Sale of residential leasehold property

Our property lawyers will guide you through every stage of your transaction, advising you in respect of the legal issues facing you when you purchase your property.

We deal with residential leasehold property of varying sizes and complexities ranging from studios to mansion flats in central London.

You will receive our friendly and personal service, with back-up as required from the rest of our property team to ensure that your matter is dealt with promptly and efficiently.

We take pride in being the first law firm in Buckinghamshire and one of the first law firms in England to be accepted as members of the Law Society Conveyancing Quality Scheme (CQS). This accolade shows that we maintain the highest standards of residential conveyancing.

Fees

Our fees are based on hourly rates which are dependent on the experience and seniority of the fee earner dealing with your work. These are set out below:

Solicitor – £220 plus VAT

Partner – £320 plus VAT

Fee Earners

The members of our property team are:

Our fee earners may be assisted from time to time by paralegals and trainee solicitors. Our supervision policy ensures that all work is appropriately supervised in accordance with the SRA code conduct.

On average, the sale of a leasehold residential property (with no mortgage) involves between 7 to 9 hours’ work at the relevant fee earner’s hourly rate. If there is a mortgage registered against the property, between 1 to 3 hours’ work may be required to discharge the mortgage on completion. Of course, each transaction is unique and varies in complexity and costs can increase depending on whether or not a matter becomes protracted.

We have provided an example below of the likely costs involved in the sale of a property (with no mortgage) for £750,000.00. The example is for illustration purposes only. Please contact one of our fee earners to obtain an estimate specific to your transaction.

Our legal charges :

Approx. £1,540 to £2,880 plus VAT depending on the fee earner handling your transaction.

Likely disbursements:

  • Land Registry official copies – approx. £15.
  • Fee for leasehold information pack – approx. £250 to £450 plus VAT

The above costs are reflective of the following work being carried out on your behalf:

  • Downloading title documentation from the Land Registry; perusing the lease; drafting the contract; obtaining copies of planning documents from the Local Authority and any other documents which are required to produce the contract package.
  • Commissioning the leasehold information pack.
  • Assisting you in completing the standard Protocol forms - Property Information Form, Fittings and Contents Form and Leasehold Information Form. 
  • Dealing with enquiries raised by the buyer’s lawyers and liaising with you to provide solutions to any issues encountered.
  • Reviewing and negotiating the provisions of the transfer deed.
  • Liaising with the buyer’s lawyer and management company in connection with any apportionments due in respect of the ground rent and service charge payable under the terms of the lease and with regard to any retentions which are appropriate.
  • Reporting and advising you on the terms of the contract and transfer deed.
  • Dealing with exchange and completion.

The above estimate is based on the following assumptions:

  • The transaction is straightforward, and no substantial legal issues arise during our investigations.
  • The property is registered at the Land Registry and the transfer relates to the whole of a single registered title.
  • The contract is unconditional and involves only one buyer and one seller.
  • The property is sold with vacant possession.
  • Completion takes place on the completion date and there are no breaches

Time scale

A conveyancing transaction usually takes between 6 – 10 weeks to complete, subject to the length of any chain involved.