- Bromley020 8290 0333
Our Prices - Leasehold
Purchase of a Leasehold residential property
Our fees cover all of the work that is 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.
Please note the total estimated cost does not include stamp duty tax.
Referral Fee (if any)
If applicable Judge & Priestley will pay the fee of up to £250.00 for a referral made by an approved third party
Anticipated Disbursements
Notice of Transfer Fee - often this fee if chargeable is set out in the lease. Often this is between £50.00 to £150.00 + VAT.
Notice of Charge Fee (if the property is to be mortgaged) - often this fee is set out in the lease and is between £50.00 to £150.00 + VAT.
Deed of Covenant Fee - this fee is provided by the management company or landlord for the property and can be difficult to estimate. Often it is between £50.00 to £150.00 + VAT.
Licence to Assign Fee - this is an agreement between a landlord and a tenant where the tenant wants to assign or transfer their obligations under a lease to another party. Often this can be £150.00 to £400.00 + VAT.
Please note that 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 charges are likely to apply throughout your ownership of the property. Once we have received this information we will confirm these charges to you.
Important Information ****
Our legal fee quoted above is for us to carry out the legal work for your Purchase. The additional costs detailed above however are those we have to pay to other organisations and are essential to the conveyancing process. These additional costs are estimates and may vary depending on the location of your property. We handle the payment of these disbursements on your behalf to ensure a smoother process.
Search Pack – this includes the cost of official local, drainage and water and environmental searches for properties purchased within the LB Bromley.
Bank Transfer Fee – this represents the cost of one bank transfer only.
Stamp Duty Land Tax Calculation – this depends on the purchase price of your property. You can calculate the amount you will need to pay by using https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
Land Registry Fees, AP1 - these are the fees for a standard conveyancing transaction where we are able to upload the application via the Land Registry’s online portal. The Land Registry may however charge a higher fee for certain types of application. We will be able to clarify if this may be applicable once we have further specific information about the Property.
Unregistered land - most houses are now registered at the Land Registry, however, if a property is unregistered additional work will be involved which may incur a further charge.
How long will your purchase take?
How long it will take for your purchase to be finalised, so you can move in to your new property will depend on a number of factors. On average, for a straight forward matter, we would expect the purchase process to take between 10 to 12 weeks, from the date that we receive the draft paperwork from the seller’s solicitor. It can be quicker or slower, depending on the parties in the chain.
Sale of a Leasehold residential property
Referral Fee (if any)
If applicable Judge & Priestley will pay the fee of up to £250.00 for a referral made by an approved third party
Bank Transfer Fee – this represents the cost of one bank transfer only.
Important Information ****
Our legal fee quoted above is for us to carry out the legal work for your Sale. The additional costs detailed above however are those we have to pay to other organisations and are essential to the conveyancing process. These additional costs are estimates and may vary depending on the location of your property and the charge made by a landlord or freeholder for providing information where the property is leasehold. We will let you know if these costs, for exceed the ones set out above.
Leasehold Management Pack - the estimated cost of the information provided by the Landlord or Managing Agent. This fee differs depending on the particular Landlord or Agent.
Unregistered land - most houses are now registered at the Land Registry, however, if a property is unregistered additional work will be involved which may incur a further charge.
How long will your sale take?
How long it will take for your sale to be finalised, will depend on a number of factors. On average, for a straight forward matter, we would expect the sale process to take between 10 to 12 weeks, from the date that we receive all the completed property forms from you, the client. It can be quicker or slower, depending on the parties in the chain.
Who will carry out this work for you?
Any conveyancing work conducted on your behalf, will be carried out by suitably qualified legal staff from our respected and specialist Residential Property team. The team is led by partner Madelaine Henwood. To view profiles of the partners, solicitors and other legally qualified individuals in the team, please click here.
