Purchase of a Leasehold Residential Property

How much does this service cost?

No property purchase is the same and so our fees will reflect the particular requirements of your purchase.  The figures quoted below may vary in cases with added complexities, and therefore we cannot give you a fully reliable estimate of the cost of us helping you until we have details of the transaction.  That’s why we’ll always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase.  We will always advise you immediately about any complication; and would fully discuss the potential impact on price before any additional charges are incurred.

Our fees will be calculated primarily by reference to the purchase price of the property, although other factors may be taken into account.  These include the complexity of the matter, whether the property is a new build or a help to buy purchase.

Our fees, excluding VAT and disbursements, will range from approximately £950 for a property with a purchase price under £150,000 to approximately £1,950 for a property with a purchase price of or more than £1million.  VAT will be charged at 20% on top of all fees, costs and disbursements.

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. 

Potential Disbursements / Other Costs:

  • Preparing Stamp Duty Land Transaction Form - £60.00
  • Bank Transfer Fee (per transfer) - £35.00
  • Local / Plan plus / Water & Drainage / Environmental / Chancel Searches – Between £0 to £400 (depending upon individual’s or mortgage lender’s requirements)
  • Land Registry Search - £3.00
  • Bankruptcy Search (per search) - £2.00
  • Stamp Duty Land Tax – Dependent on property purchase price (refer to SDLT Government calculator)
  • Land Registry Application Fee – Dependent on property purchase price (refer to Land Registry fee guide)

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 we receive this information.

Please note that as there will be a landlord/management company/managing agent involved, there will be apportionments of service charge/ground rent/buildings insurance to calculate.

You will also need to account for management company fees for Notice of Transfer/Mortgage, Deed of Covenant, Membership and Certificate of Compliance (if applicable).  We will not be privy to these fees until the seller’s solicitor provides a leasehold management information pack to us during the transaction.

As part of our fee we will:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitors
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Send final contract to you for signature
  • Draft Transfer
  • Obtain pre-completion searches
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

How long will my property purchase take?

How long it will take from your offer being accepted until you can move into your home will depend on a number of factors.  The average process takes between 8-12 weeks for a purchase with no chain involved.  For property purchases with a chain it is likely to take a bit longer, but how much longer is dependent upon the other parties within the chain.