Sale of a leasehold residential property: fee structure
Conveyancer’s fees and disbursements
The fees for our conveyancing services cover all the work* required to complete the sale of your property, including redeeming your mortgage (if applicable), paying your estate agents fee and in the case of leasehold sales, dealing with your landlord/management company to obtain replies to standard leasehold enquiries.
Our fees
| Purchase Price | Legal Fee |
|---|---|
| £0 – £750,000 | £1,900 – £2,300 + VAT at 20% |
| £750,000 – £1,000,000 | £2,300 – £2,700 + VAT at 20% |
| £1,000,000 – £1,250,000 | £2,700 – £3,100 + VAT at 20% |
| £1,250,000 – £1,500,000 | £3,100 – £3,500 + VAT at 20% |
| £1,500,000+ | Contact for a tailored quote |
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as obtaining official copies of your title from the land registry. search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Anticipated Disbursements: –
- Official Copies of title – £12.00
- Official Copy of Lease – £6.00
- Management Pack (estimate) – £400.00
- Electronic ID/AML Search (per person) – £30.00 + VAT at 20%
- Electronic money transfer – £40.00 + VAT at 20%
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. We have summarised some of the key stages below as follows:
- Take your instructions and give you initial advice
- Obtain Title deeds from you/ your lender/ land registry
- Obtain a redemption statement from your lender
- Send you the Fittings and Contents Form, Property Information Form and Leasehold Information Form (if applicable) for you to complete and return
- Examine the extent of your title
- Review your documents to ensure they are completed correctly and obtain any missing documents or additional information
- If leasehold – send the LPE1 or request for the management pack to your landlord/management company
- Draft Contract and submit contract pack to the buyers solicitor
- Deal with enquiries raised by the Buyers solicitor, taking your instructions and advising as necessary
- Agreeing form of Contract
- Arranging for you to sign the Contract
- Agreeing completion date
- Exchange Contracts and notify you this has happened
- Obtain up to date redemption statement from your lender
- If leasehold –obtain up to date service charge and ground rent statements from you landlord/management company
- Agreeing form of Transfer and arranging for you to sign this
- Complete sale
- Deal with redemption of your mortgage and payment of estate agents invoice
- If leasehold deal with payment of any service charge/ground rent arrears.
- Advise you on joint ownership
How long will my house purchase take?
How long it will take from accepting an offer to purchase your property until the sale is completed will depend on a number of factors. The average process takes between 8 -12 weeks.
* 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
- (if leasehold) this is the assignment of an existing lease and is not the grant of a new lease
- Title to the property is registered
- The transaction does not involve the purchase of a New Build, Shared Ownership or Right to Buy property
- 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.
- Finance is being obtained on standard terms. This does not include bridging finance, Help to Buy Mortgages, Help to Buy Isa or Islamic Mortgages.
