Adam Barnes Residential Property Solicitor
- [email protected]
- 01432 352121
When buying or selling a property or whether this is your first home – at T A Matthews, we understand there are a million and one things to consider. Choosing the right solicitor for you is one of your most important decisions, which is why we look to making that choice simple and straight forward. At the outset you will have a dedicated member of our team who will guide you through the process from beginning to end.
Head of our conveyancing team is Adam Barnes, based in our Hereford Office. Conveyancing in our Leominster Office is dealt with by Roland Pryke . Together they have a wealth of experience, particularly in the local and neighbouring areas.
The costs you incur will vary depending on the type of service you require. Typically, it is based on the purchase price of the property. At T A Matthews we provide a fixed fee quotation and our fees will cover the work required to complete the conveyancing. We will make it clear from the outset what is included and what is not included in our costs.
The fee we provide will only change should your instructions to us change. This will give you the peace of mind when budgeting.
These are a disbursement payable on a property purchase. Stamp Duty Land Tax (SDLT) is payable when the property is in England, and Land Transaction Tax (LTT) when the property you wish to buy is in Wales. This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here. Please note that if the purchase will result in you owning an additional property, then higher rates of tax will apply.
Typical assumptions made when quoting costs:
Please note that in leasehold sales, you are required to provide the buyer with “pre-sale” enquiries (often in form LPE1) answered by the Landlord and/or Management Company. The costs of providing this information vary from nothing to upwards of £500.00. We do require these funds on account from you and will advise you of the figure when we know it.
The average process, on a residential sale, takes between 8-12 weeks. It can be quicker or slower, depending on the parties in the chain. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, and in our experience can take between 4 and 6 months. In such, a situation our rate may change. However, you will be informed of any changes and the impact these may have on our charges.
The precise stages involved in the purchase of a residential property vary according to your circumstances, but key stages include:
Our standard remortgage fee is £350.00 + VAT. If this also involves a transfer of equity, then an additional fee of £100.00 + VAT applies.
A standalone transfer of equity (with no mortgage involvement) is £350.00 + VAT.
Additional remortgage fees, from one to two owners, assuming borrowing £100,000.00.
£6.00 approx. copy title
£20.00 HM Land Registry registration fee (or £40.00 if your property is not yet registered)
£7.00 HM Land Registry searches (subject to change if your property is not yet registered)
A bank transfer fee of £30.00 + VAT will apply if we are required to repay any existing mortgage. This will depend on instructions from your lender.
Total of costs, VAT and disbursements £513.00
Searches may be required, as in the purchase example above, but many lenders will be content with indemnity insurance, which using the above figures will be circa £20.00.
Many are surprised to learn that transfers of equity may attract SDLT/LTT, and we will advise you if this is the case.
Whether you are buying or selling a house or re-mortgaging, it can prove to be a stressful time. At T A Matthews, our experienced and well established Residential Property team are here to ensure that it is as smooth as possible.Find out More