Award-winning No Move, No Fee conveyancing for Isle Of Wight home movers
By Gaynor Haliday, Legal researcher
Updated: October 12, 2018
Quittance Conveyancing offer 100% fixed conveyancing fees, and our commitment to better communication means you will never be in the dark about the legal side of your move.
Whether you are buying or selling a house or flat and need conveyancing solicitors in Isle Of Wight, our expert No Sale, No Fee property lawyers are here to help.
If, for any reason at all, your property sale or purchase does not proceed our no sale no fee guarantee means you won't incur any conveyancing solicitors' legal fees.
Isle Of Wight's most communicative conveyancing service
According to market research carried out by Veyo, 1 in 3 of the people who took part in the study said they were not kept informed during the conveyancing process.
The Law Society's 'Conveyancing Quality Scheme' official client charter specifically references conveyancing solicitors communicating better.
Even so, a Conveyancing Association survey, suggested 23% of conveyancing transactions fall through due to poor communication.
Quittance Conveyancing's team of Isle Of Wight conveyancing solicitors provide the UK's most proactive and client-friendly conveyancing service. We strive to deliver to you the information you require by phone, email and via our case management app, every day of the week:
- Cheapest Isle Of Wight conveyancing solicitor fees
- Open weekends - Saturday (9am-1pm)
- Open Mon to Thurs 9am-8pm & Fri 9am-6pm
- Regular progress notifications by your chosen method (including SMS, phone and email)
- Access to your online file
- Contact details for your lawyer
Updated: October 12, 2018
Isle Of Wight conveyancing solicitor fees
No Move, No Fee conveyancing in Isle Of Wight
Conveyancing solicitor fees are the costs you pay to your Isle Of Wight conveyancing solicitor for the legal work involved in moving home.
Do Isle Of Wight conveyancing solicitors work on a fixed fee basis?
Some conveyancing solicitors in Isle Of Wight will work on a price per hour basis, and other firms will work for a fixed fee ('No Move, No Fee'). Our conveyancers work on a No Sale, No Fee basis, with no hidden costs. Your conveyancing quote explains what you will pay when your house or flat sale completes.
Are there any other costs?
In addition to the legal fees you will also have to cover any 'disbursements'.
Disbursements are fees, costs or taxes the conveyancing solicitor will have to pay to other organisations as part of the house-buying and selling process, such as bankruptcy checks or ID checks.
How much will the total Isle Of Wight solicitor conveyancing fees be?
Although conveyancing fees in Isle Of Wight will be the same as anywhere else in the country, there can be variation in the disbursements required. As examples, council search fees will vary and additional region-specific searches, such as a mining search, may be needed.
With Quittance, there are no unexpected costs or surprises in the small print. For standard conveyancing transactions, the fees we quote are the fees you pay. To calculate your conveyancing fees, try our conveyancing fees quote calculator: Click here
Conveyancing - Buying a property in Isle Of Wight
Lying 2 miles off the Hampshire coast, the Isle of Wight has been a popular holiday destination since Victorian times. Its mild climate, beautiful beaches and lack of motorways and airports, offer a relaxed way of life, yet crossing from the north of the island to mainland takes only 10 minutes by Hovercraft, making it a reasonable commute to Southampton or Portsmouth.
From town life to small villages, the Island is an ideal living choice for people looking for old fashioned community values and spirit.
The main settlements are Newport, Ryde, Cowes, Sandown, Shanklin and Ventnor.
Conveyancing for purchasers
In carrying out the legal work for a property buyer, the conveyancing solicitor in Isle Of Wight will look into the title of the property and make their "report on title".
Once their enquiries are complete the lawyer will give advice and will solve outstanding issues and ensure the title is transferred to the new owner.
The following discusses those types of property which may be of interest to people looking for conveyancing solicitors in Isle Of Wight for a purchase.
Your Isle Of Wight conveyancing solicitor must be lender-approved
Regardless of whether you are obtaining a mortgage from Santander, the Buckinghamshire Building Society or any other lender, before selecting a conveyancing solicitor in Isle Of Wight you must confirm that they can act on behalf of your chosen lender.
Your conveyancer may not be able to carry out the legal work on behalf of your chosen lender, because some lenders are only prepared to work with a select list (referred to as a 'panel') of firms that meet stringent standards.
If this is the case, the lender will probably require a different legal firm to carry out the legal work, and you will be expected to pay this alternate solicitor's fees. The additional work can mean the process takes much longer.
Quittance Conveyancing are approved members of all lender panels.
- Lloyds Bank
- Barclays Bank
- HSBC Bank
- The Royal Bank of Scotland
- Santander Bank
- Nationwide Building Society
- Halifax Bank
- All UK lenders
Conveyancing Searches (Isle of Wight Council)
Residential property searches are questions submitted to a number of authorities by Isle Of Wight conveyancing solicitors to identify information and potential issues affecting the home you want to buy.
Lenders also need a list of searches to be obtained. These include:
|Local Authority (LA) search||exposes issues like road schemes that could affect the property|
|Drainage & Water search||identifies whether the owner or local authority must pay for the maintenance of water mains and sewers|
|Environmental search||environmental issues that could adversely affect the property|
|Chancel repair liability||some Isle Of Wight property may still owe a liability to the local parish for repairs. Insurance can be taken out to protect against this risk.|
More specialised searches, such as a highways authority search or a mining search, may also be advised depending on the contents of the standard searches.
The estimated delivery time for Local Authority searches obtained from Isle of Wight Council is 10 weeks. A private search company will be able to provide this information sooner.
Ensuring planning permission is in place
Office copies will also be applied for from HMLR by the purchaser's conveyancing solicitor. This helps to find potential planning issues. These issues could include that a restrictive covenant has been breached or a difference between the agent's floorplan and the title plan.
Isle of Wight Council Council Tax
Isle of Wight Council calculate council tax on Isle Of Wight homes based on the number of occupants and the historic value of the property (as valued at 1 April 1991). The occupier of a property in Band C, for example, would owe annual council tax of £1,606.
A conveyancing solicitor in Isle Of Wight will inform the purchaser of the home's tax band once this is confirmed by the searches.
If the property is unoccupied for over 24 months, the owner will pay 150% of the relevant rate. Single person discount reduces the tax due to 75%, which would equal £1,204.
Other discounts and exemptions may also apply, e.g. if the property is a second home then a 10% discount will be applied or if the property is owned by a charity and is unoccupied. New build homes are assessed by the Valuation Office Agency (VOA) and allocated a banding.
|Band||Isle of Wight Council Tax (2018)|
Could you be overpaying?
Owners can ask for their property to be reassessed. The band could be revised up as well as down. To challenge your banding contact:
Valuation Office Agency
Isle of Wight
Stamp Duty on Isle Of Wight properties
A buyer will usually need to pay stamp duty if the residential property they are buying is valued at over £125k. Given the complexity of the SDLT1 tax return form, only an experienced home buyer would attempt to complete and file this with HMRC without a conveyancing solicitor's help.
HMRC form rejections are avoided using the latest integrated case management system.
This table sets out stamp duty for typical property in Isle Of Wight:
|Average selling price (2017)||SDLT|
|Average price (detached)||£325,050||£6,252.50|
|Average new build||£210,350||£1,707.00|
Stamp duty relief for first-time buyers in Isle Of Wight
Since Nov 2017, if you are a first-time buyer, you only pay stamp duty on property valued at over £300,000. Higher rates of SDLT apply to buyers of second residential property in the form of a 3% surcharge. Following the example above, if a homeowner bought a second home in Isle Of Wight for the average price of £230,689 the SDLT would be £11,534.45.
Isle Of Wight conveyancing solicitors should ensure the right tax is paid.
Buying a flat? Leasehold conveyancing in Isle Of Wight
It has been recently reported that over 100,000 homeowners in the UK are trapped in property leases with unreasonable terms. There are many legal issues that may be lying in wait for an uninformed buyer, such as sub-letting restrictions and unreasonable ground rents.
If you are planning to buy a property with a lease, a good conveyancing solicitor in Isle Of Wight will consider possible leasehold issues, including service charges and whether they have been collected, short leases and managing agent practices.
Make sure that you are aware of all the potential issues and costs associated with the lease with Quittance Conveyancing's leasehold conveyancing solicitor team.
Buying a 'New Build' property in Isle Of Wight?
1 brand new homes have been bought in Isle Of Wight in 2018 so far, according to the Land Registry. The average price for Isle Of Wight new build homes is £200,000.
Acquiring a new build home is generally more complex than 'standard conveyancing'. To avoid potential problems a Isle Of Wight conveyancing solicitor must be conscious of Isle Of Wight-specific considerations and should check numerous things, such as handling equity loan schemes and ensuring compliance with planning regulations.
Our team of conveyancers are specialists in helping new build purchasers obtain the best possible terms and meeting short developer deadlines.
Whether you are a fan of Georgian, Edwardian or even Brutalist architecture, buying in a conservation area-protected street usually means that the local character will be preserved. However, conservation area constraints will affect your residential property.
Referred to as Article 4 directions, these constraints can include:
- Limits on roof terraces
- Restrictions on dormer windows
- Requiring consent to alter doors and guttering
The local council can order any non-compliant alterations to a property to be changed or removed, such as removing a satellite dish.
Conservation areas in Isle Of Wight include Yarmouth, Freshwater Bay and Shalfleet. Your conveyancing solicitor will confirm whether the property you are buying is located in one of Isle Of Wight's conservation areas.
Conveyancing - Selling a property in Isle Of Wight
The legal side of a property sale is less difficult than when buying. The purchaser will have to go through detailed research into the property and its legal title. Conveyancing solicitors in Isle Of Wight acting for the seller, however, merely answers the buyer's questions.
What could jeopardise the sale of your home?
A home will often come with numerous problems (e.g. not having suitable right of way or having a flying freehold) which could prolong the conveyancing process for weeks (or more).
It is usually recommended for sellers to handle such issues as soon as they come to light.
- The Essential Conveyancing Guide for Sellers in 2018
- Japanese Knotweed? What to do before selling your home
- Dispute with a freeholder? What to do before selling your home
Read more helpful advice for sellers here.
Conveyancing for a leasehold flat or house is a great deal more difficult than it is for a freehold home.
Leasehold complexity involves additional tasks on the part of conveyancing solicitors in Isle Of Wight, which could include obtaining the latest service charge and ground rent statement, through to a copy of the lease.
To accelerate the handling of the leasehold work, it is recommended that you instruct a leasehold specialist as soon as possible.
What if Quittance is acting for the other side?
A CLC-regulated conveyancer can act for both sides. However, SRA rules prevent a single conveyancing solicitor from acting on both sides in a house sale.
You can contact a property solicitor firm in Isle Of Wight to handle your legal work, if a Quittance solicitor is acting for the other side.0
Conveyancing - Remortgaging a property in Isle Of Wight
Whilst there are many reasons to consider remortgaging, people usually remortgage their home to get a more affordable interest rate.
An efficient conveyancing solicitor in Isle Of Wight will complete the conveyancing quickly, perhaps saving you from a payment or two at your old rate. With the future of interest rates uncertain, fast conveyancing can play a key role in getting on to the rate you want.
It is vital that the property lawyer carrying out the remortgage can act on behalf of your new mortgage provider. Our conveyancing team are on the panel for all major lenders, so whether you are switching to an interest-only mortgage with the Co-operative Bank or to a fixed-rate mortgage with the Leeds 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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