Purchase of a freehold property

Generally, we charge on an hourly basis and our hourly rates range from £200 (for a Graduate Member of CILEx) to £475 (for a partner) plus VAT at 20%. We adopt a partner-led approach so your matter will always have some involvement of a senior member of the residential property team. 

No property or property transaction is exactly the same and our fees will reflect the particular requirements of your purchase.

For example, dealing with a mortgage funded purchase of a listed house whereby there are question marks regarding whether renovation works have been undertaken with all of the necessary consents is likely to be more time intensive (and therefore expensive) than the cash purchase of a freehold house where there are no title or planning issues.

Freehold purchase

By way of illustration, our fees for dealing with a cash purchase of a freehold house in London at a price of £2m with no title or planning issues is likely to be in the range of £3,500 to £4,500 plus VAT (at a rate of 20%) and disbursements. 

The following third party costs (i.e. disbursements) will typically be payable:

In addition to the above, SDLT will be payable. You must pay SDLT if you buy a property or land over a certain price in England. In Wales, Land Transaction Tax may be payable. For more information about SDLT, see this link.

Timescales

Using the above illustration, typically, we would expect to be in a position to exchange contracts in around 2-8 weeks from being engaged, depending on a range of factors including: how quickly we are able to complete our client due diligence procedures, the turnaround time for search results and the responsiveness of the seller’s conveyancer. In some circumstances, it may be possible to exchange contracts within a matter of hours of receiving the draft contract and supporting papers (but this is not particularly common).

Assumptions

The above fee estimate assumes the following:

1. That the property is registered with the Land Registry.
2. That our investigations do not reveal any legal issues which must be resolved prior to exchange of contracts.
3. That there are no other unusual problems or complications.
4. We receive clear and timely instructions from you.

If any of these key assumptions are incorrect or change over time, we would provide a revised scope of work, timetable and fee estimate.

Complicated transaction – an example

If we were dealing with a mortgage funded purchase of a freehold house in London at a price of £2m where there has been a breach of restrictive covenant, unauthorised works have been carried out and there are structural issues with the property, we would expect our fees to be in the region of £7,000 to £15,000 plus VAT at 20% and disbursements.

In addition to the disbursements above, you might expect to pay the following:

• Bankruptcy search fees – £2 per person plus VAT at 20%.

• Indemnity insurance fees – circa £300-£1,500 (but this would depend on a variety of factors including the nature of the risk being covered and level of indemnity required).

Stages of the process

The precise stages involved in the purchase of a freehold residential property vary according to the circumstances. However, broadly speaking, our work will involve the following:

1. Approving the contract and if necessary negotiating any required changes with the sellers’ legal advisers. Full review of the legal title to the property, to ensure that the seller is legally entitled to sell the property; and to ensure that there are no onerous covenants or rights which will affect your use and enjoyment of the property; and to ensure that all necessary rights are in place to allow your use of the property for all normal residential purposes. 
2. Carrying out a search with the Local Authority and analysis of the results to ensure amongst other things, that all necessary Planning Permission and Building Regulations approvals are in place; whether the property abuts a publicly maintainable highway; the results of any Tree Preservation Orders, details of any nearby road schemes, details of any proposed compulsory purchase, and whether there are any orders in place that would create further liabilities. 
3. Carrying out further searches in relation to drainage and water supply, environmental history, chancel repair liability and other locally relevant matters. Analysing the search reports to ensure that there are no onerous liabilities attached to the property.
4. Corresponding with the sellers’ solicitor to raise additional enquiries to address the results of our research and searches so that any issues that are revealed are clarified and/or dealt with.
5. Reviewing and commenting as appropriate on your survey. Please note, however, that we are not qualified to comment on any technical concerns relating to the building, its structure or value.
6. Providing you with a written summary of our findings from reviewing the legal title and the search reports. Providing you with the contract for your signature, along with a prepared Stamp Duty Land Tax return for filing with HMRC.
7. Exchanging contracts and carrying out the final pre-completion searches with the Land Registry to ensure that there have been no further amendments to the legal title, and to ensure that you have priority to register your ownership of the property.
8. Preparing the completion statement to show all payments made and received and confirming the balance required in order to complete your purchase.
9. Raising requisitions on title and checking the replies, including undertakings to redeem the sellers’ existing charges.
10. Drafting and agreeing the relevant transfer document.
11. Completing the purchase; submitting a return to HMRC to account for any Stamp Duty Land Tax to be paid; ensuring that any indemnity policies are in place from the date of completion including the indemnity policy to cover potential chancel repair obligations.
12. Registering the transaction with the Land Registry and ensuring that your ownership, and any other pertinent matters are correctly recorded.
13. Forwarding to you a copy of the updated Registers of Title.

The summary above assumes there is no mortgage.

Exclusions

As part of a conveyancing transaction, typically, the following would not be included in the scope of our work:

• Taxation advice.

• Advice or preparation of a Declaration of Trust or similar instrument to govern the details of your co-ownership of the property with anyone else.

If applicable, we will price these and any other requirements separately for you. If necessary, we will, in consultation with you obtain such additional advice as is required from appropriately qualified third parties.

Who will carry out the work

Your work may primarily be carried out by any of the solicitors, trainee solicitors or paralegals in the Residential Property Team and under partner supervision.

Following is a list of hour rates (excluding VAT).

Click here.

Last reviewed: April 2024

Sale of freehold property

Generally, we charge on an hourly basis and our hourly rates range from £200 (for a Graduate Member of CILEx) to £475 (for a partner) plus VAT at 20%. We adopt a partner-led approach so your matter will always have some involvement of a senior member of the residential property team.

No property or property transaction is exactly the same and our fees will reflect the particular requirements of your sale.

For example, dealing with the sale of a listed house whereby there are question marks regarding whether renovation works have been undertaken with all of the necessary consents is likely to be more time intensive (and therefore expensive) than the sale of a freehold house where there are no title or planning issues.

Freehold sale

By way of illustration, our fees for dealing with a sale of a freehold house in London at a price of £2m with no title or planning issues is likely to be in the range of £3,500 to £4,500 plus VAT (at a rate of 20%) and disbursements. 

The following third party costs (i.e. disbursements) will typically be payable:

Timescales

Using the above illustration, typically, we would expect to be in a position to exchange contracts in around 2-8 weeks from being engaged, depending on a range of factors including: how quickly we are able to complete our client due diligence procedures, how quickly you are able to send the completed property information questionnaires and deeds to us; the turnaround time for the buyer’s search results and the responsiveness of the buyer’s conveyancer. In some circumstances, it may be possible to exchange contracts within a matter of hours of dispatching the draft contract and supporting papers (but this is not particularly common).

Assumptions

The above fee estimate assumes the following:

1. That the property is registered with the Land Registry.
2. That our and/or the buyer’s investigations do not reveal any legal issues which must be resolved prior to exchange of contracts.
3. That there are no other unusual problems or complications.
4. We receive clear and timely instructions from you.

If any of these key assumptions are incorrect or change over time, we would provide a revised scope of work, timetable and fee estimate.

Complicated transaction – an example

If we were dealing with the sale of a house in London at a price of £2m where there have been planning breaches and breaches of restrictive covenants, we would expect our fees to be in the region of £7,000 to £10,000 plus VAT and disbursements.

In addition to the disbursements above, you might expect to pay the following:

• Indemnity insurance policy – £300 to £1,500 plus VAT.

Stages of the process

The precise stages involved in the sale of a freehold residential property vary according to the circumstances. However, broadly speaking, our work will involve the following:

1. Liaise with you to complete the Property Information and Fittings and Contents Forms and obtain any supporting documentation.
2. Full review of the title to the property.
3. Draft the contract and TR1 and, if necessary, negotiate any changes requested by the buyer’s legal advisors. Advise you on the terms of the final agreed contract.
4. Communicate with the buyer’s legal advisors and your estate agent at key stages.
5. Answer pre-contract enquiries and liaise with you to obtain supplementary information.
6. Agree the deposit arrangements and notify you of any issues. 
7. Liaise with you to sign the contract and facilitate the process of exchange.
8. Obtain an estate agents account and prepare financial statements.
9. Provide the buyer’s legal advisor with necessary completion information and undertakings. Approve the document dealing with the transfer of legal ownership (form TR1).
10. Liaise with you to sign the form TR1 and any other documents required for completion.
11. Collect completion funds from the buyer’s legal advisors and pay your estate agent’s fee on your behalf.
12. Notify you of completion, and account to you for the balance of the sale proceeds.

Exclusions

As part of a conveyancing transaction, typically, the following would not be included in the scope of our work:

• Taxation advice.
• Rectifying unusual or onerous defects in the leasehold or freehold title.

If applicable, we will price these and any other requirements separately for you. If necessary, we will, in consultation with you obtain such additional advice as is required from appropriately qualified third parties.

Who will carry out the work

Your work may primarily be carried out by any of the solicitors, trainee solicitors or paralegals in the Residential Property Team and under partner supervision. The profiles of the members of the Residential Property Team and their level of experience can be viewed on our website.

Following is our Hourly rates.

Click here.

Mortgage and remortgages

Generally, we charge on an hourly basis and our hourly rates range from £200 (for a Graduate Member of CILEx) to £475 (for a partner) plus VAT at 20%. We adopt a partner-led approach so your matter will always have some involvement of a senior member of the residential property team.

No property or property transaction is exactly the same and our fees will reflect the particular requirements of your sale.

Mortgage and remortgages

By way of illustration, our fees for dealing with the mortgage of a leasehold flat in London valued at £2m with no title or planning issues is likely to be in the range of £1,750 to £2,250 plus VAT (at a rate of 20%) and disbursements. 

Timescales

Using the above illustration, typically, we would expect to be in a position to complete the mortgage or remortgage within 3-6 weeks from being engaged, depending on a range of factors including: how quickly we are able to complete our client due diligence procedures, when we receive the mortgage offer and the turnaround time for search results (if required by the lender). In some circumstances, it may be possible to complete within a matter of hours or days of receiving a mortgage offer.

Assumptions

The above fee estimate assumes the following:

1. That the property is registered with the Land Registry.
2. That our investigations do not reveal any legal issues which must be resolved prior to completion.
3. That there are no other unusual problems or complications.
4. We receive clear and timely instructions from you.
5. Your landlord / managing agent provides timely and full leasehold disclosure.

If any of these key assumptions are incorrect or change over time, we would provide a revised scope of work, timetable and fee estimate.

Complicated transaction – an example

If we were dealing with a mortgage or remortgage where there have been unauthorised alterations and a complex title structure, we would expect our fees to be in the region of £3,000 to £5,000 plus VAT at 20% and disbursements.

In addition to the disbursements above, you might expect to pay the following:

• Fee relating to retrospective consent – £1,500 – £2,500 plus VAT at 20% and disbursements. In addition, you will probably be responsible for the landlord’s legal and surveyor’s costs in respect of your application for retrospective consent.

Summary of work

1. Obtaining evidence of title.
2. Extensive review of the legal title to the property, to ensure that there are no onerous covenants or rights; and to ensure that all necessary rights are in place to allow use of the property for all normal residential purposes.
3. Preparing completion statement and drawing funds down.
4. If necessary, dealing with the redemption of the existing mortgage.
5. Registering the mortgage at the Land Registry and providing a copy of the registered title to the client.

Following is our Hourly rates.

Click here

Sale of leasehold property

Generally, we charge on an hourly basis and our hourly rates range from £200 (for a Graduate Member of CILEx) to £475 (for a partner) plus VAT at 20%. We adopt a partner-led approach so your matter will always have some involvement of a senior member of the residential property team.

No property or property transaction is exactly the same and our fees will reflect the particular requirements of your sale.

For example, dealing with the sale of a flat whereby the title structure is complex and there are question marks regarding whether renovation works have been undertaken in accordance with the terms of the lease is likely to be more time intensive (and therefore expensive) than the sale of a flat with no title or breach of covenant issues.

Leasehold sale

By way of illustration, our fees for dealing with a sale of a leasehold flat in London at a price of £2m with no title issues is likely to be in the range of £3,500 to £4,500 plus VAT (at a rate of 20%) and disbursements. 

The following third party costs (i.e. disbursements) will typically be payable:

Timescales

Using the above illustration, typically, we would expect to be in a position to exchange contracts in around 2– 8 weeks from being engaged, depending on a range of factors including: how quickly we are able to complete our client due diligence procedures, how quickly you are able to send the completed property information questionnaires and deeds to us; the turnaround time for the buyer’s search results and the responsiveness of the buyer’s conveyancer. In some circumstances, it may be possible to exchange contracts within a matter of hours of dispatching the draft contract and supporting papers (but this is not particularly common).

Assumptions

The above fee estimate assumes the following:

1. That the property is registered with the Land Registry.
2. That our and/or the buyer’s investigations do not reveal any legal issues which must be resolved prior to the exchange of contracts.
3. That there are no other unusual problems or complications.
4. We receive clear and timely instructions from you.
5. Your landlord / managing agent provides timely and full leasehold disclosure.

If any of these key assumptions are incorrect or change over time, we would provide a revised scope of work, timetable and fee estimate.

Complicated transaction – an example

If we were dealing with the sale of a leasehold flat in London at a price of £2m where there have been unauthorised alterations, major works being undertaken to the building by the landlord and a complex title structure, we would expect our fees to be in the region of £7,000 to £15,000 plus VAT and disbursements.

In addition to the disbursements above, you might expect to pay the following:

• Fee relating to landlord’s retrospective consent – £1,500 – £2,500 plus VAT and disbursements. In addition, you will probably be responsible for the landlord’s legal and surveyor’s costs in respect of your application for retrospective consent.

Stages of the process

The precise stages involved in the sale of a leasehold residential property vary according to the circumstances. However, broadly speaking, our work will involve the following:

1. Liaise with you to complete the Property Information, Leasehold Information and Fittings and Contents Forms and obtain any supporting documentation.
2. Full review of the title to the property, the leasehold and relevant superior titles.
3. Draft the contract and TR1 and, if necessary, negotiate any changes requested by the buyer’s legal advisors. Advise you on the terms of the final agreed contract.
4. Request sales pack leasehold property enquiries form from Landlord or managing agent and provide this to the buyer.
5. Communicate with the buyer’s legal advisors, the landlord or managing agent and your estate agent at key stages.
6. Answer pre-contract enquiries and liaise with you to obtain supplementary information.
7. Agree the deposit arrangements and notify you of any issues. 
8. Liaise with you to sign the contract and facilitate the process of exchange.
9. Obtain an estate agents account and prepare financial statements including apportionments of service charge and ground rent.
10. Provide the buyer’s legal advisor with necessary completion information and undertakings.
11. Liaise with you to sign the form TR1 and any other documents required for completion.
12. Collect completion funds from the buyer’s legal advisors and pay your estate agent’s fee on your behalf
13. Notify you of completion, and account to you for the balance of the sale proceeds.

Exclusions

As part of a conveyancing transaction, typically, the following would not be included in the scope of our work:

• Taxation advice.

• Rectifying unusual or onerous defects in the leasehold or freehold title.

If applicable, we will price these and any other requirements separately for you. If necessary, we will, in consultation with you obtain such additional advice as is required from appropriately qualified third parties.

Who will carry out the work

Your work may primarily be carried out by any of the solicitors, trainee solicitors or paralegals in the Residential Property Team and under partner supervision.

Following is our Hourly rates.

Click here

Last reviewed: April 2024

Purchase of a leasehold property

Generally, we charge on an hourly basis and our hourly rates range from £200 (for a Graduate Member of CILEx) to £475 (for a partner) plus VAT at 20%. We adopt a partner-led approach so your matter will always have some involvement of a senior member of the residential property team.

No property or property transaction is exactly the same and our fees will reflect the particular requirements of your purchase.

For example, dealing with a mortgage funded purchase of a leasehold flat whereby there are question marks regarding whether renovation works have been undertaken with all of the necessary consents is likely to be more time intensive (and therefore expensive) than the cash purchase of a flat where there are no title or planning issues.

Leasehold purchase

By way of illustration, our fees for dealing with a cash purchase of a leasehold flat in London at a price of £2m, no ground rent with no title or planning issues is likely to be in the range of £4,250 to £5,250 plus VAT (at a rate of 20%) and disbursements. 

The following third party costs (i.e. disbursements) will typically be payable:

In addition to the above, SDLT will be payable. You must pay SDLT if you buy a property or land over a certain price in England. In Wales, Land Transaction Tax may be payable if the sale was completed on or after 1 April 2018. For more information about SDLT, see this link.

Timescales

Using the above illustration, typically, we would expect to be in a position to exchange contracts in around 3-8 weeks from being engaged, depending on a range of factors including: how quickly we are able to complete our client due diligence procedures, the turnaround time for search results and the responsiveness of the seller’s conveyancer. In some circumstances, it may be possible to exchange contracts within a matter of hours of receiving the draft contract and supporting papers (but this is not particularly common).

Assumptions

The above fee estimate assumes the following:

1. That the property is registered with the Land Registry.
2. That our investigations do not reveal any legal issues which must be resolved prior to exchange of contracts.
3. That there are no other unusual problems or complications.
4. We receive clear and timely instructions from you.

If any of these key assumptions are incorrect or change over time, we would provide a revised scope of work, timetable and fee estimate.

Complicated transaction – an example

If we were dealing with a mortgage funded purchase of a leasehold flat in London at a price of £2m where there have been unauthorised alterations, major works being undertaken to the building by the landlord and a complex title structure, we would expect our fees to be in the region of £7,000 to £15,000 plus VAT at 20% and disbursements.

In addition to the disbursements above, you might expect to pay the following:

• Bankruptcy search fees – £2 per person.
• indemnity insurance fees.

Stages of the process

The precise stages involved in the purchase of a leasehold flat vary according to the circumstances. However, broadly speaking, our work will involve the following:

1. Approving the contract and if necessary negotiating any required changes with the seller’s legal advisers.
2. Full review of the legal title to the property and building, to ensure that the seller is legally entitled to sell the property; and to ensure that there are no onerous covenants or rights which will affect your use and enjoyment of the property; and to ensure that all necessary rights are in place to allow your use of the property for all normal residential purposes. 
3. Reviewing the details of the lease to make sure it validly grants the leaseholder the necessary rights, easements and interests and that it contains all necessary covenants on behalf of the Landlord and management company, and the generally the lease meets the standard requirements of a lender.
4. Carrying out a search with the Local Authority and analysis of the results to ensure amongst other things, that all necessary Planning Permission and Building Regulations approvals are in place; whether the property abuts a publicly maintainable highway; the results of any Tree Preservation Orders, details of any nearby road schemes, details of any proposed compulsory purchase, and whether there are any orders in place that would create further liabilities. 
5. Carrying out further searches in relation to drainage and water supply, environmental history, chancel repair liability and other locally relevant matters. Analysing the search reports to ensure that there are no onerous liabilities attached to the property.
6. Corresponding with the sellers’ solicitor to raise additional enquiries to address the results of our research and searches so that any issues that are revealed are clarified and/or dealt with.
7. Reviewing and commenting as appropriate on your survey. Please note however that we are not qualified to comment on any technical concerns relating to the building, its structure or value.
8. Providing you with a written summary of our findings from reviewing the legal title and the search reports. Providing you with the contract for your signature, along with a prepared Stamp Duty Land Tax return for filing with HMRC.
9. Exchanging contracts and carrying out the final pre-completion searches with the Land Registry to ensure that there have been no further amendments to the legal title, and to ensure that you have priority to register your ownership of the property.
10. Preparing the completion statement to show all payments made and received and confirming the balance required in order to complete your purchase.
11. Raising requisitions on title and checking the replies, including undertakings to redeem the sellers’ existing charges.
12. Drafting and agreeing the relevant transfer document.
13. Completing the purchase; submitting a return to HMRC to account for any Stamp Duty Land Tax to be paid; ensuring that any indemnity policies are in place from the date of completion including the indemnity policy to cover potential chancel repair obligations.
14. Serving on the freeholder any necessary notices of transfer and charge, along with a Deed of Covenant if necessary.
15. Registering the transaction with the Land Registry and ensuring that your ownership and any other pertinent matters are correctly recorded.
16. Forwarding to you a copy of the updated register of title.

The summary above assumes there is no mortgage.

Exclusions

As part of a conveyancing transaction, typically, the following would not be included in the scope of our work:

• Taxation advice.
• Advice or preparation of a Declaration of Trust or similar instrument to govern the details of your co-ownership of the property with anyone else.

If applicable, we will price these and any other requirements separately for you. If necessary, we will, in consultation with you obtain such additional advice as is required from appropriately qualified third parties.

Who will carry out the work

Your work may primarily be carried out by any of the solicitors, trainee solicitors or paralegals in the Residential Property Team and under partner supervision. The profiles of the members of the Residential Property Team and their level of experience can be viewed on our website.

Following is our Hourly rates.

Click here.

Last reviewed: April 2024