Updated: October 12, 2018

Wanstead conveyancing solicitor fees

No Move, No Fee conveyancing in Wanstead

Conveyancing solicitor fees are the amounts you pay to conveyancing solicitors in Wanstead for the legal work associated with moving home.

How are Wanstead conveyancing fees calculated?

Our conveyancing solicitors work on a fixed No Sale, No Fee basis with no hidden fees, unlike some other conveyancing solicitors in Wanstead who offer services on a fees per hour basis. Your quote sets out what you will be charged when your sale or purchase goes through.

Besides conveyancing fees, what other costs are there?

On top of the conveyancing fees you will also have to cover any 'disbursements'.

Disbursements are the third-party costs that your conveyancer will pass on to you at the end of the conveyancing process, such as indemnity insurance or property searches.

See: Complete list of conveyancing fees and disbursements

How much will the total Wanstead solicitor conveyancing fees be?

Whilst conveyancing fees in Wanstead will usually match prices elsewhere in the UK, there can be variation in the disbursements required. As examples, additional region-specific searches, such as a commons registration search, may be needed and council search fees will vary.

For a standard conveyancing transaction, the fees we quote are the fees you pay. There are no hidden costs or surprises to be paid with Quittance. Work out the conveyancing fees for your move, with our conveyancing calculator: Click here

Quittance's conveyancing fees were substantially lower than the average solicitors' fees, and their service was first-rate

Conveyancing - Buying a property in Wanstead

A seller is now required to disclose issues that could affect the value or enjoyment of their property to the prospective buyer.

It is, however, still the duty of a conveyancing solicitor in Wanstead to carry out due diligence on the property, report back to the buyer and the lender, iron out any legal issues and register the new owner's title at the Land Registry.

This section of the article discusses elements of the legal process for conveyancing solicitors in Wanstead that demand specialist knowledge.

Your Wanstead conveyancing solicitor must be lender-approved

Whether you are taking out a mortgage from the Ecology Building Society, the HSBC or any other lender, before you choose a conveyancing solicitor in Wanstead you need to check that they can represent your chosen lender.

Many lenders will only work with a select list (referred to as a 'panel') of solicitors or licensed conveyancers that meet stringent criteria. If a solicitor is not on the panel of your chosen lender, the lender will require a different legal firm to carry out the legal work.

You will usually need to pay this second lawyer's costs, and weeks could be added to the conveyancing process.

Setbacks can occur if you fail to check your conveyancing solicitor's lender panel status.

Our conveyancing solicitors can perform the conveyancing for all banks and other lenders.

Redbridge Borough Council searches and other searches

Residential property searches will be applied for by Wanstead conveyancing solicitors to help identify problems that might undermine how much the property you are purchasing is 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 chosen lender insists on any additional searches, such as a highways search or a contaminated land report.

The London Borough of Redbridge has an approximate turnaround time of 7 weeks for searches, so faster personal searches will be preferred.

Planning searches

The conveyancing solicitor acting for the buyer will apply for official entries from the Land Registry. This will help to expose any potential issues, for example outbuildings lying outside the boundary or rights or restrictions on how the property may be used.

London Borough of Redbridge Council Tax

London Borough of Redbridge calculate your council tax based on various criteria including the layout of the property and the property's value as at 1 April 1991. The occupier of a property in Valuation Band D, for example, would owe annual council tax of £1,550.

Conveyancing solicitors in Wanstead will inform a buyer of the home's council 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 (25%) would reduce the tax due to £1,162.

Other discounts and exemptions may also apply, for example if the property is uninhabited (for the first 60 days) or where the property is uninhabitable.

Band London Borough of Redbridge Tax (2018)
A £1,033
B £1,206
C £1,378
D £1,550
E £1,894
F £2,239
G £2,583
H £3,100

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

To challenge your banding contact:

Valuation Office Agency
10th Floor
Crown House
Linton Rd
Barking
IG11 8HJ
Essex

In the financial year 2016/17, 40 council tax challenges were made, of which 10 saw a reduction.

Stamp Duty on Wanstead properties

SDLT is paid to HMRC and the purchaser's conveyancing solicitor will ensure that the tax return process is carried out.

The threshold for SDLT for a house is £125k.

Quittance Conveyancing ensure that the convoluted SDLT1 form is completed accurately and without delay.

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

  Average sale price (2017) Stamp Duty Land Tax
Average price £1,028,020 £46,552.00
Average price (detached) £1,209,120 £64,662.00
Average new build £854,797 £32,739.85
Higher rates of stamp duty apply to buyers of second home in the form of a 3% stamp duty surcharge. Following the example above, if a homeowner bought a second home in Wanstead for the average price of £1,028,020 the SDLT would be £133,642.60.

Stamp duty relief for first-time buyers in Wanstead

Since 2017, if you are a first-time buyer, you only pay stamp duty on property valued at over £300k.

Conveyancing solicitors in Wanstead will ensure the right amount is calculated.

Buying a flat? Leasehold conveyancing in Wanstead

New build site

It is not recommended to purchase a leasehold home without knowing what you are getting into. Ground rent multipliers, undisclosed major works and absent freeholders are only some of the many common complications lying in wait for the unsuspecting buyer.

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

If you are planning to purchase a property with a lease, a experienced conveyancing solicitor in Wanstead will investigate aspects of the leasehold purchase, such as :

  • reviewing the lease itself (leases can be 10's or even 100's of years old)
  • annual statements of account and budgets for service charges
  • dealing with freeholders
  • onerous covenants

Quittance Conveyancing's leasehold conveyancing solicitors will work to ensure that you are aware of all the potential issues and costs associated with the lease.

Buying a 'New Build' property in Wanstead?

New build site

Based on data collated by HMLR, 450 new builds have been bought in Wanstead in 2018 so far. The average price for a new build in Wanstead is £449,784.

A new-build conveyancing solicitor in Wanstead must be aware of local Wanstead factors and new build's additional complexities, e.g. dealing with failures to arrange warranty provider inspections, investigating road and drainage issues and working with warranty providers such as NHBC, Premier Guarantee? and Checkmate.

Our highly qualified team of new build conveyancers specialise in ensuring that new build contracts favour the client as much as possible and working to tight developer deadlines.

Conservation areas in London

If you are buying a home in one of Wanstead's conservation areas, the property must not breach any conservation area restrictions. Called Article 4 directions, these building controls could include anything from limits on the use of cladding, to restrictions on the removal of front boundary walls.

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

Your Quittance conveyancing solicitor will confirm if the property you are purchasing is located in a conservation area in Wanstead.

Conveyancing - Selling a property in Wanstead

Conveyancing for a sale of a house or flat is much simpler than for a purchase. The purchaser will have to go through thorough due diligence on the property. In contrast, conveyancing solicitors in Wanstead acting for the vendor just collects all documents and information relating to the property and replies to the solicitor's standard and additional enquiries .

What could put a property sale at risk?

Common hurdles, such as having a defective lease or a solar panel 'rent a roof' scheme, can potentially hinder your home move if not dealt with promptly.

Don't put off finding a solution as solicitors are trained to unearth any such issues - get advice and tackle it ASAP.

Recommended reading:

Read more sale conveyancing articles here.

Selling a leasehold property

The conveyancing process for a leasehold flat (leasehold houses are not common) is significantly more difficult than for a freehold property.

The complex nature of leasehold property means that conveyancing solicitors in Wanstead will need to conduct extra work, and this could include obtaining the latest service charge and ground rent statement, through to details of any breach of the terms of the lease.

It is strongly advised that the vendor contact a property lawyer as soon as the decision is made to sell to reduce leasehold-related delays.

Can your conveyancing solicitors act for both the buyer and the seller of the same house?

Conveyancers regulated by the Council for Licenced Conveyancers can act for both parties. However, Solicitors Regulation Authority (SRA) rules ban the same conveyancing solicitor from acting on both sides in a property sale and purchase.

If you are buying or selling a home in Wanstead, and a Quittance solicitor is acting for the other side, you could instruct a property solicitor firm in Wanstead to undertake your conveyancing.

Local Wanstead conveyancing solicitor directory

  • Littlestone Cowan Solicitors, First Floor, 45 High Street, Wanstead, London, London, E11 2AA
  • Murdochs Law Ltd, 45 High Street, Wanstead, London, E11 2AA
  • Edwards Duthie, 149 High Street Wanstead, London, E11 2RL
  • Wiseman Lee LLP, 9-13 Cambridge Park, Wanstead, London, E11 2PU
  • M M Frame Limited, 68 Wanstead Lane, Ilford, Essex, IG1 3SE

Conveyancing - Remortgaging a property in Wanstead

The main reason homeowners remortgage a home is to get a lower interest rate. There are also any number of other reasons to consider remortgaging, including getting on to a new fixed-rate deal, or wanting to borrow more.

An efficient conveyancing solicitor in Wanstead can reduce the remortgage processing time, helping you get onto the lower rate earlier. With the Bank of England base rate now at 0.5% (May 2018), fast conveyancing can be a key consideration when getting the mortgage rate you want.

The property lawyer carrying out your remortgage must also be able to act on behalf of the new lender. Our conveyancers are panel members of all major banks and building societies. So whether you are moving to a cashback mortgage with the Halifax or to a variable-rate mortgage with the Darlington Building Society, we 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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