LINCOLN OFFICE
01522 539111
142 High Street, Lincoln, LN5 7PJ
lincoln@andrewjay.co.uk

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Buying Freehold Residential Property
Buying Leasehold Residential Property
Selling Freehold Residential Property
Selling Leasehold Residential Property
Remortgaging

 

Whether you are buying or selling residential property or looking to remortgage, we can assist you through the process. 

Please visit the Our prices page for details of our fees. 

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as searches and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. These fees are subject to change if you require additional searches.

Referral fees

Andrew Jay & Co will not pay or receive any referral fees in connection with your matter.

 

Buying Freehold Residential Property

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Stamp Duty or Land Tax

In addition to the costs and disbursements listed above you will also have to pay Stamp Duty Land Tax on your purchase. This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's SDLT calculator at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority's website.

Exclusions

Our fees are fixed, however there may be factors which would increase the costs of those fees. Where this is likely we will make sure you provided with a clear estimate of those costs at the earliest opportunity.

Factors that may increase the costs payable by you include:

  • If a legal title is defective or part of the property is unregistered.
  • If you discover building regulations or planning permission has not been obtained.
  • If crucial documents, we have previously requested from you have not been provided to us.
  • If indemnity policies are required additional disbursements may apply.
  • If the property is a new build.
  • If the property is less than 10 years old.
  • If you require to exchange within 6 weeks of instructing us.
  • If you require completion within 6 weeks of instructing us.
  • If you require simultaneous exchange and completion.

Timescales

It is very difficult to specify a precise timescale because this is not an exact science. The average process takes 8 – 10 weeks but this depends on a number of factors which are beyond our control.

It can be quicker or slower depending on the other parties in the chain. For example:

  • A transaction where buyers in the chain require mortgages is likely to take longer than a transaction with no mortgages required.
  • A transaction where one of the parties in the chain is buying a new build property may result in a longer completion date unless they would be prepared to break the chain to enable transactions to be completed in advance of their new home being ready for them to occupy.
  • If there are any leasehold properties in the chain it may take longer to obtain the management pack from the landlord of if a lease extension is required this can take considerably longer to complete because more transactions are involved.

We do consider ourselves to be proactive rather than reactive and we will endeavour to keep you advised at all times.

Stages of the process

The precise stages involved in the purchase of a residential property will vary according to the circumstances. However, our usual steps in a purchase will be to:

  • Take your instructions and give you initial advice.
  • Check finances are in place to fund your purchase and contact your lender's solicitors if needed.
  • Receive and advise on contract documents.
  • Carry out searches.
  • Obtain further planning documentation if required.
  • Make any necessary enquiries of the seller's solicitor.
  • Give you advice on all documents and information received.
  • Go through the conditions of the mortgage offer with you.
  • Send the final contract to you for signature.
  • Agree a completion date (date from which you own the property).
  • Exchange contracts and notify you that this has happened.
  • Arrange for all monies needed to be received from lender and you.
  • Complete the purchase.
  • Deal with payment of Stamp Duty Land Tax.
  • Deal with the application for registration at Land Registry.

 

Buying Leasehold Residential Property

Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

Exclusions

Our fees are fixed, however there may be factors which would increase the costs of those fees. Where this is likely we will make sure you provided with a clear estimate of those costs at the earliest opportunity. Factors that may increase the costs payable by you include:

  • If a legal title is defective or part of the property is unregistered.
  • If we discover building regulations or planning permission has not been obtained.
  • If crucial documents previously requested from you have not been provided to us.
  • If indemnity policies are required additional disbursements may apply.
  • If it is necessary to prepare additional documentation eg. declaration of trust.
  • If the property is a new build.
  • If the property is less than 10 years old.
  • If this is the grant of a new lease rather than an assignment.
  • If you require simultaneous exchange and completion.

Timescales

It is very difficult to specify a precise timescale because this is not an exact science. The average process takes 8 – 10 weeks but this depends on a number of factors which are beyond our control.

It can be quicker or slower depending on the other parties in the chain. For example:

  • A transaction where buyers in the chain require mortgages is likely to take longer than a transaction with no mortgages required.
  • A transaction where one of the parties in the chain is buying a new build property may result in a longer completion date unless they would be prepared to break the chain to enable transactions to be completed in advance of their new home being ready for them to occupy.
  • If there are any leasehold properties in the chain it may take longer to obtain the management pack from the landlord of if a lease extension is required this can take considerably longer to complete because more transactions are involved.

We do consider ourselves to be proactive rather than reactive and we will endeavour to keep you advised at all times.

Key Stages

Below we have set out some key stages involved in the purchase of a residential leasehold property. Please note these may vary according to the circumstances. However, our usual steps in a purchase will be to:

  • Take your instructions and give you initial advice.
  • Check finances are in place to fund the purchase and contact your lender's solicitors if needed.
  • Receive and advise on contract documents.
  • Carry out searches.
  • Obtain further planning documentation if required.
  • Make any necessary enquiries of seller's solicitor.
  • Give you advice on all documents and information received.
  • Go through conditions of mortgage offer with you.
  • Send final contract to you for signature.
  • Draft Transfer.
  • Advise you on joint ownership (if appropriate).
  • Agree completion date (date from which you own the property).
  • Exchange contracts and notify you that this has happened.
  • Arrange for all monies needed to be received from lender and you.
  • Obtain pre-completion searches.
  • Complete purchase.
  • Deal with payment of Stamp Duty/Land Tax.
  • Deal with application for registration at Land Registry.

 

Selling Freehold Residential Property

We can help you through the process of selling your property. 

Exclusions

Our fees are fixed, however there may be factors which would increase the costs of those fees. Where this is likely we will make sure you provided with a clear estimate of those costs at the earliest opportunity.

Factors that may increase the costs payable by you include:

If a legal title is defective or part of the property is unregistered.
If we discover any necessary building regulations or planning permission have not been obtained.
If crucial documents, we have previously requested from you have not been provided to us.
If you require to exchange within 6 weeks of instructing us.
If you require completion within 6 weeks of instructing us.
If you require simultaneous exchange and completion.

Timescales

It is very difficult to specify a precise timescale because this is not an exact science. The average process takes 8 – 10 weeks but this depends on a number of factors which are beyond our control.

It can be quicker or slower depending on the other parties in the chain. For example:

  • A transaction where buyers in the chain require mortgages is likely to take longer than a transaction with no mortgages required.
  • A transaction where one of the parties in the chain is buying a new build property may result in a longer completion date unless they would be prepared to break the chain to enable transactions to be completed in advance of their new home being ready for them to occupy.
  • If there are any leasehold properties in the chain it may take longer to obtain the management pack from the landlord of if a lease extension is required this can take considerably longer to complete because more transactions are involved.

We do consider ourselves to be proactive rather than reactive and we will endeavour to keep you advised at all times.

Stages of the process

The precise stages involved in the purchase of a residential property will vary according to the circumstances. However, our usual steps in a purchase will be to:

  • Taking your instructions and giving initial advised based on the information you have provided.
  • Check finances are in place to fund your purchase and contact your lender's solicitors if needed.
  • Drafting contracts of sale and any other necessary documents and reviewing these with you.
  • Checking finances are in place for the buyer to fund the purchase.
  • Drafting contracts of sale and any other necessary documents and reviewing these with you.
  • Sending the contacts of sale to the buyer’s solicitor and dealing with any enquires they have.
  • Providing advice on all documents and information received.
  • Finalising the contract and sending to you for signature.
  • Agreeing a completion date (the date from which the buyer will legally own the property).
  • Exchanging contracts and notify you that this has happened.
  • Completing the sale.

 

Selling Leasehold Residential Property

Our fees cover all the work normally required to complete the sale of your leasehold residential property.

Exclusions

Our fees are fixed, however matters may arise which could increase the costs of those fees. Where this is likely we will make sure you provided with a clear estimate of those costs at the earliest opportunity. Possible factors include:

  • If a legal title is defective or part of the property is unregistered.
  • If we discover building regulations or planning permission has not been obtained.
  • If crucial documents previously requested from you have not been provided to us.
  • If indemnity policies are required additional disbursements may apply.
  • If it is necessary to prepare additional documentation.
  • If the property is a new build.
  • If the property is less than 10 years old.
  • If this is the grant of a new lease rather than an assignment.
  • If you require simultaneous exchange and completion.

Timescales

It is very difficult to specify a precise timescale because this is not an exact science. The average process takes 8 – 10 weeks but this depends on a number of factors which are beyond our control.

It can be quicker or slower depending on the other parties in the chain. For example:

  • A transaction where buyers in the chain require mortgages is likely to take longer than a transaction with no mortgages required.
  • A transaction where one of the parties in the chain is buying a new build property may result in a longer completion date unless they would be prepared to break the chain to enable transactions to be completed in advance of their new home being ready for them to occupy.
  • If there are any leasehold properties in the chain it may take longer to obtain the management pack from the landlord of if a lease extension is required this can take considerably longer to complete because more transactions are involved.

We do consider ourselves to be proactive rather than reactive and we will endeavour to keep you advised at all times.

Key Stages

Below we have set out some key stages involved in the sale of a residential leasehold property. Please note these may vary according to the circumstances.

  • Take your instructions and give you initial advice.
  • Obtain management pack from the leaseholder.
  • Draft and send contract documents.
  • Give you advice on all documents and information received.
  • Send final contract to you for signature.
  • Agree completion date (date on which you must vacate the property).
  • Exchange contracts and notify you that this has happened.
  • Arrange for sale monies to be sent to us.
  • Obtain pre-completion searches.
  • Complete sale.

 

Remortgaging

We offer a fixed fee service for remortgage. Our fees cover all of the work normally required to complete the remortgage of your property.

Exclusions

Our fees are fixed, however there may be factors which would increase the costs of those fees. Where this is likely we will make sure you provided with a clear estimate of those costs at the earliest opportunity. Factors that may increase the costs payable by you include:

  • If your legal title is defective.
  • If crucial documents we have requested from you have not been provided to us.
  • We do not provide mortgage or tax advice.
  • Valuations on your home will be conducted by your new lender.

Timescales

A typical remortgage takes between 6 and 8 weeks, however it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders rather than remortgaging with your current mortgage company.

Stages of the process

The precise stages involved in the purchase of a residential property will vary according to the circumstances. However, our usual steps in a remortgage will be to:

  • Taking your instructions and giving initial advice based on the information you have provided.
  • Requesting the Title Deeds and Redemption Statement.
  • Obtaining Official Copies of the Title.
  • Checking the Title.
  • Leasehold properties will require the lease to be checked and enquiries made if relevant.
  • Searches.
  • Checking the mortgage offer.
  • Preparing for completion.
  • Requesting final redemption statement.
  • Requesting the mortgage advance.
  • Completion.
  • Registration.