Our Commercial and Residential Property team are well known and respected in the local area due to our expertise, knowledge and experience in buying and selling residential property. We understand that what our clients want is excellent advice, dedicated and easy to contact solicitors; to have a secure footing and a positive result. One of our great strengths is to move a sale or purchase through quickly and we have a proven ability to act on urgent deadlines getting the best outcomes for our clients.

The team is lead by Michelle Ody, Commercial Property Director, who has over 10 years experience in the commercial sector.

Teresa Scoular is a Senior Conveyancer with over 35 years experience, with an hourly rate of £175

Ben Mitchell is newly qualified Solicitor with in-depth knowledge and experience in commercial and residential property with an hourly rate of £175

Claire Wicks is a Chartered Legal Executive and Fellow of the Chartered Institute of Legal Executives who joined Parnalls Solicitors in 2008 with an hourly rate of £150

Brenda Johnson is a Land Registry Assistant with an hourly rate of £145

Gemma Blakely is an Assistant to the Commercial and Residential Property team with an hourly rate of £85

Helen Overbeck and Wendy Meneer are Assistants to the Commercial and Residential Property team with an hourly rate of £75

Purchase of Residential Property

Our fees cover 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.

Conveyancer’s fees and disbursements

For purchases, there is a legal fee which is dependent on the transaction value of the property being sold:-

Freehold

Transaction Value              Estimated Conveyancing    VAT
Cost
£150,000 – £200,000              £750 – £850                                  £150 – £170
£200,000 – £250,000             £850 – £950                                  £170 – £190
£250,000 – £300,000             £950 – £1,050                               £190 – £210
£300,000 – £350,000             £1,150 – £1,250                             £210 – £250
Over £350,000                         Costs on request


Leasehold

Transaction Value          Estimated Conveyancing      VAT
Cost
£150,000 – £200,000          £900 – £1,000                                £180 – £200
£200,000 to £250,000       £1,000 – £1,100                              £200 – £220
£250,000 to £300,000       £1,100 – £1,200                              £220 – £240
£300,000 to £350,000       £1,200 – £1,400                              £240 – £280
Over £350,000                     Costs on request

Mortgage

In addition to the above we also charge £350 plus VAT for acting for your mortgage company.

Disbursements

Search fees:

  • Local Search (Cornwall Council): £243
  • Environment Search: £86.76
  • Energy and Infrastructure Search: £30
  • Drainage and Water Search: £59.90
  • Mining Search (If necessary): £60
  • Chancel Check: £24
  • Pre-completion Searches: £7

HM Land Registry fee:

  • £80,001 – £100,000: £40
  • £100,001 – £200,000: £95
  • £200,001 – £500,000: £135
  • £500,001 – £1,000,000: £270
  • Over £1,000,000, cost can be requested
  • Telegraphic transfer fee for remitting purchase monies to Seller’s Solicitors: £31.68 (inc VAT)
  • On a leasehold purchases there may also be other disbursements such as management company notice fees and these are usually around £100-£125 plus VAT

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-10 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 6-8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation additional charges would also apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages. These include:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact 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
  • 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
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

For more information on these services, call 01566 772375, send an email to enquiries@www.parnalls.com or click here