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We have first hand experience of the importance of buying properties whether it is to live in while in service, to live in after resettlement or as an investment to be realised on retirement.
We act for members of HM Armed Forces serving in the U.K. and overseas in relation to all types of residential property transactions in England and Wales. We are aware of the challenges of dealing with a property transaction when about to be posted overseas, or perhaps whilst on operational deployment.
The Armed Forces Lawyers Conveyancing Team
Our experienced team has been handpicked to deal with all Armed Forces Conveyancing transactions.
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How Armed Forces Lawyers help you get on the housing ladder
We offer a 20% discount on our conveyancing legal costs for all HM Armed Forces personnel and can provide a personal and professional service to ensure your transaction goes ahead as quickly and smoothly as possible. We are experienced in all aspects of conveyancing including the latest scheme available to service men and women to assist financially in property purchases – the Forces Help to Buy Scheme which has been introduced in line with the principles of the Armed Forces Covenant.
Bird and Co have been absolutely amazing. In a day and age were we hear horror stories of house sales ‘dragging on for months’, and how ‘it’s the solicitors who slow things down’ Bird and Co definitely challenge this stereotype! Their communication was excellent; keeping us informed at every stage of the process we never had to chase them to see what was happening. They are undoubtedly proactive, and at all times we felt their aim was to protect us as their client and complete on our property sale as soon as they could. We often received email updates outside of office hours and at weekends. In addition, when issues arose that caused concern or looked to threaten the process the team were quick to deal with it and we felt they took away so much stress. We cannot recommend them enough!
Our conveyancing fees
We aim to keep our conveyancing fees transparent and competitive, while offering the very best service for our clients. We offer fixed fee conveyancing, meaning that the price we quote you upfront is the price you will pay unless there are unforeseen circumstances, in which case we will inform you of any additional cost at the earliest opportunity. This would include any work which is outside of the scope of the usual conveyancing transaction such as negotiating a lease extension on a leasehold property prior to sale.
Our quotes include a complete breakdown of the cost of your conveyancing, including our fees and the various fees paid to third parties, such as HM Land Registry. These third-party costs are known as disbursements and are fixed, meaning they should be the same between difference firms of conveyancers and conveyancing solicitors. These are the disbursements which we anticipate but are not an exhaustive list.
Our fee assumes 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
- (leasehold properties) this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Leasehold fees
In a typical leasehold purchase there will be the following additional fees:
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £75 and £250.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £75 and £250.
- Transfer of any share in the Management Company or application to become a member (where relevant). This fee is again chargeable under the lease. Often the fee is between £75 and £250.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £200 and £500.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100 – £300.
In some cases there can be two sets of these fees payable where there is a Landlord and Management Company that require notices. These fees are set by the Landlord or Managing Agent for the whole development.
These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Where you are selling a leasehold property it will be necessary to obtain information from the Landlord or Management Company. The cost they charge can typically be up to £500.
Some of these fees may also be payable for freehold properties that are on developments which include management companies.
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.
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-8 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 new build property with a mortgage in principle, it could take 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. In a typical purchase the stages will include the following (this will be slightly different for a sale or other transactions):
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
