Updated: October 12, 2018

Streatham conveyancing solicitor fees

No Move, No Fee conveyancing in Streatham

Conveyancing solicitor fees are paid to conveyancing solicitors in Streatham for the legal work involved in moving home.

Do Streatham conveyancing solicitors work on a fixed fee basis?

Quittance's conveyancing solicitors work on fixed legal fees (known as 'No Sale, No Fee' or 'No Move, No Fee') with no unexpected, additional costs, unlike some other conveyancing solicitors in Streatham who will work on a price per hour basis. Your conveyancing quote will explain all fees and other costs you will be charged when your house or flat sale completes.

Besides conveyancing fees, what other costs are there?

You will need to budget for 'disbursements', on top of the conveyancing fees.

Disbursements are fees, costs or taxes that your property solicitor will have to pay to third parties on behalf of their client. These include costs like Stamp Duty or telegraphic transfer fees.

See: Complete list of conveyancing fees and disbursements

How much will the total conveyancing fees in Streatham cost?

Streatham conveyancing fees will be the same as anywhere else in the country. However, there may be some variation in certain disbursements. As examples, Local Authority (LA) Search fees will vary and additional region-specific searches, e.g. a flooding search, may be needed.

For a standard sale or purchase, the conveyancing fee we quote is the fee you pay. With Quittance Conveyancing, there are no hidden fees or surprises in the small print. To calculate the conveyancing fees for your move, 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 Streatham

The conveyancing for the purchase of a house or flat needs the conveyancing solicitor in Streatham to consider a wide range of issues. Examples of such issues are lost title deeds and the mortgageability of the property itself.

The buyer's property lawyer will report their findings back to the buyer and their mortgage lender, help to fix or resolve any legal issues and register the title in the new owner's name.

This section discusses the kinds of residential property which may be of interest to buyers who want conveyancing solicitors in Streatham.

Your Streatham conveyancing solicitor must be lender-approved

There are many mortgage providers available to homebuyers, from a large lender such as Sainsbury's Bank, to a financial institution like Paragon. Before selecting a conveyancing solicitor in Streatham, it is critical that you make sure that they are on the panel of your chosen lender.

Your lawyer may be unable to act for your chosen lender, because some lenders are only prepared to work with a restricted panel of legal practices that meet stringent standards.

If this is the case, the lender will need an alternative law firm to act in their interests, and you will usually need to pay this second lawyer's costs. Adding another solicitor to the process can delay the whole purchase.

Failing to check the lender panel membership of your conveyancing solicitor can create problems and delays.

Quittance Conveyancing are approved members of all lender panels.

Searches (Lambeth Borough Council)

Property searches (sometimes referred to as 'conveyancing searches') are submitted by Streatham conveyancing solicitors to expose any broader issues that might possibly reduce how much your house or flat will be worth. They include:

  • Local Authority search - contains information about the property and surrounding area held by Lambeth Borough Council
  • Drainage & Water search - covers the location of water pipes and drains, and reveals if the upkeep for these falls on the owner or local council.
  • Environmental search - reveals contaminated land, landfill sites and flooding or subsidence within 500m of the property.
  • 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 mortgage lender wants any further searches, for example a highways search or a contaminated land report.

The London Borough of Lambeth has an average lead time of 6 weeks for LA searches, so faster personal (as opposed to official) searches will be recommended.

Planning permissions

The buyer's conveyancing solicitor will apply for the Title Register from the Land Registry, helping to identify any issues, such as limits on the development of the property or discrepancies with the filed plan.

London Borough of Lambeth Council Tax

London Borough of Lambeth calculate your council tax based on a variety of factors such as the square footage of the property and the value of the property. For instance for an average Band D house in Streatham, the amount due would be £1,386.

A conveyancing solicitor in Streatham will inform the purchaser of the home's council 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 £1,040.

Other discounts and exemptions could also apply, for example unoccupied properties undergoing major repairs or if the property is left empty by someone receiving medical treatment. New build property is assessed by the Valuation Office Agency and allocated a council tax banding.

Band London Borough of Lambeth Tax (2018)
A £924
B £1,078
C £1,232
D £1,386
E £1,694
F £2,002
G £2,310
H £2,773

From April 2016 to March 2017, 40 council tax challenges were made, of which 10 were upheld and refunds awarded. To appeal contact:

Valuation Office Agency
2nd Floor
1 Francis Grove
London
SW19 4DT

Stamp Duty on Streatham properties

If a house is valued at over £125k, the buyer usually must pay stamp duty. SDLT is paid to HMRC and the purchaser's conveyancing solicitor will ensure that the tax return process is carried out.

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

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

  Average sale price (2018 to date) Stamp Duty
Average price £880,307 £34,015.35
Average price (detached) £711,410 £25,570.50
Average new build £449,784 £12,489.20

Stamp duty relief for first-time buyers in Streatham

In Nov 2017, it was announced that first-time buyers would be exempt from paying stamp duty on homes below £300,000. Higher rates of stamp duty apply to buyers of second residential property in the form of a higher rate of 3%. For example, if a property owner bought a second property in Streatham for the average price of £880,307 the stamp duty would be £70,424.56.

Conveyancing solicitors in Streatham should confirm an accurate calculation is made.

Buying a flat? Leasehold conveyancing in Streatham

New build site

Recent media reports have suggested that over 100,000 UK homeowners are trapped by leases with problematic terms. Spiralling ground rents, freeholds sold without first refusal to leaseholders and overpriced managing agent packs are but a few of the frequent complications lying in wait for an uninformed buyer.

Erroneous leasehold advice, from an inexperienced conveyancer, can have costly, long-term consequences.

A expert conveyancing solicitor in Streatham will address aspects of leasehold, for example checking the lease itself, dealing with landlords and service charges, ground rents and buildings insurance arrangements.

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

Buying a 'New Build' property in Streatham?

House under construction

Based on local Land Registry statistics, 450 new build homes have been bought in Streatham in 2018 so far. The average price for Streatham new build homes is £449,784.

Purchasing a new build property is generally more complex than 'standard conveyancing'. To avoid potential problems a Streatham conveyancing solicitor must be mindful of local Streatham issues and must check numerous things, such as handling the uncertainties of buying off plan and checking that any contracts allow for future 'common parts' maintenance.

With Quittance Conveyancing, you will get an impartial assessment of the legal title of the house or apartment, with close attention paid to considerations ranging from the home's future resaleability to an assessment of other risks, such as flood risk.

London Conservation areas

If you are intending to purchase a residential property in one of Streatham's conservation areas, the property will need to meet any conservation area conditions. Called Article 4 directions, these conditions may include:

  • Limits on the use of non-traditional building materials
  • A ban on VELUX windows
  • Restrictions on outbuildings and extensions

If a property is in breach, the local authority could order you (as the new owner) to pay for returning the property to a compliant state, even where the alterations were made by the previous owner.

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

Conveyancing - Selling a property in Streatham

The conveyancing process on a sale of a house or flat is less demanding than for a property purchase. The buyer's solicitor has to carry out an investigation on the legal title of your home. In contrast, conveyancing solicitors in Streatham acting for the vendor merely collates requested paperwork (e.g. warranties and certificates) and answers the buyer's questions .

Why do sales fall through?

Common hurdles, such as previous or historic subsidence or having a flying freehold, can actually jeopardise your home move if not dealt with promptly.

It is better not to hide from the issue as it is the buyer's solicitor's job to spot problems. Instead, you should get legal advice, face the issues head on, and find a solution as soon as you can.

Further reading:

Read more helpful advice for sellers here.

Sale conveyancing for a leasehold property

The conveyancing process for a leasehold property is quite a lot more protracted than for a freehold house.

Conveyancing solicitors in Streatham will also need to carry out additional work, which could include writing to the landlord for managing agent information, through to information about any reserve fund that may be held.

It is highly recommended that you instruct a leasehold specialist as soon as is practicable to ensure the legal technicalities are handled correctly.

What if Quittance is acting for the other side?

Conveyancers regulated by the CLC can act for both the buyer and the seller. However, Solicitors Regulation Authority (SRA) rules prevent the same solicitor from acting on both sides in a house sale and purchase.

If you are buying or selling a Streatham property, and a Quittance conveyancer is acting for the other side, you could instruct a property solicitor firm in Streatham to carry out your legal work.

Local Streatham conveyancing solicitor directory

  • Azam Khan & Co Solicitors, 2 Mount Ephraim Road, Streatham Hill, London, SW16 1NG
  • By Law Limited, 62 Streatham High Road, London, London, SW16 1DA
  • Mcmillan Williams, 211-213 Streatham High Road, Streatham, London, SW16 6EG
  • Mcmillan Williams Solicitors Limited, 211-213 Streatham High Road, London, SW16 6EG
  • A L Hughes & Co, 340 Streatham High Road, London, SW16 6HH

Conveyancing - Remortgaging a property in Streatham

By far the most common reason people remortgage a home is to benefit from a lower interest rate. There are a number of other reasons to consider remortgaging, for example the existing lender having refused a payment holiday, or releasing equity.

A proactive conveyancing solicitor in Streatham can reduce the remortgage processing time, perhaps saving you from a payment or two at your old rate. With the Bank of England base rate now at 0.5% (May 2018) and rate rises anticipated, fast conveyancing can be a contributing factor to securing your preferred rate.

The property lawyer will act for both you and the mortgage lender to certify the lender's investment is secured and the lender's new interest is correctly registered.

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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