Leasehold Purchases – Conveyancer’s fees and disbursements

Our fees cover all 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 (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

To find out the legal fee specifically for your purchase please use our online conveyancing calculator here; https://www.thursfields.co.uk/conveyancing-calculator/

For the purchase of a leasehold property valued at £300,000 the typical legal fee is £940.00+vat.

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
  • 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.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Purchase Property Price                              Land Registry Fee

£1 – 80,000                                                                         £20.00

£80,001 – 100,000                                                          £40.00

£100,001 – 200,000                                                       £95.00

£200,001 – 500,000                                                       £135.00

£500,001 – 1000,000                                                    £270.00

£1000,001 and above                                                    £435.00

Further information can be found at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

N.B. On occasion we may be required to pay a referral fee to an Agent. If this is payable this will be confirmed in your terms on instruction, however this has no impact on your fee payable to Thursfields Solicitors.

Anticipated Disbursements

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £20.00-£100.00
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £20.00 and £100.00
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 and £250.00
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £20.00 – £75.00

*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.

Stages of the process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some of the key stages:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • 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 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 8-12 weeks, but that is a guide only. Each transaction depends upon its own facts.

Leasehold Sales – Conveyancer’s fees and disbursements

Our fees cover all of the work required to complete the sale of your home.

For the sale of a leasehold property valued at £250,000 the typical legal fee is £830.00+vat.

To find out the legal fee specifically for your purchase please use our online conveyancing calculator here; https://www.thursfields.co.uk/conveyancing-calculator/

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
  • 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.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

  • Land Registry fee – £6.00+vat
  • Electronic money transfer and Archive fee – £45.00+vat

NB On occasions we may be required to pay a referral fee to an Agent. If this is payable this will be confirmed in your terms on instruction, however this has no impact on your fee payable to Thursfields Solicitors.

How long will my house sale take?

How long it will take from you accepting an offer until completion will depend on a number of factors. The average process takes between 10-14 weeks, but that is a guide only. Each transaction depends upon its own facts.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below are some of the key stages;

  • Take your instructions and send new instruction pack
  • Prepare and send contract documents
  • Pre contract enquiries
  • Exchange contracts and notify you that this has happened
  • Prepare for completion
  • Arrange for all monies needed to be received from the purchaser for completion
  • Complete purchase including repayment to mortgage provider if required

Re-mortgaging a Leasehold Property

When you change mortgage provider, for your leasehold property, our conveyancing team will guide you throughout the process. Our fees cover all of the work required and our experienced team will ensure your transfer is as smooth as possible.

Our legal fee for the re-mortgage of a freehold property is £550.00 plus vat

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

  • Search fees – approximately £250.00
  • Copy Land Registry Title – £6.00+vat
  • Land Registry fee – See table below
  • Electronic money transfer fee and Archive fee – £45.00+vat
Purchase Property Price                              Land Registry Fee

£1 – 100,000                                                                      £20.00

£100,001 – 200,000                                                       £30.00

£200,001 – 500,000                                                       £40.00

£500,001 – 1000,000                                                    £60.00

£1000,001 and above                                                    £125.00

Further information can be found at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Further information can be found at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

N.B. On occasion we may be required to pay a referral fee to an Agent. If this is payable this will be confirmed in your terms on instruction, however this has no impact on your fee payable to Thursfields Solicitors.

Anticipated Disbursements

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £20.00-£100.00
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £20.00 and £100.00
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100.00 and £250.00
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £20.00 – £75.00

*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.

How long will my re-mortgage take?

How long it will take from you accepting an offer until completion will depend on a number of factors. The average process takes between 6-8 weeks but that is a guide only. Each transaction depends upon its own facts.

Stages of the process

  • Requesting Title Deeds and Redemption Statement
  • Obtain Official Title documents
  • Check Official Title documents
  • Searches
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Preparing for Completion
  • Re-pay existing mortgage
  • Request funds from new mortgage provider
  • Register mortgage / Title

 

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