Equity Release – Your Top 10 Questions Answered In our Residential Conveyancing department we are often asked by our clients to give them advice when they are considering Equity Release Schemes. In this Blog, Arlie Asbury, one of our Licensed...
Conveyancing Solicitors in Ashby de la Zouch & Tamworth
Helping your residential property transaction run smoothly
Whenever residential property is sold, it is important to make sure that all of the legal aspects of the sale are taken care of. This ensures that the purchaser has full legal ownership of the property and that they are aware of any potential issues that might affect them while living in the property.
This process is known as conveyancing and is usually carried out by conveyancing solicitors or specialist conveyancers.
Fishers expert conveyancing team is made up of licensed conveyancers supported by our expert solicitors, ensuring you a legally sound conveyancing process to give you complete peace of mind. We regularly act for clients in a wide range of residential property transactions and can tailor our service to your unique requirements.
Fishers is accredited by the Law Society Conveyancing Quality Scheme. We were recently shortlisted for Regional Firm of the Year East Midlands in the LFS Conveyancing Awards 2017.
Our residential property conveyancing services
Fishers conveyancing solicitors offer the full range of legal services for buying and selling residential property and land, as well as remortgaging from our offices in Tamworth and Ashby de la Zouch. We handle everything from basic conveyancing to more complex affairs, helping to alleviate your stress and allow you to focus on planning your move.
Our residential conveyancing service covers:
- Buying residential property
- Selling residential property
- Land transactions
For sale and purchase or commercial property, including buy to let property, please take a look at our commercial property services.
Home buyers’ insurance
Fishers offers an insurance policy designed to protect home buyers should their purchase fall through. Our Buyer Protection is an optional add on when instructing us to handle the purchase of a property on your behalf.
This insurance can cover some of the key non-refundable costs associated with purchasing a home, including:
- Mortgage lender arrangement fees
- Broker fees
- Product and booking fees
- Valuation fees
- Solicitors fees
- Disbursement fees
The cost of conveyancing
There are various costs associated with conveyancing. Some of these are fixed and will be the same whoever you use for your conveyancing, while others are dependent on you conveyancer or conveyancing solicitors.
These are the fees charged by your solicitor or licensed conveyancer for their time and the work they carry out during the conveyancing process. These fees will vary between firms, so it is a good idea to get a full breakdown of these fees and what they cover so you can make an informed comparison between different companies.
Disbursements are the fees the person handling your conveyancing will have to pay to third parties for the various checks and other services required by the conveyancing process. The cost of your disbursements is usually set, either at a fixed price or based on a formula, so these should be the same between different firms.
However, some disbursements are optional, so you should make sure you are clear which these are and why your solicitor or conveyancer feels they are appropriate when looking at quotes.
The main conveyancing disbursements cover:
Searches – These make sure you have all the information you need to know about a property you are buying and the surrounding area. Typical searches include contacting the local council, Environment Agency and Coal & Water Board for information such as whether the area is subject to flooding, if there are any rights of way across your property and anything else that might affect you when living in the property.
Title deeds – When selling your home you need a copy of the Title Deeds. These are various documents, normally held by the Land Registry, which prove that you legally own the property. There is usually a set fee to obtain a single set of Title Deeds and an additional fee for any extra documents. For leasehold property, you will generally have to pay a higher fee for your Title Deeds.
Transfer of ownership – Once you have sold a property and exchange of contracts has taken place, you will need to pay the Land Registry a free to transfer the property into the buyer’s name. The level of the fee depends on the value of the property.
Bank transfer or Telegraphic Transfer fees – When buying a property, your mortgage company will usually require you to transfer the funds via Telegraphic Transfer. This allows them to guarantee that the money reaches the seller’s account at the exact right time. You will usually need to pay a fee to your solicitor or conveyancer for handling this transfer, as well as bank fees.
Stamp Duty Land Tax – When buying a property over a certain value, you will have to pay Stamp Duty Land Tax. The current threshold for residential property is £125,000. The tax is charged on a sliding scale, with higher rates the higher the value of the property.
Anti-money laundering checks – These are required by the government to prevent property transactions being used for money laundering. This involves various checks to confirm your identity, most of which are now carried out online. The cost of these checks varies, with foreign nationals and ex-pats usually having to pay more.
Property fraud checks – It is strongly recommended when buying a property to check that the seller’s solicitor is legitimate before transferring the purchase price to them. This protects you from being caught out by fraudsters.
Leasehold fees and costs – When buying leasehold property, there are often additional costs involved. These include things like creating a Deed of Covenant, which is a legal agreement between the leaseholder and yourself, setting out both of your responsibilities e.g. for building repair work.
The Law Society Conveyancing Quality Scheme
The Law Society offers a Conveyancing Quality Scheme that accredits law firms who have passed its standards for good conveyancing. The accreditation process involves rigorous examination and testing to prove that the conveyancing professionals working within a law firm have the highest levels of knowledge, skills, experience and practice.
Fishers is accredited by the Law Society Quality Conveyancing Scheme, offering reassurance to our clients that we are provide the best possible service for residential property transactions.
The Conveyancing Quality Scheme is officially recognised by the Legal Ombudsman, Council of Mortgage Lenders (CML), Building Societies Association (BSA) and Association of British Insurers (ASI).
The difference between conveyancing solicitors and licensed conveyancers
A conveyancing solicitor is a fully qualified lawyer who specialises in conveyancing, while a licensed conveyancer is qualified only in conveyancing and licensed by the Council for Licenced Conveyancers.
Because a conveyancing solicitor has a broader range of legal expertise, they can help you with issues that go beyond standard conveyancing. This can be useful if any unusual problems come up during the conveyancing process or if you need additional legal help.
The reason some people prefer to use a licensed conveyancer instead of a conveyancing solicitor is that they tend to be cheaper, due to their more narrow area of expertise. For many residential property transactions, a licensed conveyancer’s expertise will be sufficient for your needs, but for complete peace of mind, it is worth using a conveyancing solicitor.
Fishers offer the best of both worlds for our conveyancing clients. Our residential property team includes both licensed conveyancers and specialist conveyancing solicitors. This means that we can offer you the best value for your conveyancing, using our conveyancers for standard transactions, while ensuring that you have the expertise of fully qualified solicitors available to you if required.
Where to find Fishers conveyancing solicitors
Fishers property conveyancing team works out of our offices in Ashby de la Zouch and Tamworth, offering conveyancing services across the East Midlands.
Fishers conveyancing solicitors in Ashby de la Zouch are based in Kilwardby Street in the town centre.
Fishers conveyancing solicitors in Tamworth are based in Bolebridge Street in the town centre, near to the Ankerside Shopping Centre.
Get in touch with our expert conveyancing solicitors
Making sure the conveyancing is correctly taken care of when buying and selling residential property gives you peace of mind that all of the legal aspects of the transaction are covered. Fishers expert conveyancing team have the expertise and experience to ensure no box is left unticked, so you can leave the entire process in our hands with complete confidence.
If you would like further information regarding any of our property conveyancing services or to arrange an initial appointment, please call your nearest office or complete our simple enquiry form and a member of our team will be in touch.