Leasehold Residential Purchase Pricing

Thank you for looking at our property services. Whether you are a first-time buyer or an experienced property investor, we are here to take the stress out of buying and selling a home. We will guide you through each step of the process and tailor our service to your personal requirements, so you get exactly the service you need.

By dealing with all the associated legal requirements, we will help you to conclude your leasehold property transaction promptly and with the minimum possible stress and hassle. Where necessary, we can also recommend other professionals such as Surveyors, IFA’s and property valuers, giving you access to all the expertise you need.

Why Us

We have an experienced team who take care of all the important legal details and remove any confusion and uncertainty from the process of selling a property. Whether you are selling your property through an estate agent or privately, we will make everything as clear as possible. 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.

We also recognise that communication is key, especially where there are complex issues to deal with, so will ensure you are always kept up-to-date and get answers to your questions in plain English.

We want you to feel confident that you are a priority, and so we aim to ensure that a member of our team is available to speak with you when you need some clarity at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns. We know that property is often the biggest investment you will have, so we want to offer a reliable, first-class service to protect that investment, while also providing value for money with no hidden fees.

We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. To obtain these accreditations, the firm must undergo a rigorous audit process that ensures we maintain high levels of client care.

Pricing

We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. If, during the transaction, there is a new development, we will discuss any associated change in fees with you and agree a way forward.

Our fees cover all the work required to complete the purchase of your new home. This includes dealing with registration at the Land Registry and 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.

Purchase Price up to £250,000

Item

Amount

VAT

Subtotal

Legal Fees

£795.00

£159.00

£954.00

Purchase Price £250,001 to £395,000

Item

Amount

VAT

Subtotal

Legal Fees

£895.00

£179.00

£1,074.00

Purchase Price £395,001 to £500,000

Item

Amount

VAT

Subtotal

Legal Fees

£950.00

£190.00

£1,140.00

Purchase Price £500,001 to £750,000

Item

Amount

VAT

Subtotal

Legal Fees

£995.00

£199.00

£1,194.00

Purchase Price £750,001 to £1,000,000

Item

Amount

VAT

Subtotal

Legal Fees

£1,350.00

£270.00

£1,620.00

Purchase Price £1,000,001 to £1,250,000

Item

Amount

VAT

Subtotal

Legal Fees

£1,850.00

£370.00

£2,220.00

Purchase Price over £1,250,000

Item

Amount

VAT

Subtotal

Legal Fees

£2,350.00

£470.00

£2,820.00

Land Registry Fee

The Land Registry will charge a registration fee depending on the value of the property on the following scale:

Value or amount

 

0 to £80,000

£20

£80,001 to £100,000

£40

£100,001 to £200,000

£95

£200,001 to £500,000

£135

£500,001 to £1,000,000

£270

£1,000,001 and over

£455

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 that will be set out in the individual lease relating to the property being purchased. The disbursements that 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 after receiving and reviewing the lease from the seller’s solicitors.

Item

Amount

VAT

Subtotal

Search Fees

206.17

41.23

247.40

Case Management Fee

30.00

6.00

36.00

Telegraphic transfer fee (per transfer)

25.00

5.00

30.00

Land Registry Search fee

3.00

  

Bankruptcy Search fee (per person)

2.00

 

 

Other 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:

40.00

150.00

 

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

40.00

150.00

 

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:

100.00

175.00

 

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

50.00

150.00

 

* 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 reviewed 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 at HMRC's website, or if the property is located in Wales at the Welsh Revenue Authority's website.

Exclusions

We do not undertake tax advice.

Our fees are fixed, but there may be factors that 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 that building regulations or planning permission has not been obtained.
  • If crucial documents that we have previously requested from you have not been provided to us.
  • If the property is a new build.
  • If the property is less than 10 years old.
  • If you require to exchange within 6 weeks of instructing us.
  • If you require completion within 6 weeks of instructing us.
  • If you require simultaneous exchange and completion.

Timescales

For any transaction, the timescales can be subject to change due to a variety of factors, including when your offer is accepted. The average process takes between 10–12 weeks, but 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 14 weeks. However, if you are buying a leasehold property that requires an extension of the lease, then it could take significantly longer, between X and X months. In such, a situation additional charges would apply.

Our fee assumes that:

  • This is a standard transaction and that no unforeseen matters arise, including (but not limited to) a defect in title that 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 complications 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

Every transaction will involve certain key milestones, which may vary according to individual circumstances. For a leasehold property, these milestones can include:

  • 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.