Residential Property

1. Introduction

At Barton Legal we aim to be as transparent as possible with regard to our costs. This Residential Pricing Policy explains our costs in relation to residential property work. This includes:

• Freehold sale or purchase
• Leasehold sale or purchase
• Mortgage or re-mortgage 

The policy includes the fixed fee services that we offer and information on additional costs and taxes that may be payable.

All residential conveyancing work is either carried out or closely supervised by Trish Barton, a solicitor with over 20 years’ experience of a wide variety of commercial and residential property work.

2. Value Added Tax (VAT)

VAT (at the current rate of 20%) is payable in addition to the price displayed, as set out below.

3. Our Charges

We aim to provide a fixed fee for residential sales and purchases. This would only increase in the event of unforeseen factors as set out below.

Our fees are chargeable even if the matter is not completed.

Whilst we do always aim to keep your costs to a minimum, certain factors do typically increase our costs. These factors include, but are not limited to:

• Issues in relation to defective titles
• Property that is not yet registered at the Land Registry
• A discovery that building regulations or planning permission has not been obtained
• A delay in receiving crucial documents
• Unforeseen issues with a buyer’s lender

The precise stages involved in the purchase or sale of a residential property vary according to the circumstances and whether it is freehold or leasehold. Some key stages are outlined below:

Purchase

• Take your instructions and give you initial advice
• Check finances are in place to fund purchase
• 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
• Arrange for contract to be signed
• Draft Transfer
• Advise you on joint ownership if appropriate
• 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 from you
• Complete purchase
• Deal with payment of Stamp Duty Land Tax
• Deal with application for registration at Land Registry

Sale

• Obtain up to date official copies of the title and any additional documents from the Land Registry
• Prepare Property Information and Fittings and Contents Forms and obtain EPC
• If the property is leasehold, then a leasehold information form and leasehold property enquiries form are required in addition and this requires liaison with the owner of the freehold or management company as appropriate
• Draft contract and submit contract pack to buyer’s solicitor
• Deal with all enquiries and the provision of any additional information/clarification
• Approve the draft Transfer
• Arrange for contract and Transfer to be signed
• Liaise with buyer’s solicitor to agree completion date
• Liaise with lender as to redemption of mortgage
• Exchange contracts and notify you that this has happened
• Finalise figures for redemption of mortgage
• Provide information required for completion and undertakings form
• Complete purchase and redeem mortgage

4. Our Fixed Prices (Showing VAT at the current rate of 20% but subject to any additional fees, plus disbursements)

     Freehold Sale                                               £1,500.00 plus VAT of £300.00

     Freehold Purchase                                       £1,600.00 plus VAT of £320.00

     Leasehold Sale                                             £2,000.00 plus VAT of £400.00

     Leasehold Purchase                                     £2,100.00 plus VAT of £420.00

     Mortgage/re-mortgage                                  £1,200.00 plus VAT of £240.00

5. Additional Fees and Disbursements

Our fees cover all of the work required to complete your purchase. In addition to our fees, there are a number of additional costs and disbursements which you may need to pay.  In some cases, VAT is payable on disbursements (further details are set out below).

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. We will inform you of the specific fees that are applicable to you.

An indication of the additional fees and disbursements which may apply are set out below. This list is not exhaustive and other fees and disbursements may apply, depending on the circumstances:

These fees vary from property to property and can on occasion be significantly more than the prices given above. We can give you an accurate figure once we have sight of your specific documents.

*The amount of Stamp Duty Land Tax depends on the purchase price of your property as well as other factors such as whether you are a first-time buyer or own other properties. You can calculate the amount you will need to pay by using the links below:

If the property is in in England https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

If the property is in Wales https://beta.gov.wales/land-transaction-tax-calculator

If the property you are buying is leasehold, you should also be aware that there are likely to be additional charges. These vary from property to property but may include:

• Fee payable to the freeholder for registration of Notice of Transfer of the leasehold title. This fee if chargeable is set out in the lease.
• Fee payable to the freeholder for registration of Notice of Charge – if the property is to be mortgaged. This fee if chargeable is set out in the lease.
• Deed of Covenant fee – this is a document by which you promise to comply with the obligations under the Lease. The fee is usually charged by the management company for the property and can be difficult to estimate.
• Certificate of Compliance fee – this fee will be confirmed upon receipt of the lease.
• 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 this we receive this information.

If you would like an explanation of any of these fees, please contact us using the contact details in section 7 below.

6. How Long Will the Purchase Take

How long it will take from your offer being accepted until completion of the sale or purchase will depend on a number of factors. The average process takes between 6-8 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer with a mortgage in principle, it may be shorter than if you are buying a leasehold property that requires an extension of the lease. In such a situation, additional charges would apply.

As outlined in section 3 above, where additional charges do apply, we will ensure that you are kept up to date with all costs and where possible, an explanation as to the cause of the delay. 

7. Supervision

All residential property work is carried out by or under the supervision of Trish Barton (please click the link for full profile and areas of expertise).

8. Contact

Telephone: 0113 202 9550

Email: leeds@bartonlegal.com