Kundert Solicitors provides reliable, quality legal services in Coventry, Rugby and Bell Green. Our small firm strives to provide an expert personal service at competitive prices. Our team of residential property solicitors are highly experienced and qualified to handle all your residential property conveyancing matters.
Coventry Office
Andrea Ward
Partner/Head of Residential Conveyancing
30 years + experience
Coventry Office
Sarah Loveridge
Solicitor
2 years’ experience
Your Domestic Property Matters
Based in Coventry and Rugby, our legal team go to lengths to ensure you are aware of changes and progress right from making or accepting an offer to the completion of the deal.
We’ll keep you informed at each step of the legal process, from pre-contract research to the transfer of deeds. Whether you are buying or selling a residential property, get in touch with our experienced team for honest and transparent advice and let us take care of your legal stresses.
| Freehold Purchase Price | Our Fee | VAT | Total of our fee and VAT |
|---|---|---|---|
| Less than £300,000 | £675 - £825 | £135 - £165 | £810 - £990 |
| £300,001 to £500,000 | £850 - £950 | £170 - £190 | £1,020 - £1,140 |
| £500,001 to £750,000 | £995 - £1,050 | £199 - £210 | £1,194 - £1,260 |
| £750,001 and over from | £1,050 + | £210 + | £1,260 + |
Additional charge for bank transfer £35.00 (including VAT) per payment Anticipated Additional Disbursements Search fees which can be between £100 - £300 and will vary depending on where you purchase. Land Registry fees which will depend on the purchase price of the property and whether or not the property is registered or unregistered. Stamp Duty Land Tax (England) or Land Transaction Tax (Wales) again this depends on where in the country you purchase a property and whether you have previously owned a property or you own more than one property. Additional sums payable on the purchase of a leasehold property (if applicable and subject to the terms of the Lease) Notice of Transfer fee – approximately £100 - £400 Notice of Charge fee – approximately £100 - £400 Deed of Covenant fee – approximately £100 - £500 Certificate of Compliance fee - £100 - £500 Standard conveyancing fees do not include the following (this list is not exhaustive):-
Our additional charges (charged in addition to the standard conveyancing fee)
Purchase of Leasehold property - £325 plus VAT (£65) = £390
Purchase of a property subject to existing tenancies - £225 plus VAT (£45) = £270
Purchase of a new build property - £250 plus VAT (£50) = £300
Help to Buy Equity Loan - £320 plus VAT (£64) = £384
Help to Buy ISA - £50 plus VAT (£10) = £60.00 for each ISA
The figures quoted are a guideline please telephone the office for a formal quotation. The above is indication of charges on the basis of details presently known and on the assumption that the transaction(s) will not prove to be substantially more complex or time-consuming than expected.
Our hourly rate is currently between £225 - £250 per hour. Should a fixed fee not apply the chargeable hourly rate will be confirmed at the quotation stage and within are client care letter.
| Freehold Sale Price | Our Fee | VAT | Total of our fee and VAT |
|---|---|---|---|
| Less than £300,000 | £650 - £775 | £130 - £155 | £780 - £930 |
| £300,001 to £500,000 | £825 - £900 | £165 - £180 | £990 - £1,080 |
| £500,001 to £750,000 | £950 - £1,050 | £190 - £210 | £1,140 - £1,260 |
| £750,001 and over from | £1,050 + | £210 + | £1,260 + |
Additional charge for bank transfer £35.00 (including VAT) per payment Additional charges (charged in addition to the standard conveyancing fee) Sale of Leasehold property - £325 plus VAT (£65) = £390. Sale of a property subject to existing tenancies - £225 plus VAT (£45) = £270 Anticipated additional disbursements Copy of title from Land Registry (if registered) - £6 (per title) Additional documents from Land Registry (if registered) - £3 per copy Search at Land Registry (unregistered) - £4 Payment to Managing Agents/Landlord for information (if leasehold) - £100 - £400 The figures quoted are a guideline please telephone the office for a formal quotation. The above is indication of charges on the basis of details presently known and on the assumption that the transaction(s) will not prove to be substantially more complex or time-consuming than expected.
Our hourly rate is currently between £225 - £250 per hour. Should a fixed fee not apply the chargeable hourly rate will be confirmed at the quotation stage and within are client care letter.
| Additional fees | Our Fee | VAT | Total of our fee and VAT |
|---|---|---|---|
| New build purchase | £250 | £50 | £300 |
| Leasehold sales and purchases | £325 | £65 | £390 |
| Right to Buy | £200 | £40 | £240 |
| Lease extension | £850 | £170 | £1020 |
| Gifted deposit on purchase (up to 2 people) | £75 | £15 | £90 |
| Legal Charge (CT1) | £575 | £115 | £690 |
| Trust Deed | £150 | £30 | £180 |
Conveyancing is the term lawyers use to describe the legal process of transferring ownership of land and any buildings built on it.
Conveyancing is a crucial part of the buying and selling process, which involves legally transferring home ownership from a seller to a buyer. Your solicitor will carry out the conveyancing on your behalf, and they will be happy to go into more detail with you, but here is a simple guide to lead you through what happens and when.
When house hunting or house selling it is important to do some research into the Conveyancing firm you wish to use, so that once things are ready to move forward, the process, which in the early stages can often move quickly, can be as streamlined as possible.
Once an offer is accepted
At this point, you should immediately instruct your Solicitor.
There are a number of matters that need to be addressed before any exchange of contracts can go ahead. There are four key things which need to be done:
Once the above have been carried out, the buyer will receive a written report from their solicitor explaining the contract, search results and the mortgage offer in detail.
During this part of the process, the buyer’s solicitor will draw their attention to any problems before an exchange of contracts. The buyer’s solicitor will usually also send the mortgage deed to the buyer for signature at this time.
Exchange of Contracts
Contracts will be signed by the respective parties in readiness for exchange of contracts.
The contract is legally binding on both parties once exchange of contracts has taken place. The completion date will be set at this time. If either party refuses to proceed with the transaction or they delay and do not complete on the agreed completion date, then they will be liable to pay compensation to the other party.
Once exchange has taken place, the buyer’s solicitor will apply to the mortgage lender for money to be released in time for the completion date. They will also carry out other searches to ensure the seller hasn’t entered into any other contract or obtained another mortgage on the property. The solicitor will ask the buyer to settle his account prior to completion.
Completion
On the completion date the buyer’s solicitor will ensure that the balance of the purchase price is paid to the seller’s solicitor as early as possible, so the keys are released - usually around early afternoon.
After Completion (known as Post Completion)
There will be some loose ends for the buyer’s solicitor to tie up, including paying Stamp Duty Land Tax (LTT in Wales), and arranging for the registration of the title at HM Land Registry. It may also be necessary to serve notices on a landlord or the bank or building society, to advise them about the completion.
The solicitor will send a copy of the registered title to the buyer and their mortgage lender. They will also notify the freeholder, if the property is leasehold.
Timescales
A simple transaction with no complications will generally take between 10-12 weeks. However, we do advise our clients that complications can arise that will be outside of your and our control. This could include complications such as:-
We will always do our best to keep your transaction on track and moving forward and will communicate with you at all times if we can foresee that delays will be possible. Usually, these will be totally outside your or our control. This can be a difficult and stressful time in your life and will possibly be the biggest purchase you ever make, and our best advice is to be realistic and allow yourself freedom and flexibility on your moving date. Please be reassured that we will be doing our best for you at all times.
This actually means much less than it used to. The legal effect of “subject to contract” on an estate agent’s notice board is very little.
Before 1989 the phrase was used to prevent a binding contract being formed between the seller and buyer by accident. In 1989 Parliament passed legislation to prevent that from happening so the wording is in reality redundant. However, many estate agents and lawyers still use “subject to contract” to make sure that everyone is aware that whilst an offer has been made on the property and the legal process is being dealt with, there is actually no binding contract in force.
Title Deeds are the documents which prove you own the property you say you own. Since it has become compulsory to register property at the Land Registry the days of having bundles of title deeds have become a thing of the past – usually now the title deeds consist of a copy of the electronic registers held at the Land Registry.
Searches are enquiries made of various statutory bodies. If you are buying a property with the aid of a mortgage, then your lender will insist on various searches being carried out before it will lend any money.
Even if you are not having a mortgage, we strongly advise that you have searches carried out – because once you own the property you will be bound by any matters which affect the property and would have been revealed by those searches, whether you knew about them or not!
This is an offer usually made by a bank or building society, to lend money to someone to assist in the purchase of a property.
This used to be called “Stamp Duty” and is also now referred to as SDLT. It is the tax that the Government levies on the purchase of land – including houses and flats. If the purchase price is in excess of £125,000.00 then SDLT becomes payable at 1% of the total purchase price. If the price exceeds £250,000.00 then the rate increases to 3%. At £500,000.00 the rate increases to 4% and for properties with a price of over £1m the rate is 5%.
There are some exemptions for first time buyers and for properties in depressed housing areas – we can advise if you qualify for any of the exemptions or reliefs available.
This is the date on which you entitled to move into the property. It doesn’t matter whether you actually move in on that day, but it’s the day on which your ownership of the property starts.
If you are buying a property, the professionals at Kundert Solicitors will ensure all legal matters are taken care of. We manage every aspect of your transaction from start to finish. Right from advice on surveys to financial enquiries and mortgage conditions, let us take care of your needs. If you are a seller, we will draw up the necessary forms and lists to assist with a smooth sale.
Need advice on estate agent’s fees and agreements? Talk to us today. Our services also include:
