BUYING AND SELLING A LEASEHOLD RESIDENTIAL PROPERTY FEES

Buying or selling your home can be very exciting. Our dedicated Residential Property team will work hard to help your transaction go as smoothly as possible.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

• 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 the 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

For more information about buying and selling a property, please visit our guides to Buying A House and Selling A House.

Fees and Disbursements

Our fees cover all of the work required to complete the purchase of your new home, including:

• carrying out the necessary searches;
• liaising with the other side’s solicitors;

• dealing with registration at the Land Registry;
• 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 you wish to buy is in Wales.

Our fees vary from property to property and can on occasion be significantly more than the ranges given in the tables below. We can give you an accurate figure once we have sight of your specific documents, so we suggest that you always give us a call to discuss your individual circumstances.

You will also need to pay disbursements. 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.

The likely costs, including disbursements, for purchasing a leasehold property are as follows:

Property price	Solicitors’ fees	Search fees (no VAT)	Land Registry (no VAT)	Storage and completion expenses	Processing fee	VAT at 20%	TOTAL
£0  / £80,000	£1,195.00	£250.00	£20.00	£85.00	£40.00	£244.00	£1,834.00
£80,001/100,000	£1,195.00	£250.00	£40.00	£85.00	£40.00	£244.00	£1,854.00
£100,001/150,000	£1,195.00	£250.00	£100.00	£85.00	£40.00	£244.00	£1,914.00
£150,001/200,000	£1,195.00	£250.00	£100.00	£85.00	£40.00	£244.00	£1,914.00
£200,001/300,000	£1,195.00	£250.00	£150.00	£85.00	£40.00	£244.00	£1,964.00
£300,001/450,000	£1,295.00	£250.00	£150.00	£85.00	£40.00	£244.00	£2,064.00
£450,001/500,000	£1,395.00	£250.00	£150.00	£85.00	£40.00	£263.00	£2,183.00
£500,001/550,000	£1,495.00	£250.00	£295.00	£85.00	£40.00	£263.00	£2,428.00
£550,001/£650,000	£1,595.00	£250.00	£295.00	£85.00	£40.00	£283.00	£2,548.00
£650,001/£750,000	£1,695.00	£250.00	£295.00	£85.00	£40.00	£303.00	£2,668.00

 

The likely costs, including disbursements, for selling a leasehold property are as follows:

Property price	Solicitors’ fees	Land Registry and ID fees (incl of VAT)	Storage and completion expenses	Processing fee	VAT at 20%	TOTAL
£0 / £150,000	£1,195.00	£27.30	£85.00	£40.00	£244.00	£1,491.30
£150,001/250,000	£1,195.00	£27.30	£85.00	£40.00	£244.00	£1,491.30
£250,001/350,000	£1,295.00	£27.30	£85.00	£40.00	£244.00	£1,491.30
£350,001/450,000	£1,395.00	£27.30	£85.00	£40.00	£244.00	£1,491.30
£450,001/550,000	£1,495.00	£27.30	£85.00	£40.00	£263.00	£1,605.30
£550,001/£650,000	£1,59500	£27.30	£85.00	£40.00	£283.00	£1,725.30
£650,001/£750,000	£1,695.00	£27.30	£85.00	£40.00	£303.00	£1,845.30