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Leasehold Residential Purchase Pricing

Leasehold Residential Purchase Pricing

Whether you are a first-time buyer, moving home or an investor we will guide you through each step of your transaction and tailor our service to suit your requirements, providing a high quality but value for money service.  We will keep you regularly advised so that you make informed decisions.

 

We are proud to hold the CQS accreditation issued by the Law Society which confirms that we ensure we maintain the highest levels of client care at all times.

 

Pricing

We will usually work on a fixed fee basis so that you know what fees will be incurred.  If there is a new development during the transaction which may/will change the fee charged we will discuss with you and agree a way forward.Our fees will cover all the work required to complete the sale and/or purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty for properties in England.

 

Leasehold Purchases:

PROPERTY VALUE

OUR FEE (PLUS VAT)

Up to £250,000

£950

£250,001 to £450,000

£1,050

£450,001 to £750,000

£1,300

£750,001 to £1,000,000

£1,550

Over £1,000,000

Please contact us direct

 

 

Disbursements

These are any costs related to your matter which are payable to third parties, such as search fees.  We will handle the payment of disbursements on your behalf. Certain disbursements will be included within the Lease to the property.  The disbursements we anticipate are set out below. However, this list is not exhaustive and other disbursements may become due depending on the terms of your lease.  We will update you with specific fee upon review of the lease from the seller’s solicitors.

 

Property Search fees

£400 approx

Telegraphic transfer fee x 1

£36

Land Registry Search

£3

Bankruptcy search fee - £2 per person

£8 (buyers and sellers)

Electronic ID verification fee

£4.80 each person

 

 

 

 

 

 

 

H M LAND REGISTRY FEES (payable on all matters where registration at H M Land Registry is required

Scale 1 Fees

N.B. - When registering transfers of whole, this scale only applies when there is a consideration being paid

Property Value/Consideration

Postal Applications

Portal Applications (transfers (for value) or surrenders of whole)

Portal Applications (registration of leases and transfers or surrenders of part)

Voluntary First Registration (reduced fee)

£0.00 - £80,000.00

£40.00

£20.00

£40.00

£30.00

£80,001.00 - £100,000.00

£80.00

£40.00

£80.00

£60.00

£100,001.00 - £200,000.00

£190.00

£95.00

£190.00

£140.00

£200,001.00 - £500,000.00

£270.00

£135.00

£270.00

£200.00

£500,001.00 - £1,000,000.00

£540.00

£270.00

£540.00

£400.00

£1,000,001.00 upwards

£910.00

£455.00

£910.00

£680.00

 

 

 

 

 

 

 

 

 

Scale 2 Fees

N.B. - When registering transfers of whole, this scale only applies when there is no consideration being paid (fees are based on estimated property value)

Property Value/Consideration

Postal Applications

Portal Applications (transfers and charges of whole, transfers of charges and other applications of whole)

Portal Applications (transfers of part and all other Scale 2 applications not affecting the whole of a registered title)

£0.00 - £100,000.00

£40.00

£20.00

£40.00

£100,001.00 - £200,000.00

£60.00

£30.00

£60.00

£200,001.00 - £500,000.00

£80.00

£40.00

£80.00

£500,001.00 - £1,000,000.00

£120.00

£60.00

£120.00

£1,000,001.00 upwards

£250.00

£125.00

£250.00

 

STAMP DUTY

This depends on the purchase price of your property and your personal circumstances.  You can calculate the amount you will need to pay using HMRC’s website at https://www.gov.uk/stamp-duty-land-tax

 

Exclusions

 

We do not provide tax advice, which you should obtain from an accountant or tax specialist if required.

Our fees are fixed but there may be factors which could increase the cost.  Where this is likely we will inform you at the earliest possible opportunity.  The following factors could result in an increase to the fixed cost quoted:

  • If you discover building regulations or planning permission has not been obtained
  • If crucial documents requested from you have not been provided.
  • If a legal title is defective or if part of the property is unregistered
  • If the property is less than 10 years old or a new build
  • If you require a Declaration of Trust regarding ownership of the property
  • If the property is shared ownership

 

Timescales

 

Timescales are difficult to predict as they are subject to change depending on when your offer is accepted and other factors.  However, the average process takes around 10-14 weeks but do bear in mind that it can be quicker depending on the parties in your chain.  If you are buying a Leasehold property that requires an extension of the Lease it could take significantly longer and in such cases additional charges would apply.

 

Our fee is on the basis that:

  • This is a standard transaction and that no unforeseen matters arise
  • This is the assignment of an existing lease and not the grant of a new lease
  • No unforeseen complications arise
  • No indemnity policies are required – additional disbursements will apply if this is the case.

 

Our Team

We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property.

Robert Taylor is a Solicitor, Partner of EMD and head of conveyancing.  He has over 40 years of experience in conveyancing, both residential and commercial and is competent in all areas of conveyancing. Contact Robert on 01424 420261

William Brown is a Chartered Legal Executive with over 40 years’ experience in all areas of conveyancing.  Contact William on 01580 89060

Barnaby Nickolls is a Solicitor with 3 years’ experience in conveyancing.  He is competent in all areas of conveyancing.  Contact Barnaby on 01580 890600/01424 424261

Alexander Lawrence is a trainee Licensed Conveyancer who assists the senior members of the team.  He deals mainly with residential conveyancing but is also competent in dealing with re-mortgages and Lease extensions.  Alex can be contacted on 01580 890600