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If you want to go further with your armed forces sale conveyancing quote, or even if there is any aspect of your sale conveyancing quote you’re not sure about, please don’t hesitate to get in touch – we’re always happy to help, and we’re only a phone call or email away!
About Your Armed Forces Lawyers Sale Conveyancing Quote
Your sale conveyancing quote is made up of a number of different things, some of which we can control, and others which we can’t.
Sale Conveyancing Legal Fees
The first component is the legal fee. This is the fee we charge you for our work. In other words, it is what you pay for our lawyers’ time looking after your sale. If you compare this to a mechanic or plumber, this is the labour charge on the sale.
The fee varies depending on the price of the property, because the level of responsibility increases for more expensive sales.
We don’t charge extra for mortgage transactions even though in advising you we have to undertake extra work in dealing with the mortgage company and ensuring that your mortgage is paid off and fully redeemed before the property passes, and all charges on the property released. If we didn’t do this carefully there would be a risk that you would have to move out of the house but still owe a large sum to the mortgage company.
We do charge a small additional fee for leasehold transactions. This is because there is extra work involved in dealing with third parties, such as managing agents, as well as additional queries and work coming from your purchaser’s solicitors.
In some cases additional fees may arise, which we will discuss with you if required. One example is that if, once we have all the documents and information necessary to exchange contracts, you require completion with 5 or less working days notice, there will be an additional fee of £99 plus VAT for expediting the work in your case. Similarly, if you need to make a Statutory Declaration about an aspect of your property, we charge a modest fee for the additional work involved in this unusual task.
Regrettably we also have to charge VAT at the current rate on our fees.
Disbursements are the various other expenses which are associated with selling a property. Think of them as the parts aspect of the transaction – we have to have them to do a proper job, but we have less ability to control their amount. The disbursements on any transaction will not vary a great between solicitors, and in sale transactions are usually very modest (leasehold sales can be an exception to this due to the cost of management packs).
We have set out the details of the most common disbursements below:
This is a small fee for verifying your identity. All solicitors and other regulated professionals must be satisfied who they’re dealing with in order to reduce the risk of money laundering. This is a legal requirement, but the fee is very small.
Land Registry Office Copy and Plan Fee
A small fee charged by HM Land Registry to provide us with a copy of their Office Copy of the house documents and any plan. Your purchaser’s solicitor will require this to advise on title to the property and we have to supply it to them. We are members of a special subscription scheme which allows you to get these plans at a reduced rate. For leasehold transactions these fees are larger because documents have to be obtained for both the lease and the freehold which underlies it.
Leasehold transactions also attract additional disbursements; fees charged by management companies for providing information about service charges etc, and additional Land Registry charges.
Other sale disbursements
On occasion issues may arise during the course of a transaction which can’t be accurately predicted at the start. The most common of these is indemnity insurance. If, for example, there was an extension built on the house but it is not clear whether the Building Regulations were complied with, the buyer may insist on the purchase of an insurance policy to cover the risk that in the future someone might object to the lack of Building Regulations completion certificates. Primarily it is to cover them when they in turn sell the property.
Please note that the Armed Forces Lawyers Conveyancing service is exclusively for residential property, and does not extend to commercial, agricultural transactions, sales of part of a plot or property, or transactions which relate to the sale or purchase of land exclusively. All such transactions amount to commercial property work and are significantly more labour intensive.