SELLING COSTS OF A LEASEHOLD RESIDENTIAL PROPERTY EXPLAINED

Our fees cover all of the work* required to complete the sale of your leasehold property.

Conveyancer’s fees and disbursements

Below is a range of the fees and disbursements that we may typically charge for a leasehold sale:

  • Legal fees: £650 to £1,700* plus VAT (depending upon the value of the property, the complexity of the case and the office used)
  • Electronic money transfer fee: £30 plus VAT
  • VAT payable: between £136 and £346
  • Estimated total: between a subtotal of £816 and £2,076

Disbursements

These 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.
You will have to pay:

  • Freehold Office Copy Entries: £6.00
  • Leasehold Office Copy Entries: £6.00
  • Official Copy Lease: £3.00

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 the lease. We will update you on the specific fees upon receipt and review of the lease once downloaded from the Land Registry or provided by you.

Leasehold Anticipated Disbursements*

  • Management Pack (Replies to Leasehold Enquiries (LPE1)) fee: to be confirmed upon receipt of correspondence from the Landlord/Management Company, as can range between £150 and £250

*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. Please note that these fees are not charged by us but by the Landlord or Managing Agents of the leasehold property.

Below is a specific example of a sale quotation for the sale of a leasehold property for £200,000 with a mortgage to redeem, and dealing with our Coventry office:

Leasehold Sale at: £200,000.00
Telegraphic Transfer Fee plus vat £30.00
Land Registry Title Deeds & copy lease £15.00
Legal Fees plus vat £725.00
Total Cost £770.00
Plus VAT £151.00
Total including VAT £921.00

There will also be the following additional disbursements to consider (charged by the Landlord/Managing Agents):

LEASEHOLD EXAMPLE DISBURSEMENTS:
REPLIES TO LEASEHOLD ENQUIRIES £150.00
Total example disbursements £150.00

*Our fees above assume that:

  1. it 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. this is the assignment of an existing lease and is not the grant of a new lease
  3. the transaction is concluded in a timely manner and no unforeseen complications arise
  4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  5. no indemnity policies are required (additional disbursements may apply if indemnity policies are required)
  • the legal fees for properties worth in excess of £1m are to be determined on a case by case basis and you will need to call our offices for a quotation
  • we will always supply you with a quotation and agree a fee with you before commencing work
  • if additional fees are to be charged details will be provided if and when they arise and we will agree any additional legal fees with you first

Please call our offices for a Conveyancing quote on 0800 158 5592