that will affect the Inheritance Tax due on an estate, including estate value, identity of the beneficiaries, allowances available, and certain dealings with assets prior to death.
More information can be found at the following link on the .gov.uk website:
https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax-and-bereavement
Additional Costs
Certain events may mean that there are additional costs incurred, for example where a trust is established under the Will, if there are missing or incapacitated beneficiaries or if the deceased had numerous accounts and/or shareholdings with different financial institutions. This will be discussed with you in detail with the addition of additional fees.
Selling a property is not included in the costs set out above, if this is required, please let us know and we will provide you with an estimate in that regard.
Exclusions
There may be factors which would increase the costs. If this is the case, we will make sure you are fully informed of these at the earliest opportunity and a clear estimate of those extra costs will be provided.
In addition there may be further services required that involve paying fees to a third party, these may include tax advice and valuations for property, shares, investments or other assets.
Time Scales
It is taking take approximately 4 months to obtain the Grant for a straight forward estate and for more complex estates up to 6 months. If Inheritance Tax is payable or there are foreign properties involved then this timescale is likely to increase.
Key Milestones
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
Applying for the Grant
Obtaining the Grant
Collecting funds ready for distribution
Settling Liabilities
Producing Estate Accounts