Sale of a Leasehold Residential Property

Our fee

Our below fee covers all of the work required to complete the sale of your home including redeeming a mortgage.

Conveyancer’s fees and expenses

  • Legal fee* from £550 plus VAT
  • Fee for arranging an electronic bank transfer £30 plus VAT
    (if we are redeeming a mortgage)
  • Obtaining Land Registry document/s from £6 plus VAT

Expenses are costs related to your matter that are payable to third parties, such as obtaining title documents from the Land Registry. We handle the payment of these on your behalf to ensure a smoother process. There are certain expenses which will be set out in the individual Lease relating to the Property. The expenses which we anticipate will apply are set out separately below. This list is not exhaustive and other costs may apply depending on the terms of the Lease. We will update you on the specific fees upon receipt and review of the Lease from the seller’s solicitors.

Anticipated Expenses** 

  • Replies to Leasehold Property Enquiries from Landlord/Managing Agent – There is usual a fee to pay for the provision of these replies and the fee often ranges between £100 – £350
  • Transfer/Contingency Fee – These are common in shared ownership and retirement properties and the fee must be paid by a seller upon completion of the sale. The fee tends to be a fixed percentage of the sale price e.g. 1%

How long will my property sale take? 

How long it will take from you accepting an offer until you complete your sale will depend on a number of factors. On average the process takes between 8 – 10 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if a first-time buyer is buying your property and there is a mortgage in principle already in place, it could take 4 weeks. However, if you are selling a leasehold property that requires an extension of the Lease, this can take significantly longer, between 2 and 4 months. In such a situation additional charges would apply.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances but the key stages are detailed below:

  • Take your instructions and give you initial advice
  • Issue the Contract documents
  • Obtain the replies to the Leasehold Property Enquiries from the Landlord/Managing Agents
  • Consider and reply to the enquiries of buyer’s solicitor
  • Send the Contract to you for signature
  • Agree a completion date
  • Exchange Contracts and notify you that this has happened
  • Obtain a redemption statement from your lender
  • Send the Transfer Deed to you for signature
  • Complete the purchase
  • Redeem your mortgage
  • Pay your estate agent
  • Provide you with the proceed of sale

Who will act on my behalf? 

Currently there are 5 people in our Property Department that may undertake this work for you. If you refer to the “Our Team” page on our website you can see details of their qualifications and experience. Our Partners, Nicola Baddick and Ann Harris, who are both Solicitors, work within our Property Department and they supervise all work undertaken in the Department.

*Our fee assumes that:

  • this is a standard transaction and that no unforeseen matters arise including for example (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 complications arise.
  • all the 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.

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