Leasehold Residential Sale
Thank you for looking at our property services. Whether you are a first-time buyer or an investor, we are here to take the stress out of buying and selling leasehold property.
We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled. Where necessary, we can also recommend other professionals such as Surveyors, IFAs and property valuers, giving you access to all the expertise you need.
At a time where money really matters, we take care to provide a high quality, value-for-money service you can rely on. We will keep you regularly advised of every detail you need to know so you can make informed decisions and conclude your leasehold property transaction promptly and with the minimum possible stress and hassle.
Why Us
We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property. Our approach is a simple – we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with all the details of your transaction on your behalf.
We know that communication is key, especially when dealing with the complex issues that can sometimes be involved with leasehold property. Our team are made up of highly qualified Solicitors who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.
You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have.
We realised that this is potentially the biggest investment of your life and we not only want to provide the first-class service you deserve, but also real value for money with no hidden fees.
We are proud to hold Lexcel and Conveyancing Quality Scheme (CQS) Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care.
Pricing
We know how important cost is when deciding who to use for leasehold conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.
We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward.
Leasehold Residential Property
Our fees cover all the work required to complete the sale of your new home
This includes:
- Acting for you in the sale
- Acting for any mortgage lender in the sale
Our fees are:-
| Sale Price | Fee (exc VAT) |
|---|---|
| Up to £500,000 | £2,250 |
| £500,001 – £750,000 | £2,450 |
| £750,001 – £1,000,000 | £2,750 |
| £1,000,001 – £1,500,000 | £3,250 |
| £1,500,001 – £2,000,000 | £4,000 |
| £2,000,001 – £3,000,000 | £5,000 |
| Over £3,000,000 | Please enquire for a tailored quote |
- Electronic money transfer fee £30
- VAT is payable at the current rate of 20% on our legal fees and the money transfer fee
We do not pay referral fees to third parties (e.g. estate agents or mortgage brokers).
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.
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.
| Fee | |
|---|---|
| HM Land Registry Fee for obtaining copies of your deeds | £10 – £24 |
| Obtaining copy planning and/or building regulation documents | £10 – £100 |
| Fees for duplicate Gas Safe/FENSA/NICEIC/CIGA certificates | £6 – £42 |
Anticipated Disbursements
| Fee | |
|---|---|
| Management Pack (this may be required from both the Landlord and the Managing Agent) | £200 – £300 |
These fees vary from property to property and can on occasions be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
Exclusions
Our Residential Property Team does not undertake tax advice in relation to property transactions.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
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 title to the property is unregistered or the preparation of additional documents ancillary to the main transaction
- This is the assignment of an existing lease and is not the grant of a new lease
- 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.
- Planning permission and/or building regulations consent has not been obtained for works undertaken to the property.
Time Scales
For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved, such as:
- Number of parties in the chain
- Whether the buyer has a mortgage in place
- Whether the buyer requests lease extension for a leasehold property
- Whether the searches flag up any issues
- Whether buyer’s Survey shows up any issues
- Buyer’s Enquiries
A typical transaction will take between 8-10 weeks. However, if any of the above apply or there are other factors we need to take into consideration, it may increase the time by a further 2-4 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity, so you always have a clear picture of how long things are likely to take.
Key Milestones
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and giving initial advised based on the information you have provided
- Checking finances are in place for the buyer to fund the purchase
- Drafting contracts of sale and any other necessary documents and reviewing these with you
- Sending the contacts of sale to the buyer’s solicitor and dealing with any enquires they have
- Providing advice on all documents and information received
- Finalising the contract and sending to you for signature
- Agreeing a completion date (the date from which the buyer will legally own the property)
- Exchanging contracts and notify you that this has happened
- Completing the sale