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Our fees for a leasehold residential property purchase are set out in the Fee Schedule and cover the essential conveyancing steps that will need to be taken on a typical leasehold residential property purchase by a single natural person with no mortgage.
Our fees as set out in the Fee Schedule include all of the items specified in the Key stages of the transaction. If you proceed to instruct us, this will be the scope of work that will be set out in our letter of engagement.
Our fees assume that:
Additional fees will apply for any unforeseen, unusual, complex or additional elements required in the transaction. We have specified the more common elements which are likely to arise in the Table of Supplemental Fees below and for which we have been able to allocate an additional fixed charge.
Single leasehold purchase, price £300,000, no mortgage and no landlord consent/deed of covenant:
Conveyancer's fees for purchase £2,500
Conveyancer's fees for SDLT/WLTT Return (assuming straightforward and no advice in relation to any surcharges or reliefs required) £300
Search costs and disbursements (inclusive of VAT) (best estimate) £672
VAT (best estimate) £560
Land Registry fees £150
Stamp Duty Land Tax (basic rate, no relief) £2,500
Total fees disbursements and purchase costs £6,682
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
We use a National Land Information Service licensed supplier to obtain our search results from a wide range of sources (local authorities, water authorities and others). A fee is payable (plus VAT) each time we use this service which we will add to the search costs payable by you.
We set out below the estimated search costs (inclusive of VAT) which are likely to arise on a standard transaction, assuming that basic searches are undertaken, with the higher cost applied where there is a range of costs, as follows:
Local authority search: £480
Drainage and Water search: £75
Chancel check: £26
Envirosearch residential: £63
Land Registry title, plan and lease: £9
Land Registry Index map: £4
Mapping charge: £10
Pre-completion searches: £5
Total: £672
Disbursements will also include a fee payable to the Land Registry for the registration of your purchase (and mortgage if relevant) after completion. Land Registry fees are based on a scale relevant to the value of the property and type of registration required. We have included the relevant scale fee in our Fee Schedule for that value of property assuming a simple electronic application for registering a transfer of whole (with mortgage if relevant).
There are certain disbursements which may need to be incurred which will be unknown at the outset of a transaction and which cannot be estimated in advance. These include (without limitation), additional title documents that are required, travel and courier charges, search fees specific to the property or the location of the property, amounts which may need to be paid under the lease to facilitate the transaction, such as landlord/managing agents fees for obtaining additional building management information, landlord consents and/or lease registration fees and fees payable to a local authority for the provision of planning information and documents.
Notice of Transfer fee – this fee if chargeable is set out in the lease. Often the fee is between £5 to
£50 plus VAT.
Notice of Charge fee (if the property is to be mortgaged) – this fee is set out in the lease. Often the fee is between £5 to £50 plus VAT.
Deed of Covenant fee – this is a fee charged by a landlord/management company for dealing with a deed of covenant where required under a lease. Often it is between £100 to £200 plus VAT.
Certificate of Compliance fee - this is a fee charged by a third party, often landlord/management company, for providing a certificate of compliance with a title Restriction. Often it is between £100 to £300 plus VAT.
These costs vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
This depends on the purchase price of your property and other relevant circumstances of the transaction. You may be able to calculate the amount you will need to pay by using HMRC's website or, if the property is located in Wales, using the Welsh Revenue Authority's website.
If your circumstances give rise to a complex SDLT/WLTT position then we can provide specific advice to you, for an additional fee to be agreed. We will also charge separately in acting as your agent on the preparation and submission of an SDLT or WLTT Return and arranging for payment of the duty.
The fees1 specified in this table are all exclusive of VAT and disbursements.
Property value |
TLT fees |
Land Registry Fees |
Up to £200,000 |
£2,300 |
£20-£100 |
£200,001 - £400,000 |
£2,500 |
£150 |
£400,001 - £500,000 |
£2,900 |
£150 |
£500,001 - £600,000 |
(Price - £500,000) x 0.15% + £3,000 |
£295 |
£600,001 - £700,000 |
(Price - £600,000) x 0.15% + £3,200 |
£295 |
£700,001- £800,000 |
(Price - £700,000) x 0.15% + £3,400 |
£295 |
£800,001 - £900,000 |
(Price - £800,000) x 0.15% + £3,600 |
£295 |
£900,001 - £1,000,000 |
(Price - £900,000) x 0.15% + £3,800 |
£295 |
£1,000,000 - £2,000,000 |
(Price - £1,000,000) x 0.05% + £4,100 |
£500 |
£2,000,001 - £3,000,000 |
(Price - £2,000,000) x 0.05% + £4,600 |
£500 |
Above this – fixed fee estimate as agreed with you or hourly rates subject to a minimum fee of £5,100 |
£500 |
1.Discounts to our published fees may be available by agreement where we can resource work at a more junior level and/or from one of our regional offices. |
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Table of Supplemental fees |
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The fees specified in this table are all exclusive of VAT and disbursements. |
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Description |
£ |
|
Fee for remitting money by telegraphic transfer |
25 |
|
Supplement where buyer is obtaining a mortgage |
||
TLT to act for mortgagee |
400 |
|
Mortgagee to be separately represented |
700 |
|
Supplement for SDLT / WLTT Return (assuming straightforward and no advice in relation to any surcharges or reliefs required) |
300 |
|
Supplement for dealing with licence to assign where there is a requirement for landlord's consent to assignment of the lease |
750 |
|
Supplement where new lease being granted |
||
First review and set of amendments |
300 |
|
Each additional set of amendments |
100 |
|
Supplement where lease is defective and a deed of variation is required |
500 |
|
Supplement where lease requires a deed of covenant |
150 |
|
Supplement where title is subject to a Restriction that needs to be satisfied or removed on completion |
200 |
|
Supplement for new builds |
500 |
|
Supplement for a first registration of unregistered land at the Land Registry |
500 |
|
Supplement where an indemnity insurance policy is required |
200 |
|
Supplement for any gift element or other third party contributions to the purchase price |
300 |
|
Supplement for review of an existing tenancy agreement where property is let (per agreement) |
100 |
|
Supplement for advice on rectifying non-compliance with pre-letting requirements and tenancy deposits where property is let |
500 |
|
Supplement for review of licence where property is a licensed House in Multiple Occupation (HMO) |
200 |
|
Supplements where buyer is a corporate entity |
||
Companies House review |
125 |
|
Review of board minutes/resolutions |
150 |
|
Preparation of board minutes/resolutions |
250 |
|
Review of Director loan requirements and loan agreements |
500 |
|
Obtaining letters of non-crystallisation from other lenders (per lender) |
200 |
|
Obtaining deeds of release from other lenders (per deed) |
200 |
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