Moving house or buying property can be an incredibly stressful event, ranking among the most anxiety-inducing experiences in life, alongside divorce and bereavement. The process of organizing everything before your move and dealing with the legal complexities can be quite daunting.

At Iris Law Firm, we specialize in residential property matters, providing expert guidance to make the process smoother for you. We offer highly competitive fixed fees and have been accredited with the Conveyancing Quality Scheme Award by the Law Society of England and Wales, recognizing our adherence to proper protocols, efficient case management, excellent customer care, and the ability to provide peace of mind to our clients.

CONVEYANCING TEAM - WHO ARE WE?

Unlike some firms where different individuals handle different stages of a conveyancing transaction, we believe in continuity and work hard to ensure that your transaction is handled by the same person from start to finish. This approach allows us to provide high standards of customer care and quality advice, as the assigned professional becomes fully familiar with your case, avoiding the frustrating experience often encountered with high-volume conveyancing firms.

Our small boutique team is comprised of:

• 1 Solicitor who is Head of Department with 24 years experience, who has worked with Iris Law Firm since 2008;
• 1 Conveyancing Executive with over 25 years experience who has worked with Iris Law Firm since December 2021.

Both of our team are registered with the Law Society under the Conveyancing Quality Scheme and supported by experienced assistants.

We will confirm specific details of who will be dealing with your matter upon formal instruction. Regardless of who works on your matter, they will be supervised by one of our Partners.

We have established strong partnerships with estate agents throughout the region, as well as national conveyancing specialists Move with Us and local experts Convey With Me. These organizations are committed to delivering top-notch conveyancing legal services to property buyers, sellers, and investors.

Stages of the Residential Conveyancing Process – PURCHASE

Stage 1 – Purchase:

• Offer made to the seller, with our formal instruction to act on your behalf.
• Contact the seller’s solicitor to obtain the draft contract and related documentation.
• Conduct necessary pre-contract enquiries with the seller’s solicitors.
• Receive and review the draft contract, fixtures, fittings and contents form, property information form, and previous title deeds.
• Initiate searches, including local authority searches, and other relevant inquiries.
• If applicable, conduct additional checks for new builds.
• Negotiate and agree on the contract and preferred completion dates.
• Obtain a formal mortgage offer.

Stage 2 – Purchase:

• Payment of deposit and signing of contracts.
• Exchange of contracts, legally binding both parties to complete the transaction.
• Production and signing of a transfer document.
• Arrange signing of mortgage documentation and request mortgage funds (if applicable).
• Finalize searches and enquiries.
• Payment of land registry fees and stamp duty before completion.

Stage 3 – Completion and beyond:

• Transfer of balance purchase monies to the seller’s solicitor.
• Confirmation of receipt, granting legal ownership and release of keys.
• Resolution of final administrative matters, including payment of stamp duty, estate agent’s fees, and registration of new ownership with HM Land Registry.

Stages of the Residential Conveyancing Process – SALE

Stage 1 – Sale:

• Receipt of an offer for your property and formal instruction to act on your behalf.
• Preparation of draft contracts and related documentation, sending them to the buyer’s solicitors.
• Addressing enquiries and providing requested information or documentation.
• Obtaining a redemption figure from your current mortgage lender (if applicable).

Stage 2 – Sale:

• Signing of contracts by all parties.
• Exchange of contracts, legally binding both parties to complete the transaction.
• Receipt of transfer document from the buyer’s solicitor.
• Signing of the transfer document by both parties.
• Buyer’s organization of purchase monies and transfer to their solicitors.

Stage 3 – Completion and beyond:

• Transfer of purchase monies to our client bank account by the buyer’s solicitor.
• Release of keys to the buyer.
• Transfer of balance due to you.
• Redemption of any outstanding mortgage on the property.
• Resolution of final administrative matters.

Timescales: While the national average for a conveyancing transaction is 18 weeks, at Iris Law Firm, we strive for efficiency and aim to complete your transaction within 12 -14 weeks on average. Although we cannot entirely control the multi-party conveyancing process, our dedication to efficiency and client satisfaction allows us to achieve quicker completions in most cases.

Our Fees

Our fees in Conveyancing are based upon an hourly rate, which we discount to bring you the best value. We charge a basic fee to reflect the basic amount of work which an average file requires as a minimum, and depending on the specific nature of your transaction (i.e. whether or not you are obtaining a mortgage, whether the property is Leasehold or Freehold) further fees will apply. Our basic legal costs in all transactions are below, as well as details of add-on fees.

Other Transaction Fees (exclusive of VAT and disbursements)

ADD ONS (exclusive of VAT and disbursements)

The above fees do not include VAT or disbursements (3^rd party costs – see below). Fees may vary if the matter presents more complex issues such as:

• Strict/short deadline requested for the purchase of the property
• Funds coming from overseas
• Complexity of the transaction including the need to undertake any title rectification work
• Complexity of lender requirements.

DISBURSEMENTS

These are costs which are payable to 3^rd parties as part of your transaction, and they may vary depending on the value and nature of the transaction. Some common examples include:

• Search Fees – these typically include local searches, water, drainage and coal searches, but are not fixed. They on average cost in the region of £265.00.
• HM Land Registry Fees – if we act for you in a purchase then we will register your new ownership with HM Land Registry. They charge a fee which varies depending on the value of the property you purchased. HM Land Registry: Registration Services fees – GOV.UK
• Pre Completion Searches – we utilise these to, amongst other things, check the title of the property. This costs £3.00. Where you are obtaining a mortgage we also need to undertake a bankruptcy search as the lender will require this. These usually cost £2.00 per person.
• LMS Fee – if your lender is one which uses the LMS Portal then they charge £35.00 + VAT.
• If your property is Leasehold then there may be fees payable for the following, which depend entirely on who the Management company is:
  • Management Pack
  • Notice of Transfer
  • Notice of Charge (if you are mortgaging the property)
  • Deed of Covenant Fee

License to Assign

• Certificate of Compliance

At Iris Law Firm, we collaborate with leading estate agents and introducers throughout England and Wales, who assist us with marketing, case tracking, collecting initial payments, and ordering searches and sales progression. We may pay a referral fees to an agent, averaging between £100.00 and £150.00, as a token of our appreciation for their support. Rest assured that these fees are borne by us and do not represent an additional cost to you.

To avoid the impersonal experience of online conveyancers, we encourage you to secure a solicitor in readiness for your move, giving yourself an advantage in the process.