residential conveyancing

Moreland & Co. specialises in all aspects of Residential Conveyancing. Whether you are buying, selling, re-mortgaging or transferring equity, you need legal representation to help you avoid any pitfalls and to make the process as seemingly effortless as possible.

We believe in effective communication between solicitor and client and keeping our clients informed of important stages in the Conveyancing process.

Our team are experienced in dealing with property transactions both locally and nationally and have expertise in:

Sales and purchases of both freehold and leasehold residential property
Auction Sales & Purchases
Leases of commercial property including assignments and surrenders
Lease Extensions
New build property
Buy to Let
Transfers of part
High Value and complex transactions
Right to Buy
Transfer of Equity
Mortgages and Re-mortgages
Joint Ownership and Declarations of Trust
Easements
Help To Buy

We are registered with most of the major Banking and Lending Institutions and often act on behalf of Lenders.

We are accredited with the Law Society Conveyancing Quality Scheme (CQS) kitemark. This is the Law Society’s recognised quality standard for Residential Conveyancing practices and for which we undergo continuous assessment to maintain this status. Hence, our team of experts are committed to providing a comprehensive and quality service to all our clients.

For further information on any of our Residential Conveyancing services, or to make an appointment for an informal first discussion, please call Danny Dionissiou on +44 (0) 20 8364 3677. Alternatively, you can e-mail your enquiry to dnd@morelandlaw.co.uk.

Initial consultations are free of charge.

If you would like to know more about our fees, please click here.

process

On Purchase, We Will:

Take your detailed instructions and give initial advice.
Deal with money laundering and identity check requirements.
Investigate title to the property, its plan, information provided on protocol forms and other documents and raise appropriate enquiries.
Arrange for searches to be undertaken with the Local Authority and with the Drainage/Water Authority. We will also arrange for an environmental search, a Chancel Repair Search as well as any other searches that we deem necessary.
Review any Mortgage Offer and advise you on the legal aspects. We are on the panels of most major lending institutions in the UK. In the rare event that we are not, we would liaise with the lender’s solicitors.
Consider the terms of the draft contract and negotiate favourable terms for you before we approve the same.
Draft the Transfer deed and send it to the Sellers Solicitor for their approval.
Carry out pre-completion administration.
Report to you by way of a full Report on Title on the entire transaction and prepare and send to you a Draft Completion Statement.
Arrange for you to sign the contract and the Transfer Deed and pay the deposit required (usually 10%, but could be lower if your circumstances require that).
When all parties are ready, contracts are then exchanged (when both parties enter into a legally binding contract) and a date for completion is scheduled.
Update and finalise your Completion Statement; Submit a Certificate of Title to your lender (if purchasing with a mortgage) for draw-down of funds; and conduct final searches with the Land Registry and for bankruptcy.
Complete the purchase.
If applicable, prepare and file the stamp duty land tax return and pay any SDLT liability.
Register your proprietorship and any new charges with the Land Registry.

On Sale, We Will:

Take your instructions and give initial advice;
Deal with money laundering and identity check requirements;
Forward to you the Protocol Forms to complete carefully and return;
Unless unregistered, obtain Official Copies of Registers of Title and Plan from the Land Registry;
Request Redemption Statement from any lenders who have registered charges on the property;
Prepare and send to the Buyer’s solicitors a Draft Contract Package, containing a Draft Contract (drafted by us), your completed Protocol Forms and other relevant documents;
Usually, the Buyer’s solicitors will raise enquiries upon the Draft Contract Package and any searches that they may have undertaken, which we will refer to you and provide them with our Replies;
Review, amend (if necessary) and approve the Transfer Form;
When all of the documents are approved, prepare engrossed copies and forward them to you for execution;
Obtain updated Redemption Statements and prepare and send to you a Draft Completion Statement;
Once all outstanding enquiries and issues are satisfied, proceed to exchange of contracts (when both parties enter into a legally binding contract) and a date for completion is scheduled;
Reply to Requisitions on Title;
Update and finalise your Completion Statement and send it to you;
Upon receipt of the purchase monies on the day of completion, account to you with the net proceeds after deductions, where appropriate.

How Long Will My Transaction Take?

Each transaction will vary according to individual circumstances. However, as a guide, the average process takes between 8 – 12 weeks.

Time scales will vary. For example, some transactions are chain free whereas others are dependent upon others in a chain; some people need mortgages and others do not; leaseholds usually take longer than freeholds.

A first time buyer, purchasing a new build property with no mortgage on average could take 6 – 8 weeks, whereas a leasehold purchase that requires an extension of the lease, can take significantly longer, between 3 – 4 months. In such situations additional charges would apply.

our legal fees

At the outset we will give our best estimate of likely charges, government taxes and disbursements which will arise. Please note these can vary where complications arise. Should complications arise, we will notify you of any increase in fees and keep you informed throughout.

Please refer to the below for a guide to our legal costs. In addition to our legal costs, there are additional associated costs for which you are liable (most of which are listed in the tables below). For example, if you are buying with the aid of a mortgage, provided that we are on the Lender’s Panel and they instruct us to act, we will charge an additional Legal Fee of £200 (exc. VAT)for acting for your mortgage provider. If we are not on the Lender’s Panel, or they do not instruct us to act, then they will usually appoint their own solicitors and you may be required to pay their fee.

In addition to our costs, there are also disbursements for which you will be liable. Disbursements are costs related to your transaction that are payable to third parties such as Local Authority Searches, Land Registry fees and Telegraphic Transfer (TT) charges. Transactions vary and not all disbursements will apply to all transactions. Stamp Duty or Land Tax may be payable on property purchases. Any Stamp Duty or Land Tax you need to pay will need to be deposited with us before completion of the transaction and we will pay it on your behalf.

The amount of Stamp Duty or Land Tax payable depends on various factors, including the value of the 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 website.

Below are details of our fees in relation to residential conveyancing and associated costs.

Our fees for property transactions are highly competitive with other high street law firms and are agreed at the outset to avoid any confusion. However, please note that this is not a conclusive list. Should your matter become overly complicated, we reserve the right to review costs and you will be informed accordingly.

Freehold

SALE PRICE (LEGAL COSTS EXCLUSIVE OF VAT):

<£500,000 (£1,200)

£500,001 - £700,000 (£1,400)

£700,001 - £1,000,000 (£1,800)

£1,000,000+ (Price Quoted on Application)

Leasehold

SALE PRICE (LEGAL COSTS EXCLUSIVE OF VAT):

<£500,000 (£1,300)

£500,001 - £700,000 (£1,500)

£700,001 - £1,000,000 (£1,800)

£1,000,000+ (Price Quoted on Application)

Purchases

FREEHOLD PURCHASE PRICE (LEGAL COSTS EXCLUSIVE OF VAT):

<£500,000 (£1,400)

£500,001 - £700,000 (£1,600)

£700,001 - £1,000,000 (£1,800)

£1,000,000+ (Price quoted on application)

LEASEHOLD PURCHASE PRICE (LEGAL COSTS EXCLUSIVE OF VAT):

<£500,000 (£1,500)

£500,001 - £700,000 (£1,600)

£700,001 - £1,000,000 (£1,800)

£1,000,000+ (Price quoted on application)

Re-Mortage Transactions

FREEHOLD, LEGAL COSTS EXCLUSIVE OF VAT: £1,100

LEASEHOLD, LEGAL COSTS EXCLUSIVE OF VAT: £1,200

Transfer of Equity

FREEHOLD, LEGAL COSTS EXCLUSIVE OF VAT: £900

LEASEHOLD, LEGAL COSTS EXCLUSIVE OF VAT: £1,100

Commercial Property transactions are quoted on application.

Acting for Lender:

In the event that Moreland & Co., act for your mortgage lender, there is an additional charge of £200 plus VAT. If we are not on the Lender’s Panel, or they do not instruct us to act, then they will usually appoint their own solicitors and you may be required to pay their fee.

Please be advised the above prices are based on the following:

The matter proceeds in the usual way and we do not encounter any overly complicated issues.
The transaction does not involve the grant of a new lease/lease extension.
There is honest communication between us.
There are no defects in the title or with the title documents.

Disbursements:

SALES (COST OF DISBURSEMENT):

Land registry searches (From £6)

Bank Transfer Fee (TT Fees) (£36 inclusive of VAT)

General Disbursements (£45 exclusive of VAT)

Management pack (£250 (estimate))

Anti-Money Laundering (AML) check (£6 per person)

PURCHASES (COST OF DISBURSEMENT):

Stamp duty (Price dependent on Buyer’s circumstances)

Land registration Fee (Dependent on purchase price)

Land Registry searches (£2 - £7)

Bank Transfer Fee (TT Fees) (£36 inclusive of VAT)

General Disbursements (£50 exclusive of VAT)

Search pack** (£300 inclusive of VAT)

Freeholder registration fee (£50 - £200 (estimate)

** A search pack contains numerous searches with enquiries that are submitted to various authorities which provide you with more information about the property that you plan to purchase.

Our bespoke search Pack includes:

Local Authority Search
Water and Drainage Search
Environmental Search
Chancel Repair Insurance
AML Search
Search Pledge

Our Search Pack includes a unique protection (a Search Pledge) which means that, in the event that your purchase goes abortive, our search provider will provide a free set of further searches on your next transaction (subject to conditions).

For further information on any of our Residential Conveyancing services, or to make an appointment for an informal first discussion, please call Danny Dionissiou on 020 8364 3677. Alternatively, you can e-mail your enquiry to dnd@morelandlaw.co.uk.

Initial consultations are free of charge.

residential conveyancing

process

On Purchase, We Will:

On Sale, We Will:

How Long Will My Transaction Take?

our legal fees

Freehold

Leasehold

Purchases

Re-Mortage Transactions

Transfer of Equity

Acting for Lender:

Disbursements:

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