Landlord Services
New Build Property
Award Winning Law Firm | Fixed Fees are available.
NewBold Solicitors have a specialist New Build department that focuses on the aspects of residential site purchases or Part Exchanges.
Obtain a quotation for your re-mortgage using our Conveyancing Quote Calculator or see our costs here.
Conveyancing Quote Calculator
New Build Property
NewBold Solicitors have a specialist New Build department that focuses on the aspects of residential site purchases or Part Exchanges. We work with clients whether they are purchasing from a small development of 5 houses to purchasing from a Plot from large development estate of hundreds of plots.
We offer the best client service at a fixed fee and pride ourselves on being one of the first firms in Wales to complete on Help to Buy matters. We also work closely with Help to Buy departments in England and Wales and have many Conveyancers that have been Accredited by Help to Wales following the introduction of their new system.
We provide excellent advice and reports to clients on matters such as the implications of covenants, rights, NHBC Warranty and other equivalent providers and what they mean.
We offer the best client service at a fixed fee and pride ourselves on being one of the first firms in Wales to complete on Help to Buy matters. We also work closely with Help to Buy departments in England and Wales and have many Conveyancers that have been Accredited by Help to Wales following the introduction of their new system.
We provide excellent advice and reports to clients on matters such as the implications of covenants, rights, NHBC Warranty and other equivalent providers and what they mean.
Costs Information
A fixed fee quotation can be obtained using our Conveyancing Quote Calculator (green button at the top of the page) or by clicking here.
All New Build purchase quotations will consist of legal costs (the costs for the services provided which are subject to VAT (currently 20%)) and disbursements. Disbursements are necessary third party costs such as search costs, Stamp Duty Land Tax/Land Transaction Tax and Land Registry registration Fees etc.
As a standard and generally speaking, our fixed fee for acting in the New Build purchase of a property consists of the following:
- Investigating the title to the property, to include:
- Carrying out searches with respect to title and local government information for the property
- Reviewing replies given by the seller to pre-contract enquiries
- Reviewing the purchase contract
- Reviewing the transfer document
- Advising you in respect of your mortgage offer and Help to Buy (if applicable)
- Preparing a report on title
- Proceeding to exchange of contracts and then completion of the purchase
- Transferring funds by telegraphic transfer to the Seller’s Solicitors and for relevant taxes
- Calculating stamp duty land tax (SDLT) or land transaction tax (LTT) on the purchase and preparing and submitting to HM Revenue & Customs/ the Welsh Revenue Authority the appropriate SDLT/LTT form. Please note that we are not tax experts and are not regulated to provide tax advice. Calculations are based on general guidance only. We recommend that you obtain independent tax advice prior to exchange of contracts
- Obtaining your NHBC or other New Home Warranty documentation
- Registering the purchase and the mortgage or second charge (if any) at the Land Registry
Unless otherwise advised, any quotation is given on the basis that:
- The property is currently held under a single freehold title at the Land Registry with no title defects
- One contract is submitted to one purchaser
- The purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession
- Completion takes place on the date agreed in the contract or within the notice period served by the Developer
Timescale Information
On average a New Build purchase transaction takes between 4-8 weeks to proceed to an exchange of contracts from receipt of the draft Contract Pack although this is very much an average and some transactions will proceed sooner and some will take exceed this timescale. Completion is likely to be dependent on when the property is considered ‘build complete’ and a Notice to Complete is issued by the Developer. More complex transactions such those involving leasehold properties, management companies etc may likely take longer to progress than standard transactions.
As a very rough guide and noting that all transactions can proceed slightly differently and at different timescales due to the complexities involved in a conveyancing transaction, we would consider the key stages to be the very basic stages:
- Issue of the draft Contract Pack to the Buyer’s Solicitors
- Buyer’s Solicitors carry out their investigation of title, which generally includes obtaining searches and raising additional enquiries. This stage is usually completed whilst other formalities such as mortgage arrangements are undertaken
- Buyer’s investigation of title is completed and pre-completion arrangements are made (exchange of contracts if the property is not build complete or if the property is build complete, exchange of contracts and completion)
- Completion takes place and post-completion formalities are attended to
If you have any questions regarding our conveyancing New Build purchasing service, please contact us on conveyancing@newboldsolicitors.com or call 0330 123 1131.
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Conveyancing FAQ
- Do I need to use a Solicitor/Conveyancer to purchase a property?
- The use of a Solicitor/Conveyancer is very much recommended and specifically required where you are purchasing with the assistance of a mortgage.
- Will my Solicitor/Conveyancer provide advise on Stamp Duty Land Tax (SDLT) or Land Transaction Tax (LTT)?
- No. Whilst a general calculation may be produced based on information provided via the relevant SDLT/LTT calculators, this is not advice and should advice be required, this should be sought from a person suitably qualified to provide such advice as the tax rules can be intricate.
- Do I need to have conveyancing searches?
- The use of conveyancing searches is very much recommended and in most cases specifically required where you are purchasing with the assistance of a mortgage. We utilise personal searches where possible which can be returned sooner than official searches.
- Will my Solicitor/Conveyancer deal with any issues which arise in my survey?
- No. The results of your survey are for you, however, our Solicitors/Conveyancers will review the section entitled ‘Issues for your legal advisor ’if the report is forwarded. Solicitors/Conveyancers are not suitability qualified to interpret the remainder of the report and you should discuss this with your surveyor. Should anything be unsatisfactory for which you may wish to seek a price reduction, any negotiations should be dealt with via any Estate Agents and your Solicitor/Conveyancer kept updated as to the conclusion.
- How many people can purchase land/property?
- The Land Registry only accommodates up to four people to be registered as legal owners of a land/property. Should more than four persons wish to have an interest in land other arrangements would need to be made to purchase such as via a company, trust or other investment vehicle.
- How can I get a quotation for the sale or purchase of a property?
- We have a Conveyancing Quote Calculator which is embedded within our website. Once you enter the details of your intended sale/purchase a quotation can be provided. However if you prefer to speak with our friendly staff, please call our offices where we will be pleased to arrange a quotation for you.
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