Sale of a Leasehold Residential Property
Sale of a Leasehold Residential Property Cost Information Type of Cost Cost (£) VAT if applicable (£)* We anticipate it will take between 5 and 7 hours work with hourly rates between £185 – £315 […]
Residential Conveyancing
Sale of a Leasehold Residential Property
Cost Information
| Type of Cost | Cost (£) | VAT if applicable (£)* |
|---|---|---|
| We anticipate it will take between 5 and 7 hours work with hourly rates between £185 – £315 per hour depending on the legal expert used | 1,425.00 – 3,100.00 | 285.00 – 620.00 |
| Disbursements Electronic ID fee (per person) | 15.00 | 3.00 |
| Office Copies (per title) | 12.00 | 2.40 |
| LawyerCheck Search | 20.00 | 4.00 |
| Electronic Money Transfer Fee (TT) | 50.00 | 10.00 |
| Indemnity policies | Varies | N/A |
| Estimated Legal Fees Total Cost | 1,425.00 – 3,100.00 | 285.00 – 620.00 |
| Estimated Disbursements Total Cost | Varies | |
| Estimated Overall Cost | 1,425.00 – 3,100.00 + Disbursements + VAT | 304.40 – 639.40 |
*VAT is charged at 20% on Services and Disbursements.
Service Information
| Key Stages of Process | Time Spent on Each Stage |
|---|---|
| 1. Take your instructions and give you initial advice. | 30-60 mins |
| 2. Take details of lender and make contact. | 20 mins |
| 3. Order title for Land Registry and draft Contract. | 30-45 mins |
| 4. Prepare and send out Property Information Forms / Leasehold Information Form / Fixtures and Fittings for completion. | 10 mins |
| 5. Contact Landlord / managing agent for freehold information pack. | 10 mins |
| 6. Checking Property Information Form / Leasehold Information Form / Management Pack on return and submitting to buyers solicitors. | 20 – 30 mins |
| 7. Dealing with additional enquiries from buyers solicitors. | 30-90 mins |
| 8. Obtaining planning / building regulation / NHBC warranty information. | 30-60 mins |
| 9. Receiving Transfer and approval. | 20-45 mins |
| 10. Go through Contract and Transfer papers with you. | 30-45 mins |
| 11.Contacting lender for redemption statements and proceedures. | 20 mins |
| 12. Agree completion date. | 10-60 mins |
| 13. Exchange contracts and notify you that this has happened. | 30 – 90 mins |
| 14. Arrange for all monies needed to be sent to the lender and to you on completion. | 30 – 60 mins |
| 15. Deal with Landlord/managing agents obligations for sellers. | 30 mins |
| 15. Complete Sale. | 20 – 60 mins |
| Any services not included in the price that we might reasonably be expected to pay for | Estimated Cost (£) | VAT if applicable (£)* |
|---|---|---|
| If you are acting using a Power of Attorney | 150.00 | 30.00 |
| If we need to prepare a general Power of Attorney | 150.00 | 30.00 |
| If you need a simultaneous exchange and completion | 150.00 | 30.00 |
| Approving or arranging an indemnity insurance policy (per policy) | 60.00 | 12.00 |
| Dealing with an unregistered title | 250.00 | 50.00 |
| Preparation and completion of a Deed of Covenant | 75.00 | 15.00 |
| Voluntary first registration for a sale | 500.00 | 100.00 |
| Dealing with third party lawyers (eg on a matrimonial sale) | 500.00 | 100.00 |
| Removal of registered cautions/restrictions/charges | 150.00 | 30.00 |
| Where there is a separate leasehold garage | 200.00 | 40.00 |
| Dealing with a second lender | 145.00 | 29.00 |
| Transfer of Legal Aid charge or other current loan | 195.00 | 39.00 |
| Preparation of a statutory declartion where the title is defective | 125.00 | 25.00 |
| Preparation of a Deed of Variation to a Lease | 300.00 – 500.00 | 60.00 – 100.00 |
| Preparation of a Deed of Easement | 200.00 | 40.00 |
| Where your lender has separate solicitors | 500.00 | 100.00 |
| Dealing with retention of funds | 200.00 | 40.00 |
| Advice, negotiation and drafting of lockout agreements | Hourly rate | 20% of hourly rate |
| Charges levied by freeholder / management company for information pack | 300.00 – 500.00 | 60.00 – 100.00 |
*VAT is charged at 20% on Services and Disbursements.
Legal Terminology and Definitions
Disbursements – Costs related to your matter that are payable to third parties, such as the council fee. We handle the payment of the disbursements on your behalf to ensure a smoother process.
