Conveyancing

Buying or Selling

Whether buying, selling, remortgaging or transferring ownership rights we can assist in resolving matters quickly. We offer fixed fees on all Residential conveyancing matters.

Gordon Wright, one of the Directors of Wright & Co, will have conduct of the work involved. He has been a solicitor for more then 30 years and has 15 years experience of conducting conveyancing work.

Key stages of the conveyancing process

Obviously, all transactions are different and will differ as to how long the transaction will take from start to finish but there are key stages in all transactions whether sales or purchases as follows:



1. We will write to you to confirm your instructions and ask you to sign and return a copy of our client care letter in confirmation of the same.

2. We will, where purchasing, require full documentation to establish proof of the availability of funds to proceed. We will usually require evidence of the funds in the form of bank statements for the previous three months or proof of such other source of funds as are relevant e.g. gift of funds from a relative, inheritance etc.

3. In a sale, we will check your legal title to the property and ask you to provide evidence of any outstanding mortgage. We will also issue contracts and supporting documents to the buyer’s solicitors.

4. In a purchase, we will seek contracts and title documents from the seller’s solicitors and thereafter submit searches against the property.

5. In a purchase, upon receipt of search results, we will submit any necessary enquiries to the seller’s solicitors arising from the title documents and searches e.g. as to planning permission, New Home Warranties, etc. In a sale we will contact you with regard to such enquiries to seek your instructions where necessary.

6. We will contact you at this stage to ask you to sign the necessary documentation such as Contracts and Transfers and Mortgage documents in order to progress to exchange and completion.

7. Once all necessary documentation is in place we will look to move forward to exchange of contracts (when a date for completion is arranged and the transaction becomes legally binding on both parties) and completion when the property actually changes hands. The mortgage on a purchase also completes on the day of completion and on a sale the mortgage is discharged.

8. After completion we will look to pay stamp duty on a purchase and thereafter register the transaction as necessary at H.M. Land Registry and report to you thereafter.


Typically, transactions can take 6-12 weeks to complete but this is a mere estimate, for a number of reasons transactions may take less or more time to complete.

Sale of Residential Freehold Property

VALUE OUR FEES VAT (20%) TOTAL
Up to £100,000 £400 £80 £480*
£100,001 - £200,000 £450 £90 £540*
£200,001 - £400,000 £500 £100 £600*
£400,001 + £600 £120 £720*
*The above fees will be subject to an increase of £100 + VAT (£20) in the case of Leasehold properties and New Builds.

Disbursements

Office Copy Entries £7.80 (VAT Not Applicable)
TT fee to pay off mortgage £17.50 (VAT Not Applicable)
TT fee to send monies to client £17.50 (VAT Not Applicable)

Sellers pack/Management Company fees may also be incurred. These are usually £100-£400 including VAT at 20%. There may also be times when additional Land Registry searches are required to obtain copies of old Deeds, requested by the Buyers. We will always inform you where these fees are significant and before we incur the fee. However such fees are often no more than £4 or so (VAT not applicable).


Purchase of Freehold Residential Property (not including New Builds)

VALUE OUR FEES VAT (20%) TOTAL
Up to £100,000 £450 £90 £540*
£100,001 - £200,000 £500 £100 £600*
£200,001 + £600 £120 £720*
*The above fees will be subject to an increase of £100 + VAT (£20) in the case of Leasehold properties and New Builds.

Disbursements

Land Registry Fee
Value Full Fee (First Registrations/ New Builds/ Right to Buys) ½ Fee (all other residential purchase registrations)
£0 - £80,000 £40 £20
£80,001 - £100,000 £80 £40
£100,001 - £200,000 £190 £95
£200,001 - £500,000 £270 £135
£500,001 - £1,000,000 £540 £270
TT fee £17.50 (VAT Not Applicable)
Searches £142.20 - Wakefield area (other areas will vary)(Coal & Brine, Local Authority, Drainage & Water) (VAT Not Applicable) *
Land Registry searches £3.90 OS1, £2.90 Bankruptcy (per person buying)

* Other searches may be necessary or suggested based on the age / location etc of the property or on lender request. If this is the case we will inform you of the additional costs.


On purchases of a Leasehold property additional fees are likely to be incurred in connection with the regulations of the Management Company relating to requirements for notice, certificates to comply with restrictions on the title and other matters. These can range from £50 to £400.

Stamp Duty
Value Residential Purchase Buy to Let and 2nd Homes
£0 - £125,000 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%
  • First Time Buyers - 0% Stamp Duty up to £250,000.
  • Properties bought under £40,000 are not subject to the Buy to let/2nd home stamp duty.
  • If selling main residence and buying new then ‘Residential purchase’ stamp duty applies (only where no other properties are owned).
  • If buying a house and not selling the main residence then you will have to pay ‘2nd Home’ stamp duty (this does not include first time buyers). If you then sell your main residence within 3 years you may be eligible for a refund of the additional stamp duty paid.