Shared Ownership
Shared ownership schemes can offer a cheaper and more convenient way of owning a property, by which the purchaser part-buys and part-rents shares in the leasehold title. Gardiners has dealt with Shared Ownership matters for over 20 years and our solicitors have extensive experience in purchases, sales and staircasing. We are on the panels of the top housing associations in London, including those of Notting Hill, Genesis Homes and Thames Valley. We offer reduced rates for shared ownership over conventional conveyancing matters.

Other matters
We also deal with equity redemption, re-mortgaging, social homebuy, leasehold extension and right-to-buy matters.

Why choose us?
We understand that buying or selling a property is one of the most important transactions individuals undertake. We aim to ensure that the transaction goes according to plan by keeping you fully informed every step of the way. You will receive a personal service and can speak to the person dealing with your transaction as frequently as you need for no extra cost.

The person dealing with your property transaction will be a qualified solicitor.

Our services are competitively priced and we offer fixed fee rates for all types of work in this area. We can be called at any point during our office hours for a personalised quote.

When should I instruct you?
You can telephone us at anytime for more information or for free advice. Otherwise if you are buying a property you should contact us as soon as you have put in an offer and it has been accepted. If you are selling a property you should contact us when you put it on the market.

Who deals with the conveyancing at this office
Your conveyancing work is only conducted by a fully qualified solicitor. Our conveyancing work is only carried out by Mr Gardiner.

We do not employ paralegals or trainee solicitors.

Referral Fees
We do not enter into referral agreements under any circumstances and no referral fees will ever be charged.

Our Fees
Our fees cover all the work required to complete the purchase of your new home including dealing with the registration at HM Land Registry and dealing with the payment of Stamp Duty.

You will frequently see a reference to disbursements on the breakdown of our costs. Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of disbursements on your behalf. The disbursements which we anticipate will apply are set out separately below. The list is not exhaustive and other disbursements may apply depending on the terms of the Lease. We will provide you with full details of any disbursements over and above those which are anticipated.

Our Fees for shared ownership staircasing both final and interim are

Shared Ownership Final /Interim Staircasing transaction

Legal Fees £750.00 plus Vat of £150.00

Additional Costs
• Preparing Bank telegraphic transfer £40.00 plus £8.00 Vat.
• Insurance indemnity contribution of £85.00 plus £17.00 Vat.
• Land Registry fee to be confirmed;
• Local Authority Search Fee (only if obtaining a new mortgage);
• Lenders Fee of £125.00 plus Vat of £25.00 (only if obtaining a new mortgage with a new lender.)
• Notice of Charge - £90.00 (approx) – (only applicable if obtaining a new mortgage.)
• Copy of your title register £15.00 + VAT £3.00
• Stamp Duty - £[to be confirmed]
• Bankruptcy Search - £6.00
• Completing stamp duty online £60.00 + VAT £12.00.

Our Fee’s for a shared ownership purchase are

Housing Association – New Build Purchase

Legal Fees £1200.00 plus Vat of £240.00

Additional Costs
• Local Authority Search fee of £100.00 - £250.00 tba (However, as this is part of a new build development, Notting Hill Home Ownership’s solicitors will pay for a block search. Therefore, you will only be asked to pay a contribution towards this ranging from £10 to £100);
• Land Registry Search fees of £15.00 plus vat of £3.00;
• Completing bank transfer fee of £40.00 plus Vat of £8.00;
• Insurance indemnity contribution of £45.00 plus Vat of 9.00;
• The Land Registry fee for registering the property in your name - £[to be confirmed]
• Fee for service of notice of charge of £75.00 + VAT £15.00
• Lenders Fee of £125.00 plus Vat of £ 25.00 (Only applicable if getting mortgage)
• Bankruptcy search £5.00 + VAT £1.00
• Completing stamp duty online £60.00 + VAT £12.00
• Stamp Duty – [to be confirmed]

Housing Association - (Resale Property)

Legal Fees £1500.00 plus Vat of £300.00

To us acting on your behalf in respect to the following:
• Local Authority Search fee – [to be confirmed]
• Water and Drainage Search £57.72 ;
• Land registry Search fees of £15.00 plus £3.00;
• Bank telegraphic transfer fee of £40.00 plus £8.00 Vat;
• Insurance indemnity contribution of £45.00 plus £ 9.00 Vat;
• The Land Registry fee for registering the property in your name – [to be confirmed]
• Fee for service of notice of assignment and charge of £180.00;
• Lenders fee of £125.00 plus Vat of £25.00 (applicable as you are obtaining a mortgage);
• Stamp Duty – [to be confirmed]
• Bankruptcy search fee of £5.00 + VAT £1.00
• Submitting stamp duty online £60.00 + VAT £12.00

Our Fees for a shared ownership sale are;

Sale of a leasehold flat with Housing Association

Legal Fees £1500.00 plus Vat of £300.00

Additional costs
• Official Copies of the leasehold and freehold title registers £30.00 + VAT;
• Professional Indemnity Contribution of £ 45.00 plus VAT of £ 9.00;
• Preparing Bank transfer fee per transaction £40.00 + VAT £8.00;
• Fee for dealing with Landlords/managing agents £60.00 plus vat £12.00;
• Management Company enquiry fees - (if applicable);
• Fee for acting for your lender – mortgage redemption £125.00 + VAT £25.00;

Our fees for a Leasehold or Freehold purchase and Sale are calculated on a scale basis up to £1,000,000 we charge £1500 plus Vat and disbursements

Additional costs
• Local Authority Search fee – [to be confirmed]
• Land Registry Search fees of £ 15.00 plus vat of £3.00;
• Completing Bank transfer fee of £ 40.00 plus £ 8.00 Vat;
• Insurance indemnity contribution of £ 85.00 plus £17.00 Vat;
• The Land Registry fee – [to be confirmed]
• Notice of Assignment and Charge of £120.00 – [to be confirmed]
• Lenders Fee of £ 125.00 plus Vat of £ 25.00 (Only applicable if getting mortgage)
• Completing SDLT online £60.00 plus vat of 12.00
• Stamp duty – [to be confirmed]

Our Fees for a leasehold sale up to £1,000,000 are

Sale of a Leasehold flat

Legal Fees £1500.00 plus Vat of £300.00

Additional costs
• Official Copies of the leasehold & freehold title registers £30.00 + VAT £6.00;
• Professional Indemnity Contribution of £ 85.00 plus VAT of £ 17.00;
• Preparing Bank transfer fee per transaction £40.00 + VAT £8.00;
• Fee for dealing with Landlords/managing agents £60.00 plus vat £12.00;
• Management Company enquiry fees- [to be confirmed] (if applicable);
• Fee for acting for your lender – mortgage redemption £125.00 + VAT £25.00;

Our Fees for a Freehold sale up to £900,000 are

Sale of freehold

Legal Fees £1500.00 plus Vat of £300.00

Additional costs
• Official Copies of the hold and freehold title registers for £15.00 per transaction
• Professional Indemnity Contribution of £45.00 plus Vat of £9;
• Bank transfer fee per transaction of £40.00 VAT £8.00;
• Acting for the lender in redeeming mortgage £125.00 plus Vat of £25.00

Our fees for a freehold purchase up to £900,000 are

Purchase of Freehold

Legal Fees £1500.00 plus Vat of £300.00

Additional costs
• Local Authority and Water Search fee [to be confirmed]
• Land Registry Search fees of £ 15.00 plus vat of £3.00;
• Completing Bank transfer fee of £ 40.00 plus £ 8.00 Vat;
• Insurance indemnity contribution of £ 85.00 plus £17.00 Vat;
• The Land Registry fee for registering the property in your name – [to be confirmed]
• Lenders Fee of £ 125.00 plus Vat of £ 25.00 (Only applicable if getting mortgage)
• Completing SDLT online £60.00 plus vat of 12.00
• Stamp duty – [to be confirmed]
• Bankruptcy Search fee £6.00.

Please note that you can calculate the amount of stamp duty you are liable to pay by going to HMRC

Our Fee’s for sales and purchases over £1 million are 0.5% of the sale or purchase price.

Please note all information in respect of our fees assumes that

a. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction

b. this is the assignment of an existing lease and is not the grant of a new lease

c. the transaction is concluded in a timely manner and no unforeseen complication arise

d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

e. no indemnity policies are required. Additional work and disbursements may apply if indemnity policies are required

The stages involved in the conveyancing process

The stages involved in the purchase or sale of a property vary according to the nature of the transaction you are involved in. However below are some key stages.

In the case of a sale
Take your instructions and give initial advice
Complete draft documentation and submit to the purchasers solicitors.
Deal with additional enquiries.
Exchange contracts and complete the transaction.
Redeem any existing mortgage.
Forward sale proceeds to you.

In the case of a purchase
Take your instructions and give you initial advice.
Consider draft documentation.
Apply for searches
Raise any appropriate additional enquiries
Report to you on the contract and Lease and Mortgage if appropriate
Exchange contracts and request advance funds from your mortgage provider if appropriate.
Carry out further searches such as bankruptcy search on behalf of your mortgage provider.
Complete the purchase.
Complete payment of stamp duty and deal with the registration of your interest.

The above is not an exhaustive list but we hope it gives you some idea of the key stages.

Timescales

On all matters including sales, purchases, resales, new builds and staircasing the average time is eight to twelve weeks which is a guideline as each matter is different depending on deadlines such as valuations for staircasing and new builds. Also subject to when you receive mortgage offers as buyers or if a seller when the buyer receives their mortgage offers.

We are very happy to discuss any of the above matters with you. Please don’t hesitate to call if anything is not clear or if you have a specific enquiry.

We can be contacted on 020 7603 7245 during office hours.