Table of Fees
Our fees cover all of the work* required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (SDLT).
A leasehold transaction involves more work than a freehold transaction as it is often necessary to liaise with the Landlord, Managing Agent and any Management Company to obtain information about ground rents and service charges and to request any consents that may be required before the lease can be sold. In addition, the Lease must be reviewed in full to check that it is acceptable and that it meets the expectations of you and any lender.
Conveyancer’s fees and disbursements
A tailored fee quote will be provided to you on application.
*Our fee assumes that:
Please view our What is included information sheet to let you know the services that are included in the above fees. Please view our What is not included information sheet to let you know some of the issues that may arise and that will attract an additional fee. Please note that this is not an exhaustive list and prices may vary depending on the complexity of the transaction or the issue that has arisen.
Unless otherwise stated, additional work will be billed in accordance with the Conveyancer’s hourly rates.
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 term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
**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 and the management information pack.
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.
Stamp Duty Land Tax
This depends on the purchase price of your property and your particular circumstances. You can calculate the amount you may need to pay by using HMRC’s website for properties located in England. This will give you an indication of the tax you will need to pay but we will confirm the figure to you in due course, as some transactions involve complex stamp duty land tax.
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8 and 12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 4 weeks to exchange contracts, but with a delayed completion date while the house or flat is being built. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, the stages listed below occur in a typical leasehold purchase transaction: