Pricing guidelines - Sale of a leasehold residential property

    Our fees cover all of the legal work required to complete the sale of your home, including discharging any mortgages.

    Conveyancers’ fees depend on the complexity of the transaction.  

    By way of an example the sale of a £350,000 property would incur the following fees and disbursements.

    CLICK HERE TO FILL IN OUR CONVEYANCING FEES QUOTE FORM

    Conveyancer's fees 

    Legal fee £1850
    Electronic money transfer fee £40
    VAT (charged at 20%) £378
    Subtotal £2268

     

    Conveyancing Disbursements 

    Disbursements are costs related to your purchase that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

    HM Land Registry fees (this is for leasehold and freehold title) £12 

     

    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. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.

    Management company’s information pack [Form LPE1].  This gives the buyer information on the level of service charge and Notice fees and the general running and management of the leasehold estate. Often the fee is between  £250- £500
    Possibly in addition a separate information pack may be required from the Landlord.  Often the fee is between  £250 - £500
    Estimate total £2,488

     

    Stages of the process

    The precise stages involved in the sale of a residential property vary according to the circumstances. However, the following is an outline of typical stages:

    • Take your instructions and give you initial advice
    • Prepare and send out contract documents
    • Obtain further information and documentation from you
    • Apply for management company’s information pack
    • Reply to enquiries from the Buyer’s solicitor 
    • Give you advice on replies to give 
    • Send final contract to you for signature
    • Agree completion date (date from which you own the property)
    • Exchange contracts and notify you that this has happened
    • Arrange for redemption statement from any mortgage lender 
    • Complete sale
    • Send documentation to buyer’s solicitor

    How long will my house sale take?

    How long it will take from your offer being accepted until you can move out of your house will depend on a number of factors. The average process takes between 8- 20 weeks.

    It can be quicker or slower, depending on the parties in the chain. For example, if you the buyer does not have a related sale, with a mortgage in principle, it could take 8 weeks.

    Our example 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.

     

    Feedback from our clients

    Our clients tell us they are happy: year after year, 94-96% of those providing feedback say they would recommend us and/or use us again. You can find out what our residential property clients say about us by clicking here.

    Related services

    We also undertake:

    • New build properties
    • Transfers of equity on a divorce
    • Lettings (landlord and tenant)
    • Property disputes
    • Commercial property transactions

    For full details of the services provided by our Residential Property Team, please click here.

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