Services

Leasehold Purchases – Conveyancer’s Fees
and Disbursements

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

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 

 

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.

Search fees
approximately £250.00

Stamp Duty Land Tax
See HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here.

Electronic money transfer fee and Archive fee
£45.00+vat

Land Registry fee
See below

Purchase Property Price
£1 – 80,000
Land Registry Fee
£20.00

Purchase Property Price
£80,001 – 100,000
Land Registry Fee
£40.00

Purchase Property Price
£100,001 – 200,000
Land Registry Fee
£95.00

Purchase Property Price
£200,001 – 500,000
Land Registry Fee
£135.00

Purchase Property Price
£500,001 – 1000,000
Land Registry Fee
£270.00

Purchase Property Price
£1000,001 and above
Land Registry Fee
£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.

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.

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