Leasehold Residential Purchase Pricing

Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying and selling leasehold property.

We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled.

Why Us

We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property. Our approach is a simple – we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with all the details of your transaction on your behalf.

We know that communication is key, especially when dealing with the complex issues that can sometimes be involved with leasehold property. Our team are made up of highly qualified Solicitors who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.

We are proud to hold Lexcel and Conveyancing Quality Scheme Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care.

Pricing

We know how important cost is when deciding who to use for leasehold conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.

Leasehold Residential Property

Our fees cover all 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 is in Wales

Our fees are based, in part, on the value of the property being purchased.

A guide to the types of fees charged, follows:

Value of property being sold

Fee guide

0-£250,000

£750

£250,000 - £450,000

£850

£450,000 - £600,000

£900

£600,000 - £750,000

£950

£750,000 - £900,000

£1,000

£900,000 - £1,000,000

£1,250

OVER £1,000,000

 0.125% of sale price

 

Item

Amount

VAT

Subtotal

Legal Fees

£900

£180

£1,080

Land Registry Fee

£270

  

Local searches

£180

  

Land Registry and Bankruptcy Search Fee

£7

  

Bank transfer fee

£36

  

VAT

£180

  

Estimate Total

£1,573

  

No extra charges

We do not pay referral fees to estate agents so these costs are not passed on to you.

We make no additional charges for verifying identity or administrative tasks such as submitting Stamp Duty forms.

Disbursements

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

There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on specific fees upon receipt and review of the lease from the seller’s solicitors.

Item

Amount

VAT

Subtotal

HM Land Registry Fee

   

Search Fees

   

VAT on search fees

   

Electronic money transfer fee

   

VAT

   

Subtotal

   

Anticipated Disbursements*

Item

Range from

Range to

Plus VAT

Notice of Transfer fee, this fee if chargeable is set out in the lease. Often the fee is:

150

300

 

Notice of Charge fee (if the property is to be mortgaged), this fee is set out in the lease. Often the fee is:

150

300

 

Deed of Covenant fee, this fee is provided by the management company for the property and can be difficult to estimate. Often the fee is:

150

350

 

Certificate of Compliance fee – to be confirm upon receipt of the lease, as the range can be

150

250

 

* These fees vary from property to property and can on occasions be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Stamp Duty Land Tax

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.

Exclusions

We do not undertake tax advice.

There may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  • If a legal title is defective or part of the property is unregistered
  • If you discover building regulations or planning permission has not been obtained
  • If crucial documents, we have previously requested from you have not been provided to us
  • If the property is a new build

Time Scales

For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved. The average process takes between 6-8 weeks. It can be quicker or slower, depending on the parties in the chain.

Our fee assumes that:

  • This is a standard transaction and that no unforeseen matters arise, including (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • This is the assignment of an existing lease and is not the grant of a new lease
  • The transaction is concluded in a timely manner and no unforeseen complication arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

  • Taking your instructions and giving you initial advice
  • Checking finances are in place to fund purchase and contacting lender's solicitors if needed
  • Receiving and advising on contract documents
  • Carrying out searches
  • Obtaining further planning documentation if required
  • Making any necessary enquiries of seller's solicitor
  • Giving you advice on all documents and information received
  • Going through the conditions of your mortgage offer
  • Sending the final contract to you for signature
  • Draft Transfer
  • Advising you on joint ownership
  • Obtaining pre-completion searches
  • Agreeing a completion date (the date from which you own the property)
  • Exchanging contracts and notifying you that this has happened
  • Arranging for all monies needed to be received from lender and you
  • Completing purchase
  • Dealing with payment of Stamp Duty/Land Tax
  • Dealing with application for registration at Land Registry