Residential Property

We offer a range of residential property services, both for individuals and businesses.

Our Residential Property services include:

Residential Conveyancing

Mortgages and Re-Mortgages

Transfers of Equity

Lease Extensions

Collective Purchases of Freehold

New Build Sales and Purchases

The cost will depend on your specific case, the value of the property, the services needed and the complexity of the transaction. However, we aim to be transparent with our fees throughout the process. When we provide a quotation for you, we try to provide as much information as possible, so that you have a clear understanding of what the transaction will cost from the start.

How can we help you?

Conveyancing is the work involved in the transfer of legal ownership of land or property from one owner to another or the granting of an interest in a property, such as a mortgage. This includes but is not limited to buying or selling your home or a buy-to-let property.

At Beverley Morris & Co., we understand that this process may prove stressful. However, we work hard to ensure that your transaction runs as smoothly as possible, finding practical solutions to any problem which may arise. We are clear on our fees from the outset, and keep you updated at every stage of your transaction.

When buying or selling a property, the legal work is split into various stages. These include:

1. Investigating the Title

To check that the seller has the right to sell the property and to highlight any other interests that may affect the property.

2. Obtaining Searches of the Property

To reveal whether the property is affected by any potential legal risks and that your proposed use of the property is permitted.

3. Raising Enquiries for Buyers or Responding to Enquiries for sellers

The seller must disclose detailed information about the practicalities of the property. If acting on your purchase, we will raise questions of the seller about the property and pinpoint any legal issues which we consider are likely to affect your use of the property. If acting on your sale, we will deal with any questions raised by the buyer’s solicitor.

4. Exchange of Contracts

You become legally bound to buy or sell the property.

5. Completion

The transaction is legally completed. If you are buying, this is the point at which you are given the keys to the property. If you are selling, you will need to leave the property by this date.

6. Stamp Duty Land Tax

After completion we will deal with payment of Stamp Duty Land Tax.

7. Registration

The transaction will be registered at HM Land Registry.

Please call or email us to request an estimate of costs:

+44 (0)20 8852 4433
enquiries@beverleymorris.co.uk

When you contact us, it would be helpful if you are able to provide the following information:

Buying a Property:

  1. Property address
  2. Purchase price
  3. Type of property (e.g. house, flat)
  4. Amount of any mortgage or other borrowing (including Help to Buy)
  5. What you will use the property for (e.g. main residence, buy-to-let)
  6. Whether you have a related sale

Selling a Property:

  1. Property address
  2. Sale price
  3. Type of property (e.g. house, flat)
  4. Where you have a mortgage, whom it is with and the approximate amount outstanding
  5. Whether you have a related purchase

In addition to our fees, there will be other charges payable to other parties. These are called disbursements.

When Selling:

You will need to make provision for estate agents’ fees and any potential mortgage penalty such as an early repayment charge if you are paying off your mortgage early.

When Buying:

You will need to cover search fees, Land Registry fees and Stamp Duty Land Tax. If you are obtaining a mortgage there may be associated fees which you should consider.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of a leasehold property.

Stamp Duty Land Tax (SDLT) is payable to the Government if you buy a property or land over a certain price in England and Northern Ireland. In Wales the tax payable is Land Transaction Tax (Land Tax). The amount you will need to pay depends upon the purchase price, whether you will be replacing your main residence and, if not, upon how many properties you will own once you have completed the transaction.

Please see the links below to the SDLT and Land Tax calculators which will provide information as to the SDLT or Land Tax payable on your transaction. We would be pleased to provide you with any further assistance you may require in this respect.

www.stampdutycalculator.org.uk
www.beta.gov.wales/land-transaction-tax-calculator

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and the payment of SDLT or Land Tax.

We handle the payment of the disbursements (payments to third parties) on your behalf.

Purchase of a freehold property at a price of £350,000 with mortgage

Legal fee 995.00
Fee for acting for your mortgage lender 150.00
Search fees 160.00
Administration charge for SDLT return 75.00
CHAPS fee 45.00
Online ID verification (£5.00 per name) 5.00
Sub Total 1,430.00
VAT @ 20% 286.00
Disbursements
HM Land Registry fee* 135.00
Land Registry priority search fee 3.00
Bankruptcy search fee (£2.00 per name) 2.00
Total £1,856.00

* This fee is set by the Land Registry and is on a sliding scale. https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Stamp Duty Land Tax / Land Tax

You can calculate the amount you will need to pay by using HMRC’s website or the Welsh Revenue Authority’s website. See our ‘What Is Stamp Duty Land Tax’ section above.

Additional costs for a leasehold purchase

Leasehold supplement fee £195.00

Anticipated disbursements for a leasehold purchase #

Notice of Transfer fee This fee, if chargeable, is set out in the lease and is often between £0 – £250.
Notice of Charge fee If the property is to be mortgaged.  This fee is set out in the lease and is often between £0 – £250.
Deed of Covenant fee This fee is provided by the management company for the property and can be difficult to estimate but is often between £0 and £250.
Certificate of Compliance fee To be confirmed upon receipt of the lease as can range between £0 and £250.

# These fees are set by the management company / freeholder and can vary from property to property. They can, on occasion, be significantly more than the ranges given above and VAT may be charged. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property.

Our fee assumes that:

  1. this is a standard transaction and that no unforeseen matters arise;
  2. the transaction is concluded in a timely manner and no unforeseen complication arise;
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
  4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Our fees cover all of the work required to complete the sale of your home, including dealing with the redemption of your mortgage, if appropriate.

We handle the payment of the disbursements (payments to third parties) on your behalf.

Sale of a freehold property at a price of £350,000 with mortgage

 

Legal fee 995.00
CHAPS fee to remit sale proceeds to you 45.00
Redemption of charge on mortgage 125.00
CHAPS fee to redeem mortgage 45.00
Online ID verification (£5.00 per name) 5.00
1,215.00
VAT @ 20% 243.00
Sub Total 1,430.00
Disbursements
Office copy entry 6.00
Bankruptcy search fee (£2.00 per name) 2.00
Total £1,466.00

Anticipated disbursements

Management pack This fee is set by the managing agent / freeholder and can cost up to £600.

Our fee assumes that:

  1. This is a standard transaction and that no unforeseen matters arise.
  2. The transaction is concluded in a timely manner and no unforeseen complication arise.
  3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
  4. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Prices and disbursements are subject to change dependent on factors including property value.

Our fees cover all of the work required to complete the remortgage / mortgage of your home. We handle the payment of the disbursements (payments to third parties) on your behalf.

Remortgage / Mortgage of a freehold property for a loan of £350,000

Legal fee 600.00
Redemption administration fee per mortgage 100.00
CHAPS fee to redeem existing mortgage 45.00
CHAPS fee to remit monies to you 45.00
Online ID verification (£5.00 per name) 5.00
Search fees 160.00
 955.00
VAT @ 20% 191.00
Sub Total 1,146.00
Disbursements
HM Land Registry fee* (Scale 2) 40.00
Office copy entry 6.00
Bankruptcy search fee (£2.00 per name) 2.00
Total £1,194.00

* This fee is set by the Land Registry and is on a sliding scale. https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Our fee assumes that:

  1. this is a standard transaction and that no unforeseen matters arise;
  2. the transaction is concluded in a timely manner and no unforeseen complication arise;
  3. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

The length of a conveyancing transaction differs from case to case. We do not wish to raise false expectations by promising a precise time frame at the outset, as it is impossible to predict any issues that may arise. That said, we aim to deal with your matter as efficiently as possible and we will always bear in mind any particular time frame to which you might wish to work.

We pride ourselves on our honesty, and will always let you know if we think your goals may not be achievable.

Surveys

While your lender may provide you with a valuation report, this simply confirms to the lender that the property is good security for their loan. The survey will not reveal any other issues that may affect your desire to purchase the property, such as structural problems. We strongly advise you to obtain an independent survey of a property before you purchase.

Planning

If you are purchasing a property but wish to use it for a different use other than that for which it is currently being used or wish to make any changes to the property you might need planning permission. We can advise you further about this.

Solicitors are allowed to pay a referral fee to an estate agent or other person who introduces a client to the firm.  In some cases we pay referral fees from our own funds to the estate agent on the completion of a transaction.

Please be assured, however, that any advice that we give is independent and you are free to raise questions on all aspects of the transaction.  We will advise you at the start of the transaction if we are paying a referral fee.

If you wish to transfer a property from joint names into a sole name or from a sole name into joint names, this is called a ‘transfer of equity’. The process can be different depending on each individual case and type of transfer. If you have a mortgage, you will need to obtain the written consent of your lender to the transfer.

You may also need to pay Stamp Duty Land Tax if you are taking over responsibility for part or all of the existing mortgage on the property.

For more details contact us:

+44 (0)20 8852 4433
enquiries@beverleymorris.co.uk

Yes! To help you with your first purchase, we are delighted to offer you a 10% discount on our basic legal fee. Please quote FB10 when you contact us.

If you are seeking advice about an issue that is not shown above, we may still be able to help. Please call or email us to find out more.
+44 (0)20 8852 4433
enquiries@beverleymorris.co.uk

Residential Property Team

Angela Stanton

Head of Conveyancing
Blackheath Office
Email Angela

Rita Egan

Blackheath Office
Email Rita

Esther Hudson

Blackheath Office
Email Esther

Martin Hopkins

Lewisham Office
Email Martin