Residential Property

Our friendly residential team are here to walk you through the entire process of buying and selling your house, be it freehold or leasehold. At Genesis Legal we understand that the process of buying, or selling, your house can often be daunting and stressful but we aim to put you at ease and anticipate any Issues so that the process Is as simple and stress-free as possible. Our residential, or conveyancing, team are able to guide you through the procedure and will keep you advised of progress every step of the way and ensure you receive clear, straight-forward and practical advice, without the legal jargon.

They are able to advise on specialist Issues, such as lease extensions and the government's Help To Buy scheme, and to ensure that the advice you receive Is accurate and reflects your needs. Our residential team can advise on:

Practice Areas

Residential purchases and sales

Help to Buy

Residential leases

Leasehold extensions

Leasehold enfranchisement

Tenancies

Right to Manage

Deeds of Variation

Mortgages and re-mortgaging

Declarations of Trust

Option agreements

Transfer of equity

Timescales

Timescales are dependent upon many factors within a conveyancing matter, many of which will depend on influences beyond our control such as the number of parties in the chain and their ability to proceed, the number of enquiries raised, the time taken to collate the responses required from relevant parties, whether it is necessary to obtain lender approval of any matters in connection with mortgage offers and the time it takes for mortgage offers to be issued and search results received. It is therefore difficult to give an accurate indication of the time it will take to complete your transaction. However, the average conveyancing transaction takes approximately 4 to 6 weeks to the point of exchange of contracts and a further 2 or 3 weeks to completion.

 

As with many sectors, due to the Covid-19 Pandemic we are currently experiencing longer delays than usual for reasons that are entirely out of our control, so please bear this in mind throughout the transaction. We will, however, endeavour to meet your requirements and keep you regularly updated as the matter progresses.

 

Please click here for an overview of our sales and purchase transactions. This overview is a general guide to the stages involved throughout transactions and not all of these will be relevant to each individual sale or purchase.

Our Fees for Sales & Purchases

Our residential conveyancing prices are competitive and are tailored to suit your particular circumstances, but the examples below set out our principal charges.

Please note: All prices shown on this page are subject to VAT at the current rate.

£0
- £100,000

Purchase £900
Sale £800

£100,001
- £250,000

Purchase £1000
Sale £900

£250,001
- £500,000

Purchase £1100
Sale £1000

£500,001
- £750,000

Purchase £1,300
Sale £1,100

£750,001
- £1,000,000

Purchase £1,400
Sale £1,200

£1,000,001
upwards

0.15% sale or purchase price

Our estimates assume that:

  • this is a standard transaction and that no unforeseen matters arise including for example (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;
  • the transaction is concluded in a timely manner and does not become unduly protracted;
  • all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; and
  • no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Additional fees

  • Completing Stamp Duty Land Tax Return

    £75
  • Bank transfer fee

    £30
  • LMS fee

    £30
  • Leasehold properties

    £200
  • On-line providers fees

    £ Vary
  • Help to Buy ISA (limit set out in Portal)

    £50
  • Help to Buy

    £ From £250

Other matters

  • Re-mortgages

    £Fee as per purchase, less £100
  • Transfer of Equity (with Mortgage)

    £850
  • Transfer of Equity (without Mortgage)

    £700
  • Declarations of Trust (simple)

    £300
  • Assured Shorthold Tenancy Agreement

    £300
  • Option Agreement

    £950
  • Lease Extension – consensual

    £1050
  • Lease Extension – statutory

    £1250
  • Independent legal advice – mortgages

    £Contact us for an estimate
  • Independent legal advice - guarantees

    £Contact us for an estimate
  • Occupiers Deed of Consent

    £375
  • Deed of Variation

    £550
  • Part 3 mortgages

    £POA
  • Right to Enfranchisement application

    £Contact us for an estimate
  • Right to Manage application

    £Contact us for an estimate

Disbursements

  • Digital verification of identity (per person)

    £5.25
  • Electronic AML check (per person)

    £6.00
  • Digital source of funds check

    £2.00
  • Searches (approximately)

    £150.00
  • Chancel Repair Indemnity Policy

    £13.22*
  • HM Land Registry fee (approximately)

    £135.00*
  • Office Copy Entries - if applicable (per document)

    £3.00*
  • Land Charges Search (per person)

    £2.00*
  • Land Registry Priority Search

    £3.00*

* Exempt from VAT

Please note that leasehold transactions may incur additional variable costs as follows: 

  • Notice of assignment/transfer fee
  • Notice of charge fee
  • Deed of covenant fee
  • Share certificate fee
  • Ground rent and service charge

 The costs for these (if applicable) will be determined upon receipt of the lease and other documentation and therefore cannot be estimated at this time.

Stamp Duty or Land Tax (on purchases)

This depends on the purchase price of your property. You may be entitled to first time buyer relief or have to pay additional Stamp Duty if you are buying a second property; you can calculate the amount you will need to pay by using HMRC’s website here.

 

Get in touch

We will be happy to provide you with an estimate of costs tailored to your individual transaction.

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