Fees – Sale of a Leasehold Residential Property

Our Team

Our team is made up of two experienced Solicitors.  The team is supervised by Leona Bulmer (Partner/Member).

Legal Fees

Our fees cover all of the work required to complete the sale a registered leasehold property including dealing with the estate agents, the buyer’s solicitor, any existing mortgage lender and the discharge of the mortgage.

Range of Fees

£570.00-£2,400.00 (including VAT). This depends on the value of the property. Our hourly rate is £160 per hour plus VAT.

Examples:

Value of Property                     Legal Fee

£200,000.00                             £780.00 including VAT
£300,000.00                             £900.00 including VAT
£400,000.00                             £1020.00 including VAT
£400,000.00 and above         Price on application
 
Plus

Leasehold Fee (Flat)                          £420.00 (including VAT)
Flat above 11m in height                  £660.00 including VAT)
Flat above 18 m in height                  £1020 including VAT)

New Build Fee                                     £150.00 (including VAT)
Help to Buy Fee                                  £240.00 (including VAT)
Accounts Administration Fee          £42.00 (including VAT)
Mortgage Fee                                     £60.00 (including Vat) per mortgage

Redemption of:
Help to Buy Mortgage                      £60.00 (including VAT)
Lenders solicitors fee                        £420.00 (including VAT)
Buy to let Tenancy fees                     £120.00 (Including VAT)

Disbursements

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.

The likely Disbursements are:

  • Land Registry Search Fees £6.00-£20.00  plus VAT
  • Anti Money Laundering/ID Search £15.00 per client (plus VAT) approx
  • Management Pack Fee  £250.00-£400.00 (including VAT) (charged by the Management Company when purchasing a leasehold flat)
  • Contingency Fees – percentage of the value (charged by the Management Company)

Referral Fee (if any)

If you are referred to us we may pay a referral fee. Full information will be provided to you in our client care information. Any referral fees are payable by us and not by you.

Stages of the Process

The precise stages involved in the sale of a residential property vary according to the circumstances. The following are key stages:

  • Take your instructions and give you initial advice
  • Check mortgage redemption figure and level of equity
  • Prepare contract documents
  • Carry out title checks
  • Obtain further planning documentation if required
  • Answer any enquiries from the buyer’s solicitor
  • Give you advice on all documents and information received
  • Send final contract to you for signature
  • Agree completion date
  • Exchange contracts and notify you that this has happened
  • Arrange for discharge of any mortgage and agents fees
  • Complete sale

We have outlined an estimate of costs above.  If you wish to discuss your case then please contact us and we will be able to provide a specific costs estimate for your matter.  If you decide to instruct us then full costs information will be given at the beginning of your matter.

How long will my house sale take?

How long it will take will depend on a number of factors. The average process takes between 8-12 weeks. It can be quicker or slower, depending on the circumstances and the parties in the chain.

*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
  • 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.