With the Renters Reform Bill aiming to strengthen tenants’ rights, and interest rates and economic pressures squeezing property investment returns, more and more landlords are leaving the private rental market....
What does our service include?
Our services cover all of the work required to complete the sale of your residential property including preparing a contract pack and dealing with all enquiries raised by the buyer’s conveyancers.
The precise stages involved in a residential property sale vary according to the circumstances, however, our service typically includes:
- Taking your instructions and giving you initial advice
- Preparation of contract documents
- Dealing with all enquiries raised
- Sending the final contract to you for your signature
- Agreeing a completion date (date from which the property will be transferred to the buyer)
- Exchange contracts
- Approving the buyer’s conveyancer’s draft Transfer Deed
- Sending the final Transfer to you for your signature
- Completing your purchase
- Arranging for the repayment of any existing mortgage, paying the agent’s fees and paying to you the net sale proceeds
How long will your sale take?
How long it will take from you accepting an offer until you can complete the sale of your property will depend on a number of factors. The average standard transaction takes between 10 and 12 weeks. Examples of a non standard transaction include:
- Leasehold properties
- Unregistered properties
Other factors which may delay your sale may include other people in your chain and the lender.
Who will act on your behalf?
Your matter will be undertaken by a member of our Residential Conveyancing team. You can view their profile pages by visiting our Meet the Team page. We welcome your request for a specific member of the Residential Conveyancing team to act on your behalf but please note this may not always be possible i.e. we may decide another Solicitor/Conveyancer has more appropriate skills for your matter.
How will your matter be supervised?
All our Residential Conveyancing matters are supervised by Lucy McCallum who is our Head of Residential Property Conveyancing.
How much will we charge you?
We will charge you a fixed fee based upon your transaction. We will assess this with you at the beginning of the matter based upon the below guidance:
Our Legal Fees
Our Fee is based on the Property Value:
Up to £200,000 Our total fee inc. VAT: £1,500 Total ex. VAT: £1,250
£200,001 to £300,000 Our total fee inc. VAT: £1,620 Total ex. VAT: £1,350
£300,001 to £400,000 Our total fee inc. VAT: £1,740 Total ex. VAT: £1,450
£400,001 to £500,000 Our total fee inc. VAT: £1,860 Total ex. VAT: £1,550
£500,001 to £750,000 Our total fee inc. VAT: £1,980 Total ex. VAT: £1,650
Over £750,000 Our total fee inc. VAT: By agreement – Click here to contact
You will also be required to pay Fees for the following:
- ID Search – Our total fee inc. VAT: £24 Total ex. VAT: £20
- SDLT administration fee if we are submitting your SDLT return on your behalf Total inc. VAT: £120 Total ex. VAT: £100
- Bank transfer fee for a three-day payment using BACs Total inc. VAT: £24 Total ex. VAT: £20
- Bank transfer fee for a same-day payment using CHAPs Total inc. VAT: £48 Total ex. VAT: £40
Additional fees may be charged if your matter involves:
- Voluntary First Registration Total inc. VAT: £900-£1200 Total ex. VAT: £750-£1000
- A Leasehold Property Total inc. VAT: £420 Total ex. VAT: £350
- A Freehold Management Company Total inc. VAT £150 Total ex. VAT £125
- A Shared Ownership Leasehold Fee Total inc. VAT: £594 Total ex. VAT: £495
- Help to Buy Shared Equity Fee Total inc. VAT: £300 Total ex. VAT: £250
- New Build Property Fee Total Inc. VAT: £300 Total ex. VAT: £250
- Help to Buy ISA (per person) Total inc. VAT: £60 Total ex. VAT: £50
- Us liaising with your lender Total inc. VAT: £24 to £180 Total ex. VAT: £20-£150
- Us organising Indemnity Insurance Policy Total inc. VAT: £36 Total ex. VAT: £30
- Lawyer Check Total inc. VAT: £21.6Total ex. VAT: £18
- Drafting additional deeds or other documents required e.g. a Deed of Variation Total inc. VAT: £900-£1200 Total ex. VAT: £750-£1000
- Purchase by auction: By agreement
What will we pay to third parties on your behalf?
In the majority of sales, we expect to pay the below third-party expenses on your behalf.
It is important you note we do not make any money from these payments.
Land Registry fee to register the sale of the property £14 VAT FREE
Will we pay referral fees for you instructing us?
Certain work introducers, such as Estate Agents, have agreed on a referral fee with the firm. This means we make a payment to the referrer. It is important to note you only pay our Legal Fees and we in turn pay the agents from our Legal Fees.
What happens if your matter becomes abortive?
We charge all clients an abortive fee dependent on the percentage of the work we have completed (i.e. we will charge 75% of the fee if we have completed 75% of the work) plus any third-party payments incurred on your behalf.
I have nothing but praise for all of the people I have dealt with over the years. Nothing has been too much trouble and I would have no hesitation in recommending them.P. Browne
A very thorough and professional company. Always found staff to be very approachable, helpful and very clear in their explanations of all options available to me. Would strongly recommend WSP.D. Maton
WSP is the one-stop superstore for all your legal requirements. It is staffed with friendly, professional and expert people who are a pleasure to deal with. As a long term user of the company I always recommend WSP to all of my friends based on my own happy experience.D. Wilkins