Purchase of a Leasehold Flat or House

Property Price Range Estimated Fee VAT Total
0 to 100,000 775 155 930
100,001 to 150,000 825 165 990
150,001 to 200,000 900 180 1,080
200,001 to 250,000 950 190 1,140
250,001 to 300,000 1,050 210 1,260
300,001 to 350,000 1,125 225 1,350
350,001 to 400,000 1,150 230 1,380
400,001 to 450,000 1,215 243 1,458
450,001 to 500,000 1,275 255 1,530
500,001 to 600,000 1,315 263 1,578
600,001 to 700,000 1,415 283 1,698
700,001 to 800,000 1,515 303 1,818
800,001 to 900,000 1,615 323 1,938
900,001 to 1,000,000 1,715 343 2,058

Our fees cover all of the work required to complete the purchase of your new home, including registration at the Land Registry and 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.

In addition there are other expenses (called disbursements) that you may have to pay

Disbursements are costs, such as search fees, related to your case that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. 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 terms of the lease. We will update you on the specific fees upon receipt of the documents from the seller’s conveyancer.

Usual disbursements are:-

Other Anticipated Disbursements for a Leasehold are:-

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 – £150.
  • 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 – £100.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £40 and £150.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £20 – £80.

These fees 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 charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

There will be a charge of £30 (including VAT) for each electronic money transfer fee. Usually, on a purchase only one fee is charged for tranferring the purchase money to the seller’s conveyancer.

Buying a flat for £140,000

Our fee 825
VAT 165
Our fee for acting for your Lender 110
VAT on Mortgage fee 22
Searches 350
Land Registry 95
Bank charges 25
VAT on Bank charges 5
Sub-total 1,597

To the above may need to be added charges that can be payable to the Landlord if required by the terms of the Lease (eg. Notice of Transfer fee, Notice of Charge fee, Deed of Covenant fee, Certificate of Compliance fee)

Then add:-

Stamp Duty or 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 here. Click below to see how much tax you have to pay –

SDLT Rates or if the property is in Wales: Welsh Land Tax

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8-12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 4 months. In such, a situation additional charges would apply.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s conveyancer
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • See you to sign the final contract
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • Agree completion date (the date from which you will own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Deal with application for registration at Land Registry

* Our fee assumes that:

  1. 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
  2. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complication arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
  6. the seller’s property is already registered at the Land Registry. If not, additional charges will apply.