On Sunday 17th September, Amanda Perrins took part in a very wet Memory Walk to raise for the...
Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying and selling leasehold property.
We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled. Where necessary, we can also recommend other professionals such as Surveyors, IFAs and property valuers, giving you access to all the expertise you need.
At a time where money really matters, we take care to provide a high quality, value-for-money service you can rely on. We will keep you regularly advised of every detail you need to know so you can make informed decisions and conclude your leasehold property transaction promptly and with the minimum possible stress and hassle.
Why Us
We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property. Our approach is a simple – we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with all the details of your transaction on your behalf.
We know that communication is key, especially when dealing with the complex issues that can sometimes be involved with leasehold property. Our team are made up of highly qualified Solicitors who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.
You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have.
We realised that this is potentially the biggest investment of your life and we not only want to provide the first-class service you deserve, but also real value for money with no hidden fees.
We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care.
Pricing
We know how important cost is when deciding who to use for leasehold conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.
We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If you are purchasing with the assistance of a mortgage, we can also act for your mortgage lender at no additional cost to you as we are a member of many mortgage lender panels. If, during the transaction, a wholly unexpected and unusual issue arose which did not fall within the fixed fee arrangement, we would discuss any change in fees with you before proceeding further.
Our fees are set out as:
Leasehold Residential Property
Our fees cover all the work required to complete the purchase of your new home, including 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 is in Wales
| Item | Amount | Fee | VAT | Subtotal |
|---|---|---|---|---|
| Legal Fees | £0 - £100,000.99 | £800 | £160 | £940 |
| £100,001 - £150,000.99 | £850 | £140 | £990 | |
| £150,001 - £200,000.99 | £900 | £180 | £1080 | |
| £200,001 - £250,000.99 | £950 | £190 | £1,140 | |
| £250,001 - £300,000.99 | £1,000 | £200 | £1,200 | |
| £300,001 - £350,000 | £1,050 | £210 | £1.260 | |
| £350,001 - £450,000 | £1,075 | £215 | £1.290 | |
| £450,001 - £500,000 | £1,100 | £220 | £1,320 | |
| £500,001 - £575,000.99 | £1,200 | £240 | £1,440 | |
| £575,001 - £625,000.99 | £1,250 | £250 | £1,500 | |
| £625,001 - £700,000.99 | £1,350 | £270 | £1.620 | |
| £700,001 - £750,000.99 | £1,450 | £290 | £1,740 | |
| £750,001 - £800,000.99 | £1.500 | £300 | £1,800 | |
| £800,001 - £900,000.99 | £1,550 | £310 | £1,860 | |
| £900.001 - £1,000,000.99 | £1,650 | £330 | £1,980 | |
| £1,000,001 - £1,200,000 | £1750 | £350 | £2,100 | |
| Bespoke Quote Required | £1,200,000 |
Disbursements
Disbursements are any 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.
| Item | Amount | Fee | VAT | Subtotal |
|---|---|---|---|---|
| ID Check for overseas clients or donors (per person) | £25 | £5 | £30 | |
| Telegraphic Transfer Fee | Per payment | £30 | £6 | £36 |
Land Registry Fee. Submitted via the Land Registry portal and is a transfer of whole title. (To register part of a registered title will incur higher Land Registry fees)
| £0 - £80,000 | £20 | £4 | £24 |
| £80,001 - £100,000 | £40 | £68 | £38 | |
| £100,001 - £200,000 | £100 | £20 | £120 | |
| £200,001 - £500,00 | £150 | £30 | £180 | |
| £500,000 - £1m | £295 | £59 | £354 | |
| £1,000,001 and over | £500 | £100 | £600 | |
| Bankruptcy Search (per person) | £2.00 | £0.40 | £2.40 | |
| Land Registry Search Fee (OS1) | £3.00 | £0.60 | £3.60 | |
| Nationwide Conveyancing Search Pack which includes: Regulated authority search Official Water and drainage search Groundsure Homebuyers report (Environmental Searches including Flood Data) | £198.35 | - | £198.35 |
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 term of the lease. We will update you on specific fees upon receipt and review of the lease from the seller’s solicitors.
Anticipated Disbursements*
Item | Range from | Range to | Plus VAT |
|---|---|---|---|
Notice of Transfer fee, this fee if chargeable is set out in the lease. Often the fee is: | £10.00 | £400.00 | £2 - £80 |
Notice of Charge fee (if the property is to be mortgaged), this fee is set out in the lease. Often the fee is: | £10.00 | £400.00 | £2 - £80 |
Deed of Covenant fee, this fee is provided by the management company for the property and can be difficult to estimate. Often the fee is: | £10.00 | £300.00 | £2 - £60 |
Certificate of Compliance fee – to be confirm upon receipt of the lease, as the range can be | £10.00 | £200.00 | £2 - £40 |
* These fees vary from property to property and can on occasions 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 charges 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.
Expense for Electronic Client Onboarding
| Item | Fee | VAT | Subtotal | |
|---|---|---|---|---|
Admin ID Check | £20 | £4 | £24 |
Our eCOS solution allows you to onboard you using an intuitive online interface which includes Verification of Identity (VOI), Verification of Funds (VOF) and Property Information Forms, TA6, TA7 and TA10. By using this solution not only will you enjoy a seamless onboarding process therefore enhancing your client experience, it will also assist in progressing the Conveyancing transaction much sooner.
Stamp Duty Land Tax
Land Transaction Tax (Welsh properties) and Stamp Duty Land Tax (English properties)
Different rates apply in England and Wales.
How much Land Transaction Tax will I have to pay?
A Purchaser must pay Land Transaction Tax LTT if you buy a property or land over a certain price in Wales.
Land Transaction Returns are required for all transactions over £40,000.00.
The following are exempt from requiring a Land Transaction Return:
-Transfers pursuant to matrimonial court order
-Dispositions on death
You pay the tax when you acquire a chargeable interest:
- buy a freehold property
- buy a new or existing leasehold property
- buy a property through a shared ownership scheme
- are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
Submission of and Land Transaction Return and /or payment of Land Transaction Tax can also be triggered by granting an easement over land, the right to receive ground rent or have the benefit of a restrictive covenant or an option over the land is to be granted to you. This is not a full list and we will provide you with guidance.
These are the current rates and bands: Land Transaction Tax rates and bands GOV.WALES
Essentially for residential property this is 0% up to £225,00.00 then is banded and rated as the purchase price increases:
| Transactions with an effective date on or after 10 October 2022 | |
|---|---|
| Price threshold | LTT rate |
| The portion up to and including £225,000 | 0% |
| The portion over £225,000 up to and including £400,000 | 6% |
| The portion over £400,000 up to and including £750,000 | 7.5% |
| The portion over £750,000 up to and including £1,500,000 | 10% |
| The portion over £1,500,000 | 12% |
Second Homes and buy to lets have higher rates applied if the property is £40,000.00 or over.
Companies buying residential properties pay the residential higher rates
Trusts buying residential properties may have to pay the residential higher rates.
There are different rates for commercial property.
There are different rules if you already own one or more residential properties and you may need to pay the higher residential rates. However, if you are replacing your main residence the higher rates may not apply.
We would advise you to take a look at the Welsh government’s LTT calculator to assess how much tax you will have to pay.
How much stamp duty will I have to pay?
A Purchaser must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.
You pay the tax when you acquire a chargeable interest:
- buy a freehold property
- buy a new or existing leasehold property
- buy a property through a shared ownership scheme
- are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
These are the current rates and bands: THEY DIFFER FROM WELSH RATES : Stamp Duty Land Tax: Residential property rates - GOV.UK (www.gov.uk)
The SDLT Threshold is 0% for residential properties is £250,00.00 and the rates increase across bands as the purchase price increases.
If the purchase is property for less than the threshold, there’s no SDLT to pay.
Purchases of additional properties such as second Homes and buy to lets have higher rates applied if the property is £40,000.00 or over. An additional 3% tax is applied on top of the standard rate tax.
First Time Buyer Relief exists for English properties up to £425,00.00. SDLT is charged at 5% on the portion from £425,001 to £625,000. You’re eligible if you and anyone else you’re buying with are first-time buyers. If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before but property is worth £625,000.00 or less. This does not exist in Wales.
The SDLT threshold is £150,000 for non-residential land and properties
Non UK residents are subject to a 2% surchange on top of normal rates for properties in England. Rates of Stamp Duty Land Tax for non-UK residents - GOV.UK (www.gov.uk)
Purchases by companies and investment schemes pay 15% on residential properties costing more than £500,000. Reliefs are available.
We would advise you to take a look at the HMRC website Stamp Duty Land Tax calculator to assess how much tax you will have to pay.
Exclusions
We do not undertake tax advice.
Please note that neither hpjv solicitors or the search companies will physically inspect the property and our role relates to the conveyancing on the legal title to you and reporting on the search results. We advise you to instruct a surveyor to investigate the structure and services at the property and report to you on any issues and/or identify any works required prior to you entering into a legal commitment to purchase the property.
We are not qualified to offer any advice as to the height, construction, structural, building safety or fire safety of the property or buildings and you are advised to seek advice from a surveyor qualified in this area. We are therefore not able to offer any advice on these issues so you must exercise your own due diligence and consult an appropriate professional.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If the property is a new build
- If the property is less than 10 years old
- If you require to exchange within 6 weeks of instructing us
- If you require completion within 6 weeks of instructing us
- If you require simultaneous exchange and completion
Time Scales
For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved. The average process takes between 12-14 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 36 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 7 months. In such, a situation additional charges would apply.
Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise, including (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
hpjv Solicitors App
We know our clients lead busy lives and would prefer to have the option to catch up on the progress of their conveyancing in their own time. With our hpjv Solicitors app, you can follow the progress of your matter with clearly defined milestones, make payments and provide ID electronically, and can correspond directly with your solicitor at a time that suits you. We pride ourselves on providing an efficient and seamless service with our clients at the heart of what we do and this app has been designed to keep you updated by providing live matter information whenever a task is completed by us, saving you unnecessary time spent on phone calls and emails.
Additional Work
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above which are based on a standard transaction.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If the property is a new build
- If the property is less than 10 years old
- There is more than one secured charge to redeem or register
- Funds being supplied by third parties
- Dealing with a freehold estate management company to include obtaining and reviewing their sales pack and complying with their requirements upon transfer/sale/purchase of a property.
Where there is likely to be any additional work leading to an increase of costs, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs are set out below.
| Additional Fees for freehold and leasehold | Fee + VAT (£) |
|---|---|
| Unregistered Title £200.00 | 240.00 |
| Bank Transfer Fee £30.00 | 35.00 |
| ID Admin Fee £20.00 | 24.00 |
| Purchase or sale more than one title, subject to minimum of per title £75 | 90.00 |
| Dealing with Freehold management company £200.00 | 240.00 |
| Mortgage Admin Fee (on purchases and transfers of equity) £150.00 | 180.00 |
| LTT/SDLT form admin fee £50.00 | 60.00 |
| Help to Buy ISA/Lifetime ISA (per one on purchases) £50.00 | 60.00 |
| Help to Buy Wales Ltd admin fee on purchases £200.00 | 240.00 |
| Shared Ownership schemes £200.00 | 240.00 |
| New Build Admin fee (on purchases) £200.00 | 240.00 |
| Deposit as a Gift on purchases and transfers of equity) £100.00 | 120.00 |
| Drafting a Deed of Trust £300.00 | 360.00 |
| Drafting Transfer of Part, subject to minimum of £700.00 | 840.00 |
| Drafting Statutory Declaration £100.00 | 120.00 |
| Dealing with solar panel lease on purchase/transfer £175.00 | 245.00 |
| Dealing with third party solicitors, per set £175.00 | 245.00 |
| Dealing separately with co-owner/their solicitors per party £175.00 | 245.00 |
| Fee for effecting indemnity insurance, per policy £30.00 | 35.00 |
| Dealing with removal of notices, restrictions, cautions per entry £100.00 | 120.00 |
| Purchase from a mortgagee in possession £200.00 | 240.00 |
| Dealing with retentions post completion, subject to a minimum of £50.00 | 60.00 |
Key Milestones
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and giving you initial advice
- Checking finances are in place to fund purchase and contacting lender's solicitors if needed
- Receiving and advising on contract documents
- Carrying out searches
- Obtaining further planning documentation if required
- Making any necessary enquiries of seller's solicitor
- Giving you advice on all documents and information received
- Going through the conditions of your mortgage offer
- Sending the final contract to you for signature
- Draft Transfer
- Advising you on joint ownership
- Obtaining pre-completion searches
- Agreeing a completion date (the date from which you own the property)
- Exchanging contracts and notifying you that this has happened
- Arranging for all monies needed to be received from lender and you
- Completing purchase
- Dealing with payment of Stamp Duty/Land Tax
- Dealing with application for registration at Land Registry
