Award-winning No Move, No Fee conveyancing for Cowes home movers
By Gaynor Haliday, Legal researcher
Updated: October 12, 2018
Whether you are buying or selling a house or flat and need conveyancing solicitors in Cowes, Quittance Conveyancing's no sale - no fee property lawyers can help.
Quittance Conveyancing offer guaranteed fixed conveyancing fees, and because we are committed to better communication, you will never be in the dark about the legal side of your move.
In the event that your home move does not ultimately go ahead our no sale no fee guarantee means you will not have to pay any conveyancing solicitors' legal fees.
Cowes's most communicative conveyancing service
Nearly 1 in 2 of the home buyers responding to a survey conducted by InfoTrack objected to a lack of solicitor communication.
In fact, good conveyancing solicitor communication is considered so critical that the CLC (the official conveyancing industry regulator) client charter is geared towards tackling the issue.
Even though conveyancing the SRA and the Council for Licensed Conveyancers are addressing the problem, according to a survey carried out by OnePoll, around 25% of home purchases and sales do not exchange as the result of delays caused by poor communication.
Keeping you in the loop
Quittance Conveyancing's Cowes conveyancing solicitors aim to deliver to you a dedicated and proactive property legal service by phone, email and online, 7 days a week:
- Best Cowes conveyancing solicitors fees
- Open Mon to Thurs 9am-8pm & Fri 9am-6pm
- Open weekends - Saturday (9am-1pm)
- Your lawyer's personal extension numbers
- Innovative technology to track your case
- Real-time case status notifications by SMS, phone and email
Updated: October 12, 2018
Cowes conveyancing solicitor fees and costs
No Move, No Fee conveyancing in Cowes
Conveyancing solicitor fees are the costs you pay to conveyancing solicitors in Cowes for the legal work involved in moving home.
Are Cowes conveyancing fees and costs fixed?
Some conveyancing solicitors in Cowes will work on an hourly rate. Some solicitors will complete the work on a fixed 'No Move, No Fee' basis. Our conveyancers work on a fixed No Sale, No Fee basis, with no hidden fees. Your conveyancing quote will explain what you will be charged when your house or flat sale completes.
Are there any other costs?
In addition to the legal fees you will also have to pay for 'disbursements'.
Disbursements are the costs incurred by the solicitor on your behalf. These include costs like Stamp Duty Land Tax (SDLT) or managing agent information.
How much will conveyancing in Cowes cost in total?
Conveyancing fees in Cowes will be the same as anywhere else in the country. However, the costs of certain disbursements can vary. As examples, Local Authority Search fees can vary and additional region-specific searches, such as a mining search, may be needed.
For standard conveyancing transactions, the conveyancing fee we quote is the fee you pay. There are no hidden fees or nasty surprises with Quittance. Work out the conveyancing fees for your move, with our conveyancing calculator: Click here
Conveyancing - Buying a property in Cowes
Caveat emptor, (Latin for "let the buyer beware"), was a key part of English property law. Following recent changes in the law, this maxim no longer applies. However, it remains the responsibility of a homebuyer and their solicitor to carry out due diligence on a planned purchase.
A conveyancing solicitor in Cowes will give advice once their enquiries are complete, iron out any legal issues and register the title in the new owner's name.
The following considers those areas of the legal process for conveyancing solicitors in Cowes where specialist conveyancing skills may be necessary.
Your Cowes conveyancing solicitor must be lender-approved
Before you select a conveyancing solicitor in Cowes, it is vital that you check that they are on the panel of your mortgage lender, whether you are taking out a mortgage from the Market Harborough Building Society, Britannia or any other lender.
Most banks and building societies only accept a restricted panel of firms. If your conveyancer is not on the panel of your mortgage lender, the lender will likely need a different firm to complete the legal work.
You will be expected to pay this second solicitor's fees and the conveyancing process could take much longer.
Quittance Conveyancing can perform the conveyancing for all mortgage providers.
- Lloyds Bank
- Barclays Bank
- HSBC Bank
- The Royal Bank of Scotland
- Santander Bank
- Nationwide Building Society
- Halifax Bank
- All UK lenders
Searches (Isle of Wight Council)
Property searches will be applied for by Cowes conveyancing solicitors to help identify any pertinent information that might reduce how much your property is worth.
These searches include the local authority (LA) search, drainage & water search, environmental search and chancel repair liability.
Purchasers will be told if your mortgage lender requires any further searches, such as an HS2 search or a mining search.
The approximate delivery time for searches provided by Isle of Wight Council is 10 weeks. As a result, quicker regulated searches will be recommended.
Checking planning status
The buyer's conveyancing solicitor also retrieves official entries from HM Land Registry. This helps to find any planning issues, such as rights or restrictions on how the property may be used or outbuildings lying outside the boundary.
Isle of Wight Council Council Tax
As a homeowner in Cowes, the applicable rate of council tax will vary depending on the value of the home (as assessed in 1991) and the number of people living in it. For instance the occupier of a Valuation Band E property in the Isle of Wight Council area would pay annual council tax of £2,208.
Conveyancing solicitors in Cowes will inform a purchaser of the property's tax band once they are made aware.
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 £1,656.
Other discounts and exemptions may also apply, for example unoccupied properties undergoing major repairs or structural changes or if the property is left empty by someone receiving medical treatment. The Valuation Office Agency (VOA) work out council tax bandings for newly-built homes, and where the owner has requested a revaluation.
|Band||Isle of Wight Council Tax (2018)|
What to do if you suspect your new home is incorrectly valued
A homeowner can challenge the council tax band after moving in. Between April 2016 and April 2017, 70 council tax challenges were made. 30 resulted in a reduction. To appeal contact:
Valuation Office Agency
Isle of Wight
Stamp Duty on Cowes properties
Quittance Conveyancing ensure that the critical SDLT1 form is completed accurately and without delay.
This table sets out SDLT for property in Cowes:
|Average selling price (2017)||Stamp Duty|
|Average price (detached)||£367,070||£8,353.50|
|Average new build||£474,000||£13,700.00|
Stamp duty relief for first-time buyers in Cowes
As from 2017, first-time buyers will not have to pay any stamp duty if the purchase price is below £300,000. Homeowners must pay a higher rate of SDLT when buying a second home. Following the example above, if a homeowner bought a second home in Cowes for the average price of £259,809 the SDLT would be £20,784.72.
Cowes conveyancing solicitors should confirm the correct tax is paid.
Buying a flat? Leasehold conveyancing in Cowes
It is rarely a good idea to buy a leasehold home without being aware of the facts. The many potential traps awaiting the unsuspecting purchaser could include unreasonable ground rents and costly and undisclosed major works.
If you intend to purchase a leasehold property, a expert conveyancing solicitor in Cowes will investigate aspects of the leasehold purchase, e.g. managing agent or landlord enquiries, understanding regional and era-specific nuances of leases and unexpired lease terms.
Make sure that you are fully-informed regarding your decision to buy a leasehold property with Quittance Conveyancing's specialist leasehold conveyancing solicitors.
Buying a 'New Build' property in Cowes?
The average cost of Cowes new build properties is £474,000. 2 new build homes were purchased in Cowes last year.
The legal side of acquiring a new build is considerably more complicated than buying a 'secondhand' home. To avoid potential problems a Cowes conveyancing solicitor should be aware of local issues and will consider a range of issues, e.g. squaring developer incentives with lenders and spotting incomplete agreements for roads and sewers.
Our highly qualified conveyancing team specialise in ensuring that new build contracts favour the client as much as possible and working to developer exchange timeframes.
Isle of Wight Conservation areas
Whether you are a fan of Edwardian, Victorian or Tudor-style architecture, purchasing property in a conservation area-protected street usually means that the local character will be preserved. However, conservation area conditions will affect your residential property.
Called Article 4 directions, these building controls could include:
- Restrictions on replacing roof tiles
- General restrictions governing the use of non-traditional materials
- Limits on side or two-storey extensions
The new owner could be ordered to pay for necessary changes to bring a property in line with current regulations, even if the changes were made by the previous owner.
The local planning authority (LPA) for Isle of Wight has designated conservation area status on certain areas of Cowes. Quittance's conveyancing solicitors will address whether the home you plan to buy is located in a conservation area in Cowes.
Conveyancing - Selling a property in Cowes
The legal process for a sale of a home is less demanding than for a purchase. The purchaser needs to carry out a thorough legal appraisal on the legal title of your home, whilst conveyancing solicitors in Cowes acting for the vendor merely collects all documents and information relating to the property and replies to the solicitor's standard and additional enquiries .
What factors could threaten your sale?
Common hurdles, such as previous or historic subsidence or not having permission for alterations when in a conservation area, can actually delay the sale conveyancing process if left unresolved.
Property experts will almost always suggest that vendors address these issues immediately.
- The Essential Conveyancing Guide for Sellers in 2018
- Dispute with a neighbour? What to do before selling your home
- Selling a leasehold flat? What to do before going on the market
For more conveyancing advice for sellers click here.
Selling a leasehold property
The conveyancing process for a leasehold flat is significantly more difficult in comparison with a freehold house.
Conveyancing solicitors in Cowes must usually carry out further legal work, including sourcing service charge accounts, through to finding out if there are any payment arrears.
It is generally a good idea to instruct a property lawyer as soon as possible to reduce delays associated with leasehold property. Some Managing agents are painfully slow to respond.
Can Quittance conveyancers act for the buyer and the vendor in one transaction?
Conveyancers regulated by the CLC can act for both sides. However, SRA rules ban a single conveyancing solicitor from acting on both sides in a property sale and purchase.
You could contact a local Cowes conveyancing solicitor firm to handle your legal work, if a Quittance conveyancer is acting for the other side.
Local Cowes conveyancing solicitor directory
- Walter Gray & Co Limited, Baring Chambers, 13 Denmark Road, Cowes, Isle of Wight, PO31 7SY
- Diana Deacon Limited, 36 Castle Road, Cowes, Isle of Wight, PO31 7QZ
Conveyancing - Remortgaging a property in Cowes
Although there are many reasons to remortgage, homeowners generally remortgage their home to get a more affordable interest rate.
Homeowners can enjoy the benefits of a lower rate faster by using a more efficient conveyancing solicitor in Cowes, reducing the time the conveyancing takes to complete. With the Bank of England base rate now at 0.5% (May 2018), fast conveyancing can be a contributing factor to getting on to the rate you want.
The property lawyer carrying out your remortgage should also be able to act for your chosen mortgage provider. Our conveyancing team are on all major UK lenders' panels. So no matter whether you are changing to a fixed-rate mortgage with the HSBC or to a joint mortgage with the Dudley Building Society, our remortgage specialists can help.
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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