Ilkley Office
27 Riddings Road, Ilkley, LS29 9LX
Purchase of a leasehold residential property
Purchase of a leasehold residential property pricing
Transparency is key
Our fees cover all of the work required to complete the purchase of your new home
| PURCHASE PRICE | OUR FEE |
|---|---|
| Up to £100,000 | £995 + 20% VAT £199 |
| Up to £200,000 | £1,045 + 20% VAT £209 |
| Up to £300,000 | £1,095 + 20% VAT £219 |
| Up to £400,000 | £1,195 + 20% VAT £239 |
| Up to £500,000 | £1,345 + 20% VAT £269 |
| Up to £600,000 | £1,600 + 20% VAT £320 |
| Up to £700,000 | £1,700 + 20% VAT £340 |
| Up to £800,000 | £1,800 + 20% VAT £360 |
| Up to £900,000 | £1,900 + 20% VAT £380 |
| Up to £1,000,000 | £2,000 + 20% VAT £400 |
| Over £1,000,000 | £2,500 min + 20% VAT £500 |
Our fee assumes that:
- this 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
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Additional Charges
No two properties are exactly the same and no two clients are exactly the same. Our conveyancing fees will reflect the particular requirements of your sale and/or purchase. For example, the conveyancing cost of dealing with a leasehold property may, because of the added complexities, be more than dealing with a more straightforward, freehold property. We may add an additional charge to reflect the extra work this will involve.
| ADDITIONAL CHARGES | COST |
|---|---|
| Leasehold | £300.00 + 20% VAT £60 |
| New Build or Shared Ownership | £500.00 + 20% VAT £100 |
| Help to Buy ISA | £150.00 each + 20% VAT £30 |
| Mortgage Work when acting in a Company purchase | £400.00 + 20% VAT £80 |
| Declaration of Trust | £300.00 + 20% VAT £60 |
| SDLT Preparation & Submission Fee | £50.00 + 20% VAT £10 |
| HTB Equity Mortgages | £450.00 + 20% VAT £90 |
For all legal needs, please speak to our friendly, professional team
| DISBURSEMENTS | PRICE |
|---|---|
| Residential Search Pack | £258.06 inc. 20% VAT £43.01 |
| Official Copies of Land Registry documents | £10.20 inc.20 % VAT £1.70 |
| OS1 Search | £10.20 inc.20 % VAT £1.70 |
| Bankruptcy Search | £9.00 inc.20 % VAT £1.50 |
| Same Day Bank Transfer Fee | £48.00 inc.20 % VAT £8.00 |
| Lawyer Checker Fee | £21.60 inc.20 % VAT £3.60 |
| Stamp Duty Land Tax | To be advised |
| Land Registry Registration Fee | To be advised |
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax or if the property is located in Wales by using the Welsh Revenue Authority’s website here: https://beta.gov.wales/land-transaction-tax-calculator
How long will my house purchase take?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 6-8 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 8-12 weeks.
However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances but generally include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete Purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
Contact us
Friendly, knowledgeable and professional team
Our office locations
Get in touch
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1 High Street, Settle, BD24 9EX
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63 Kirkgate, Silsden, Keighley, BD20 0PB
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3 High Street, Skipton, BD23 1AA
Walker Foster Solicitors - Harrogate
First Floor, 7 Victoria Avenue, Harrogate, HG1 1EQ
Walker Foster Solicitors - Northallerton
Century House, Northallerton, DL6 2XQ
