Purchase of a Leasehold Residential Property

Our fees cover all the work required to complete the purchase of your new home, including acting for a lender, dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

Conveyancer’s fees and disbursements

 Legal fee*      from £650

 VAT payable on our fee     from £130   

 Search fees      from £225

 HM Land Registry fee     from £95

 Fee for arranging an electronic bank transfer    £30.00

 VAT payable on the bank transfer fee   £6.00

Estimated Total from £1,136 plus SDLT/Land Tax

Disbursements are 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 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 Disbursements**

 Notice of Transfer fee – This fee if chargeable is set out in the Lease. Often the fee is between £20 - £150.

 Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £20 - £150.

 Deed of Covenant fee – This fee is provided by the Management Company for the property and can be difficult to estimate. This is likely to be between £100 - £200

 Certificate of Compliance fee – To be confirmed upon receipt of the Lease. This fee can range between £100 - £200.

In addition to the payment of our fees and the disbursements you may need to pay SDLT. The amount of tax that you will need to pay depends on your circumstance and 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.

*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 complication 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.

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.

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