Leasehold Purchase (Residential)
Our leasehold purchase fees are:
Purchase price of property + associated costs
Estimate of our costs:
£1500 + VAT + Disbursements
Disbursements
These are costs payable to third parties that relate to your purchase, and include:
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Stamp Duty (this depends on the purchase price of your property.) For England, you can calculate the amount of stamp duty land tax you need by using HMRC's website
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Searches (approximately £300 plus VAT, but this varies on the location of the property)
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ID searches (approximately £15 per person + VAT)
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Electronic money transfer (approximately £50 + VAT)
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Land Registry fees (these are dependent on the purchase price of the property)
In addition, there may be fees payable to the landlords or managing agents for notifying them of the purchase (these fees will be dependent on the managing agent/landlord).
We require at least 10 working days between exchange and completion. This is regarded as the minimum period in which to deal with all the formalities. If you have a shorter period, then there will be a charge.
Key stages of purchasing a residential property
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Take instructions and give you initial advice
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Check through mortgage offer, respond to lender, explain mortgage deed to you and have it signed (if applicable)
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Receive contract documentation from sellers' solicitors
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Apply for searches, raise enquiries on papers received with follow-up enquiries for any outstanding issues/papers
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Send you contract for signature and advise you thereon
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Agree a completion date and exchange contracts
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Where money is required from you, send you a financial statement, obtain monies from lender, pay any stamp duty and register the property title at the land registry
Note:
If your matter requires additional work that is not included in the fees indicated above, you will be informed of this and of the nature of the additional costs at the earliest possible opportunity. Our fees indicated above assume this is the purchase of a registered title property and a standard transaction. If the property you are purchasing has unregistered legal title, this may give rise to additional fees.
Fees indicated also assume no unforeseen matters arise including, for example, a defect in title which requires remedying prior to completion, or the preparation of additional documents additional to the main transaction.
Leasehold Sale (Residential)
Our leasehold sale fees are:
Sale price of property + associated costs
An estimate of our costs:
£1500 + VAT + Disbursements
Disbursements
These are costs payable to third parties that relate to your sale, and include:
-
ID searches (approximately £15 per person)
-
Electronic money transfer (approximately £50)
-
Land Registry fees (these are dependent on the purchase price of the property)
In addition, there may be fees payable to the landlords or managing agents for any management fees falling due.
We require at least 10 working days between exchange and completion. This is regarded as the minimum period in which to deal with all the formalities. If you have a shorter period, then there will be a charge.
Additional fees may be required for indemnity insurance policies if applicable.
Key stages of selling a residential property
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Take instructions and give you initial advice
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Make contact with the buyers' solicitors
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Send draft contract and supporting documents
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Deal with any additional enquiries raised by the buyers' solicitors and report to you
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Send you contract for signing
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Agree completion date and exchange contracts
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Send you transfer documents for execution
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Obtain redemption figure
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Complete and discharge any mortgages, report to you and send you any monies due
Note:
If your matter requires additional work that is not included in the fees indicated above, you will be informed of this and of the nature of the additional costs at the earliest possible opportunity. Our fees indicated above assume this is the sale of a registered title property and a standard transaction.
If the property you are selling has unregistered legal title, this may give rise to additional fees. Fees indicated also assume no unforeseen matters arise including, for example, a defect in title which requires remedying prior to completion, or the preparation of additional documents additional to the main transaction.