Purchasing a Leasehold Property

Purchasing a Leasehold 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 is in Wales.

What Sets Us Apart
Here at Dutton Gregory, our experience speaks for itself. With over 250 years of combined knowledge between them, our Residential teams pride themselves on client care and quality service, paving the way for you to fully enjoy the excitement of purchasing your new home.
Our Services:
  • Are always overseen by a qualified solicitor, keeping you in safe hands.
  • Have been established  since the 1800’s, with solid local knowledge and an excellent reputation.
  • Remain direct and personal for you. No call centres, just easily contactable, friendly faces, on the phone or in person.
  • Have you in mind, with a true belief in training, and a focus on staff development across all levels, from Assistant to Partner, ensuring you receive the highest possible service year on year.
For more information on our Residential Teams, including qualifications and experience of individual staff members, please click here.

To receive a fully personalised quote, please complete our How Can We Help form to the right of this page, call 01202 315005 or email contact@duttongregory.co.uk

Professional Conveyancing Fees

Cost of Property

Average Conveyancing Fee

Up to £300,000

£1050 + VAT

£300,000 - £350,000

£1100 + VAT

£350,000 - £400,000

£1150 + VAT

£400,000 - £450,000

£1200 + VAT

£450,000 - £500,000

£1300 + VAT

£500,000 - £600,000

£1400 + VAT

£600,000 - £800,000

£1600 + VAT

£800,000 - £1,000,000

£1800 + VAT

£1,000,000+

£1850 + VAT

 

Breakdown of costs not included in the above:

  • ID Check £25.00 + VAT (if we act for you on a sale and a purchase we will only charge this once)
  • SDLT Admin Fee £50.00 + VAT
  • Conveyancing Searches £220.00 + VAT
  • Obtaining Official Copy of Title Deed £30 + VAT
  • Same-Day Bank Transfer Fee (CHAPS) £35.00 + VAT
  • Land Registry and Bankruptcy Searches £10.00 + VAT

Subtotal of costs not included in our Conveyancing Fee: £360 + VAT


Disbursements / Third Party

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.

If required, these costs are not included in our Conveyancing Fee.

  • Chancel Indemnity (up to £3million of cover) £5.03
  • Land Registry Fee (average cost, dependant on purchase price)
  • Digital signing of documents £4.58 + VAT
  • Agent Commission (costs agreed by client directly)
  • Mortgage Redemption (dependant on property)
  • Notice fees to pay Freeholder or Managing Agent £50-200 + VAT (prices may vary)
  • Stamp Duty Land Tax – This depends on the purchase price of your property, and whether you own or have an interest in another. You can calculate the amount you will need to pay by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website here.

Example of Estimated Total*

For example, if you are looking to purchase a £195,000 property, the estimated total (including required disbursements/third party) would be around: £1530.03 + VAT.


*There are a range of factors that could increase the cost of our service. For example;

  • If legal title is defective or part of the property is unregistered.
  • If we discover building regulations or planning permission has not been obtained.
  • If crucial documents we have requested from you or a third party have not been provided.
  • Referral fees
  • New Build properties / developer engrossment fees
  • SDLT surcharges.
  • In the event that we are instructed to deal with a Mortgage – this is around £125.00 + VAT (average fee, dependant on lenders requirements).
  • If we need to obtain Indemnity Insurance Policy (if required) £30 + VAT (Policy premium paid by client and varies based on purchase price).
  • Any existing lease requires amendment
  • Help to Buy Equity Loan

Anticipated Disbursements**
  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50-200 + 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 £50-200 + VAT
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease.

**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.


To receive a fully personalised quote, please complete our How Can We Help form to the right of this page, call 01202 315005 or email contact@duttongregory.co.uk

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. If you are buying a leasehold property this could take 10-12 weeks, but if the property requires an extension of the lease, or other amendments, this can take significantly longer, between 12-16 weeks. In such, a situation additional charges would apply.


Stages of the process

The precise stages involved in the purchase of a leasehold residential property vary according to the circumstances. However, below we have suggested some common key stages:

  1. Take your instructions and give you initial advice
  2. Check finances are in place to fund purchase and contact lenders if needed
  3. Receive and advise on contract documents
  4. Carry out searches
  5. Obtain further planning documentation if required
  6. Make any necessary enquiries of seller's solicitor
  7. Give you advice on all documents and information received
  8. Go through conditions of mortgage offer with you
  9. Advise on joint ownership
  10. Send final contract to you for signature
  11. Agree completion date (date from which you own the property)
  12. Finalise and agree financial statements
  13. Exchange contracts
  14. Arrange for all monies needed to be received from lender and you
  15. Obtain pre-completion searches
  16. Complete purchase
  17. Deal with payment of Stamp Duty Land Tax
  18. Deal with serving Notices on freeholder/managing agent and dealing with service charge/ground rent apportionments
  19. Deal with application for registration at Land Registry
  20. Once registered at Land Registry we will send details to you and any lender

To receive a fully personalised quote, please complete our How Can We Help form to the right of this page, call 01202 315005 or email contact@duttongregory.co.uk

Please be aware that our pricing is subject to revision.