Property

Residential Conveyancing including Freehold Sale and Purchase, leasehold sale or purchase, mortgages and re-mortgages.

Our team has over 50 years of collective experience in delivering high quality work in all matters relating to Private and Business clients. We have 6 members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by a Partner of the firm, Mr Md Nazrul Islam.

Mr Md Nazrul Islam is a partner at Waterstone Solicitors specialising in Conveyancing. He has extensive experience with over 15 years in dealing with different property matters. Most matters will be handled by Mrs Sabeka Khanom, a solicitor specialising in Residential and Commercial Property with over 10 years of experience.

At Waterstone Solicitors we offer an inclusive service dealing with all aspects of Commercial Property as well as Residential Property. Whether it is a small business or a larger organisation, some of the areas our solicitors can assist you with include sale and purchase of commercial property/land, creating new leases, assignment of leases, lease renewals and re-financing. Our clients include property developers, surveyors, banks, pension funds, institutional investors, retailers, landlords and tenants. We have substantial expertise in hotel transactions, residential development and work for retail occupiers. A number of our clients come to us as a result of referrals from existing clients and professional recommendations which is a direct testament of our success. However, we are required by our regulator, SRA to provide you with our prices in the following areas only:

1. Freehold Residential Sale or Freehold Residential Purchase
2. Leasehold Residential Sale or Leasehold Residential Purchase

1. Freehold Residential Sale

Our fees cover all of the work required to complete the sale of your home from initial contact with you directly or through an estate agent until completion of the sale, including dealing with any lender to redeem your mortgage.

Our fees and disbursements

Legal Fees

Legal Fees: £795 plus VAT

Identification Checks: £30 plus VAT

Dealing with Lender Fees (if applicable) : £100 plus VAT

Electronic Money Transfer Fee: £40 plus VAT

Third Party Payments/Disbursements

Office Copy Entries : £15

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry Fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

The following are disbursements that are anticipated in your transaction:

• Land Registry fees for Office Copy Entries as above – as part of a sale we are obliged to provide the buyer’s solicitor with up to date official copies of the registers of title, title plan and any other title documents estimated as in the above costs.

We will always advise and encourage you from the outset to provide all information and requisite documents at our first meeting or telephone call in order for us to assess and provide you with the best accurate quote and keep your costs to a minimum. However, in certain cases there may be other factors which will play a vital role and may cause us to increase our prices. Such as:

• Upon investigation of Title Deeds, we discover that Title is defective or that part of the property is unregistered. This needs to be remedied and addressed through an indemnity insurance or by obtaining any relevant documents as it satisfies the purchaser.

• Factors such as discovery at a later stage that building regulations or planning permission were not obtained and needs to be remedied through an indemnity insurance or other party

• Crucial documents are yet to be provided from you even after repeated requests to do so. We will have to hold the transaction until we are provided with these documents.

• Factors such as the value of the property that you are selling

• Whether you live locally, nationally or internationally and we are able to identify your identity in person or whether you will be required to see a local solicitor for this, as well as carry out any necessary searches as required by our regulator to verify your identity.
• Whether there is a mortgage to be redeemed or any other additional charges
• Whether there are multiple owners
• Whether there is a Shared Ownership Scheme

What are the stages of the transaction?

The actual stages involved in this type of transaction are not always the same and may vary depending on the individual transaction itself. Nonetheless, below we will list the standard stages that we would expect to carry out in this type of matter:

• Meet you in person where possible to take your instructions on the matter and carry out your identity checks and obtain the necessary proof of address and other such necessary documents.
• Send out our client care and protocol forms for you to fill in and return to us, together where possible with a mortgage statement in order for us to request a redemption figure from your lender (if there is a lender).
• Request up to date office copy entries from the Land Registry to forward to Buyer’s solicitors.
• Draft contract and send this to Buyer’s solicitors for their approval.
• Deal with any enquiries raised by the Buyer’s solicitors by obtaining your replies and instructions on the matter.
• Peruse the transfer and correct and amend/approve this in readiness for exchange.
• Contact you and obtain your preferred chosen date for exchange and completion to have an estimated time frame for this.
• Ask you to attend our office to have the Contract and transfer form signed and witnessed.
• After having agreed the date of exchange and completion, clearly notify you of these details and request to get confirmation of your bank details in order for us to transfer the proceeds of sale after completion.
• Exchange contracts and notify you of the same.
• Make sure that, if there is no estate agent, any agreed arrangements between you and the Buyer are observed, e. g. property keys are left in a certain place such as our office for the Buyer or someone else to collect, and possession of the property by new owner is possible following completion as agreed.
• Complete the transaction and notify you of the same.
• Obtain a new redemption figure from the Lender and redeem it.
• Make sure that all other third party disbursements such as Estate Agents fees have been paid before transferring the proceeds of sale to you.
• Confirm that the money has reached your account.

How long will my transaction take to complete?

We will normally attempt to complete the work as soon as we can and in each case we anticipate that we will be able to complete this type of transactions between 8-10 weeks of you instructing us, but we will let you know at the earliest opportunity if we are unable to do so for any reason.

Please note that the above given timescale will depend on certain factors such as the number of parties in the chain. For example, if you are selling to a cash buyer we anticipate the sale to be straight forward and complete the same in less than six weeks time. However, if this is residential leasehold in which an extension of a lease is required we expect the same to take between 12 to 24 weeks to complete. If that is the case we reserve the right and expect that our charges will increase.

Also, if Indemnity insurance needs to be arranged as part of the transaction we will charge for the same a separate service of £150 plus vat. This is in addition to the premium payable to the insurance company for the policy. Further, the price quoted above covers only the case where your matter is the assignment of an existing lease and is not the grant of a new lease. All transactions even though go through the same stages are likely to vary depending on their unique circumstances and on the above quoted prices we are assuming that All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.

We aim to keep the sale straight forward and complete the same in less than six weeks time. However, if this is a residential leasehold in which an extension of a lease is required, we expect the same to take between 12 to 24 weeks to complete. If that is the case, we expect to, and reserve the right to increase our charges.

Also, If an Indemnity insurance needs to be arranged as part of the transaction, we will charge a separate service of £150 plus VAT. This is in addition to the premium payable to the insurance company for the policy. Further, the price quoted above covers the costs where your matter is the assignment of an existing lease and is not the grant of a new lease. All transactions go through the same stages but are likely to vary depending on their unique circumstances. On the above quoted prices, we are assuming that all parties involved in the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.

1.1 Freehold Residential Purchase

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements

Legal Fees

Legal Fees £995 plus VAT

Legal Fees for Acting on Behalf of the Mortgage Lender (if applicable): £250 plus VAT

Identification Checks and AML Checks: £50 plus VAT

Electronic Money Transfer Fee: £40 plus VAT

Search Fees (including cost of search): £300 plus VAT

Dealing with HM Land Registry e-lodgement: £100 plus VAT

Submitting Stamp Duty Land Tax with HMRC: £100 plus VAT

Third Party Payments/Disbursements

Disbursements 

Disbursements are costs relating to your matter that are payable to third parties, such as Land Registry fees and Stamp Duty Land Tax. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty Land Tax:

You usually pay Stamp Duty Land Tax (SDLT)if you are purchasing property or land in England and you will pay Land Transaction Tax (LTT) if you are purchasing residential property or land in Wales. Different rules apply if you’re buying your first home or replacing your main residence as it depends on the purchase price of the property, whether you are buying on your own or jointly with another who for instance may not be a first time buyer and so on. Please use the SDLTcalculator to work out how much tax you’ll pay if you are purchasing a residential property or land in England. Please use the https://gov.wales/land-transaction-tax-calculator to work out how much tax you’ll pay if you are purchasing a residential property or land in Wales.

Land Registry fees

This fee depends mainly on the purchase price of the said property. The scale is published under the following link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees . We are proud to inform you that we have subscribed with Land Registry and use their Business E-portal and therefore you are entitled to the reduced fee estimated between £20- £455 on the purchase of the freehold residential property where registration affects the whole of the title.

We will always advise and encourage you from the outset to provide all information and requisite documents at our first meeting or telephone call in order for us to asses and provide you with the best accurate quote and keep your costs as low as possible. However, in certain cases there may be certain factors as below which will play a vital role and may cause us to increase our prices:

• Upon investigation of title Deeds, we discover that Title is defective or that part of the property is unregistered.

• Factors such as discovery at a later stage that building regulations or planning permission was not obtained.

• Crucial documents are yet to be provided from you or other party and this delays the transaction.

• Factors such as the value of the property that you are purchasing.

• If the property is being purchased in cash, we may need to raise additional enquiries and request a verification of the sources of funds and obtain thorough clarifications and supporting documents from you.
• Whether you live locally, nationally or internationally and we are able to identify your identity in person or whether you will be required to see a local solicitor for this, as well as carry out any necessary searches as required by our regulator to verify your identity.
• Other factors will look at the property to be purchased and identify whether it is a new build, a first registration of title, a purchase at auction or a purchase under a right to buy scheme.

• The type of finance being used e. g. mortgage, Islamic mortgage, equity loan, ISA or as part of a shared ownership scheme.

• Number of owners purchasing the property and whether the buyer a private individual or corporate.

What are the stages of the transaction?

The actual stages involved in this type of transactions are not always the same and may vary depending on the individual transaction itself. Nonetheless, below we will list the standard stages that we would expect to carry out on this type of transactions:

• Meet you in person where possible to take your instructions on the matter and carry out your identity checks and obtain the necessary proof of address and other such necessary documents.
• Request from you the necessary documentation to check finances are in place to fund purchase and contact lender’s solicitors if we are required to do so.
• Receive and peruse the contract while giving you feedback and, if satisfied, approve it with the purpose of sending it to the purchaser’s solicitors.
• Advise you on Searches to be carried out on the property and provide you with a quote before proceeding to instruct the same.
• Peruse all documents sent to us by the seller and make any necessary requests for any other documents as the case may warrant us to do.
• Make any necessary enquiries of the seller’s solicitor.
• Provide you with a full report on Title and advise you on all documents and information received.
• If there is a Mortgage offer in place, we will go through the conditions of the mortgage offer with you.
• Once the contract has been agreed and a preliminary date has been discussed by parties, we will agree on it with other Purchase Solicitors and notify you of this.
• Make the necessary arrangements for the Contract and ensure Transfer is signed and witnessed by you in readiness of exchange and completion. We will send you the final contract to you for sign.
• Agree the completion date and immediately inform you of this.
• Exchange contracts and notify you that this has happened.
• Request all funds to be transferred on your account from you and your lender in readiness of completion.
• Complete purchase and notify you accordingly that the purchase has taken place.
• Submit Stamp Duty Land Tax.
• Apply for registration at Land Registry.
• Deal With any Requisition if any hasarisen during the process.
• Upon Registration, provide you with new updated Title Deeds.

How long will my transaction take to complete?

We will normally attempt to complete the work as soon as we can and, in each case, we anticipate that we will be able to complete this type of transaction between 8-10 weeks of you instructing us, but we will let you know at the earliest opportunity if we are unable to do so for any reason.

Please note that the above given timescale will depend on certain factors such as the number of parties in the chain. For example, if your related purchase depended on a related sale to advance the sale proceeds as your funds, we would then be required to complete or wait on that sale transaction to complete before we then proceed with this purchase transaction.This may be complicated and cause the whole chain to be delayed. If that is the case, we expect to, and reserve the right to increase our charges.

Also, If an Indemnity insurance needs to be arranged as part of the transaction, we will charge a separate service of £150 plus VAT. This is in addition to the premium payable to the insurance company for the policy. Further, the price quoted above covers the costs where your matter is the assignment of an existing lease and is not the grant of a new lease. All transactions go through the same stages but are likely to vary depending on their unique circumstances. On the above quoted prices, we are assuming that all parties involved in the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.

2. Leasehold Residential Sale

Our fees cover all of the work required to complete the sale of your home/apartment from initial contact with you directly, or through an estate agent, until the completion of the sale, including dealing with any lender to redeem your mortgage.

Our fees and disbursements

Legal Fees

Legal Fees: £895 pus VAT

Identification Checks: £30 plus VAT

Dealing with Lender Fee (if applicable): £100 pus VAT

Electronic Money Transfer Fee: £40 plus VAT

Third Party Payments/Disbursements

Office Copy Entries : £15

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry Fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

The following are disbursements that are anticipated in your transaction:

• Land Registry fees for Office Copy Entries as above – as part of a sale we are obliged to provide the buyer’s solicitor with up to date official copies of the registers of title, title plan and any other title documents estimated as in the above costs.

Land Registry fees

This fee depends mainly on the purchase price of the said property and the scale for the same is published under the following link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees.

Other Anticipated Disbursements

In most leasehold sales, solicitors, as sellers, are required to provide the buyer’s solicitors with what is called a re-sale pack. This pack of documents can be requested by us to the Freeholder or Managing Agents as the case may be.

The cost for the same varies from property to property, based on the size of the property, the borough that is located in and/or the Managing Agents. Estimated costs are between £500- £1000.

Another anticipated charge is also License to Assign Fees – this again depends on the actual Lease and we need to peruse this to give the accurate fee as it can vary from £250 to £500.

Other charges that are common and can be anticipated on this type of transaction are:

Ground Rent and Service Charges: We are unable to provide you with any prices for this as we would need to first check with the Leaseholders pack and other documents when we receive them. However, you may be aware of this as the owner of the leasehold as you have had to pay the same. We will check for any defaulted payment as we have to clear all charges at, or immediately after, completion. If you have paid in advance for the above charges, we will ensure that the buyer reimburses you.

On other cases, if service charges are based on estimated accounts, the buyer may want you to agree to us holding a retention to cover any excess service charge payable for the time that you owned the property. If we have to hold and maintain a retention, there will be an additional fee of £200 plus VAT for us to deal with the matter.

We will always advise and encourage you from the outset to provide all information and requisite documents at our first meeting or telephone call in order for us to assess and provide you with the best accurate quote and keep your costs to a minimum. However, in certain cases there may be other factors which will play a vital role and may cause us to increase our prices. Such as:

• Upon investigation of Title Deeds, we discover that Title is defective or that part of the property is unregistered. This needs to be remedied and addressed through an indemnity insurance or by obtaining any relevant documents as it satisfies the purchaser.

• Factors such as discovery at a later stage that building regulations or planning permission were not obtained and needs to be remedied through an indemnity insurance or other party

• Crucial documents are yet to be provided from you even after repeated requests to do so. We will have to hold the transaction until we are provided with these documents.

• Factors such as the value of the property that you are selling

• Whether you live locally, nationally or internationally and we are able to identify your identity in person or whether you will be required to see a local solicitor for this, as well as carry out any necessary searches as required by our regulator to verify your identity.
• Whether there is a mortgage to be redeemed or any other additional charges
• Whether there are multiple owners
• Whether there is a Shared Ownership Scheme

What are the stages of the transaction?

The actual stages involved in this type of transaction are not always the same and may vary depending on the individual transaction itself. Nonetheless, below we will list the standard stages that we would expect to carry out in this type of matter:

• Meet you in person where possible to take your instructions on the matter and carry out your identity checks and obtain the necessary proof of address and other such necessary documents.
• Send out our client care and protocol forms for you to fill in and return to us, together where possible with a mortgage statement in order for us to request a redemption figure from your lender (if there is a lender).
• Request up to date office copy entries from the Land Registry to forward to Buyer’s solicitors.
• Draft contract and send this to Buyer’s solicitors for their approval.
• Deal with any enquiries raised by the Buyer’s solicitors by obtaining your replies and instructions on the matter.
• Peruse the transfer and correct and amend/approve this in readiness for exchange.
• Contact you and obtain your preferred chosen date for exchange and completion to have an estimated time frame for this.
• Ask you to attend our office to have the Contract and transfer form signed and witnessed.
• After having agreed the date of exchange and completion, clearly notify you of these details and request to get confirmation of your bank details in order for us to transfer the proceeds of sale after completion.
• Exchange contracts and notify you of the same.
• Make sure that, if there is no estate agent, any agreed arrangements between you and the Buyer are observed, e. g. property keys are left in a certain place such as our office for the Buyer or someone else to collect, and possession of the property by new owner is possible following completion as agreed.
• Complete the transaction and notify you of the same.
• Obtain a new redemption figure from the Lender and redeem it.
• Make sure that all other third party disbursements such as Estate Agents fees have been paid before transferring the proceeds of sale to you.
• Confirm that the money has reached your account.

How long will my transaction take to complete?

We will normally attempt to complete the work as soon as we can and in each case we anticipate that we will be able to complete this type of transactions between 8-10 weeks of you instructing us, but we will let you know at the earliest opportunity if we are unable to do so for any reason.

Please note that the above given timescale will depend on certain factors such as the number of parties in the chain. For example, if you are selling to a cash buyer we anticipate the sale to be straight forward and complete the same in less than six weeks time. However, if this is residential leasehold in which an extension of a lease is required we expect the same to take between 12 to 24 weeks to complete. If that is the case we reserve the right and expect that our charges will increase.

Also, If an Indemnity insurance needs to be arranged as part of the transaction we will charge for the same a separate service of £150 plus vat. This is in addition to the premium payable to the insurance company for the policy. Further, the price quoted above covers only the case where your matter is the assignment of an existing lease and is not the grant of a new lease. All transactions even though go through the same stages are likely to vary depending on their unique circumstances and on the above quoted prices we are assuming that All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.

2. Leasehold Residential Purchase

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements

Legal Fees

Legal Fees: £1095 plus VAT

Legal Fees for Acting on Behalf of the Mortgage Lender: £250 plus VAT

Identification Checks and AML Checks: £50 plus VAT

Electronic Money Transfer Fee: £40 pus VAT

Search Fees (including cost of search): £300 pus VAT

Dealing with HM Land Registry e-lodgement: £100 plus VAT

Submitting Stamp Duty Land Tax with HMRC: £100 plus VAT

Third Party Payments/Disbursements

Disbursements 

Disbursements are costs relating to your matter that are payable to third parties, such as Land Registry fees and Stamp Duty Land Tax. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty Land Tax:

You usually pay Stamp Duty Land Tax (SDLT) if you are purchasing property or land in England and you will pay Land Transaction Tax (LTT) if you are purchasing residential property or land in Wales. Different rules apply if you’re buying your first home or replacing your main residence as it depends on the purchase price of the property, whether you are buying on your own or jointly with another whom for instance may not be a first time buyer and so on. Use the SDLTcalculator to work out how much tax you’ll pay if you are purchasing a residential property or land in England. Use the https://gov.wales/land-transaction-tax-calculator to work out how much tax you’ll pay if you are purchasing a residential property or land in Wales.

Land Registry fees

This fee depends mainly on the purchase price of the said property. The scale is published under the following link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. We are proud to inform you that we have subscribed with Land Registry and use their Business E-portal and therefore you are entitled to the reduced fee estimated between £20- £455 on the purchase of the freehold residential property where registration affects the whole of the title.

This type of transaction often attracts other Disbursements such as:

Notice of Transfer Fee: This fee is stated in the lease and we can give you an accurate price upon perusing the lease but often varies between £150 to £500.

Notice of Charge Fee: It only applies if the property will be mortgaged. Again, this fee can be found in the lease and can vary between £150 and £500.

Deed of Covenant Fee:

This fee is to be provided by the Management Company and we would be unable to state it without perusing the documents first but normally varies between £250 and £500.

Certificate of Compliance Fee: Again, it can be found in the lease and we can only give you the actual price once we peruse the Leasebut it normally it varies £250 and 500.

We should also notify you of the Ground Rent and Service Charges: These two fees will be found in the Re-Sale pack provided to us by the Seller’s solicitor once we start the process. We will notify you accordingly once we have confirmed this.

Also, it is common practice that the Seller pays the Ground Rent and Service Charges and he will need to be reimbursed should that be the case.

We will always advise and encourage you from the outset to provide all information and requisite documents at our first meeting or telephone call in order for us to asses and provide you with the best accurate quote and keep your costs as low as possible. However, in certain cases there may be certain factors as below which will play a vital role and may cause us to increase our prices:

• Upon investigation of title Deeds, we discover that Title is defective or that part of the property is unregistered.

• Factors such as discovery at a later stage that building regulations or planning permission was not obtained.

• Crucial documents are yet to be provided from you or other party and this delays the transaction.

• Factors such as the value of the property that you are purchasing.

• If the property is being purchased in cash, we may need to raise additional enquiries and request a verification of the sources of funds and obtain thorough clarifications and supporting documents from you.
• Whether you live locally, nationally or internationally and we are able to identify your identity in person or whether you will be required to see a local solicitor for this, as well as carry out any necessary searches as required by our regulator to verify your identity.
• Other factors will look at the property to be purchased and identify whether it is a new build, a first registration of title, a purchase at auction or a purchase under a right to buy scheme.

• The type of finance being used e. g. mortgage, Islamic mortgage, equity loan, ISA or as part of a shared ownership scheme.

• Number of owners purchasing the property and whether the buyer a private individual or corporate.

What are the stages of the transaction?

The actual stages involved in this type of transactions are not always the same and may vary depending on the individual transaction itself. Nonetheless, below we will list the standard stages that we would expect to carry out on this type of transactions:

• Meet you in person where possible to take your instructions on the matter and carry out your identity checks and obtain the necessary proof of address and other such necessary documents.
• Request from you the necessary documentation to check finances are in place to fund purchase and contact lender’s solicitors if we are required to do so.
• Receive and peruse the contract while giving you feedback and, if satisfied, approve it with the purpose of sending it to the purchaser’s solicitors.
• Advise you on Searches to be carried out on the property and provide you with a quote before proceeding to instruct the same.
• Peruse all documents sent to us by the seller and make any necessary requests for any other documents as the case may warrant us to do.
• Make any necessary enquiries of the seller’s solicitor.
• Provide you with a full report on Title and advise you on all documents and information received.
• If there is a Mortgage offer in place, we will go through the conditions of the mortgage offer with you.
• Once the contract has been agreed and a preliminary date has been discussed by parties, we will agree on it with other Purchase Solicitors and notify you of this.
• Make the necessary arrangements for the Contract and ensure Transfer is signed and witnessed by you in readiness of exchange and completion. We will send you the final contract to you for sign.
• Agree the completion date and immediately inform you of this.
• Exchange contracts and notify you that this has happened.
• Request all funds to be transferred on your account from you and your lender in readiness of completion.
• Complete purchase and notify you accordingly that the purchase has taken place.
• Submit Stamp Duty Land Tax.
• Apply for registration at Land Registry.
• Deal With any Requisition if any has arisen during the process.
• Upon Registration, provide you with new updated Title Deeds.

How long will my transaction take to complete?

We will normally attempt to complete the work as soon as we can and, in each case, we anticipate that we will be able to complete this type of transaction between 8-10 weeks of you instructing us, but we will let you know at the earliest opportunity if we are unable to do so for any reason.

Please note that the above given timescale will depend on certain factors such as the number of parties in the chain. For example, if your related purchase depended on a related sale to advance the sale proceeds as your funds, we would then be required to complete or wait on that sale transaction to complete before we then proceed with this purchase transaction. This may be complicated and cause the whole chain to be delayed. If that is the case, we expect to, and reserve the right to increase our charges.

Also, If an Indemnity insurance needs to be arranged as part of the transaction, we will charge a separate service of £150 plus VAT. This is in addition to the premium payable to the insurance company for the policy. Further, the price quoted above covers the costs where your matter is the assignment of an existing lease and is not the grant of a new lease. All transactions go through the same stages but are likely to vary depending on their unique circumstances. On the above quoted prices, we are assuming that all parties involved in the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.