Get in touch: Shaftesbury: 01747 440448 | Sherborne: 01935 817736 | Gillingham: 01747 822103

Leasehold Residential Purchase

Conveyancing fees and disbursements for a leasehold residential purchase at £100,000*

  • Legal fees £850
  • Search fees £275
  • HM Land Registry fee £40.00
  • Electronic money transfer admin. fee £30.00
  • VAT payable £176
  • Estimated total  £1371

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. 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 the specific fees upon receipt and review of the lease from the seller’s solicitors. 

Anticipated Disbursements

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £30 and £100 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 £30 and £100 plus VAT 
  • 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 £30 and £175 plus VAT 
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £30 and £175 plus VAT 

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.

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 web calculator at  https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Stages of the process

The precise stages involved in the purchase of a residential leasehold 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 
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer
  • Send final contract to you for signature
  • Draft Transfer 
  • Advise you on joint ownership
  • Obtain pre-completion searches 
  • Agree completion date (date from which you 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 estimates as set out assumes that: 

a.this is a standard transaction of an existing freehold or leasehold property registered at Land Registry which is to be used as  a main residence (not an investment purchase) 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

b.the transaction is concluded in a timely manner and no unforeseen complication arise and the matter is not urgent or does not become urgent during the process

c.all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

d.no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

The follow types of property or transaction would require a bespoke estimate to be provided, so will not fall within the range of costs provided above. This list is not exhaustive:

  • new build 
  • first registration of title
  • buy to let or second/holiday home 
  • multiple owners or trust property
  • shared ownership s
  • using a help to buy scheme,  whether it is an equity loan or ISA
  • purchase under right to buy 
  • purchase at auction 
  • property has multiple titles or additional land 
  • property has been repossessed

Mortgage lender has additional requirements or is not CML regulated