Updated: October 12, 2018

Chepstow conveyancing solicitor fees and costs

No Move, No Fee conveyancing in Chepstow

Conveyancing solicitor fees will be paid your Chepstow conveyancing solicitor for the legal work for a home sale or purchase.

Do Chepstow conveyancing solicitors work on a fixed fee basis?

We work on fixed legal fees (known as 'No Sale, No Fee' or 'No Move, No Fee') with no hidden extras, unlike some other conveyancing solicitors in Chepstow who carry out the legal work on a price per hour basis. Your quote explains all fees and other costs you will be charged when your property transaction has completed.

Are there any other costs in addition to conveyancing fees?

On top of the conveyancing fees you will also have to pay for 'disbursements'.

Disbursements are fees that a property lawyer must pay to other companies during the process of buying or selling your home, such as managing agent fees or bankruptcy searches.

See: How much should conveyancing fees cost?

How much will conveyancing in Chepstow cost in total?

While conveyancing fees in Chepstow will be the same as anywhere else in the UK, there can be variation in the disbursements required. As examples, additional region-specific searches, such as a flood plain search, may be needed and Local Authority Search fees can vary.

With Quittance Conveyancing, there are absolutely no hidden costs. For standard conveyancing transactions, the conveyancing fee we quote is the fee you pay. To calculate your conveyancing fees, try our conveyancing fees quote calculator: Click here

Quittance delivered an excellent service at the lowest conveyancing fees we could find

Conveyancing - Buying a property in Chepstow

Caveat emptor, meaning 'let the buyer beware', was a key part of English property law. After the introduction of the Consumer Trading Regulations (CPR), this rule no longer applies. However, the buyer still will need to undertake due diligence on the property to be purchased.

A Chepstow conveyancing solicitor will give advice following their enquiries, find solutions to outstanding defects and other issues and confirm that the legal title passes to the new owner.

This article sets out useful advice for buyers who need conveyancing solicitors in Chepstow.

Your Chepstow conveyancing solicitor must be lender-approved

Before selecting a conveyancing solicitor in Chepstow, you must confirm that they are approved by your lender, whether you are getting a mortgage from Topaz Finance, Tesco Bank or any other lender.

Most banks and building societies only accept a selected list (known as a 'lender panel') of law firms that meet strict criteria. If your solicitor is unable to act for your lender, the lender will need a different law firm to complete the legal work.

The borrower will usually need to pay this alternate solicitor's costs, and the conveyancing process can take much longer.

Your property purchase could be threatened by failing to check your conveyancing solicitor's lender panel status.

Quittance Conveyancing can act for all lenders.

Monmouthshire Council Council Tax

The council tax paid by a homeowner is based on a number of criteria including the number of people living at the property and the property's value as at 1 April 1991. The occupier of a property in Tax Band E, for example, would owe annual council tax of £1,881.

A conveyancing solicitor in Chepstow will inform the purchaser of the property's tax band once they have the Local Authority search results.

If the property is unoccupied for 2 years or more, an additional premium of 50% may be applied to the council tax. Single person discount (25%) would reduce the tax due to £1,411.

Other discounts and exemptions may also apply, for example if the property is a second home then a 10% discount will be applied or where an occupation is prohibited by law such as a compulsory purchase order.

Band Monmouthshire Council Tax (2018)
A £1,026
B £1,197
C £1,368
D £1,539
E £1,881
F £2,223
G £2,565
H £3,078
I £3,591

Are you paying too much?

To appeal contact:

Valuation Office Agency
4th Floor
Citypoint
Temple Gate
Bristol
BS1 6PL
Avon

The Valuation Office Agency (VOA) should reassess a property's band on request. Councils prefer that this be done within six months of buying a property.

Stamp Duty on Chepstow properties

Given the complexity of the SDLT1 tax return form, only the fearless would attempt to complete and file this with HMRC (formerly Inland Revenue) without a conveyancing solicitor's help.

When buying a home, Stamp Duty Land Tax will probably need to be paid if the property is valued at over £125,000.

Quittance Conveyancing's online case management system are fully integrated with HMRC (formerly Inland Revenue)'s electronic filing systems.

See table below for Stamp Duty Land Tax examples for properties in Chepstow:

  Average selling price (2017) SDLT
Average price £283,577 £4,178.85
Average price (detached) £383,132 £9,156.60
Average new build £165,833 £816.66
Following a change in April 2016, a 3% stamp duty surcharge is applied for purchases of additional property. So if a second home was bought for £283,577 then the SDLT total will be £22,686.16.

Stamp duty relief for first-time buyers in Chepstow

Relief is available on home purchases below £300,000 for first-time buyers with relief up to £500,000 in some areas.

Chepstow conveyancing solicitors will ensure the right amount is calculated.

Buying a flat? Leasehold conveyancing in Chepstow

New build site

It is thought that in excess of 100,000 UK property owners have property leases with problematic lease conditions. Numerous technical issues may be lying in wait for an uninformed buyer, such as unfair developer practices, unpaid service charges by the existing leaseholder and spiralling ground rents.

Erroneous leasehold advice, from a conveyancer who has only ever worked on freehold matters, could lead to serious consequences.

If you are planning to buy a house or flat with a lease, a good conveyancing solicitor in Chepstow will investigate aspects of the leasehold purchase, such as absent freeholders, reviewing the lease itself (some documents can be centuries old) and reserve funds.

Make sure that you are aware of all the potential issues and costs associated with the lease - You can call our team of leasehold conveyancing solicitors on 0800 612 0377 today.

Buying a 'New Build' property in Chepstow?

New build building site

Based on local data sourced by Her Majesty's Land Registry, the average sale price of Chepstow new build homes is £165,833. 3 newly-constructed homes were purchased in Chepstow last year.

A new-build conveyancing solicitor in Chepstow must be well-versed in local factors and new build's added complexities, such as administering Help to Buy purchases and investigating developer incentives.

Quittance Conveyancing deliver an independent assessment of the legal status of the property, looking out for concerns like the home's subsequent marketability and an assessment of other risks, such as contaminated land hazards.

Monmouthshire Conservation areas

Purchasing property in a conservation area can ensure that the neighbourhood is protected from noticeable change. However, conservation area restrictions will affect your property.

These building controls, called Article 4 Directions, could include anything from restrictions on replacing windows, to restrictions on hard standings at the front of the property.

The local planning authority can order any non-compliant alterations to a property to be changed or removed, such as knocking down a new modern-style extension.

Your conveyancing solicitor will confirm whether the property you are buying is located in one of Chepstow's conservation areas.

Conveyancing - Selling a property in Chepstow

The conveyancing process on a sale of a house or flat usually requires less work than when purchasing. The buyer has to carry out due diligence on the home. Conveyancing solicitors in Chepstow acting for the seller, however, simply gathers information relating to the property and answers the purchaser's enquiries .

What factors could threaten your sale?

Common obstacles, like where the property differs from the title plan or a solar panel 'rent a roof' scheme, can significantly derail the conveyancing process if not dealt with promptly.

It is better not to hide from the issue, hoping the issue will fix itself - get advice, square up to the issue(s), and find a solution as early as possible.

Useful reading:

For more conveyancing advice for sellers click here.

Leasehold conveyancing for a sale

The legal work for a leasehold flat or house is significantly more protracted than for a freehold property.

The complex nature of leasehold property means that conveyancing solicitors in Chepstow will need to conduct additional legal work, which could include obtaining an up-to-date service charge statement, through to details of any slush fund for property maintenance.

To accelerate the handling of the leasehold work, it is highly recommended that the vendor contacts a leasehold-specialist conveyancer as soon as is practicable.

Can your conveyancing solicitors act for the buyer and the seller of the same house?

Conveyancers regulated by the Council for Licenced Conveyancers can act for both parties. However, SRA rules ban a single conveyancing solicitor from acting on both sides in a property sale and purchase.

You may wish to contact a law firm in Chepstow to undertake your legal work, if we are acting for the other side.

Local Chepstow conveyancing solicitor directory

  • Bevan-Evans & Capehorn Solicitors LLP, 24 Moor Street, Chepstow, Gwent, NP16 5DB
  • Dr Mckenzie Evans Ltd, Bevan-evans House, Riflemans Way, Chepstow, Gwent, NP16 5EJ
  • Francis & Co, St Maur, Beaufort Square, Chepstow, Monmouthshire, NP16 5EP
  • Properts, 11 Beaufort Square, Chepstow, Monmouthshire, NP16 5EP
  • Star Legal Limited, 11a Welsh Street, Chepstow, Monmouthshire, NP16 5LN

Conveyancing - Remortgaging a property in Chepstow

The main reason people remortgage a home is to lower their monthly repayments. There are other reasons to consider remortgaging, for example the existing lender having refused a payment holiday, or borrowing more to help pay for an extension.

A proactive conveyancing solicitor in Chepstow will complete the conveyancing quickly, perhaps saving you from a payment or two at your old rate. With rate rises hard to predict, fast conveyancing can be a crucial factor in securing the rate you want.

In order to ensure that the lender's capital is protected, a property lawyer will act for both you and your new bank or building society.

Gaynor Haliday, Legal researcher

About the author

Gaynor Haliday is an experienced legal researcher and published author. She has had numerous articles published in the press and is a legal industry commentator.

Read more about this Quittance Legal Expert

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