Residential Purchase (Leasehold) Pricing

Whether you are a first-time buyer or an investor, we are here to help.

We will guide you through each step of your transaction and where necessary can recommend other professionals such as Surveyors, Independent Financial Advisors, and property valuers.

At a time where money really matters, we provide a quality service at a fair price.  We will keep you up-to-date with all of the relevant information so that you can make informed decisions and have confidence that every detail has been properly taken care of.  All our conveyancing work is carried out by a professionally qualified conveyancer, and is not delegated to “case handlers” which you may find elsewhere.

We are proud to hold both Lexcel and Conveyancing Quality Scheme accreditations, issued by the Law Society.  This involves the firm maintaining high levels of professional practice and client care.

Pricing

We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset.  If, during the transaction there is a new unexpected development which requires additional work by us we will discuss any change in our legal fees with you and agree a way forward.

Our legal fees:

Our legal fees cover all the work involved in completing your proposed purchase. Unfortunately dealing with a leasehold title is technically more complex than a freehold title. We also attend to the post completion requirements under the lease, submission of your Stamp Duty Land Tax return (in England) and the registration of your ownership of the property at the Land Registry. Please telephone or email us so that we can take a few details from you in order to be able to give you an exact estimate but the below details hopefully give you an idea of the range of costs that may be involved. 

Legal fees

    £980.00 - £1,100.00 plus VAT (£196.00 - £220.00)    

Electronic transfer of funds fee    

    £35.00 plus VAT (£7.00)    

The above fees are inclusive in that we do not add further fee charges for miscellaneous items (although Disbursements are payable in addition as dealt with below) 

We do not enter into any “referral fee” payment arrangements with estate agents or anyone else.

Disbursements:

Disbursements are costs related to your matter that are payable to third parties. These disbursements are payable by you in addition to the above fees. 

These disbursement costs are subject to change by the third parties, and may vary if further information is required specifically in relation to your matter.

The following are the typical disbursements involved with most purchase transactions:-

Local Authority search (NHDC)

LLC1 part - £20.00

CON29 part - £60.00 plus VAT (£12.00)

Drainage and Water enquiries (Anglian Water region)

£42.50 plus VAT (£8.50)

Environmental report

£51.00 plus VAT (£10.20)

Land Registry search

£3.00

Bankruptcy search (if applicable)

£2.00 (per name)

Stamp Duty Land Tax

This will depend on the purchase price of your property.

Land Registry registration fee

This will depend on the purchase price of the property and whether the title is ‘registered’ or not. 

Fees payable to the landlord and/or management company in connection with the lease

These vary from property to property.  They relate to notifying the landlord and management company of your ownership and compliance with Land Registry restrictions.  You will be advised of these costs once the lease and other applicable documentation is available.

Depending on the location of the property it may also be necessary for additional disbursements to be incurred.  For example, if the property may be subject to potential flooding or is in an area affected by past industrial/commercial use then further searches may be necessary.

Exclusions

We do not undertake mortgage or tax advice and we recommend you seek advice from an independent mortgage broker or financial adviser. Further, we do not carry out property valuations.

Our legal fees are fixed at the time of estimate, however there may be factors which would typically increase our fees.  Where there is likely to be any additional legal fees, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra fees will be provided.

Factors that may lead to an increase in our legal fees include:

  • If the legal title is defective, part of the property is unregistered, or a ‘lease extension’ is required.
  • If we discover building regulations or planning permission has not been obtained
  • If crucial documents, we have previously requested have not been provided to us
  • If the property is a new build purchase
  • If you require a Declaration of Trust document drawn up regulating joint ownership of the property

Time Scales

For any transaction, the timescales are subject to change depending on factors involved such as:

  • Number of parties in the chain
  • Whether you have a mortgage in place
  • Whether you are buying a new build property
  • Legal issues that that need to be resolved in order to provide you and your mortgage lender a satisfactory title to the property

A typical transaction will take between 8-10 weeks.  However, if any of the above apply, or there are other factors we need to take into consideration, this may increase the time by a further 4-6 weeks. We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

  • Taking your instructions and giving initial advice based on the information you have provided
  • Checking finances are in place to fund the purchase and contacting the lender's solicitors if needed
  • Receiving and advising on the contract documents
  • Undertaking searches
  • Obtaining further planning documentation if required
  • Making enquiries of the seller's solicitor
  • Providing advice on all documents and information received
  • Advising you of the mortgage offer conditions
  • Sending the final contract to you for signature
  • Agreeing a completion date (the date from which you will legally own the property)
  • Exchanging contracts and notifying you that this has happened
  • Ensuring all monies have been received from you and the lender(s)
  • Completing the purchase
  • Dealing with any requirements under the lease
  • Dealing with the submission of the Stamp Duty Land Tax return
  • Completing and submitting the application for registration of your ownership at the Land Registry