How long will my transaction take?

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Whilst we endeavour to work as efficiently as possible in order to meet any proposed timeframes, please note, the nationwide average timeframe for a sale or purchase transaction is 12 -14 weeks from the point of receiving draft Contract papers to the point of an exchange of Contracts.

The average timeframes for a remortgage or transfer of equity are 4 – 10 weeks.

It is however important to note that these timeframes are only indicative and there are various third-party factors that can affect how quickly or slowly a matter progresses.

We can often proceed much faster than the nationwide average timeframe; and sometimes the transaction can take longer.

Rest assured, whatever type of property you are selling or purchasing, we will aim to reach completion for you as quickly as possible.

How much will the transaction cost

Indicative fees are set out under the Pricing tab on this website. However, we will provide you with a written cost estimate at the outset of a transaction.

When providing a Costs Estimate, our legal fees are based on the matter proceeding in a straightforward manner without undue difficulties, defective titles or prolonged negotiations. They are also based on the matter proceeding in the normal timescales for transactions, and do not include excessive correspondence or telephone calls. If any of these situations arise, then we may have to revise our own fees, and prior notification would be given to you in this event.

Sometimes we have to charge more than we have estimated. This happens rarely and only in unforeseen circumstances or where we have additional work to undertake on your behalf, which we could not have reasonably been aware of when the estimate was prepared. If that is the case, we will explain why the fees are being increased and we will inform you before we incur any additional costs.

If we find that any additional expenses need to be incurred after we have considered the contract, searches, and title documents, we shall let you know the reason for the extra expense, the likely amount, and when we shall need payment.

What fees are not included?

The legal fees provided at the outset do not cover matters such as Deeds of Variation, Deeds of Easement, Statutory Declarations, Declarations of Trust (please note this list is not exhaustive). Should these matters apply to your transaction, they will be subject to additional legal fees, and prior notification will be given to you in respect of the same.

How much will we charge you if the transaction does not proceed?

Fees are payable whether or not a transaction is completed. If any transaction does not proceed to completion for any reason during the period in which the Firm is instructed, then the Firm shall be entitled to charge for work undertaken

If for any reason a transaction does not continue to completion, we will tell you in writing of our charges made for the work we have done and the disbursements that we have paid out.

Where we act for you in accordance with an estimated or fixed fee our charge for an abortive transaction, whatever the cause, will be calculated in accordance with the amount of time spent but will not exceed the original estimated or fixed fee.

Our charges will reflect the amount of work done and the time taken. They will be based either on the notified rate of charge or a proportion of the estimated fee, corresponding to how much work was done.

In its absolute discretion the firm may waive part or all of such entitlement to fees.

When will exchange of contracts take place?

There are three stages to the conveyancing transaction.

Stage 1 covers the period between you instructing us and signing the Contract. This is known as the “pre contract” stage where even though contractual documents may have been signed, they are not legally binding and either party can walk away from the transaction. During this stage, searches will be requisitioned and enquiries dealt with. We are unable to proceed to stage 2 until all search results are received and enquiries dealt with satisfactorily

Stage 2 is the stage which at which the transaction becomes legally binding and this is known as “Exchange of Contracts”. Once we have exchanged contracts on your behalf, the transaction is legally binding and the parties are respectively obliged to sell and buy the property.

Stage 3 is the completion stage and that is the date the transaction is legally completed, and you get the keys to your new home.

Can we act for both parties?

Although we are permitted to do so, we do not act on both sides of a transaction, due to a potential conflict of interest arising.

Do we offer a no sale no fee?

This is not something we offer. If work has been started on your file, and the matter does not proceed for any reason, then you will be liable for a proportion of our fees depending on the amount of work carried out on your file to date. If, for any reason, we have to abort the transaction, we will advise what percentage of the estimated fee will be charged.

We are happy to discuss this aspect further with you if you have any concerns.

Do we require payment at the outset?

At the outset of a transaction, we request an initial payment of money on account of £100.00 in respect of a sale transaction and £600.00 in respect of a purchase transaction, to cover the third-party fees, such as Land Registry documentation and search fees, which we incur on your behalf during a transaction. Any money paid at the outset will, of course be reflected in the final figures which we calculate once exchange of contracts has taken place.

When do you need money from us?

There are three points at which money is required:

1. The initial payment of money on account.

2. When you reach exchange of contracts. A payment of 10% of the purchase price is needed (we refer to this as the deposit). If you are selling and buying part of this 10% will be made up from the money you receive from your buyer.

3. The balance to complete. This is the total cost of purchase (price plus all fees and disbursements (Stamp Duty Land Tax, Land Registry fees etc) less the money paid on account, the deposit and the mortgage funds (if any).

You should note:

1. All payments must be cleared funds at the time they need to be used. For this
reason payments by bank transfer should be made.

2. We do not accept payments from third parties, credit cards or debit cards.

3. Bank transfers cannot be made from outside the UK.

4. We do not accept crypto currency

5. We do not accept cash or cheques.

Please be aware of cybercrime
Please note, we do not remit our bank details by email. The bank details will be provided to you by telephone. Once we have provided our bank details to you, we confirm that those details will not change prior to the end of your transaction. If you receive an email purporting to be from this firm requesting that the funds be sent to an alternative bank account, this is likely to be a scam. Please therefore check our firm’s bank details by contacting us before remitting any funds to us. We cannot be held responsible if the funds are sent to an incorrect account

When does the property need to be insured?

If you are buying a house, you must insure the property from the date of exchange of contracts. You will need to obtain a quote just before exchange. This will give you reassurance that insurance is available against all the usual risks at a reasonable premium. If this is not the case, the property may not be mortgageable and, even if you are a cash purchaser, you should consider carefully whether to proceed with the purchase if you are unable to obtain insurance on the property.

Do we give Tax advice?

Work that we carry out for you may involve tax implications or necessitate the consideration of tax planning strategies. Please note we do not provide any form of tax advice whatsoever and advice in this regard should be sought from your Accountant or Tax Advisor.