The complete description of the buying process can be found in the link at the foot of this page, but once you have received your personalised illustration you will see the breakdown of costs (disbursements) which will be required to complete the purchase transaction in addition to the conveyancer’s fee. Some of these disbursements are listed below:
Bankruptcy Search – This search is used to establish any bankruptcies which have been lodged in the preceding few years against the name being searched on, and also whether there are any bankruptcies pending.
Bank Transfer Fee – This is a way of transferring money between a lender, solicitor and client instantly. In the case of your purchase, it will be used to transfer the money from the lender to the solicitor prior to completion day, and to the vendor’s solicitor on completion day.
Office Copies – This is an application to the Land Registry for a copy of the register for a given property to establish what parties have logged an interest in the property and any legal charges which have been registered against the property,
Coal & Brine Mining Search – Coal mining searches are required in any area of the country which has had active coal mining in the past, or currently. This search also includes the brine search (which largely affects properties in parts of Cheshire). This is done to ensure that the property could not be affected from subsidence from old mine shafts.
Tin Mining Search – A tin mining search is required in the south west of England in Cornwall, and some parts of Devon and Somerset. There is very little active mining left now in this area, but it is necessary to check for old mine shafts and so on which could affect a property (e.g. subsidence).