Sale of a Leasehold Residential Property
Our fees cover all the work required to complete the sale, including dealing with Land Registry and redeeming any mortgages.
Fees:
Legal fees: £850.00 - £1,200.00 plus VAT
We offer fixed fee conveyancing. The fees are applicable to property up to the value of £1,000,000.00. Property above this value will be charged at 0.1% of the sale price
An additional cost added to the fees will be the electronic money transfer fee: £42.00 including VAT
Disbursements
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There are Disbursement unique to Leasehold property that may be applicable. These fees vary from property to property and can on occasion be significantly more than the ranges given below.
We can give you an accurate figure once we have sight of your specific documents. They are set out below:
Additional Conveyancer’s fee: £210.00 including VAT
Managing agents/Freeholder pack: Often the fee is between £200.00 - £500.00.
Certificate of Compliance fee: To be confirmed upon receipt of the lease, as can range between £100.00 - £200.00.
Our fees and some of our expenses are subject to VAT (currently 20%)
How long will my leasehold sale take?
How long it will take from your offer being accepted until you can move out will depend on a number of 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 buyer is a first time buyer, purchasing a new build property with a mortgage in principle, it could take 12 weeks. However, if your buyer is buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
Who will deal with you case?
Matters of this nature are usually dealt with our Zoheb Chaudhry or Tasneem Raza.