Purchase of a leasehold residential property

Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements:

Legal fee (inc VAT) dependant on purchase price:
Up to £80,000:  £756.00

£80,001 – £125,000:  £792.00

£125,001-£250,000:   £840.00

£250,001-£350,000:  £1008.00

£350,001-£500,000:  £1116.00

£500,001-£1,000,000: £1740.00

Electronic money transfer fee: £24.00
SDLT return form fee: £24.00
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.

Stamp Duty or Land Tax (on purchase)

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 in Wales by using the Welsh Revenue Authority’s website.

HM Land Registry fee (on purchase)

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMLR’s website.

Search fees

This depends on the location of your property and the requirements of your mortgage lender (if any). The total costs of a Local Authority Search, Water and Drainage Search and a Mining Search for the Wakefield Metropolitan District Council area is £146.68.

Anticipated Disbursements*

Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 – £200.00 .
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 – £200.00.
Deed of Covenant fee – Often it is between £50.00 to £200.00.
Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50.00 and £200.00.
*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.

How long will my transaction take?

How long it will take from your offer being accepted until you can move in to your house will depend on several 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 4 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3-6 months. In such, a situation additional charges would apply.

Stages of the process

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 solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Send final contract to you for signature
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