Residential Conveyancing – Leasehold Properties

• Acting for you in the purchase of your new home – £1,000
• Acting on behalf of your mortgage company – £100
• Leasehold fee – £200
• Transfer of funds, per item – £30
• Stamp Duty Land Tax Form Completion – £75
• Searches Administration – £25
• ID check – £5

VAT at 20% will be charged on the above.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The following disbursements may be incurred and will not attract VAT at 20% unless stated:-

• Standard Search Pack: Local Authority, Water & Drainage, Environmental, Chancel Indemnity – £350
• Land Registry Fee – £135
• Land Registry Search Fee – £3
• Bankruptcy Search Fee (per name) – £2
• Stamp Duty Land Tax – This depends on the purchase price of your property and your circumstances as different rates apply. You can calculate the amount you will need to pay by using HMRC’s website at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

These fees vary from property to property and can be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents. The following disbursements may be incurred and will not attract VAT at 20% unless stated:-

• Notice of Transfer fee – This fee, if chargeable, is set out in the lease. Often the fee is between £100 to £200 plus VAT .
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100-200 plus VAT per notice.
• Deed of Covenant fee – This fee is payable to the management company on completion and can be difficult to estimate. Often it is between £100-200 plus VAT.
• Certificate of Compliance fee – To be confirmed upon receipt of the lease and is between £75-200 plus VAT.

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

The precise stages involved in the purchase of a residential property vary according to the circumstances – the key stages are as follows:-

• Take your instructions and give you initial advice
• Check finances are in place to fund purchase and contact lender’s solicitors
• Receive and advise on contract documents
• Request management pack
• Raise enquiries on the management pack
• Read and advise on the lease and raise enquiries
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of seller’s solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Personal attendance with you to go through the paperwork and sign the contract
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from lender and you
• Complete purchase
• Deal with payment of Stamp Duty Land Tax
• Deal with application for registration at Land Registry
• Deal with post completion Notices

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a freehold house with a mortgage in principle, it could take 8-10 weeks. However, if you are buying a leasehold property with a management company it can take from 12-16 weeks especially if there is a chain.

• Acting for you in the sale of your property – £850
• Acting on behalf of your mortgage company – £100
• Leasehold Fee – £100
• Transfer of funds, per item – £30
• ID check – £5

VAT at 20% will be charged on the above.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The following disbursements may be incurred and will not attract VAT at 20% unless stated:-

• Land Registry Office Copy Entries, per title – £6
• Management Pack (estimate) – £300 plus VAT

The precise stages involved in the sale of a residential freehold property vary according to the circumstances – the key stages are as follows:-

• Take your instructions and give you initial advice
• Arrange for you to complete the protocol forms
• Obtain and investigate the title to the property and your right to sell the property
• Obtain a redemption statement from your mortgage lender
• Obtain replies to enquiries from any management company
• Prepare contract documents and send these to the buyer’s solicitor
• Respond to any necessary enquiries of the buyer’s solicitor
• Give you advice on all enquiries received
• Send final contract to you for signature
• Agree completion date (date on which you sell the property)
• Exchange contracts and notify you that this has happened
• Calculate any apportionments to be collected
• Arrange for all monies required to be collected from the buyer’s solicitor
• Pay the estate agent, if any
• Redeem the mortgage, if any
• Account to you.

How long it will take from the offer being accepted until the sale completes will depend on a number of factors. The average process takes between 6-12 weeks. It can be quicker or slower, depending on the parties in the chain.