The London property market continues to outperform most other global cities. Across the capital, the competition for prime commercial and private real estate is fierce. Getting access to lucrative off-plan developments is equally challenging. Svetlova LLP in central London, with offices in Mayfair and St James’s Square, has the expertise and professional connections to facilitate secure, high-end property investment. In addition to working with major UK developers, we also work closely with property agents and real estate companies who look after our clients’ property search needs.
We act primarily for overseas clients, particularly those from the CIS, India, Emirates and China, as well as UK-based private and commercial clients.
Residential and commercial property purchase in the UK
The process for buying and selling property in the UK is complicated and differs from the process used in most other countries. At Svetlova LLP, our real estate solicitors confront possible obstacles quickly, pre-empting the delays that can easily threaten the successful completion of property transactions.
We advise on all aspects of buying and selling UK property, including:
Purchase and sale (both leasehold and freehold)
Plots sales of new build property
Mortgages and other financial vehicles
Purchase and sale of commercial buildings and other premises
Site acquisition for developers
Planning applications and option agreements
Set up of property funds
Leasehold enfranchisement and lease extensions
Ensure successful acquisition of UK investment property
As London’s position as one of the world’s most appealing cities is consolidated, our central London team works closely with private clients who wish to purchase off-plan property for investment, often with a view to selling their interest before construction is complete.
If you speak to any major developer in London, they recognise us as leaders in this field.
Specialist advice for an agreed fixed-fee price
At Svetlova LLP, we have a unique, fixed-fee approach to charging; we know that purchasing UK real estate represents a significant investment. We believe it is important for you to budget with certainty at the outset your transaction. We would be happy to provide a quote to you on the telephone.
To arrange an initial consultation, call Svetlova LLP on +44 207 129 129 6 or contact us online.
Most of our services are offered on a fixed fee basis, however, each case is individual and the fee depends on the volume and complexity of the legal issues involved. Our clients are given an estimate of costs after our initial meeting or as part of the engagement process.
In accordance with the Solicitors Regulation Authority (SRA) guidance on price transparency, we have published our price and service information where it is possible to be upfront about charges without knowing all the details of the matter.
The below rates are exclusive of VAT. Professional fees will be subject to VAT at 20% where this is applicable.
For details as to whether Svetlova LLP will be able to assist with your specific real estate query and to receive a fee quote tailored to your specific requirements, please contact us. Your fixed fee would be agreed upon prior to us formalising our engagement with you.
The key personnel in the Real Estate department are:
Tatiana Svetlova – Partner
Josephine Chung – Associate
Anastasia Troshkova – Trainee Solicitor
Alina Sushchenko – Trainee Solicitor
We base our fees for standard sales and purchases of residential properties on the following scaled rates:
0.3% of the purchase price
minimum fee capped at £1200 (freehold)
minimum fee capped at £1500 (leasehold)
Our fees are exclusive of Value Added Tax and disbursements.
Our fee does not include tax advice, other than in connection with the payment of SDLT.
Stamp Duty Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website.
Disbursements are costs related to your matter that are payable to third parties, such as search and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
HM Land Registry fee: The cost will be between £20 to £910. These fees vary and are based on the purchase price of the property. We can give you an accurate figure once we know the purchase price of the property.
Search fees: The cost will be between £350 to £700 plus VAT. These fees vary due to where the property is located. We can give you an accurate figure once we have sight of your specific documents and know the location of your property.
Electronic money transfer fee: £40 plus VAT for each same day CHAPS and £15 plus VAT for a three day BACS
If you are buying or selling a leasehold property there are additional disbursements depending on the term of the lease.
Notice of Transfer fee: This fee if chargeable is set out in the lease. Often the fee is between £50- £150.
Notice of Charge fee: (if the property is to be mortgaged) This fee is set out in the lease. Often the fee is between £50 and £150.
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 £150 and £300.
Certificate of Compliance fee: To be confirmed upon receipt of the lease, as can range between £50 – £150.
Licence to assign fee: This fee is provided by the landlord or management company for the property and can be difficult to estimate. Often it is between £500 and £750
*These fees vary from property to property and can be significantly more than the ranges given above. We can give you an accurate figure only once we have seen your specific documents.
Stages of purchase of residential freehold and leasehold property and our scope of work includes:
Taking your instructions and giving you initial advice
Checking finances are in place to fund purchase and contact lender’s solicitors if needed
Negotiating and agreeing the sale and purchase agreement
Submitting searches in relation to the Property, reviewing the search results and raising additional enquiries where relevant
Reviewing the documentation to check the legal title of the Property and compile a report on title
Sending you the final contract for signature
Drafting, negotiating and agreeing the form of transfer to the buyer
Obtaining pre-completion searches
Agreeing the completion date (the date from which you own the property)
Arranging for all monies needed to be received from you and the lender
Completing the purchase
Dealing with the post completion matters including:
preparing and submitting the stamp duty land tax return and the stamp duty land tax due to HM Revenue & Customs
submitting the Land Registry application in relation to the purchase of the property
Stages of sale of residential freehold and leasehold property and our scope of work includes:
Taking your instructions and give you initial advice
Preparing a sales pack comprising title information, tenancy documentation, planning information and standard replies to enquiries
Drafting, negotiating and agreeing the sale and purchase agreement
Advising you on the terms of the sale
Negotiating and agreeing the form of transfer to the buyer
Dealing with additional enquiries raised by the buyer’s solicitors and preparing replies to those enquiries
Send final contract to you for signature
Agreeing a completion date (date from which you will sell the property)
Exchange contracts and notify you that this has happened
Completing the purchase
Repaying any bank loan, agents fees and sending you the net proceeds of sale