Residential Property Conveyancing Solicitors
For most of us our home is by far the most valuable asset that we will ever own. So, whether you are considering either buying or selling a property, it is important that the conveyancing process is handled by professionals who have the appropriate knowledge and experience to protect you and your asset now and in the future.
Choosing the right conveyancer is an important part of the process. It is a conveyancer’s job to guide you through the transaction, and to address the legal technicalities and spot any potential pitfalls or issues. Your conveyancer will not only ensure that your transaction progresses smoothly within the timescale that you require, but will also provide reassurances to you that both you and your investment are safe and secure.
At Wolferstans, our Law Society Conveyancing Quality Scheme (CQS)-accredited team will be on hand at every stage of the process. Your dedicated conveyancer will keep you informed throughout the transaction and work with you to meet your expectations as a valued client.
Our team of property experts is qualified and experienced to assist you in all aspects of residential property transactions ranging from re-mortgages, transfers of equity, equity releases and leasehold extensions to the more complex overage provisions, formal deeds of grant and reconstruction of unregistered titles to land.
Jump to a section
We Keep Things Moving
We handle hundreds of property transactions every year — from first homes to remortgages, shared ownership, and commercial property. Our experienced team keeps things moving smoothly, avoids unnecessary delays, and communicates with you in plain English throughout.
We understand that buying or selling property can be stressful, so we’re here to guide you through every step of the process.
Why choose Wolferstans for conveyancing in Plymouth?
Wolferstans is a well-known and well-respected Plymouth-based firm with an excellent reputation with the roots of the firm having first been established on The Barbican in the heart of Plymouth over 200 years ago.
Our philosophy is to deliver a high quality service in a friendly and personal manner with a view to establishing long-term professional relationships with our clients.
Our fees are competitive and affordable, reflecting the quality of the service we provide – we do not cut corners when dealing with one of the most important transactions you are likely to make during your lifetime.
We understand that each and every transaction is unique and we adapt our working practices to the individual needs of each of our clients.
We use a state-of-the-art practice management system to improve efficiency and facilitate prompt communication with our clients.
We have extensive knowledge and experience in all aspects of residential sales, purchases and related transactions and we offer all-round and professional advice you can rely on.
Our clients are given the direct dial telephone number and email address of their own dedicated conveyancer with whom they will interact on a one-to-one basis throughout the course of their transaction.
Our conveyancing service includes:
- A free initial discussion and quotation
- Fixed fees, offering cost certainty
- Direct line access to our property lawyers
- Plain English advice and guidance
- Accredited performance standards
We Keep Things Moving
We handle hundreds of property transactions every year — from first homes to remortgages, shared ownership, and commercial property. Our experienced team keeps things moving smoothly, avoids unnecessary delays, and communicates with you in plain English throughout.
We understand that buying or selling property can be stressful, so we’re here to guide you through every step of the process.
Shared Ownership
What is shared ownership?
It is a method of home ownership where the buyer purchases a share of the property and pays rent on the share not purchased.
It is mainly intended for buyers whose incomes would make it difficult for them to purchase a property outright. It can be used for both houses and flats and is available primarily from a Registered Social Landlord (RSL), usually a Housing Association.
How does it work?
The buyer is granted a Lease (usually 99 or 125 years) and the RSL retains ownership of the freehold.
The Lease contains provisions enabling the purchase of further shares (called “staircasing”), usually in multiples of 10% as and when the shared-owner is able to afford them. The price of the shares is determined by an independent value by reference to the market value of the property at that time. As further shares are purchased, there is a corresponding reduction in the rent payable to the RSL.
If the purchaser attains 100% ownership, the RSL will transfer the freehold title in the house to the shared-owner, the Lease is effectively cancelled and the owner has no further involvement with the RSL. There are some exceptions where the right to acquire the freehold title does not apply but these are quite rare.
In the case of a flat, it is not possible for the owner to acquire the freehold so the shared ownership Lease is converted into a normal Lease. In these cases, the RSL continues as the Landlord and will usually collect a nominal annual rent together with any service charges payable under the Lease in respect of maintenance, insurance etc of the building within which the flat is located.
How common is shared ownership?
It is a growing trend and almost all new housing developments are required under their planning permissions to provide a certain number of affordable housing units.
The market for “second hand” shared ownership properties is also growing; however, due to certain restrictions imposed by the Lease, these properties do not always come onto the open market immediately. It is usual for the RSL to have nomination rights which enables it to nominate a purchaser from its waiting list. If it fails to do so within a specified period (usually 6 weeks), the property can be marketed through an estate agent.
Is it for me?
Shared ownership properties are acceptable to a large number of mortgage lenders, so mortgage finance is not usually a problem provided the buyer’s financial position satisfies the lender’s requirements.
One important distinction between properties held on shared ownership and those that are rented from either an RSL or local authority is that shared owners are responsible for their own maintenance and repairs.
If you are considering a shared ownership property and would like advice on the procedure and costs involved Wolferstans would be happy to help you.
Why choose us
Decades of conveyancing experience
No legal jargon, just clear updates
Thousands trust us every year
Remortgaging
When considering mortgage options, the products that fix the rate of interest payable on the loan amount for a specific number of months or years, help us to calculate our monthly outgoings with greater precision. The fixed term is usually a period of 2 to 5 years and thereafter interest on any unpaid balance will be subject to the Lender’s standard variable rate which can be an expensive way of borrowing money and increase the monthly payments considerably.
As such, remortgaging your property at the end of the fixed term of your current mortgage is likely to be of significant financial benefit to you in the long term.
Remortgaging your property may also be an option if you are looking to raise funds for home improvements or other life plans.
Once you have taken specialist advice from your Bank or Building Society or a mortgage broker as to the mortgage products that best suit your needs, our expert re-mortgaging lawyers in Plymouth will deal with the legal formalities of the new mortgage and they will guide you through the process which, in summary, includes:
- Contacting your existing lender and requesting a redemption statement showing the balance outstanding under your current mortgage together with any administrative costs. (If you decide to pay off your existing mortgage before the end of the fixed term, you may also be liable for early repayment charges which will be accounted for in the redemption statement).
- Providing a detailed written report to you on the terms of your new mortgage offer so as to ensure that they meet your specific requirements.
- Meeting with you to discuss any concerns or queries you may have.
- Ensuring that any special terms and conditions set out under the new mortgage offer are complied with.
- Undertaking appropriate enquiries and investigations and reporting to your new lender accordingly.
- Requesting drawdown of the mortgage funds under the new offer.
- Redeeming your existing mortgage and ensuring the lender’s interest in your property is subsequently discharged.
- Applying to the Land Registry to register the new mortgage and providing you and your new lender with the updated title information document.
Transfer of equity
There are various circumstances in which it may become necessary to transfer equity in your home, for example, if you get married or if the property is part of the financial settlement in divorce proceedings.
Our transfer of equity lawyers will advise you as to the implications of adding or removing someone from the title.
We will take care of the entire legal process to include obtaining the consent of your mortgage lender to the transfer, drafting the deed of transfer and addressing the registration formalities at the Land Registry.
Equity release
Equity release is a mechanism that allows homeowners (usually over the age of 55) to unlock some of the capital that is tied up in their property to help fund retirement plans, pay for life plans or meet any other financial demands, for example.
There are two main equity release options:
Lifetime mortgage
This is similar to a standard mortgage, except there is no fixed date by which the mortgage loan is to be paid off. It is generally the case that loan must be repaid on completion of a sale of your property and a sale is triggered if you should go into long-term care or if you should pass away.
The amount of the loan depends on the value of your property – any existing mortgage or charge registered against the property must be paid off. Interest on the sum available for you to borrow is usually “rolled up” which means that it is repaid when your home is sold and so you are free from the burden of making monthly repayments.
Home reversion
This involves selling all or part of your home to a home reversion provider in exchange for a lump sum of money / lesser payments on an agreed schedule. Again, you will be entitled to stay in your own home until you move into long-term care or you pass away. The downside is that you will usually only get around 20-60% of the market value of your home, or the part of it you sell (depending on your age) but the advantage is that, as the sum advanced to you is not a loan but arises a part of a sale transaction, it will not be subject to any interest.
Our expert equity release lawyers in Plymouth will meet with you face-to-face to discuss the terms of your equity release mortgage/home reversion arrangements and to ensure that the terms of the offer are clear to you. We will also advise you on the implications of proceeding with this type of mortgage and the effects on your family and children and others who may benefit from your estate when you pass away.
We have the expertise to guide you through the equity release process with compassion and understanding, so that you may continue to enjoy living in your own home for the rest of your life.
Speak to our conveyancing solicitors in Plymouth
If you are planning to buy, sell or re-mortgage a home or if you are looking for clear, expert legal guidance regarding any land or property transaction, our friendly, expert and professional conveyancing lawyers in Plymouth will be more than happy to help.
Our Conveyancing Fees
Conveyancing fees for freehold purchase
| Property price bracket | Standard fees |
|---|---|
| Up to £150,000 | £1,350 plus VAT |
| £150,001 to £250,000 | £1,450 plus VAT |
| £250,001 to £350,000 | £1,550 plus VAT |
| £350,001 to £450,000 | £1,725 plus VAT |
| £450,001 to £500,000 | £1,850 plus VAT |
| £500,001 to £750,000 | £2,250 plus VAT |
| £750,001 to £1,000,000 | £2,950 plus VAT |
| £1,00,001 to £1,500,000 | £3,500 plus VAT |
| £1,500,001 to £2,000,000 | £3,950 plus VAT |
| £2,000,001 to £3,000,000 | £5,000 plus VAT |
All reference to VAT on this page is at the standard rate of 20%
In addition, the following fixed fees and expenses will apply to all purchases.
Additional fees and expenses
| Description | Amount |
|---|---|
| Our electronic transfer fee (to send completion monies including bank charge) | £35 plus VAT* |
| Our completion and submission of the Land Transaction Return to HM Revenue and Customs fee | £90 plus VAT |
| Land Registry pre-completion search expense | £7 plus VAT |
| Bankruptcy search expense (fee per name and variation of each name) | £6 plus VAT |
| Our fee for obtaining Help to Buy ISA bonus | £50 plus VAT |
| Lawyer checker expense | £18 plus VAT |
| Forces Help to Buy advance pay loan fee (if applicable) | £110 plus VAT |
| Help to Buy fee (if applicable) | £220 plus VAT |
| Armalytix source of funds fee | £21 plus VAT |
All reference to VAT on this page is at the standard rate of 20%
In addition, the following fees and expenses will apply which are calculated on the basis of:-
- The agreed price of the property
- The location of the property
- Your own personal circumstances and reason for purchasing
Search fees
Our standard search packs include:
- Local Authority Search
- Water and Drainage Search
- Environmental Search
Where applicable, we will carry out a mining search for £50 +VAT.
The cost of the search pack depends upon whether the Administrative Area within which the property you are buying is situated.
Searches are subject to VAT* and example costs are provided below:
Local authority search fees
| Council | Cost |
|---|---|
| South Hams District Council | £250.48 |
| Cornwall Council | £362.67 |
| Plymouth City Council | £255.42 |
| West Devon Borough Council | £250.48 |
Land registry fees and stamp duty land tax
Land registry fee (this is a scaled fee depending on the value of the transaction and whether you are buying a newbuild or unregistered property that is subject to first registration) please click here.
Stamp Duty Land Tax (this depends on the value of the transaction and whether you are purchasing the property for use as your main residence or a buy-to-let investment property / second home) please click here.
Worked Example of fees and expenditures
Using the information above you can estimate the total sum applicable to your transaction. It is also easy to obtain a specific quote by contacting our Client Services team:
- by telephone on 01752 643968
- by email at clientservices@wolferstans.com
- by speaking to one of the team via our 24/7 live chat
Example – Purchase of a freehold property by an individual in Plymouth for £150,000
| Professional Costs | £1,250.00 |
| VAT on our fees | £268.00 |
| Our fees INC VAT | £1,608.00 |
| Vatable disbursement | |
| Pre-completion & bankruptcy search (per person) | £6.00 |
| Notifying the transaction to HM Revenue & Customs | £90.00 |
| Bank transfer fee | £35.00 |
| Online identity check (per person) | £14.50 |
| Lawyer checker fee | £18.00 |
| Non-vatable disbursements | |
| Local search, water & drainage search, environmental search and Terrafirma search bundle (estimate – some searches may be subject to VAT) | £300.00 |
| Land Registry fee | £100.00 |
| Disbursements | £473.50 |
| VAT on disbursements | £14.70 |
| Total disbursements INC VAT | £488.20 |
| Our total fees and disbursements inclusive of VAT | £2,096.20 |
Our fees cover the standard work required to ensure that you acquire a good and marketable title to the property you are buying and that any specific conditions of your mortgage loan (as stipulated by your lender) are satisfied, including:
- Examination of the title to the property
- Obtaining all relevant searches
- Considering the disclosures made by the Seller
- Raising appropriate enquiries with the Seller
- Addressing the general and specific requirements of your mortgage lender (if applicable), reporting to your Lender and arranging for drawdown of the mortgage advance
- Providing you with a detailed written report relating to the property and providing either hard copy or electronic copies of all documents made available to us by the Seller during the course of our own enquiries
- Maintaining good levels of communication with you throughout the course of the transaction by way of either telephone or email or face-to-face meetings as you direct
- Dealing with your specific enquiries
- Implementing appropriate measures to try to protect you and your mortgage lender from fraud
- Exchange contracts and complete purchase
- Notification to HM Revenue and Customs once the transaction has completed and payment of Stamp Duty Land Tax
- Addressing the registration formalities at the Land Registry following completion
When do our fees become payable?
Our standard fixed fees are due on completion of the transaction. Payments to third parties, such as Land Registry title documents will be payable in advance. We normally ask you to make an initial advance payment on account of £300. If the initial payments are likely to exceed this, we will request an additional sum to cover those expenditures.
Referral fees
We have a commercial arrangement with a few local Estate Agents, Mortgage Brokers and Financial Advisors to whom we pay a fixed fee for each matter that is referred to us by them. A formal referral agreement is made between Wolferstans and the company or body referring work to us but our duty remains to advise you independently in line with our professional duties. The agreement will not impact on you, as a client, or your rights as a consumer. We will let you know if such an arrangement is in place between Wolferstans and the person or body that has referred you to use our services. We will confirm to you in writing the fee that Wolferstans shall pay to the Referrer on completion of your transaction. Please note, that the fees quoted to you by Wolferstans will not be increased or amended to account for the referral fee.
How long will it take?
The length of time that it takes to complete a purchase of a freehold property depends on various factors, including:
- How quickly the other party to the transaction is able to proceed
- How quickly the conveyancer acting for the other party is able to progress the transaction
- How quickly you are able to respond to any enquiries or provide us with relevant instructions
- Whether any unusual or difficult circumstances should arise or come to light during the course of the transaction.
It will also depend on the nature of the transaction, for example, whether:
- you are relying on monies under an advance pay loan agreement such as under the Forces Help to Buy Scheme
- there are multiple owners
- you are buying a property subject to existing tenancies
- you are buying under a Shared Ownership Scheme
- you are using the Help to Buy Scheme
- the transaction is a probate purchase awaiting issue of the formal Grant of Probate
- you wish to instruct a Surveyor to prepare a HomeBuyer’s report and the availability of the Surveyor
- you are buying only a part of a property that is subject to complex rights and reservations
- you are buying a newbuild property on a new development
- you are buying an auction property
- the property you are buying has been repossessed by the owner’s mortgage company
- you have a related transaction
- you are buying under a part-exchange arrangement.
On average, standard purchase transactions take between 6 to 12 weeks to complete.
Conveyancing fees for freehold sale
| Property Price Bracket | Standard Fees |
|---|---|
| Up to £150,000 | £1,350 plus VAT |
| £150,001 to £250,000 | £1,450 plus VAT |
| £250,001 to £350,000 | £1,550 plus VAT |
| £350,001 to £450,000 | £1,725 plus VAT |
| £450,001 to £500,000 | £1,850 plus VAT |
| £500,001 to £750,000 | £2,250 plus VAT |
| £750,001 to £1,000,000 | £2,950 plus VAT |
| £1,00,001 to £1,500,000 | £3,500 plus VAT |
| £1,500,001 to £2,000,000 | £3,950 plus VAT |
| £200,0001 to £3,000,000 | £5,000 plus VAT |
*All reference to VAT on this page is at the standard rate of 20%
In addition, the following fixed fees and expenses may apply to sales
Additional fixed fees and third party expenses
| Our Electronic Transfer Fee to redeem a mortgage or charge | £35 plus VAT* |
| Office copy title information documents from HM Land Registry | £7 per document plus VAT |
All reference to VAT on this page is at the standard rate of 20%
Example total fees
Using the information above you can estimate the total sum applicable to your transaction. It is also easy to obtain a specific quote by contacting our Client Services team:
- by telephone on 01752643983
- by email at clientservices@wolferstans.com
- by speaking to one of the team via our 24/7 live chat
Example – Sale by an individual of a freehold property in Plymouth for £150,000 subject to a mortgage
| Professional Costs | £ 1,250.00 |
| VAT on our Fees | £ 250.00 |
| Our Fees Inc. VAT | £ 1,500.00 |
| Vatable Disbursements | |
| Bank Transfer Fee | £ 35.00 |
| Online identity check | £ 14.50 |
| Lawyer checker | £ 18.00 |
| Non-Vatable Disbursements | |
| Land Registry Fee – Property Title Information | £ 28.00 |
| Disbursements | £ 95.50 |
| VAT on Disbursements | £ 19.10 |
| Total Disbursements Inc VAT | £ 114.60 |
| Our total fees and Disbursements Inclusive of VAT | £ 1,614.60 |
Our fees cover the standard work required to complete the sale of your home including;
- Obtaining the title documents to your property from the Land Registry or, if your property is unregistered, considering the deeds available and preparing the Epitome on Title
- Drafting the contract for approval by your buyer’s solicitors
- Addressing enquiries raised by your buyer’s solicitor
- Providing you with updates on progress of your transaction and maintaining good levels of communication throughout by either email or telephone or face-to-face meetings as you direct
- Advising you on how to obtain any missing information or documents relevant to your sale
- Approving the form of transfer deed provided by the buyer’s solicitors
- Arranging to redeem any existing mortgage or charge secured against your property on completion.
When do our fees become payable?
Our standard fixed fees are due on completion of the transaction. Payments to third parties, such as Land Registry title documents will be payable in advance. We normally ask you to make an initial advance payment on account of £100. If the initial payments are likely to exceed this, we will request an additional sum to cover those expenditures.
Referral fees
We have a commercial arrangement with a few local Estate Agents, Mortgage Brokers and Financial Advisors to whom we pay a fixed fee for each matter that is referred to us by them. A formal referral agreement is made between Wolferstans and the company or body referring work to us but our objective remains to advise you independently in line with our professional duties. The agreement will not impact on you, as a client, or your rights as a consumer.
We will let you know if such an arrangement is in place between Wolferstans and the person or body that has referred you to use our services. We will confirm to you in writing the fee that Wolferstans shall pay to the Referrer on completion of your transaction. Please note, that the fees quoted to you by Wolferstans will not be increased or amended to account for the referral fee.
How long will it take?
The length of time that it takes to complete a sale of a freehold property depends on various factors, including:
- How quickly the other party to the transaction is able to proceed
- How quickly the conveyancer acting for the other party is able to progress the transaction
- How quickly you are able to respond to any enquiries or provide us with relevant instructions
- Whether any unusual or difficult circumstances should arise or come to light during the course of the transaction
It will also depend on the nature of the transaction, for example, whether:
- the buyer is relying on monies under an advance pay loan agreement such as under the Forces Help to Buy Scheme
- there are multiple owners
- the property is being sold subject to existing tenancies
- the buyer is using a Shared Ownership Scheme
- the buyer is using the Help to Buy Scheme
- the transaction is a probate sale/purchase awaiting issue of the formal Grant of Probate
- the buyer wishes to instruct a Surveyor to prepare a HomeBuyer’s report and the availability of the Surveyor
- you are selling only a part of a property that is subject to complex rights and reservations
- you have a related transaction
- you are selling under a part-exchange arrangement.
On average, standard sale transactions take between 6 to 12 weeks to complete.
Conveyancing fees for leasehold purchase
| Leasehold Price Bracket | Standard Fees |
|---|---|
| Up to £150,000 | £1,850 plus VAT |
| £150,001 to £250,000 | £1,950 plus VAT |
| £250,001 to £350,000 | £2,150 plus VAT |
| £350,001 to £450,000 | £2,225 plus VAT |
| £450,001 to £500,000 | £2,350 plus VAT |
| £500,001 to £750,000 | £2,750 plus VAT |
| £750,001 to £1,000,000 | £3,450 plus VAT |
| £1,00,001 to £1,500,000 | £3,750 plus VAT |
| £1,500,001 to £2,000,000 | £4,450 plus VAT |
| £200,0001 to £3,000,000 | £5,500 plus VAT |
| Additional fixed fees and expenditures | Fee |
|---|---|
| Electronic Transfer Fee (our fee to send completion monies including bank charge) | £35 plus VAT |
| Completion and submission of the Land Transaction Return to HM Revenue and Customs | £90 plus VAT |
| Land Registry pre-completion search | £7 plus VAT |
| Bankruptcy search (fee per name and variation of each name) | £6 plus VAT |
| Fee for obtaining Help to Buy ISA bonus (if applicable) | £50 plus VAT |
| Lawyer checker fee (used if the Seller’s appointed solicitors are unknown to us to help avoid fraud) | £18 plus VAT |
| Help to Buy fee (if applicable) | £220 plus VAT |
| Forces Help to Buy advance pay loan fee (if applicable) | £110 plus VAT |
| Armalytix source of funds fee | £21 plus VAT |
*All reference to VAT on this page is at the standard rate of 20%
Additional variable fees and expenses (calculated on the basis of):
- The agreed price of the property
- The location of the property
- Your own personal circumstances and reason for purchasing
Search fees
Our standard search packs include:
- Local Authority Search
- Water and Drainage Search
- Environmental Search
The cost of the search pack depends upon whether the Administrative Area within which the property you are buying is situated.
Searches are subject to VAT and example costs are provided below:
| Administrative Area | Price |
|---|---|
| South Hams District Council | £250.48 |
| Cornwall Council | £362.67 |
| Plymouth City Council | £255.42 |
| West Devon Borough Council | £250.48 |
| Additional searches | |
| Mining search | £50 + VAT* |
*All reference to VAT on this page is at the standard rate of 20%
Land registry fees and stamp duty land tax
Land registry fee (this is a scaled fee depending on the value of the transaction and whether you are buying a newbuild or unregistered property that is subject to first registration) please click here.
Stamp Duty Land Tax (this depends on the value of the transaction and whether you are purchasing the property for use as your main residence or a buy-to-let investment property / second home) please click here.
| Additional fees – Leasehold purchase – these are dependent on the individual matter | Fee |
|---|---|
| Ground rent and service charge apportionments | *£150 |
| Notice of Transfer Fee (to be advised by landlord/managing agent) | *£100 |
| Notice of Charge Fee (to be advised by landlord/managing agent) | *£100 |
| Deed of Covenant Fee (to be advised by landlord/managing agent) | *£150 |
| Other (to be advised by landlord/managing agent) | *£? |
*These figures are typical, but each Landlord/freehold agent has its own charging scale and so the figures provided are for illustrative purposes only and should not be relied upon.
Worked Example of fees and expenditures
Using the information above you can estimate the total sum applicable to your transaction. Or, get in touch today to obtain a specific quote.
Example – Purchase for an individual of a leasehold property in Plymouth for £150,000 subject to a mortgage
| Purchase of a leasehold property by an individual in Plymouth for £150,000 | Fee |
|---|---|
| Professional Costs | £1,750.00 |
| VAT on our Fees | £368.00 |
| Our Fees Inc VAT | £2,208.00 |
| Vatable Disbursements | |
| Pre completion & bankruptcy search (per person) | £6.00 |
| Notifying the transaction to HM Revenue & Customs | £90.00 |
| Bank Transfer Fee | £35.00 |
| Online identity check (per Person) | £14.50 |
| Lawyer Checker Fee | £18.00 |
| Local search, Water & Drainage search, environmental search and Terrafirma search bundle (estimate – some searches may be subject to VAT) |
£300.00 |
| Land Registry Fee | £100.00 |
| Disbursements | £473.50 |
| VAT on Disbursements | £14.70 |
| Total Disbursements Incl. VAT | £488.20 |
| Our total fees and Disbursements Inclusive of VAT | £2,696.20 |
*These figures are typical, but each Landlord/freehold agent has its own charging scale and so the figures provided are for illustrative purposes only and should not be relied upon.
The work involved in dealing with a leasehold purchase is similar to the work set out under the heading “Freehold Purchase” and the additional work includes:
- Considering the title to the freehold land (the land in the ownership of the Landlord)
- Considering the provisions of the lease and the seller’s leasehold title
- Ensuring that any restrictions contained in the leasehold title are dealt with appropriately and all necessary consents to the assignment of the lease are obtained
- Reviewing ground rent provisions
- Reviewing service charge provisions
- Reporting on the anticipated annual costs and expenditures of the leasehold property
- Ensuring the Landlord’s compliance with current legislation in relation to the freehold land and buildings
- Service of notices on the freeholder / management company
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 as soon as this we receive this information.
When do our fees become payable?
Our standard fixed fees are due on completion of the transaction. Payments to third parties, such as Land Registry title documents will be payable in advance. We normally ask you to make an initial advance payment on account of £300. If the initial payments are likely to exceed this, we will request an additional sum to cover those expenditures.
Referral fees
We have a commercial arrangement with a few local Estate Agents, Mortgage Brokers and Financial Advisors to whom we pay a fixed fee for each matter that is referred to us by them. A formal referral agreement is made between Wolferstans and the company or body referring work to us but our duty remains to advise you independently in line with our professional duties. The agreement will not impact on you, as a client, or your rights as a consumer. We will let you know if such an arrangement is in place between Wolferstans and the person or body that has referred you to use our services. We will confirm to you in writing the fee that Wolferstans shall pay to the Referrer on completion of your transaction. Please note, that the fees quoted to you by Wolferstans will not be increased or amended to account for the referral fee.
How long will it take?
The length of time that it takes to complete a purchase of a leasehold property depends on various factors, including:
- How quickly the other party to the transaction is able to proceed
- How quickly the conveyancer acting for the other party is able to progress the transaction
- How quickly you are able to respond to any enquiries or provide us with relevant instructions
- Whether any unusual or difficult circumstances should arise or come to light during the course of the transaction.
It will also depend on the nature of the transaction, for example, whether:
- you are relying on monies under an advance pay loan agreement such as under the Forces Help to Buy Scheme
- there are multiple owners
- you are buying a property subject to existing tenancies
- you are buying under a Shared Ownership Scheme
- you are using the Help to Buy Scheme
- the transaction is a probate purchase awaiting issue of the formal Grant of Probate
- you wish to instruct a Surveyor to prepare a HomeBuyer’s report and the availability of the Surveyor
- you are buying only a part of a property that is subject to complex rights and reservations
- you are buying a newbuild property on a new development
- you are buying an auction property
- the property you are buying has been repossessed by the owner’s mortgage company
- you have a related transaction
- you are buying under a part-exchange arrangement.
On average, standard purchase transactions take between 6 to 12 weeks to complete.
*All reference to VAT on this page is at the standard rate of 20%
Conveyancing fees for leasehold sale
| Leasehold Price Bracket | Standard fees |
|---|---|
| Up to £150,000 | £1,850 plus VAT |
| £150,001 to £250,000 | £1,950 plus VAT |
| £250,001 to £350,000 | £2,150 plus VAT |
| £350,001 to £450,000 | £2,225 plus VAT |
| £450,001 to £500,000 | £2,350 plus VAT |
| £500,001 to £750,000 | £2,750 plus VAT |
| £750,001 to £1,000,000 | £3,450 plus VAT |
| £1,00,001 to £1,500,000 | £3,750 plus VAT |
| £1,500,001 to £2,000,000 | £4,450 plus VAT |
| £200,0001 to £3,000,000 | £5,500 plus VAT |
All reference to VAT on this page is at the standard rate of 20%
Additional variable fees and expenses (calculated on the basis of):
-
- The agreed price of the property
- The location of the property
- Your own personal circumstances and reason for selling
- Ownership of the freehold land and whether the freeholder has appointed an agent or agents to manage the freehold its behalf
| Electronic Transfer Fee (our fee to redeem any mortgage or charge including bank charge) | £35 plus VAT* |
| HMLR fee for obtaining title documents | £7 per document plus VAT |
| Landlord/freehold management company/managing agent sales pack fee payable to Landlord/freehold management company/management company | *This is likely to be between £120 to £420 |
| Licence to Assign fee payable to Landlord/freehold Management Company | *This is likely to be between £100 to £200 |
The actual fees payable will be notified to you following enquiry raised of the freeholder. The level of fees payable may depend on the number of flats in the building and the size of the freehold estate.
All reference to VAT on this page is at the standard rate of 20%
Worked Example of fees and expenditures
Using the information above you can estimate the total sum applicable to your transaction. It is also easy to obtain a specific quote by contacting our Client Services team.
Example – Sale by an individual of a leasehold property in Plymouth for £150,000 subject to a mortgage
Non-vatable disbursements
| Professional Costs | £1,750.00 |
|---|---|
| VAT on our fees | £350.00 |
| Our fees INC VAT | £2,100.00 |
| Vatable disbursement | |
| Bank Transfer Fee | £35.00 |
| Online identity check/td> | £14.50 |
| Lawyer checker | 18.00 |
| Land Registry fee – Property Title Information | £28.00 |
| Disbursements | £95.50 |
| VAT on disbursements | £19.10 |
| Total disbursements INC VAT | £144.60 |
| Our total fees and disbursements inclusive of VAT | £2,214.60 |
What is included in our standard fee?
The work involved in dealing with a Leasehold sale includes those items set out above under the heading “Freehold Sale” and, in addition, includes:
-
-
- Liaising with your Landlord / your Landlord’s managing agent to make enquiry relating to insurance and ground rent
- Liaising with your Landlord / the Management Company / managing agent to make enquiry relating to service charges (these are the costs for maintaining the building and any common areas in a good state of repair and condition)
- Dealing with enquiries raised by your buyer’s solicitors in relation to ground rent and service charges
- Calculating apportionments of ground rent and service charges
- Addressing any compliance matters or restrictions on sale
-
When do our fees become payable?
Our standard fixed fees are due on completion of the transaction. Payments to third parties, such as Land Registry title documents will be payable in advance. We normally ask you to make an initial advance payment on account of £100. If the initial payments are likely to exceed this, we will request an additional sum to cover those expenditures.
Referral fees
We have a commercial arrangement with a few local Estate Agents, Mortgage Brokers and Financial Advisors to whom we pay a fixed fee for each matter that is referred to us by them. A formal referral agreement is made between Wolferstans and the company or body referring work to us but our duty remains to advise you independently in line with our professional duties. The agreement will not impact on you, as a client, or your rights as a consumer. We will let you know if such an arrangement is in place between Wolferstans and the person or body that has referred you to use our services. We will confirm to you in writing the fee that Wolferstans shall pay to the Referrer on completion of your transaction. Please note, that the fees quoted to you by Wolferstans will not be increased or amended to account for the referral fee.
How long will it take?
The length of time that it takes to complete a sale of a leasehold property depends on various factors, including:-
-
-
- How quickly the other party to the transaction is able to proceed
- How quickly the conveyancer acting for the other party is able to progress the transaction
- How quickly you are able to respond to any enquiries or provide us with relevant instructions
- Whether any unusual or difficult circumstances should arise or come to light during the course of the transaction
-
It will also depend on the nature of the transaction, for example, whether:
-
- the buyer is relying on monies under an advance pay loan agreement such as under the Forces Help to Buy Scheme
- there are multiple owners
- the property is subject to existing tenancies
- the buyer is using a Shared Ownership Scheme
- the buyer is using the Help to Buy Scheme
- the transaction is a probate sale/purchase awaiting issue of the formal Grant of Probate
- the buyer wishes to instruct a Surveyor to prepare a HomeBuyer’s report and the availability of the Surveyor
- you are selling only a part of a property that is subject to complex rights and reservations
- you have a related transaction
- you are selling under a part-exchange arrangement.
- On average, standard sale transactions take between 6 to 12 weeks to complete.
Our fees for mortgages and remortgages
Our fees for dealing with the formalities of the new mortgage over your current home are:
Residential Re-mortgage
| Property price bracket | Our fees |
|---|---|
| Up to £500,000 | £850 plus VAT* |
| £500,000 – £750,000 | £950 plus VAT* |
*All reference to VAT on this page is at the standard rate of 20%
Our fees for buy-to-let mortgages
| Property price bracket | Our fees |
|---|---|
| Up to £249,999 | £1,500 plus VAT* |
| £250,000-£499,999 | £1,700 plus VAT* |
| £500,000-£749,999 | £1,950 plus VAT* |
*All reference to VAT on this page is at the standard rate of 20%
Search fees
Our standard search packs include:
- Local Authority Search
- Water and Drainage Search
- Environmental Search
The cost of the search pack depends upon whether the Administrative Area within which the property you are buying is situated.
Searches are subject to 20% VAT and example costs are provided below:
| Administrative Area | Price |
|---|---|
| South Hams District Council | £250.48 |
| Cornwall Council | £362.67 |
| Plymouth City Council | £255.42 |
| West Devon Borough Council | £250.48 |
| Additional searches | |
| Mining search | £50 + VAT |
Using the information above you can estimate the total sum applicable to your transaction. You can also contact our team for a free quote.
Example of fees and expenditures
A residential re-mortgage of a freehold property by an individual in Plymouth valued at £150,000
| Standard legal fee incl VAT | £900.00 |
| Bank Transfer Fee incl VAT | £42.00 |
| Credas ID Verification incl VAT | £3.96 |
| Local searches incl VAT | £300.00 |
| Pre-completion search fee payable to HM Land Registry | £7.00 |
| Land Registry Bankruptcy search fee (single name) | £7.00 |
| Office copies | £14.00 |
| Land Registry | £30.00 |
| Total costs | £1,306.96 |
The work involved is to check that the title to your property, which is to secure payment of the mortgage debt, is good and marketable and includes:
- Examination of the title to the property
- Obtaining all relevant searches
- Making enquiry as to any alterations or changes you may have made to the Property and obtaining copies of all relevant consents and compliance certificates
- Addressing the general and specific requirements of your mortgage lender (if applicable) and reporting to your Lender
- Checking your existing insurance arrangements are acceptable to your lender
- Redeeming any existing charges registered against the property
- Undertaking all appropriate due diligence
- Serving notice of the new mortgage on your Landlord or their agent/freehold management company (leasehold only)
All reference to VAT on this page is at the standard rate of 20%
Get in touch to discuss how we can help you.
Our accreditations and awards
