Sale of a Leasehold Flat or house

Property Price Range Estimated Fee VAT Total
0 to 100,000 875 175 1.050
100,001 to 150,000 925 185 1,110
150,001 to 200,000 1,000 200 1,200
200,001 to 250,000 1,050 210 1,260
250,001 to 300,000 1,150 230 1,380
300,001 to 350,000 1,225 245 1,470
350,001 to 400,000 1,250 250 1,500
400,001 to 450,000 1,315 263 1,578
450,001 to 500,000 1,375 275 1,650
500,001 to 600,000 1,415 283 1,698
600,001 to 700,000 1,515 303 1,818
700,001 to 800,000 1,615 323 1,938
800,001 to 900,000 1,715 343 2,058
900,001 to 1,000,000 1,815 363 2,178

Our fees cover all of the work required to complete the sale of your property and if you have one the repayment of your mortgage. In addition there are other expenses (called disbursements) that you may have to pay.

Disbursements are costs, such as Land Registry and any other expenses, 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. The disbursements which we anticipate will apply are set out separately below.

 

Usual disbursements on a sale are:-

  • Land Registry fee: usually £10 or less.
  • Bankruptcy search: £2 per person.
  • Fees payable to the landlord or management company for providing information: typically vary from £100 to £280

 

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.

There will be a charge of £30 (including VAT) for each electronic money transfer fee. Usually, on a sale it will be necessary to repay your mortgage by this method. There would be a second charge if you wish the net proceeds of sale to be paid to you this way rather than by cheque.

 

Selling a flat for £150,000

Legal fee 925
VAT on Legal fee 185
Land Registry 20
Bank charges 25
VAT on Bank charges 5
Management Company 200
Total 1,360

 

 

How long it will take from your accepting an offer until you hand over the keys will depend on a number of factors. The average process for the sale of a leasehold takes between 10-14 weeks. It can be quicker or slower, depending on the parties in the chain.

 

 

 

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below some of the ket stages are mentioned:

  • Take your instructions and give you initial advice
  • Ask you to complete propert information forms
  • Prepare and send then contract documents to the buyer’s conveyancer
  • Reply to buyer’s enquiries
  • See you to sign the final contract and Transfer
  • Agree completion date (date that you are to hand over the keys for the property)
  • Exchange contracts and notify you that this has happened
  • Obtain arepayment figure from your Lender
  • Complete sale
  • Repay your mortgage

 

* 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. your property is registered at the Land Registry. If not, additional charges will apply.