CONVEYANCING

MYM SOLICITORS IN SLOUGH

Residential Sale

Property sale price                                                Our charges

£ 0 - £125,000                                                           £699.00+VAT

£125,000 - £250,000                                                £699.00+VAT – £799.00+VAT

£250,001 - £400,000                                                £799.00+VAT – £1,200.00+VAT

£400,001 - £500,000                                                £1200.00+VAT – £1,350.00+VAT

£500,001 - £650,000                                                £1,350.00+VAT – £1,750.00+VAT

£650,001 - £800,000                                                £1,750.00+VAT – £2,000.00+VAT

£ 800,001 - £1,000,000                                            £2,000.00+VAT – £3,500.00+VAT

£1,000,001 plus                                                        £3,500.00+VAT - £5000.00+ VAT

Additional charges on a residential sale

£150+VAT if the property is leasehold

£100+VAT for a Statutory Declaration/Arranging bespoke insurance

£100+VAT if you have a second mortgage or a Help to Buy loan

£30+VAT for each FASTER/CHAPS transfer

£20+VAT for the Land Registry and Compliance charge (this may increase if you need additional Land Registry searches)

Management packs are sometimes required when dealing with a leasehold property or a house on an estate. These are obtained from the managing agents or the management company who will charge a fee. Their fee can vary but you should budget on a fee of approximately £300.

Our work includes

  • Initial Instruction and advice

  • ID/AML Check

  • Receive and advise on contract documents

  • Obtain further planning documentation if required

  • Respond to any necessary inquiries of buyers' solicitor

  • Give you advice on all documents and information received

  • Send final contract to you for signature

  • Agree on completion date (date from which you own the property)

  • Exchange contracts

  • Arrange for all monies needed to be received from Buyer Solicitors

  • Pay funds to Lender to redeem the mortgage

  • Complete sale

Disbursements:

  • HM Land Registry fees: Available through the HMLR website

  • Title Deeds £12.00 -£36.00 depending on the type and number of searches required

  • CGT varies depending on the sale price and being BTL property

  • Bankruptcy searches £6.00 each

Residential Purchase

Property purchase price                                Our charges

£ 0 - £125,000                                                      £899+VAT

£125,000 - £250,000                                           £899+VAT – £999+VAT

£250,001 - £400,000                                           £999+VAT – £1,200+VAT

£400,001 - £500,000                                           £1200+VAT – £1,350+VAT

£500,001 - £650,000                                           £1,350+VAT – £1,750+VAT

£650,001 - £800,000                                           £1,750+VAT – £2,500+VAT

£ 800,001 - £1,000,000                                       £2,500+VAT – £3,500+VAT

£1,000,001 plus                                                   £3,500+VAT - £5000+ VAT

Additional charges on a residential purchase

£175+VAT if the property is leasehold

£150+VAT to do searches

£150+VAT to work on behalf of the Lender

£100+VAT for a Statutory Declaration/Arranging bespoke insurance

£200+VAT if you have a second mortgage or a Help to Buy loan

£100+VAT if you have a Help to Buy ISA

£30+VAT for each CHAPS transfer (We do not charge for BACS payments)

£20+VAT for the Land Registry and Compliance charge (this may increase if you need additional Land Registry searches)

 

Our charges for the searches for an average residential purchase will be approximately £250-350 including VAT. We request £360.00 on account at the beginning of the transaction to cover the cost of the searches.

Disbursements:

  • HM Land Registry fees: Available through the HMLR website

  • Search Fees Between £250.00 and £400.00 depending on the type and number of searches required

  • Stamp duty varies depending on the purchase price

  • Bankruptcy searches £6.00 each

  • OS1 Priority search £6.00 each

  • Company search £30.00

  • Companies house reg £23.00

When dealing with the purchase of leasehold properties it is quite common to have to enter into a Deed of Covenant with the Landlord or the Management Company as well as serving notice of the transaction on the landlord. This can result in increased charges payable to the management company or managing agents and you should allow approximately £200 to deal with this.

Stamp Duty Land Tax (SDLT) can be calculated by visiting the link below. We will submit this on your behalf as part of our service to you. https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Your Land Registration fee can be calculated by visiting the links below. We will submit this on your behalf as part of our service to you. HM land registry fee: Fee calculator

Our work includes

  • Initial Instruction and advice

  • Check finances are in place and the source of funds and contact

  • Lender’s solicitors if needed

  • Receive and advise on contract documents

  • Carry out searches

  • Obtain further planning documentation if instructed specifically

  • Make any necessary inquiries of seller's solicitor

  • Give you advice on all documents and information received

  • Go through the conditions of the mortgage offer with you

  • Send final contract to you for signature

  • Agree on completion date (date from which you own the property)

  • Exchange contracts

  • Arrange for all monies needed to be received from the lender and you

  • Complete purchase

  • Register charge on Land Registry

  • Deal with payment of Stamp Duty/Land Tax instructed (we  do not give any advice and ask that a specialist tax advisor is consulted.)

Mortgage / Re-Mortgage

Legal Fees                                                                Our charges

£ 0 - £500,000                                                           £600.00+VAT

£500,000 - £750,000                                                £800.00+VAT

£750,001 - £1,000,000                                             £1200.00+VAT

£1,000,001 plus                                                        £1,800.00+VAT

Additional charges on a residential sale

£150+VAT if the property is leasehold

£100+VAT for a Statutory Declaration/Arranging bespoke insurance

£100+VAT if you have a second mortgage or a Help to Buy loan

£30+VAT for each FASTER/CHAPS transfer

£20+VAT for the Land Registry and Compliance charge (this may increase if you need additional Land Registry searches)

Management packs are sometimes required when dealing with a leasehold property or a house on an estate. These are obtained from the managing agents or the management company who will charge a fee. Their fee can vary but you should budget on a fee of approximately £300.

Disbursements:

  • HM Land Registry fees: Available through the HMLR website

  • Search Fees Between £250.00 and £400.00 depending on the type and number of searches required

  • Stamp duty varies depending on the purchase price

  • Bankruptcy searches £6.00 each

  • OS1 Priority search £6.00 each

  • Company search £30.00

  • Companies house reg £23.00

Our work includes

  • Initial Instruction and advice

  • Check finances are in place and the source of funds and contact

  • Lender’s solicitors if needed

  • Give you advice on all documents and information received

  • Go through the conditions of the mortgage offer with you

  • Send final contract to you for signature

  • Agree on completion date (date from which you own the property)

  • Arrange for all monies needed to be received from the lender and you

  • Complete purchase

  • Register charge on Land Registry

  • Deal with payment of Stamp Duty/Land Tax instructed (we  do not give any advice and ask that a specialist tax advisor is consulted.)

Who will carry out the work?

 

  • Director assisted by Solicitor

  • Solicitor/Director assisted by a Trainee Solicitors or a Paralegal

  • Paralegals

The cases are handled by Solicitor Kulsoom Kiani (8 + years),  Director Majid Malik (5+ years) assisted by Jasmeet Batra who enjoys greatly assisting clients. 

Hourly Rates:

  • Senior Director or Solicitors (4+ years) - £220 - £290 plus VAT

  • Director or Solicitor (2+ years) - £170 - £240 plus VAT

  • Paralegals/Trainee Solicitor - £130 plus VAT

Value Added Tax (VAT):

Our costs are subject to VAT. Where a third party is registered for VAT purposes their fee would be subject to VAT. VAT amount at present is 20% of the quoted fee.

Disbursements:

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. There are certain disbursements that will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

Stamp Duty Land Tax:

This depends on the purchase price of your 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’s website.

The final quote will depend on the value of the property and the complexity of the transaction.  We would warn you that there are some changes made by others which we will not be able to ascertain until we are instructed and make the necessary inquiries. We will inform you as soon as possible once we know these additional charges. For example, the obtaining of a management pack from the freeholder when selling a leasehold property.

How long will my house sale/purchase take?

The average process takes between 6 to 8 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 newly build property with a mortgage in principle, it could take 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 4 months. In such, a situation additional charges would apply.

How long will my house remortgage take?

The average process takes between 1 to 3 weeks depends on the Lender conditions.