Updated: October 12, 2018

Olney conveyancing solicitor fees

No Move, No Fee conveyancing in Olney

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

Are Olney conveyancing fees and costs fixed?

Our solicitors work on a fixed No Sale, No Fee conveyancing basis with no hidden fees, unlike some other conveyancing solicitors in Olney who will work on a cost per hour basis. Your conveyancing quote sets out what you will pay when your house or flat sale completes.

Are there any other costs?

You will have to pay any 'disbursements', in addition to the legal fees.

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 managing agent fees.

See: Complete list of conveyancing fees

How much will conveyancing in Olney cost in total?

Though conveyancing fees in Olney will usually match prices elsewhere in the UK, the disbursements required can vary. For example, Local Authority (LA) Search fees will vary and specific extra searches, e.g. a historic mining search, may be necessary.

For a standard home sale or purchase, the fees we quote are the fees you pay. With Quittance Conveyancing, there are no unexpected costs or surprises in the small print. To calculate your conveyancing fees, try our conveyancing fees quote calculator: Click here

Quittance's conveyancing fees were considerably cheaper than the Estate Agent's recommended solicitor's fees

Conveyancing - Buying a property in Olney

Caveat emptor, (Latin for "let the buyer beware"), was a fundamental principle of property law in England and Wales. Following recent changes in the law, this principle no longer applies. However, it remains the duty of a buyer's legal representative to investigate their intended purchase.

A Olney conveyancing solicitor will offer professional advice following their enquiries, deal with any legal issues and confirm that the Land Registry's record of the property is updated.

This section provides useful guidance for buyers who want conveyancing solicitors in Olney.

Your Olney conveyancing solicitor must be lender-approved

There are around 100 UK lenders, from a large lender such as Birmingham Midshires, to a financial institution like the Chelsea Building Society. Before choosing a Olney conveyancing solicitor, you need to check that they can act for your lender.

Your conveyancer may be unable to act for your lender, because some lenders only accept a select panel of firms.

If this is the case, the lender will need an alternative solicitor firm to carry out the legal work, and you will be expected to pay this alternate solicitor's fees. Handling paperwork and correspondence with this additional party can delay the process.

Your home move could be threatened by failing to confirm your conveyancer's lender panel status.

Quittance Conveyancing are approved members of all lender panels.

Milton Keynes Council searches

Property searches (sometimes referred to as 'conveyancing searches') are enquiries made of government bodies by Olney conveyancing solicitors to give details about the home you want to buy.

Banks and building societies also expect certain searches to be applied for. Required searches will include:

  • Local Authority search - includes the LLC1 and CON29 which includes whether the home is in a conservation area
  • Drainage & Water search - identifies the location of sewers and water mains, and will confirm whether these are maintained by the local council.
  • Environmental search - shows risks within 500 metres of the property, such as toxic chemicals in the land
  • Chancel repair liability - involves the potential liability owed by the owners of certain property to pay for local parish church repairs. Insurance can be arranged to cover this risk.

Buyers will be informed if your lender needs any further searches, e.g. a Crossrail search or a Forestry Commission search.

The average delivery time for Residential property searches ordered from Milton Keynes Council is 14 weeks, so it will be worth using a faster private search company.

Ensuring planning permission is in place

Office copies will also be ordered from HMLR by the conveyancing solicitor acting for the purchaser. This will help to identify potential planning issues, for example that a restrictive covenant has been breached or the title plan showing only very general boundaries.

Milton Keynes Council Council Tax

As a homeowner in Olney, 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 Band C property in the Milton Keynes Council area would pay annual council tax of £1,487.

Olney conveyancing solicitors will inform a buyer of the home's tax band as soon as they are notified.

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 reduces the tax due to 75% which would equal £1,115.

Other discounts and exemptions may also apply, for example unoccupied properties undergoing major repairs or where the property is uninhabitable.

Band Milton Keynes Council Tax (2018)
A £1,115
B £1,301
C £1,487
D £1,673
E £2,044
F £2,416
G £2,788
H £3,345

Are you about you buy a home in the wrong council tax band?

From April 2016 to March 2017, 70 council tax challenges were made, of which 40 saw a subsequent reduction. To challenge your banding contact:

Valuation Office Agency
Northgate House
59-77 Sheep St
Northampton
NN1 2LL
Northamptonshire

Stamp Duty on Olney properties

The SDLT1 form is seven pages long, and HM Revenue and Customs (HMRC) fines those who delay in completing and returning it. When buying a home, stamp duty will probably need to be paid if the property is valued at over £125k.

Quittance's specialist post-completion team will ensure that the convoluted SDLT1 form is completed and submitted to HMRC without delay.

See table below for SDLT examples for properties in Olney:

  Average sale price (2017) Stamp Duty
Average price £377,020 £8,851.00
Average price (detached) £464,328 £13,216.40
Average new build - -
Homeowners must pay a higher rate of SDLT for the purchase of a second property. Therefore, if a homeowner in Olney bought a second property for the average price of £377,020 the SDLT would be £30,161.60.

Stamp duty relief for first-time buyers in Olney

For first-time buyers, stamp duty is only payable on purchases over £300,000.

Olney conveyancing solicitors will confirm the correct tax is paid.

Buying a flat? Leasehold conveyancing in Olney

New build site

Buying a leasehold house or flat if you are unaware of the implications is not recommended. The many potential complications lying in wait for an uninformed buyer include exponential ground rents, marriage value issues and incomplete management company accounts.

Inaccurate leasehold advice, from a conveyancer who has only ever handled freehold transactions, can have serious consequences.

If you are planning to buy a house or flat with a lease, a good conveyancing solicitor in Olney will consider possible leasehold issues, for example current-year service charge estimates, landlord/tenant disputes and managing agent practices.

Ensure that you are fully-informed regarding your decision to buy a leasehold property - Contact Quittance Conveyancing's team of leasehold conveyancing solicitors today on 0800 612 0377.

Buying a 'New Build' property in Olney?

House under construction

- newly-constructed homes -, based on data published by HMLR. The average price for new builds in Olney is -.

The legal side of acquiring a new build property is generally more complex than 'standard conveyancing'. To avoid potential problems a Olney conveyancing solicitor should be mindful of local factors and should consider a range of factors, like handling equity loan schemes and ensuring new estate roads are adopted.

Our highly qualified team of new build conveyancers are experts in helping the buyer get the best possible purchase terms and working to tight developer deadlines.

Buckinghamshire Conservation areas

If you are purchasing a house in one of Olney's conservation areas, the property will need to meet any conservation area building controls. These restrictions could include restrictions on the removal of front boundary walls, railings or fences, limits on the use of cladding or restrictions on extensions normally within Permitted Development rights.

The new owner could be ordered to pay for necessary changes to bring a property in line with current regulations, even if the previous owner carried out the alterations.

Parts of Olney are within a conservation area governed by the Milton Keynes local planning authority (LPA). Your conveyancing solicitor will confirm whether the property you are buying is located in one of Olney's conservation areas.

Conveyancing - Selling a property in Olney

Conveyancing for a property sale is less demanding than for a property purchase. When a house or flat changes hands, the responsibility is on the buyer to confirm that the property's title can be mortgaged and is free from legal issues.

In contrast, for a sale, conveyancing solicitors in Olney acting for the existing owner effectively just answer the buyer's questions.

How to give yourself the best chances of success

Issues, such as problems with a party wall agreement, can easily protract a sale if not dealt with promptly.

Don't put off finding a solution, waiting to see if the problem is discovered. Get advice and work to resolve it as quickly as possible.

Further reading:

Read more sale conveyancing articles here.

Sale conveyancing for a leasehold property

The legal work for a leasehold property is a great deal more specialised than for a freehold house.

Conveyancing solicitors in Olney will also need to carry out additional work, and this could include requesting a complete pack of managing agent information, through to a copy of the insurance policy.

To help mitigate the delays involved in selling a leasehold house or flat, it is strongly advised that the seller instruct a conveyancer as early as possible.

Can Quittance conveyancers act for both sides?

Solicitors Regulation Authority rules ban the same conveyancing solicitor from working on behalf of both sides in a house sale and purchase. Conveyancers who are regulated by the CLC, however, can act for both the buyer and the seller.

You could contact a property solicitor firm in Olney to undertake your conveyancing, if a Quittance conveyancer is acting for the other side.

Local Olney conveyancing solicitor directory

  • J Garrard & Allen, 4 High Street, Olney, Buckinghamshire, MK46 4BB

Conveyancing - Remortgaging a property in Olney

Although people consider remortgaging for a range of reasons, people generally remortgage to reduce the monthly repayments.

A proactive conveyancing solicitor in Olney will complete the conveyancing quickly, meaning you move to your lower rate sooner. With the future of interest rates unclear, fast conveyancing can play a key role in getting onto your new rate as quickly as possible.

It is important that your property lawyer is also able to act for your preferred mortgage provider. Our conveyancers are panel members of all major banks and building societies. So no matter whether you are changing to an interest-only mortgage with the Halifax or to a fixed-rate mortgage with the Barnsley Building Society, Quittance can help.

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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