Freehold Sale
We charge a fixed fee of £925.00 plus VAT to cover all the work required to complete the sale of your property, from issuing the draft contract documentation, completing the sale and dealing with the proceeds of the sale on your behalf.
Some disbursements will also be payable, which are costs to third parties and vary from property to property. For example, we may need to obtain a copy of your legal title from HM Land Registry, the Land Registry charge £3.00 per document.
If the property is valued at more than £1,000,000 the fixed fee will be no less than 0.5% of the value of the Property. This will be negotiated on a case-by-case basis.
Leasehold Sale
There is additional work involved when selling a leasehold property and additional disbursements will be payable. For example, we will obtain a management pack from your Freeholder or Managing Agent, which will contain information about service charges, ground rent and insurance, typically this can cost between £100.00 to £450.00.
We charge a fixed fee of £1,025.00 plus VAT.
If the property is valued at more than £1,000,000 the fixed fee will be no less than 0.5% of the value of the Property. This will be negotiated on a case-by-case basis.
Stages of the sale process
Pay the amounts required to redeem your mortgage and to settle any outstanding fees:
- Take your instructions and give you initial advice
- Obtain title documents and prepare the draft contract documentation
- Arrange for you to complete property information forms
- Contact your existing Lender to ask for the initial redemption figures and details of such requirements
- Obtain any further planning documentation if necessary
- Respond to any enquiries raised by the purchaser's solicitor and liaise with you about matters that require your attention
- Send the final contract to you for your signature
- Agree the completion date
- Exchange contracts – and notify you that this has happened
- Collect the sale proceeds from the purchaser's solicitor
- Complete the sale of your property
- Pay the amounts required to redeem your mortgage and to settle Gateway Conveyancing Ltd fix fee
- Account to you for the net proceeds of sale
Freehold Purchase
We charge a fixed fee of £975.00 plus VAT to deal with the purchase of your new home. This includes dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales. Some disbursements will also be payable, which are costs to third parties and vary from property to property.
Stamp Duty or Land Tax (on purchase)
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.
How long will my house purchase take
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 6-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation, additional charges would apply.
Stages of the purchase process (freehold)
The precise stages involved in the purchase of your property will vary depending on your circumstances but generally each transaction will consist of the following key stages:
- 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 received
- 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
Leasehold Purchase
We charge a fixed fee of £1,075.00 plus VAT to deal with the purchase of your new home. This includes dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales. Some disbursements will also be payable, which are costs to third parties and vary from property to property.
Disbursements in connection with the purchase of a property
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the terms of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
- HM Land Registry fees
- Search fees
- Electronic money transfer fee
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 – £250.00.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £250.00.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
- Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50 – £250.
These fees vary from property to property and can on occasion be significantly more than the ranges given above. 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. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
Stamp Duty Land Tax
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.
Stages of the purchase process (leasehold)
The precise stages involved in the purchase of your property will vary depending on your circumstances but generally each transaction will consist of the following key stages:
- 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 received
- Go through conditions of mortgage offer
- Send final contract to you for signature
- Draft Transfer
- Advise you on joint ownership
- Obtain pre-completion searches
- 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
Our fee assumes that:
- this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complication arise all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Experience and Qualifications
The firm is supervised by Kerry Coleman, the firm's COLP who qualified as a Solicitor in 2011.