Updated: October 12, 2018

Fakenham conveyancing solicitor fees

No Move, No Fee conveyancing in Fakenham

Conveyancing solicitor fees are the amounts you pay your Fakenham conveyancing solicitor for carrying out the legal work for a property transaction.

Are Fakenham conveyancing fees and costs fixed?

Some conveyancing solicitors in Fakenham carry out the legal work on a price per hour basis. Some solicitors will complete the work on a fixed 'No Move, No Fee' basis. Our conveyancers work on a No Sale, No Fee basis, with no unexpected, additional costs. Your conveyancing quote sets out what fees you will need to pay when your sale or purchase goes through.

Are there any other costs?

You will need to budget for 'disbursements', in addition to conveyancing solicitor fees.

Disbursements are the costs incurred by the solicitor on your behalf, such as Stamp Duty or office copies and title plans.

See: A guide to conveyancing fees, costs and disbursements

How much will the total Fakenham solicitor conveyancing fees be?

Though conveyancing fees in Fakenham will be the same as anywhere else in the country, there can be variation in the disbursements required. For example, additional region-specific searches, such as utilities searches, may be needed and council search fees will vary.

For standard conveyancing transactions, what we quote is the fee you pay. With Quittance, there are absolutely no hidden costs. Calculate the conveyancing fees for your move, with our conveyancing fees calculator: Click here

Quittance's fees were cheaper - less than half the Estate Agent's recommended solicitor's fees

Conveyancing - Buying a property in Fakenham

When carrying out the legal work for the purchase of a house or flat, a conveyancing solicitor in Fakenham will carry out due diligence on the tenure and investigate the title of the property and make their "report on title".

After making their enquiries the lawyer will offer suggestions and advice and will offer pragmatic solutions and ensure that the change of ownership is registered at the Land Registry.

This part of the article examines those residential property types that involve additional hazards for buyers who need conveyancing solicitors in Fakenham.

Your Fakenham conveyancing solicitor must be lender-approved

There are around 100 UK lenders, from a less common lender like the Skipton Building Society, to a major lender such as the Royal Bank of Scotland. Before appointing a conveyancing solicitor in Fakenham, whoever you choose, it is paramount that you confirm that they can represent your mortgage lender.

Your conveyancer may be unable to act for your mortgage lender, because some mortgage lenders will only work with a restricted list (called a 'lender panel') of law firms.

If this is the case, the lender will need a different law firm to complete the legal work, and you will then have to cover this alternative lawyer's costs. The additional work can mean the process takes much longer.

Your property purchase could be threatened by failing to confirm your lawyer's lender panel status.

Quittance Conveyancing can act on behalf of all banks and building societies.

Residential Property Searches (North Norfolk District Council)

Searches are applied for by Fakenham conveyancing solicitors in order to identify any significant issues that could possibly compromise how much the property you are purchasing will be worth.

These searches include the local authority (LA) search, drainage & water search, environmental search and chancel repair liability.

Your conveyancer will tell you if your lender wants any more searches, e.g. a more detailed flood report or a ground stability report.

Purchasers will have to endure a wait of roughly 9 weeks for property searches provided by North Norfolk District Council. Your conveyancer will alternatively recommend using a faster search agent.

Checking planning permission status

Official Entries (or 'office copies') will also be applied for from HM Land Registry by your conveyancing solicitor, helping to evidence planning issues, such as rights or restrictions on how the property may be used or discrepancies with the filed plan.

North Norfolk District Council Council Tax

North Norfolk District Council calculate your council tax based on a variety of factors e.g. the square footage of the property and the property's value as at 1 April 1991. For instance for an average Band B residential property in Fakenham, the amount due would be £1,362 per year.

A conveyancing solicitor in Fakenham will inform a buyer of the home's council 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 £1,022.

Other discounts and exemptions may also apply, for example a 10% discount for second homes (although this may change as the government has second home ownership in its sights) or if the property is occupied by someone who is seriously mentally impaired. New build homes are assessed by the Valuation Office Agency (VOA) and allocated a council tax band.

Band North Norfolk District Council Tax (2018)
A £1,167
B £1,362
C £1,557
D £1,751
E £2,140
F £2,529
G £2,919
H £3,502

Does anyone ever challenge their valuation?

In the 2016/17 financial year, 20 council tax challenges were made, and 0 were upheld and refunds awarded. Contact the VOA for more information on how to challenge your tax band:

Valuation Office Agency
Rosebery Court
Central Avenue
St. Andrews Business Park
Norwich
NR7 0HS
Norfolk

Stamp Duty on Fakenham properties

If you are buying a property in England, Wales or Northern Ireland then you will usually need to pay stamp duty. The purchaser's conveyancing solicitor will ensure that the stamp duty is correctly calculated and is paid to HMRC. This occurs once the property sale has completed.

Penalties for errors or late filing of the SDLT1 form can be as high as 30%. Quittance use state-of-the-art case management system to ensure that SDLT is paid immediately after completion.

This table sets out SDLT for average property in Fakenham:

  Average sale price (2018 to date) Stamp Duty
Average price £279,886 £3,994.30
Average price (detached) £394,714 £9,735.70
Average new build £294,750 £4,737.50
Higher rates of stamp duty apply to buyers of second home in the form of a higher SDLT rate of 3%. E.g. if a second property was bought for £279,886 then the stamp duty including the surcharge would be £22,390.88. .

Stamp duty relief for first-time buyers in Fakenham

Since the budget announcement in 2017, if you are a first-time buyer, you only pay stamp duty on property valued at over £300k with relief up to £500,000 in some areas.

Fakenham conveyancing solicitors should ensure their client pays the correct amount.

Buying a flat? Leasehold conveyancing in Fakenham

New build site

The potential risks associated with leasehold property ownership are a worry for buyers of leasehold property. There are numerous technical issues that could be lying in wait for the unsuspecting purchaser, including restrictions on the use of the property and unreasonable ground rents.

Serious consequences can result from a solicitor's misguided leasehold advice.

A competent conveyancing solicitor in Fakenham will consider potential leasehold issues, e.g. :

  • sometimes ancient and arcane lease documents
  • reviewing correspondence between the freeholder and leaseholder
  • annual statements of account and budgets for service charges
  • freeholder plans to sell the building

Make sure that you are fully-informed regarding your planned purchase - Get in touch with our specialist leasehold conveyancing solicitors today on 0800 612 0377.

Buying a 'New Build' property in Fakenham?

House being built

2 new build homes have been bought in Fakenham in 2018 so far, according to information compiled by the HM Land Registry. The average sale price of Fakenham new build homes is £294,750.

Acquiring a new build home is generally more complex than 'standard conveyancing'. Therefore a conveyancing solicitor in Fakenham must be aware of both region-specific considerations and also needs to consider a range of factors, like handling unreasonable delays and confirming Section 38 agreements.

With our new build team, you will get an expert appraisal of the legal title of the house or apartment, whilst being mindful of concerns like the home's future mortgageability and an assessment of other risks, such as flood risk.

Conservation areas in Norfolk

Your conveyancing solicitor will need to confirm if the home you are purchasing is in one of Fakenham's conservation areas. If it is, the property will be affected by certain restrictions. Referred to as Article 4 directions, these building controls could include restrictions preventing the addition of frontal sloping rooflights, restrictions on the addition of cladding or restrictions on the erection of outbuildings.

The local council can order any non-compliant alterations to a property to be changed or removed.

Your conveyancing solicitor will address whether your planned purchase is located one of Fakenham's conservation areas.

Conveyancing - Selling a property in Fakenham

The legal side of a sale of a home is much easier than for a property purchase. The buyer's conveyancer will have to go through thorough due diligence into the property's title and other legal aspects, whereas conveyancing solicitors in Fakenham acting for the seller merely answers the purchaser's enquiries.

Why do sales fall through?

A house or flat can face many possible complications (such as a historical dispute with a freeholder or an issue with noisy neighbours) that might stop the conveyancing process in its tracks.

In the majority of cases, it is advisable for vendors to tackle such issues head on.

Useful reading:

Read more conveyancing advice for sellers.

Leasehold

The legal work for a leasehold property is a great deal more technical than it is for a freehold home.

Conveyancing solicitors in Fakenham will also carry out additional work, for example collating all relevant freeholder information, through to details of any deed of variation.

It is generally a good idea to contact a lawyer as early as possible to reduce the impact of any leasehold-caused difficulties.

What if you are acting for the other side?

Solicitors Regulation Authority (SRA) rules restrict the same solicitor from working on behalf of both sides in a property sale and purchase. However, a conveyancer who is regulated by the CLC, can act for both the buyer and the seller.

If you are buying or selling a Fakenham home, and a Quittance solicitor is acting for the other side, you can contact a property solicitor firm in Fakenham to handle your legal work.

Local Fakenham conveyancing solicitor directory

  • Butcher Andrews, 1 Old Post Office Street, Fakenham, Norfolk, NR21 9BL
  • Hayes + Storr Limited, 18-19 Market Place, Fakenham, Norfolk, NR21 9BH

Conveyancing - Remortgaging a property in Fakenham

Whilst homeowners consider remortgaging for a range of reasons, people will usually remortgage a home to get a better interest rate.

You will typically be able to benefit from a better rate sooner with a more proactive conveyancing solicitor in Fakenham. They will work to reduce the processing time of the conveyancing. With the base rate set at 0.5% (May 2018) and rate rises hard to predict, fast conveyancing can be a critical factor in securing the rate you want.

It is vitally important that your property lawyer can also represent the new mortgage lender. Our conveyancers are on the panel for all major UK lenders, so whether you are changing to a variable-rate with the Royal Bank of Scotland or to a discounted-rate mortgage with Virgin Money, we can assist.

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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