Fees – Sale of a Leasehold Property

Our fees cover all of the work* required to complete the sale of your home, including the repayment of your mortgage if you have one and paying any agent’s fees.

Conveyancer’s fees and disbursements

Property Price	Fee Estimate	VAT	Total
Up to £100,000	£1100	£220	£1320
£100,001 to £150,000	£1200	£240	£1440
£150,001 to £200,000	£1300	£260	£1560
£200,001 to £250,000	£1350	£270	£1620
£250,001 to £300,000	£1450	£290	£1740
£300,001 to £350,000	£1550	£310	£1860
£350,001 to £400,000	£1575	£315	£1890
£400,001 to £450,000	£1700	£340	£2040
£450,001 to £500,000	£1800	£360	£2160
£500,001 to £600,000	£1900	£380	£2280
£600,001 to £700,000	£2000	£400	£2400
£700,001 to £800,000	£2150	£430	£2580
£800,001 to £900,000	£2350	£470	£2820
£900,001 to £1,000,000	£2500	£500	£3000
Over £1,000,000	Price on Application

 

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees.  We handle the payment of the disbursements on your behalf to ensure a smoother process.  The usual disbursements incurred on a sale are:

• Land Registry Search Fees £10 approx (including VAT)
• Electronic Money Transfer Fee £48 (including VAT)
• Landlord/Management Company’s fees between £250 – £500 (including VAT)

Total Estimated Disbursements:
£178 (based on the Landlord’s Management fee being £120)

Here is an example of the costs of sale at £250,000:

• Legal Fee £1620 (including VAT)
• Land Registry Search Fees £10 approx (including VAT)
• Electronic Money Transfer Fee £48 (including VAT)
• Landlord/Management Company’s fees £250 (including VAT)

Estimated total Fees and Disbursements: £1928

 

How long will my house sale take?

How long it will take from a sale being agreed until completion of your sale will depend on a number of factors.  The average process takes between 8 and 14 weeks.

It can be quicker or slower, depending on the number and approach of the parties in the chain. For example, if you are selling your property to a first time buyer with a mortgage agreed in principle and you have no related purchase, it could take 6 – 8 weeks.

However, if you are selling a leasehold property and there is a lengthy chain, this can be significantly longer, between 3 and 5 months.

Stages of the process

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

• We will collect from you all relevant papers for the property including copy title documents and completed Property Information forms to enable us to prepare the sale contract
• We will prepare the Sale Contract and send it to your buyer’s solicitor with all supporting documentation.
• We will obtain an up to date redemption statement (to tell us how much is owing) from your mortgage lender to ensure that there are no expected further redemption charges, etc. and we will supply you with a copy of this.
• We will deal with enquiries raised on behalf of your buyer.
• We will deal with the Information Pack received from the Landlord or Management Company. This will include up to date insurance documents, service charge accounts and details of any disputes, etc and varies from property to property.
• We will advise you on the Sale Contract and, when you are ready to do so, exchange contracts, at which stage you are irrevocably committed to the sale.
• We will then deal with pre completion matters including obtaining a redemption figure from your mortgage company (if appropriate) and approving the Transfer Deed (to transfer the property into your buyer’s name) and prepare a final completion statement.
• We will complete your sale and upon completion deal with the formalities of discharging any mortgage on the property and reporting to you.

*   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. the transaction is concluded in a timely manner and no unforeseen complications arise.
3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
4. no indemnity policies are required.Additional disbursements may apply if indemnity policies are required.
5. your title is already registered at the Land Registry.  If not, then there will be additional costs.