Our fixed fees to:

• set up a company limited by shares to hold the freehold title on behalf of the leaseholders (inclusive of Share Certificates and Register of Members)
• negotiate the Contract and Transfer
• complete the transaction
• register the purchase at the Land Registry

start from £600 plus VAT depending on the size of your Building. In addition official copy entries of £8 per flat will have to be paid and the Land Registry will charge £40 to update the title.

For tax purposes we would advise that all participating tenants extend their leases to 999 years immediately after completion of the freehold acquisition. As such there can be no increase in value between when the freehold is acquired and when the leases are granted and therefore there can be no chargeable gain. You should seek tax advice in this regard if you have any concerns. We would extend to 999 years, reduce ground rent to nil and carry out any modernisation required. If the leases are extended immediately, the consideration you pay for the freehold is deemed to be payment for the lease extension also. Our additional costs for the New Leases start from £550 plus VAT and disbursements depending on the size of your building.