What is the difference between freehold and leasehold?

Generally, the purchase of a freehold property is simpler than leasehold and so can often means lower fees.

Freehold

Our Freehold fees start at £445 for a sale and £495 for a purchase, and should you want to base your decision on the average legal fees you would pay for a standard freehold sale or purchase where the property is registered with HM Land Registry, you would need to add land registry costs, full details of costs can be found at Land Registry Website.

As stated previously, there may be additional fees, and examples these and/or disbursements (payments which we pay to third parties on your behalf as part of the conveyancing process) are outlined below.

 

Prices shown + VAT at 20%

Example

Figures as based on a sale or purchase of up to £125000

Sale Price
File Management Fee covers the cost of digital archiving for 6 years, the initial administration work on your case which acts as a guarantee on our ‘no move, no legal fee’ policy and is non-refundable. £160.00 + VAT
Residential Mortgage Redemption £85.00 + VAT
Company Mortgage Redemption £325.00 + VAT
Acting on Commonhold properties £200.00 + VAT
CHAPS Transfer/Telegraphic Transfer Fee (TT Fee) £35.00 + VAT
CHAPS Transfer to pay balance monies to you (TT Fee) £35.00 + VAT
Arranging Defective Title Insurance Policy (including; Chancel Repair Insurance & Environmental Contaminated Land Insurance) £50.00 + VAT
Restriction Cautions or Notices £145.00 + VAT
Discharge of Second Legal Charge £195.00 + VAT
Drafting additional Contract packages for sale contract race (each) £225.00 + VAT
Statutory Declaration £175.00 + VAT
Dealing with Seperate third party lawyer e.g. matrimonial dispute £245.00 + VAT
Key undertaking £80.00 + VAT
Fee for handling a contract race on a sale £225.00 + VAT
Leasehold £195.00 + VAT
High Rise above five storeys or 11 meters £650.00 + VAT
Freehold with management company £150.00 + VAT
Purchase Price
File Management Fee covers the cost of digital archiving for 6 years, the initial administration work on your case which acts as a guarantee on our ‘no move, no legal fee’ policy and is non-refundable. £160.00 + VAT
Leasehold £195.00 + VAT
Acting for Residential Lender - Mortgage £95.00 + VAT
Acting for Company Lender - Mortgage £375.00 +VAT
CHAPS Transfer/Telegraphic Transfer Fee (TT Fee) £35.00 + VAT
SDLT fee (Stamp Duty Land Tax form completion & submission) £55.00 + VAT
Arranging Defective Title Policy (including Chancel Repair Insurance & Environmental Contaminated Land Insurance) £50.00 + VAT
Deed of Covenant (drafting, engrossing and registering deed) £150.00 + VAT
Statutory Declaration £175.00 + VAT
Dealing with third party lawyer e.g. matrimonial dispute £245.00 + VAT
Key undertaking £80.00 + VAT
Certificate of Compliance £75.00 + VAT
Transfer of Share Management Company £75.00 + VAT
Registering up to 3 contact addresses and / or restriction re: purchase £50.00 + VAT
Dealing with a gifted deposit (Per Deposit) £100.00 + VAT
Help to Buy ISA (per ISA) £50.00 + VAT
Life time ISA (Per ISA) £75.00 + VAT
Help to buy scheme £150.00 + VAT
New Build Property £150.00 + VAT
Shared Ownership £225.00 + VAT
Unregistered Property £225.00 + VAT
Bridging Loan £375.00 + VAT
Freehold Management Pack £75.00 + VAT
Notice or restrictions (per charge) £50.00 + VAT
Purchase Subject to Existing Tenancy £200.00 + VAT
HMO Additional Fees £225.00 + VAT
High Rise above five storeys or 11 meters £1000.00 + VAT
Staircasing £550.00 + VAT
Joint borrower, sole proprietor £250.00 + VAT
Freehold with management company £150.00 + VAT
Further additional fees: - Price
Expedite Fee **** £300.00 + VAT
Securing second legal charge under New Build ‘Home to Buy’ scheme. £150.00 + VAT
Assignment of a Solar Panel Lease and obtaining consents £150.00 + VAT
Deed of Appointment of a New Trustee £200.00 + VAT
Flying Freehold Deed of Mutual Covenant £175.00 + VAT
Drafting a Transfer of Part with rights, reservations and/ or covenants £350.00 + VAT
Removal of registered Caution (each time) £125.00 + VAT
Drafting Assured Shorthold Tenancy £250.00 + VAT
Cheque returned unpaid / stopped at customer request £35.00 + VAT
Lease extension or variation (approval) Payable whether completes or not £550.00 + VAT
Lease extension or variation (creation) Ask for a bespoke quotation. Payable whether completes or not Bespoke
Transfer of Share Certificate in the Management Company £50.00 + VAT
Gift Letter to Donors £50.00 + VAT
Money Laundering ID Check (Per Person) £20 + VAT
Preparing a Deed of Trust / Declaration of trust £150.00 + VAT
Solar Panel Lease £100.00 + VAT
High Rise above five storeys or 11 meters (Remortgage or Transfer of Equity) £650.00 + VAT
Residual Balance Reconciliation Fee £25.00 + VAT
Return of monies by cheque £15.00 + VAT
Separate representation £200.00 + VAT

** Land Registry Fees may be payable on your transaction and will increase if the property you are buying is unregistered or is a brand-new plot. For further information visit the Land Registry Website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

*** Stamp Duty Land Tax (SDLT) in England and Northern Ireland or Land Transaction Tax (LLT) in Wales may be payable on your transaction, for full details for SDLT visit https://www.gov.uk/stamp-duty-land-taxor for LLT visit https://www.gov.wales/land-transaction-tax-guide

**** Applicable when we are required to expedite your matter before other more standard transactions including completing within 7 days of exchange, dealing with a contract race, dealing with daily communication requests, simultaneous exchange & completion, auctions with less than 21 days remaining to complete or completing on any matter within 21 days of receiving a suitable contract packs.

Timings

The length of these legal processes can vary from start to finish. Accurate timescales will be given after initial consultations have taken place on your individual case.

Exceptional Circumstances

This website provides examples of the average costs and fees involved with these types of legal matters. But each client has their own set of circumstances and so there will be occasions when exceptional circumstances add to the complexity and time taken to reach a conclusion. We will always keep you fully informed of any change in costs and circumstances and explain why, too. In these situations, our fees may exceed those quoted above, but we will notify you in advance if we need to exceed an original estimate.

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