For transparency and the avoidance of any doubt, our fees are below.
Should you choose to instruct us, a tailored estimate of price will be provided based on your circumstances and the transaction and set out in our Engagement Letter.
The day to day work is carried out by Janice Colley, a Consultant Conveyancer and Solicitor and supervised by Richard Cramer, Managing Director and Solicitor.
|Leasehold Sale Costs||Amount (excluding any VAT applicable)|
|Our Legal Fees||Range from £800 to £2,050* (plus VAT)|
|Bank Transfer Fee (for each transfer made over £30,000)||£25 (plus VAT)|
|Electronic ID Search Verification (per name checked)||£6 (plus VAT)|
Land Registry Documents (Leasehold Register and Plan, Freehold Register and Plan, and Lease)
Bankruptcy Search (per person)
£15 (plus VAT) £3 per document (plus VAT)
£3 (plus VAT)
|Landlord’s Information Pack||£100 – £300 (average cost)|
|Sale Price of the Property||Our Legal Fees (excluding VAT)|
|Up to £100,000||£800 – £1,150|
|£100,000 – £250,000||£950 – £1,200|
|£250,000 – £375,000||£1,100 – £1,350|
|£375,000 – £500,000||£1,250 – £1,450|
|£500,000 – £750,000||£1,450 – £1,650|
|£750,000 – £1million||£1,700 – £2,050|
* for properties with a value of £1million and above, fees will be provided upon request
Services included in this price:
The above range of figures are based on the sale of an existing residential leasehold property by one or more individuals (as opposed to a company or business partnership) with a title which is already registered at HM Land Registry and assuming there is a mortgage on the property to a traditional high street mortgage lender. Most leasehold property sales in England and Wales will fall within this category. The fees include the following work:
Factors that may affect the price that you have to pay:
Additional work may need to be carried out on your sale which we are not aware of at the outset but which leads to an increase in our legal fees and/or the third party expenses which you will need to pay. If any such additional costs arise we will tell you about them as soon as possible. Examples of situations that might lead to an increase in costs include:
How long it will legally take to sell your leasehold property, so from your sale being agreed until you receive the sale proceeds, depends on a number of factors.
At present, a number factors, namely the effects of the coronavirus pandemic, a substantial and unexpected rise in the number of property transactions that are taking place and the current SDLT holiday, which is due to end on 30 June 2021, are combining to extend the average transaction time. In “normal” times the average time from a sale being agreed to completion taking place is 6 to 12 weeks but at present the timescale is more likely to be between 12 to 15 weeks. We aim to be better than average of course, however you should prepare for the fact that your transaction is likely to take longer than usual. We should also point out that if you are buying a property, we cannot guarantee that your transaction will complete prior to the end of the SDLT holiday on 30 June 2021 and you should therefore budget for any additional SDLT that you might become liable for.
It can be quicker or slower, depending on the parties in the chain and the number of parties in the chain. For example, if you are selling to a first time buyer who has a mortgage in principle, it could take from around 5 to 6 weeks for the sale to complete. However, if there are several transactions in the chain, this can take significantly longer, between 3 to 4 months. In such a situation, additional charges may apply.
Key Stages in the Sale Process:
The exact stages involved in the sale of a residential leasehold property vary according to the individual specific circumstances. However, the following are the key stages of a typical transaction: