How much will it cost?
For a detailed breakdown and estimation of costs for all of the services we offer, select a product/service from the list below:- Lease Extension
- Buy Your Freehold (Collective Enfranchisement)
- Right to Manage
- Leasehold Valuation Tribunal
- Leasehold Guidance: Complete Service
Lease Extension - Estimated Leassee Costs
| Approx. value of your flat (not assuming short lease) | Valuation to determine premium | Copy Lease & Title verification | Serve an initial notice claiming a statutory lease extension (an additional 90 years) | Negotiation - say allow | Execute your deed of variation, register it with the Land Registry & your mortgagee | Estimated total |
|---|---|---|---|---|---|---|
| £100-300,000 | £400 | £50 | From £250 ? | £500 * See Note 2 | £400 * See Note 4 | £1,600 |
| £301-500,000 | £500 | £50 | From £250 ? | £500 * See Note 2 | £400 * See Note 4 | £1,700 |
| £501-700,000 | £650 | £50 | From £250 ? | £500 * See Note 2 | £400 * See Note 4 | £1,850 |
| £701-900,000 | £750 | £50 | From £250 ? | £500 * See Note 2 | £400 * See Note 4 | £1.950 |
| £901-1,250,000 | £850 | £50 | From £250 ? | £500 * See Note 2 | £500 * See Note 4 | £2,150 |
| £1.25 million + | £1,000+ | £50 | From £250 ? | £500 * See Note 2 | £500 * See Note 4 | £2,300 |
- The "Premium" established for the statutory 90 year lease extension, and
- by law the Lessee has to pay the Landlord's reasonable legal & professional fees
Buy your Freehold - Estimated Lessee Costs
| Approximate value of your flat (not assuming short lease) | Valuation to determine premium | Check eligibility Obtaining copy Leases & Title verification & Drafting Participation Agreements | Serve an initial notice claiming statutory rights to Collectively Enfranchise | Set up Freehold Company | Negotiation - say allow | Conveyance of Freehold title post Enfranchisement | Total | Execute deed of variation to extend leases, register with Land Registry |
|---|---|---|---|---|---|---|---|---|
| 1-4 flats Each valued below £300K | £600 | £150 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £400 | £1,960 | £300 per flat - See Note 3 & 4 |
| 1-4 flatsEach valued below £500K | £800 | £150 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £400 | £2,260 | £300 per flat - See Note 3 & 4 |
| 1-4 flatsEach valued below £750K | £1,000 | £150 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £400 | £2,460 | £300 per flat - See Note 3 & 4 |
| 5-10 flats Each valued below £300K | £850 | £350 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £400 | £2,610 | £300 per flat - See Note 3 & 4 |
| 5-10 flats Each valued below £500K | £1,050 | £350 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £500 | £2,810 | £300 per flat - See Note 3 & 4 |
| 5-10 flats Each valued below £750K | £1,250 | £350 | From £250 * See Note 1 | £160 | £500 * See Note 2 | £500 | £3,010 | £300 per flat - See Note 3 & 4 |
| 11-15 flats Each valued below £300,000 | £1,000 | £350 | From £450 * See Note 1 | £160 | £600 * See Note 2 | £400 | £2,760 | £300 per flat - See Note 3 & 4 |
| 11-15 flats Each valued below £500K | £1,500 | £350 | From £450 * See Note 1 | £160 | £600 * See Note 2 | £500 | £3,360 | £300 per flat - See Note 3 & 4 |
| 11-15 flats Each valued below £750K | £2,000 | £350 | From £450 * See Note 1 | £160 | £600 * See Note 2 | £500 | £3,860 | £300 per flat - See Note 3 & 4 |
| 16-24 flats Each valued below £300,000 | £2,250 | £350 | From £450 * See Note 1 | £160 | £750 * See Note 2 | £400 | £5,500 | £300 per flat - See Note 3 & 4 |
| 16-24 flats Each valued below £500K | £2,750 | £350 | From £450 * See Note 1 | £160 | £750 * See Note 2 | £500 | £5,750 | £300 per flat - See Note 3 & 4 |
| 16-24 flats Each valued below £750K | £3,000 | £350 | From £450 * See Note 1 | £160 | £750 * See Note 2 | £500 | £6,000 | £300 per flat - See Note 3 & 4 |
| 24-35 flats Each valued below £300,000 | £3,250 | £350 | From £650 * See Note 1 | £160 | £850 * See Note 2 | £400 | £6,250 | £300 per flat - See Note 3 & 4 |
| 24-35 flats Each valued below £500K | £3,750 | £350 | From £650 * See Note 1 | £160 | £850 * See Note 2 | £500 | £6,500 | £300 per flat - See Note 3 & 4 |
| 24-35 flats Each valued below £750K | £4,250 | £350 | From £650 * See Note 1 | £160 | £850 * See Note 2 | £500 | £6,750 | £300 per flat - See Note 3 & 4 |
Blocks of more than 35 flats - price on application.
In addition to the Lessees costs there is:
- The "Premium" established for Collective Enfranchisement, and
- by law the Lessees have to pay the Landlord's reasonable legal & professional fees
Note 1
Depends on whether there is an intermediate landlord.
Note 2
Minimum fees for 3-4 hours negotiation (additional 1-2 hours for larger blocks) purpose to agree material facts & areas of dispute in valuation. Approximately 80% of cases are settled within this allowance. Fee structure includes percentage of saving so you can be sure we focus on doing our best you.
Note 3
It is not necessary to execute a lease extension just because you have bought your freehold but if you are re-mortgaging getting a lease extension may become an issue.
Note 4
Where the premium for a lease extension is agreed without serving a Section 42 Notice under the 1993 Act as amended, if you have a mortgage the lender may charge you for preparing a substituted deed of security as only lease extensions resulting from a Section 42 Notice are exempt transactions. Our fee for dealing with your mortgage lender to execute a substituted deed of security is £125+Vat.
Right to Manage - Estimated Leassee Costs
| STEP 1 | STEP 2 | STEP 3 | STEP 4 | STEP 5 | CONSULTANCY | TOTAL | |
|---|---|---|---|---|---|---|---|
| DOWNLOAD | LEGAL011 | LEGAL027 | LEGAL035 | LEGAL035A | LEGAL034 | ||
| Newsletter to generate awareness | Set up RTM Company | HM Land Registry Search Fees | Cost of serving participation notice | Cost of serving claim notice | 6 months advice on process & set up for active management | ||
| 1-10 Flats |  FREE Newsletters to download » |
£160 | £60 | £100 | £250 | £500 | £1,070 |
| 11-20 flats | FREE Newsletters to download » |
£160 | £120 | £150 | £300 | £500 | £1,230 |
| 21-30 flats | FREE Newsletters to download » |
£160 | £180 | £200 | £350 | £500 | £1,390 |
| 31-40 flats | FREE Newsletters to download » |
£160 | £240 | £250 | £400 | £500 | £1,550 |
| 40+ flats | FREE Newsletters to download » |
£160 | £240+ £10 per flat | £250+ £10 per flat | £400+ £10 per flat | £500 | Depends on the number of flat |
Note
Should the landlord either issue a counter-notice disputing the claim for Right to Manage the application must be referred to the Leasehold Valuation Tribunal for determination (LVT) within 2 months.
Leasehold Valuation Tribunal - Estimated Leassee Costs
Costs are estimates and at the time a Leasehold Valuation Tribunal is being considered a formal fee quote would be given.
| LVT Application Fee |
Legal costs to lodge LVT Application | Attendance at LVT pre-trial review | Case preparation & attendance at LVT hearing | ESTIMATED TOTAL | |
|---|---|---|---|---|---|
| RECHARGE | LEGAL20C | LEGAL020C | LEGAL020C | ||
| 1-10 Flats | £250 | £150 | £150 per hour, max £250 | £150 per hour (e.g. 8 hours = £1,200) |
£1,850 |
| 11-20 flats | £350 | £150 | £150 per hour, max £250 | £150 per hour (e.g. 8 hours = £1,200) |
£1,950 |
| 21-30 flats | £350 | £150 | £150 per hour, max £250 | £150 per hour (e.g. 8 hours = £1,200) |
£1,950 |
| 31-40 flats | £350 | £150 | £150 per hour, max £250 | £150 per hour (e.g. 8 hours = £1,200) |
£1,950 |
| 40+ flats | £350 | £150 | £150 per hour, max £250 | £150 per hour (e.g. 8 hours = £1,200) |
£1,950 |
* Fees are an estimate correct at the time of drafting but subject to changes of the law in England and Wales at any time.
Leasehold Guidance: Complete Service - Estimated Leassee Costs
All our services are designed to give you maximum flexibility and control. However, if you are keen to proceed but would prefer us to manage the process for you, then the Leasehold Guidance Complete Service may well be what you are looking for.
Taking control of your property
- Instruct our Estates Division to support you with advice and counseling from starting the
Right to Manage process to full block management.
Cost: from £500 (including 6 months support and initial setup for block management)
- Instruct our Estates Division to manage your block after you have acquired it: either through Right to Manage or Freehold Purchase
| Service | Cost |
More Information |
|---|---|---|
| Premium Service | from £2,500 per annum (depending on number of flats) |
Visit www.ringley.co.uk to learn more |
| Standard Service | from £1,750 per annum depending on number of flats) |
Visit www.ringley.co.uk to learn more |
Part of the Ringley Group:
Support for those who want to Self Manage from £525 per annum (depending on number of flats)
Visit www.supportunit.co.uk for more information.
