Leasehold Residential Purchase Pricing

Thank you for looking at our conveyancing services. Whether you are a first-time buyer or an investor, we will help you to buy your leasehold property.

We will guide you through your transaction, so you can have peace of mind that it is properly handled.

We provide a high quality, value-for-money service. We will keep you advised of what you need to know so you can make informed decisions to conclude your leasehold property transaction promptly.

Why Us

We know that complex issues can sometimes be involved with leasehold property. We are qualified Solicitors with the legal and technical expertise to resolve issues as they arise in a professional and efficient manner.

We hold the CQS Accreditation, issued by the Law Society. This ensures we maintain the highest levels of client care.

Pricing

We indicate our fee so that from the outset you know what the fees will be for your transaction. This fee will not change provided the transaction is straightforward and that no additional or unusual work is required.

Our fees are set out as:

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)

The example below assumes a purchase at a price of uo to £300,000

Item	Amount	VAT	Subtotal
Legal Fees	1950	390	2340
Electronic money transfer fee (each)	35	7	42
I D Check (per name)	35	7	42
Estimate Total	2020	404	2424

General 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	Subtotal
HM Land Registry Fee	135	135
Search Fees (approx)	400	400
Stamp Duty Land Tax(1)	2500	2500
Subtotal	3035	3035

(1)Standard rate (not first time buyer)

Leasehold 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:	125	250	25-50
Notice of Charge fee (if the property is to be mortgaged), this fee is set out in the lease. Often the fee is:	125	250	25-50
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:	125	250	25-50
Certificate of Compliance fee – to be confirm upon receipt of the lease, as the range can be	125	250	25-50
	500	1000	100-200

* 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 the 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.

Our fees are fixed, but there may be factors which would typically increase the fees for a straightforward transaction. Where there is 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 we discover building regulations or planning permission has not been obtained
If the property is a new build
The lease needs to be varied or extended
A new lease is to be granted

Time Scales

For any transaction, the timescales change depending on all the circumstances. We aim to exchange contracts four weeks after we receive all the necessary information, with completion two weeks after that.

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

Progression Steps

These may vary according to all the circumstances. Generally they are:

Taking your instructions and giving you initial advice
Receiving and reviewing contract documents
Carrying out searches
Making enquiries of seller's solicitor
Reporting on all documents and information received
Checking the conditions of your mortgage offer
Sending the contract to you for signature
Agreeing a completion date (the date on which you own the property)
Arranging for all monies needed to be received from the lender and you
Exchanging contracts
Completing purchase
Payment of Stamp Duty/Land Tax
Application for registration at the Land Registry
Sending the title information to you

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