If you are facing an investigation by the tax authorities, your very first step should be to seek professional advice. One taxpayer who sadly chose not to take that course,...Continue reading
Thank you for looking at our property services. Whether you are a first-time buyer or a property portfolio owner, we are here to take the stress out of buying and selling a leasehold property.
We will guide you through each step of your transaction, tailoring our service to fit your requirements, so you can have complete peace of mind that every detail has been properly handled. Where necessary, we can also recommend other professionals such as Surveyors, IFA’s and property valuers, and other property related businesses and trades, giving you access to all the expertise you need.
At a time where money really matters, we take care to provide a high quality, value-for-money service you can rely on. We will keep you regularly advised of every detail you need to know so you can make informed decisions and conclude your leasehold property transaction promptly and with the minimum possible stress and hassle.
We have an experienced team who understand the intricacies of property transactions and the stress involved in buying your property. Our approach is simple – we provide a first-class service from our expert team who will understand your needs and make the difference by interacting with all relevant parties, taking the stress away from you and progressing the matter quickly.
We know that communication is key, especially when dealing with the complex issues that can sometimes be involved in the purchase of a leasehold property. Our team are made up of qualified and experienced Solicitors and Licenced Conveyancers who have the legal and technical “know how” to resolve issues as they arise in a professional and efficient manner, but also have the people skills to ensure you are kept informed of everything you need to know in plain English.
You will have the confidence that you are our priority, with our aim being that a member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have.
We realise that a property purchase may well be the biggest investment of your life and we not only want to provide the first-class service you deserve, but also real value for money with no hidden fees.
We are proud to hold CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care.
We know how important cost is when deciding who to use for conveyancing, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.
We typically work on a fixed fee basis, so that from the outset you know what the fees and costs will be for your transaction. If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward.
Our fees are set out as:
Leasehold Residential Property
Our fees cover all the standard work required to complete the purchase of your new property, including dealing with registration at the Land Registry and 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 is in Wales
Electronic money transfer fee(per transfer)45954
|Conveyancing Fees* (for price upto £750,000)||950||190||1140|
|Fee for acting on behalf of the mortgage lender||175||35||210|
|HMLR Search & Documents fees||75||15||90|
|Fee for filing SDLT Return||100||20||120|
|Additional Leasehold Fee||250||50||300|
Note: if the lender is not standard bank/building society, but specialist lenders, the fee for Acting for Lender will be £250 + vat (instead of £175 + vat)
* please contact us for our conveyancing fee if value of property is higher than £750,000, as we have a different pricing structure for higher value property. All other fees will remain the same irrespective of value of property
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 will only charge you the actual amount we pay out to third parties and there will be no additional charge on it.
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 specific fees upon receipt and review of the lease and management information from the seller’s solicitors.
|HM Land Registry Fee||As per HMLR Fee table based on price|
|Search Fees||Approx £350, but vary depending on location , lender and type of searches reuqired|
For land registry fees please see : https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
|Item||Range from||Range to||Plus VAT|
|Notice of Transfer fee, this fee if chargeable is set out in the lease. Often the fee is: between £50 to £90 + 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 £50 to £90 + vat|
|Deed of Covenant fee, this fee is provided by the management company for the property and can be difficult to estimate. Often the fee is: between £150 to £300 plus vat, but can be more or less.|
|Certificate of Compliance fee – to be confirm upon receipt of the lease, as the range can be between £100 to £300|
* These fees vary from property to property and can on occasions 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.
Stamp Duty Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.
The estimated Grand Total of the transaction will be confirmed in your client care documents
We do not undertake tax advice.
Our fees are fixed however, there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If the property is a new build
- If any indemnity insurance is required
- If you require to exchange within 6 weeks of instructing us
- If you require completion within 6 weeks of instructing us
- If additional statutory declarations or other documents specific to your transaction is required.
- A list of additional fees will be sent to you along with your client care documentation.
For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved. The average process takes between 6 to 8 weeks. It can be quicker or slower, depending on the parties in the chain. For example, purchase of a registered title with no changes to property and with mortgage agreed in principle could take 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 6 months or more. In such, a situation additional charges would apply.
Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise, including (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
With every transaction, there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and giving you initial advice
- Checking finances are in place to fund the purchase and contacting lender’s solicitors if needed
- Receiving and advising on contract documents
- Carrying out searches
- Obtaining further planning documentation if required
- Making any necessary enquiries of seller’s solicitor
- Giving you advice on all documents and information received
- Going through the conditions of your mortgage offer
- Sending the final contract to you for signature
- Draft Transfer
- Advising you on joint ownership
- Obtaining pre-completion searches
- Agreeing a completion date (the date from which you own the property)
- Exchanging contracts and notifying you that this has happened
- Arranging for all monies needed to be received from lender and you
- Completing purchase
- Dealing with payment of Stamp Duty/Land Tax
- Dealing with application for registration at Land Registry