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What is covered by our quote?

The quote that you have been provided is on a fixed fee basis. This means that you will not be charged more than the quoted sum for each particular aspect of the transaction.

Our quote will also not be inflated by pre-determined extras such as postage costs or photocopying charges. Below is a list of all of the aspects of the transaction which are covered by the quote.

SALE

  • Sending to you all of the pre-contract forms to complete.
  • Obtaining from you and checking your identification documents.
  • Advising you on the completion and return of the above.
  • Initial correspondence with the Buyers’ Solicitors (“BS”) and the Estate Agents to confirm our instruction on your behalf.
  • Obtaining official copies from the Land Registry of title documentation*
  • Drafting of the Contract and submission to the BS.
  • Receiving back from the BS the approved Contract and any additional enquiries that they might raise.
  • Answering the additional enquiries of the BS insofar as they relate to the legal title to your property**.
  • Sending to you any non-legal questions for you to address.
  • Where necessary, applying for up to one Management Information Pack from the Landlord or Management Company and sending this to the BS. Where we have to deal with more than one such body then we reserve the right to raise an additional charge.
  • Sending you the Contract to sign.
  • Effecting an exchange of contracts upon your instruction to do so.
  • Sending you the Transfer to sign.
  • Receiving from the BS any deposit monies and the balance of the purchase price on completion.
  • Contacting your Estate Agents (if applicable) to authorise release of the keys to your Buyer on completion.
  • Obtaining a repayment figure from your mortgage company and transmitting the correct sum to them following completion. After doing so, ensuring that their legal charge is removed at the Land Registry. This aspect will only be carried out if you have advised us at the time of your quote that you have such a mortgage to repay. If we discover after the quote that this is the case, or that you have more than one mortgage or other financial obligation to repay money on completion then this will amount to additional work outside of the quote and we will contact you once this becomes apparent to quote you accordingly for the cost of dealing with this.
  • Onwards transmission to you of the sale proceeds whether this be to come back to you or to transfer these to any related purchase that you might be undertaking. Please note that if you require these funds to be sent to you electronically then we will charge you for the cost of a telegraphic transfer at the rate specified on your quote. If one is not specified then this will be at our current rate as at the date of transmission as published on our website.

*Our quote covers our costs of getting documentation from the Land Registry, but the documents themselves are charged separately as disbursements. Our quote allows for us spending up to £6 on these, but we frequently have to apply for more documents than anticipated and where this is the case, you will be notified of the amount of these disbursements prior to our application for them.

**Any additional enquiries which require submission to the Land Registry to change the Register of title due to an error made on the same prior to our instruction or which require us to raise questions with a third party are considered to be additional work and you are referred to the section concerning this at the foot of this page.

PURCHASE

  • Sending to you all of the pre-contract forms to complete.
  • Obtaining from you and checking your identification documents**.
  • Advising you on the completion and return of the above.
  • Initial correspondence with the Sellers’ Solicitors (“SS”) and the Estate Agents to confirm our instruction on your behalf.
  • Receipt of the draft Contract from the SS.
  • Applying for the search pack shown in our quote where applicable.
  • Receiving the search results and reading the same.
  • Receiving, if applicable, your mortgage offer, reading the same and dealing with any conditions thereto.
  • Approving the terms of the Contract and raising with the SS any additional enquiries which we believe to be necessary in the interests of yourself and of any mortgage company involved insofar as they relate to the legal title to your property*.
  • Receiving back from the SS their replies to enquiries and liaising with them in communicating and resolving any such enquiries.
  • Sending you the Contract to sign along with our Report explaining the terms of the contract, any matters of title of which you should be aware, the result of your searches and the terms of your mortgage.
  • Effecting an exchange of contracts upon your instruction to do so.
  • Applying for any ISA Bonus to which you might be entitled provided this is on your original quote. If this was not quoted for, then please see the section below concerning additional work.
  • Applying for the advance from your mortgage company if applicable.
  • Transmitting to the SS any deposit monies and the balance of the purchase price on completion.
  • Submission to HM Revenue and Customs of a Stamp Duty Land Tax Return (SDLT1), where applicable, and transmission to them of any SDLT due. It will be your responsibility to complete the SDLT1 although we will complete it for you on your instruction as additional work at our current fee at the time of completion.
  • Application to the Land Registry for registration of the property in your name(s) and of the mortgage where applicable.
  • Where required in the legal title of the property being bought, to serve notice on up to one Landlord or Management Company. If any further notices are required then these will be considered as additional work.

*We are often asked to raise enquiries which do not relate to the legal title of the property whether these be relating to matters revealed in your survey or in relation to information which you want concerning items to be left at the property or similar. Where we are asked to do this, it is considered to be additional work and you are referred to the section concerning this at the foot of this page.

**Our quote only covers identity checks against our named clients, i.e. the person(s) that we have been notified are buying the property. In the event that we have to identify any third parties such as anybody who is giving you money, lending you money, standing Guarantor for you or who is otherwise empowered by you to be involved in the transaction, then this will be considered additional work and you are referred to the section concerning this at the foot of the page.

REMORTGAGE/TRANSFER OF EQUITY

  • Sending to you all of the relevant forms to complete.
  • Obtaining from you and checking your identification documents*.
  • Obtaining official copies from the Land Registry of title documentation**
  • Receiving your mortgage offer, reading the same and dealing with any conditions thereto.
  • Sending you the Mortgage Deed to sign along with our Report explaining the same.
  • Where necessary, applying for up to one Management Information Pack from the Landlord or Management Company. Where we have to deal with more than one such body then we reserve the right to raise an additional charge.
  • Obtaining a repayment figure from your mortgage company and transmitting the correct sum to them following completion. After doing so, ensuring that their legal charge is removed at the Land Registry. This aspect will only be carried out if you have advised us at the time of your quote that you have such a mortgage to repay. If we discover after the quote that this is the case, or that you have more than one mortgage or other financial obligation to repay money on completion then this will amount to additional work outside of the quote and we will contact you once this becomes apparent to quote you accordingly for the cost of dealing with this.
  • Onwards transmission to you of any proceeds whether this be to come back to you or to transfer these to any related purchase that you might be undertaking. Please note that if you require these funds to be sent to you electronically then we will charge you for the cost of a telegraphic transfer at the rate specified on your quote. If one is not specified then this will be at our current rate as at the date of transmission as published on our website.
  • Applying for the advance from your mortgage company.
  • Submission to HM Revenue and Customs of a Stamp Duty Land Tax Return (SDLT1), where applicable, and transmission to them of any SDLT due. It will be your responsibility to complete the SDLT1 although we will complete it for you on your instruction as additional work at our current fee at the time of completion.
  • Application to the Land Registry for registration of the mortgage.
  • Where required in the legal title of the property being bought, to serve notice on up to one Landlord or Management Company. If any further notices are required then these will be considered as additional work.

*Our quote only covers identity checks against our named clients, i.e. the person(s) that we have been notified are buying the property. In the event that we have to identify any third parties such as anybody who is giving you money, lending you money, standing Guarantor for you or who is otherwise empowered by you to be involved in the transaction, then this will be considered additional work and you are referred to the section concerning this at the foot of the page.

**Our quote covers our costs of getting documentation from the Land Registry, but the documents themselves are charged separately as disbursements. Our quote allows for us spending up to £6 on these, but we frequently have to apply for more documents than anticipated and where this is the case, you will be notified of the amount of these disbursements prior to our application for them.

ADDITIONAL WORK

As indicated above, there are occasions on which we will be asked to do additional work which falls outside of the above specifications. Wherever this is the case, we will notify you in advance of raising any charges and always ensure that you consent to this prior to proceeding with any such matters.

For a full list of items which we consider to be additional work and for the amount that we charge in each case please visit:-

https://www.nbmlaw.co.uk/additional-work.htm