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SOLICITORS NOTTINGHAM

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Here at Julia T Betts solicitors, we can help you with all transactions concerning land and property.

The most common phrase for dealing with transactions in respect of residential properties is ‘conveyancing’, but there are many potential transactions involving land and houses for example, sales and purchases of domestic or commercial properties, short leases of either domestic or commercial properties, long leases of commercial properties, equity releases, gifts of property, sales or purchases of land, either in whole or part.

Our conveyancing department is headed up by Julia Betts, a solicitor with some 40 years’ experience dealing with all aspects of this type of work.  Julia is assisted by Lucy Wilcockson, a solicitor who qualified with the Firm in 2018 and a dedicated team of support staff.  For more information about Julia, please click here.

Our clients are mainly those who have used our services time and again over the years and recommended us to friends and colleagues.  We are known for our thoroughness, attention to detail and value for money service.

We take the time necessary to deal with each case on an individual basis.  No two matters are the same and for that reason, when an enquiry is made for our services, Julia always speaks with the client in the first instance to ascertain what outcome is required, time frames, potential problems and not least cost.

It is important to us that we understand your needs so that we can try, so far as is possible, to ensure they are met.  If this is not possible, we will discuss why, but see what we can do to proceed as closely as is possible to your requirements.

During the initial conversation, Julia will give you an indication of costs.  Following the conversation, you will be sent written details in what we call our “Essential Information” document.

One important aspect of this document is detail about the cost of our service and any other payments that are likely to be incurred as a result of the matter contemplated.

Below, we set out details representing the best information we can give at the outset of a matter when we “assess” what we feel costs will be based on the information provided to us by you.

We keep a note on a regular basis of the average costs per transaction.  We often provide a wide-ranging estimate; the lower end of the estimate being the average costs and the higher end covering what we think final costs will be if we believe the matter is not straightforward or will require a high degree of technical knowledge and more time than is usual.

Average time and cost taken to deal with matters

Transaction Type (Residential Conveyancing) Average timeframe*** Our average fees**
Freehold Purchase with a mortgage 12 to 18 weeks £2,800.00
Freehold Purchase without a mortgage 12 to 18 weeks £2,500.00
Freehold Sale (registered land) with a mortgage 12 to 18 weeks £1,600.00
Freehold Sale (registered land) without a mortgage 12 to 15 weeks £1,500.00
Freehold Sale (unregistered land) with a mortgage * 12 to 15 weeks £1,800.00
Freehold Sale (unregistered land) without a mortgage * 12 to 15 weeks £1,700.00
Leasehold Purchase with a mortgage 12 to 18 weeks £3,000.00
Leasehold Purchase without a mortgage 12 to 18 weeks £2,750.00
Leasehold Sale with a mortgage 12 to 18 weeks £2,200.00
Leasehold Sale without a mortgage 12 to 18 weeks £1,900.00
Sale of property by auction Completion generally takes place 28 days after the auction £1,500.00
Purchase of property by auction Completion generally takes place 28 days after the auction £1,700.00
Purchase or sale of part of title

Standard Purchase of a New Build Property to exchange of contracts.

12 to 18 weeks

8 to 12 weeks - Completion depends on the developer.

from £2,000.00

to £4,000.00

£3,000.00

Equity release 8 to 12 weeks £1,300.00
Transfer of Equity 6 to 10 weeks £760.00 to £860.00

*Sometimes, when the title to a property is not registered at Land Registry, a buyer’s conveyancers will request that the title be registered at Land registry before the sale proceeds.  Our costs for dealing with a first registration of title (assuming there are no problems) is £250.00 plus VAT.  A Land Registry fee is payable depending on the value of the property (Please click here for further information).  The time it takes for Land Registry to register the title of the property does vary and can take up to a year, however, we can ask for Land Registry to expedite the matter. 

**All amounts listed above are exclusive of VAT.   The current rate is 20%. 

These prices are based on:-

  • a sale or purchase of whole except where stated.  
  • the value of the property being £1,000,000.00 or under. For transactions over and above that amount, we would need to understand the nature of the transaction to be able to give a more accurate price based on the current hourly rate. 

Should your transaction be a sale subject to a tenancy agreement, the costs will increase by approximately £400.00 plus VAT.

If you are selling and buying, we can become involved in checking information up and down the chain.  This can increase costs depending on what work is done.  It is not unusual for time spent to be between one and two hours; £200.00 to £400.00 plus VAT.

*** These are the average times.  Should you be involved in a transaction that involves a “chain” of over 3 parties, then these times could extend considerably.  

What other costs could be involved and how could this extend the time to deal with my matter?  Please click here for further information.

What service is provided by this Firm?  Please click here for further information.

If a transaction begins, but does not proceed to completion, we reserve the right to raise an account based on the amount of time expended/work done and such charges are calculated on a hourly basis.

We set out below, an approximate estimate of the costs involved in reaching various stages of the transaction if it does not reach conclusion for any reason.  We do stress that it is only an approximate guide and the actual fees chargeable will be commensurate with the work undertaken in the matter.

Stages Typical Fees Charged
Pre-contract Work One third fees + VAT
Contract Issued One third fee + VAT
Post Contract Enquiries/Issues Two third fees + VAT
Contract Signed Two third fees + VAT
Post - Contract Full amount + VAT

 

All work carried out on a matter is overseen by Julia.  If another member of Julia's team carries out work on the file this is charged at a lesser rate.

Hourly rate Short letter and telephone call per item rate
Principal Solicitor Residential - £200.00 plus V.A.T. Residential - £20.00 plus V.A.T.
 

Solicitor

 

£195.00 plus V.A.T.

 

£19.50 plus V.A.T.

A Bellwether research paper entitled: 'the changing face of the law' highlighted the very real concerns of small independent law firms around the increase in a “price-driven” culture of buying legal services; particularly conveyancing.  It is very tempting to buy purely on price, but a quality service and knowledge of the law is an intangible and unquantifiable thing.  Even in today's world of registered conveyancing, there is nothing to beat many years of expertise and knowledge that those years bring.

It is natural for anyone moving house to want the process to happen quickly, but it is a well-known fact that conveyancing is a high-risk activity and many mistakes happen simply because the process has been rushed; particularly a purchase.  Here at Julia T Betts solicitors, we try to do all work as quickly and efficiently as possible,  but the work we do, requires a great deal of care, consideration and checking.

Cutting prices can only go on for so long before it becomes impossible to continue giving a good service.  Diminishing pricing means that the person doing the work either has to work longer and longer and do more and more jobs to standstill, or with increases in overheads, diminished returns.  As there are only so many hours in a day, a point will be reached when it is simply not possible to maintain service standards that are so important for both clients and ourselves.

Another result of price cutting is that integrity and quality of work can be compromised.  This firm is not prepared to compromise client care nor quality work.  For this reason, here at Julia T Betts, we do not seek to compete on price with potential competitors.

Julia T. Betts Solicitors can provide a solution to your problem. If you would like to discuss your requirements in person or over the telephone, why not contact us.

Contact us:

Telephone:
01623 499 080

Email:
reception@ravensheadlaw.com

Address:
5 Milton Court, Ravenshead, Nottingham, NG15 9BD

SRA Number:
Authorised and regulated by the Solicitors Regulation Authority - 47071 (www.sra.org.uk)

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