Note: For leasehold Properties there are certain costs which will be set out in the individual lease relating to the Property. The costs which we anticipate will apply are set out separately below. This list is not exhaustive and other costs may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £25.00 + VAT and £300.00 + VAT per Notice (in some instances more than one Notice of Transfer may be required).
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £25.00 + VAT and £300.00 + VAT per Notice (in some instances more than one Notice of Charge may be required).
Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £25.00 + VAT and £300.00 + VAT per Deed of Covenant (in some instances more than one Deed of Covenant may be required).
Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £25.00 + VAT and £300.00 + VAT per Certificate (in some instances more than one certificate may be required).
Fee to issue a new Share Certificate – To be confirmed upon receipt of the lease, as can range between £25.00 + VAT and £300.00 + VAT.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge once we receive this information.