Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a freehold sale:

• Same day bank transfer fee (to send the sale proceeds to you): £3.60
• Electronic AML check (per seller): £8.40
• Land Registry documents: £14.00  – £50.00

Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a leasehold sale:

• Same day bank transfer fee (to send the sale proceeds to you): £3.60
• Electronic AML check (per seller): £8.40
• Land Registry documents: £35.00  – £50.00
• Leasehold management pack: At the discretion of your landlord

Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a freehold purchase:

• Electronic AML check (per purchaser): £8.40
• Usual property searches (optional if you are a cash buyer): £450.00 (approximately)
• Bankruptcy search (per purchaser): £6.00
• Land Registry priority search: £7.00
• Stamp duty land tax (or land transaction tax in Wales): To be confirmed on instruction
• Stamp duty land tax return submission fee: £6.00
• Lawyer account checker fee: £18.00
• Land Registry Registration Fee: To be confirmed on instruction

Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a leasehold purchase:

• Electronic AML check (per purchaser): £8.40
• Usual property searches (optional if you are a cash buyer): £450.00 (approximately)
• Bankruptcy search (per purchaser): £6.00
• Land Registry priority search: £7.00
• Stamp duty land tax (or land transaction tax in Wales): To be confirmed on instruction
• Stamp duty land tax return submission fee: £6.00
• Lawyer account checker fee: £18.00
• Land Registry Registration Fee: To be confirmed on instruction

Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a remortgage:

• Electronic AML check (per borrower): £8.40
• No search indemnity insurance (is accepted by your lender): £30.00 – £100.00
• Property searches (if insurance is not an option): £450.00 (approximately)
• Bankruptcy search (per borrower  ): £6.00
• Land Registry priority search: £7.00
• Stamp duty land tax (or land transaction tax in Wales) (if there is a transfer): To be confirmed on instruction
• Stamp duty land tax return submission fee (if relevant): £6.00
• Land Registry Registration Fee: To be confirmed on instruction
• Notice fee payable to the Landlord (if leasehold): To be confirmed on review of the lease

Disbursements are necessary costs that we pay out to third parties on your behalf. We anticipate the following minimum disbursements in connection with a equity release:

• Electronic AML check (per borrower): £8.40
• Land Registry documents: £14.00
• Same day bank transfer fee (to send the money to your account): £3.60

factors which may increase our fee

Once we have all the initial details from you, we will be able to provide you with a comprehensive breakdown of our fees and anticipated expenses based on your individual circumstances. It is rare that we have to increase our fees beyond this, but there are factors which may become apparent part-way through a transaction that will have to result in a price increase. These include, but are not limited to:

• The property containing unregistered land.
• The property being transferred forming only part of a larger piece of land.
• The property having a defective legal title (i.e. there is an issue we have to deal with).
• If we need to arrange indemnity insurance.
• The matter being particularly urgent and requiring expedited attention.
• The property being served by a private drainage system.
• The property being subject to a solar panel lease.
• The property being a new build plot.
• A tenant remaining in occupation after completion.
• The property being held under a shared ownership lease.
• If we need to deal with an agreement allowing the buyer access to the property between exchange and completion.
• The property being subject to a requirement to pay an annual charge towards any amenity areas, private roadways, drains or sewers.
• The property is leasehold and considered to be a “relevant building” or “higher risk building” for the purposes of the Building Safety Act 2022.
• For sales, the property being subject to a Help to Buy mortgage.
• For purchases, a third party gifting you money.
• For purchases, a Help to Buy ISA or lifetime ISA being used.
• For purchases, your lender having separate legal representation.
• For purchases, if you are using an equity release mortgage.
• For purchases, if you are buying under a lease for life scheme.

CONVEYANCING TIMEFRAMES

For freehold transactions, we would normally expect exchange of contracts to take place within 8 to 12 weeks. This is extended to 10-14 weeks for leasehold transactions. Every transaction is ultimately different and timescales can be impacted significantly by factors outside of our control. We understand how important timeframes are in the conveyancing process and will always look to achieve exchange and completion as soon as possible.

Why instruct us?

The conveyancing process can by its very nature be stressful and confusing. You should take care in engaging the right solicitor to make this process as clear and simple as possible. Eldridges Solicitors has been a trusted and reputable name on the Isle of Wight for over 190 years, since being founded in 1832. We have established a loyal client base who return to us time and time again due to the quality of our service. We do not pay any third parties for referral work, so you can rest assured that our duty to act in your best interests is truly uncompromised. Any fees you pay us have not been inflated due to any referral arrangements.

We have a highly experienced local team, who are passionate about providing a personable service that is led by common sense. We recognise how important it is that you feel able to ask us questions, and we agree that property lawyers should do what they can to ensure that the process is not unnecessarily delayed by trivial matters. We are sure that you will find our legal advisors to be approachable, easy to understand, and knowledgeable. We will keep you regularly updated and explain everything you need to know about your transaction in plain English.

We can tailor our service to your individual needs. We are happy to be guided by you when it comes to your preferences for matters including:

• Identity verification. You will have the option to meet your legal advisor or his/her secretary personally, or you can verify your identity online. If you are an Isle of Wight resident, we can also make arrangements to travel to you, if you are unable to attend one of our two offices.
• We typically provide updates within good time as and when they come in. If more frequent communications would make you feel more at ease, we can discuss this.
• We recognise that some clients want everything emailed, whereas others prefer physical papers. Similarly, some clients gain real value from face to face appointments, whereas others want everything in writing, either over email or by letter. We will work with you to ensure you gain the most from our service.

We will ultimately do what we reasonably can to make this process as simple and stress-free as it can be.

Since we do not exclusively deal with land and property matters, we will also be able to assist you:

• In making or updating your will once your property transaction has completed;
• In making a Lasting Power of Attorney to allow people you trust to deal with your property if you are ever unable to; and
• In resolving any property-related disputes.

Please therefore contact us if you are interested in instructing us, or if you have any questions.