Residential Conveyancing Pricing Example 3

Scenario – Purchase of a leasehold residential property for joint owners costing £350,000.00

Estimated total costs for this scenario broken down as follows: £10,579.80*

Our fees cover all the work* 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 is in Wales.

Conveyancer’s fees and disbursements

• Ashtons Legal fee – £2,040 calculated as follows:
  • Purchase fee – £1,650
  • Leasehold Property fee – £240
  • Management Company Fee (if applicable) – £150
• Search fees – £480
• Ashtons Legal fees for Lifetime ISA (if applicable, per LISA) – £114
• Ashtons Legal Fee for Help to Buy ISA administration (if applicable, per ISA) – £60
• Stamp Duty Land Tax – £7,500
• HM Land Registry fee – £135
• Bank transfer administration fee – £36
• Stamp Duty or Land Tax filing fee – £10.80
• Other/minor disbursements, e.g. Land Charges Searches – £24
• Landlord’s Notice Fees – £180 (approx.)

This example assumes that one or more of the buyers has previously owned a property and that both are UK residents at the time of completion, and that they meet all other relevant SDLT requirements to pay SDLT at standard rates.

If a mortgage is to be secured against the property with a high street lender, an additional fee of £120 will be payable for the work involved in connection with this.

If the property is within a building subject to the Building Safety Act, an additional fee of £600 will be payable for the work required in connection with this.

*Our fee assumes that this is a standard transaction and the terms of our “Presumptions” and “Exclusions” of a typical transaction apply.