Translate:
EN
Translate:
Our panel of expert conveyancing firms handle many conveyancing matters each month and are competent in completing your conveyancing needs faster by co-ordinating with all parties and they help you move faster.
Using Online Conveyancing 4U, you can save yourself both time and money. Our panel of experienced conveyancing firms offer fair priced, fixed fee conveyancing quotes so you can budget and know exactly what you are paying for.
If you are selling a home you need to hire a conveyancing solicitor or a conveyancer to handle the legal aspect of the selling process. Our panel of solicitors specialise in property transactions.
Conveyancing Fees
The Legal fees the conveyancer or the solicitor charges for doing the work called as Conveyancing Fees. The conveyancing fees for Leasehold properties are higher than Freehold Properties.
Disbursements
The associated costs your solicitor needs to pay to third parties in relation to selling your home is called as Disbursement costs.
The main disbursements related with your sale are
ID Check
These are legal checks that need to be carried out to verify your identify that are part of anti-money laundering regulations. They are usually carried out online which will confirm the details on your ID documents match up with other independent data sources.
Costs about £8 although foreign nationals and those living abroad need further and more expensive checks.
Title Deeds
While selling your home the solicitors need to get a copy of the Title Deeds, a series of documents(including a plan) that prove you own the property. They are most likely to be held by the Land Registry. A basic set of documents should cost £6 and any additional documents costs £3 each. The title deeds for leasehold properties costs higher.
Bank Transfer or Telegraphic Transfer Fee
Mortgage companies require funds to be transferred using a Telegraphic Transfer which is designed to guarantee that funds reach an account on a certain day.
If you are selling your home, the funds are transferred to your bank to redeem your mortgage. The solicitor will charge a fee for performing the transfer and the fees the bank charges between £25 and £ 45 for the transaction.
If you are buying a home you need to hire a conveyancing solicitor or a conveyancer to handle the legal aspect of the buying process. Our panel of solicitors specialise in property transactions.
Conveyancing Fees
The Legal fees the conveyancer or the solicitor charges for doing the work called as Conveyancing Fees. The conveyancing fees for Leasehold properties are higher than Freehold Properties.
Disbursements
The associated costs your solicitor needs to pay to third parties in relation to buying your home is called as Disbursement costs.
The main disbursements related with your purchase are
ID Check
These are legal checks that need to be carried out to verify your identify that are part of anti-money laundering regulations. They are usually carried out online which will confirm the details on your ID documents match up with other independent data sources.
Costs about £8 although foreign nationals and those living abroad need further and more expensive checks.
Bank Transfer or Telegraphic Transfer Fee
Mortgage companies require funds to be transferred using a Telegraphic Transfer which is designed to guarantee that funds reach an account on a certain day.
If you are buying your home, the funds are transferred to seller's solicitors. The solicitor will charge a fee for performing the transfer and the fees the bank charges are between £25 and £ 45 for the transaction.
Searches
Searches are a way of gathering information about a property you intend to buy and the area surrounding it. The minimum searches are local searches, drainage search and an environmental search. You can also get a planning search that shows what development is going to take place in your area and extra searches to find out whether the property is affected by environmental issues such as coal mining.
You solicitor will choose the right package for you, the search will cost between £ 99 and £ 300.
Stamp Duty Land Tax
Stamp Duty and Land Tax is payable if you are buying a residential property costing more than £125,000. It is charged on a progressive slide scale which means you pay stamp duty on the part of the property price in each tax band.
Registration of Title
On completion a fee is paid to the Land Registry for transferring names, the cost varies on the value of the property.
Completion Date
This is the agreed date on which you are able to take possession of your property, and the date when the balance of the purchase monies is paid to the Sellers Solicitors.
Contract
This is the agreement in duplicate one signed by the Seller and the other by the buyers to buy and sell property which when exchanged is legally binding for the sale and purchase of the property at an agreed price with a fixed completion date.
A deposit is paid on exchange of contracts by the buyer to the seller via the solicitors which is usually 10% of the purchase price.
Disbursements
Monies paid to your Solicitor to be paid over to a third party.
Exchange of Contracts
This is when the agreement to buy and sell property becomes legally binding with a completion date fixed.
A list of contents etc to be included in the sale price and it will also list items which will be removed.
Freehold
This means the property is in complete ownership of the land.
Land Registry
Is the department which registers title to land in England and Wales and provides guarantee title to registered Estates and interests in land.
Leasehold
A leasehold estate is an ownership of a temporary right to land or property.
Legal Fees
The monies paid to the Solicitors as their fees.
Local Authority Search
Local authority search is a report about the property and its surrounding area.
Mortgage
The Bank, Building Society or any other establishment or person who lends money to be used towards the purchase price of a property.
Mortgage Deed
The legal document which acknowledges the debt signed by the borrower and registered as a charge against the property on the legal title at the Land Registry.
Mortgage Fees
Any monies charged by the mortgagor to arrange the mortgage.
Property Information Form
A form to be completed by the Seller providing details about the property which are personally known to the Seller as an occupier of the property. Misinformation given on this document could be sued on.
Redemption
The monies due to the mortgagor to pay off a mortgage on a property and the document acknowledging payment is produced to the Land Registry for removal of the charge on a legal title.
Redemption Fee
A fee which may be charged by the lender for their administration costs in dealing with redemption of the mortgage.
SMS Updates
This is when you receive updates by text message directly to your mobile phone. This is usually done on the key stage of a conveyancing case.
Stamp Duty
Stamp Duty is a Government tax paid to the Inland Revenue which applies to the purchase of the property over the set value. All transfers of property have to be declared to the Inland Revenue and there are time limits for doing this after completion of the purchase.
Survey
Before you buy or sell a house it is important to get a report about the property’s overall condition. This report is known as a survey and there are different types. The mortgage lender will always insist on a survey or valuation of the property.
Title Deeds
Old documentation relating to the legal title of the property prior to the registration of title at the land registry.
Transfer Deed
The document on the sale of property transferring the property from the Seller to the Buyer.
Water Drainage Search
A search on how the property is connected to the main water supply, how the property is charged for water usage, if connected to the sewer, if the property close to any affected water, location of the nearest wastewater works and water quality information.
Terms and Conditions, Privacy, Data Protection and Copyright © Online Conveyancing 4U Limited.
Email: admin@onlineconveyancing4u.co.uk Telephone : 020 3393 2928.
Company Registration Number 11240289, ICO Registration Number : ZA371702