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
• Court Appointed Manager
• First Tier Tribunal (Property Chamber)
• Leasehold Guidance: Complete Service

Lease Extension - Estimated Costs

Approx. value of your flat (assuming long 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
£0-500,000	£850	£60	From £300 *See Note 1	£920 * See Note 2	£450 * See Note 4	£2,580
£501-1,000,000	£1,000	£60	From £300 *See Note 1	£920 * See Note 2	£450 * See Note 4	£2,730
£1 million +	£1,500	£60	From £300 *See Note 1	£920 * See Note 2	£550 * See Note 4	£3,230

In addition to the Lessees costs there is:

• 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 (and those of any intermediate landlord, if they choose to be separately represented)

Please note that these fees are an estimate only and do not cover situations where additional complexities arise (e.g missing freeholder)

Please note that we reserve the right to charge for our time at our hourly rates on a matter where there has been more than the usual amount of correspondence.

Buy your Freehold - Estimated Lessee Costs

Approximate value of your flat (assuming long 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 Enfranc hisement	Total	Execute deed of variation to extend leases, register with Land Registry
1-4 flats	£1,000	£150	From £300 * See Note 1	£160	£975 * See Note 2	£500	£3,085	£450 per flat - See Note 3 & 4
5-10 flats	£2,500	£300	From £350 * See Note 1	£160	£1,100 * See Note 2	£500	£4,910	£450 per flat - See Note 3 & 4
11-15 flats	£3,275	£400	From £450 * See Note 1	£160	£1,250 * See Note 2	£550	£6,085	£450 per flat - See Note 3 & 4
16-20 flats	£4,000	£500	From £500 * See Note 1	£160	£1,250 * See Note 2	£600	£7,010	£450 per flat - See Note 3 & 4
21+ flats	Bespoke Quote	£750	From £700 * See Note 1	£160	£1,450 * See Note 2	£650	Bespoke Quote	£450 per flat - See Note 3 & 4

Please note that these fees are an estimate only and do not cover situations where additional complexities arise (e.g missing freeholder).

Please note that we reserve the right to charge for our time at our hourly rates on a matter where there has been more than the usual amount of correspondence.

Blocks of more than 35 flats - price on application.

In addition to the Lessees costs there is:

1. The "Premium" established for Collective Enfranchisement, and
2. by law the Lessees have to pay the Landlord's reasonable legal & professional fees (and those of any intermediate landlord, if they choose to be separately represented)

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 for you.

Please note this fee includes a £200+VAT fee for a protectionary application to the First Tier Tribunal (Property Chamber) (formerly the First Tier Tribunal (FTT)) within the six month deadline from receipt of the counter notice. This application will not always be needed.

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 £200+Vat.

Right to Manage - Estimated Lessee Costs

	STEP 1	STEP 2	STEP 3	CONSULTANCY	TOTAL
	LEGAL011/027	LEGAL035	LEGAL035A	LEGAL034
	Set up RTM Company	Cost of serving participation notice	Cost of serving claim notice	6 months advice on process & set up for active management
1-10 Flats	£160 £10 per Flat Title Search Fees (if req'd)	£200	£250	£500	£1,110 plus searches
11-20 flats	£160 £10 per Flat Title Search Fees (if req'd)	£20 per Flat	£20 per Flat	£500	Depends on no. of Flats

Please note that we reserve the right to charge for our time at our hourly rates on a matter where there has been more than the usual amount of correspondence. We will charge two rates for such correspondence:

1. Technical legal advice (£200 plus VAT per hour)
2. Administrative advice (£80 plus VAT per hour)

Please note that the RTM Company is liable for the reasonable costs incurred by the Freeholder in reviewing the RTM claim notice and the validity of the claim.

Note that Ringley Legal will offer a 10% discount on their fees if Ringley Limited are appointed to manage the property upon acquiring the right to manage at the property.

Note

Should the landlord either:

1. be missing; or
2. issues a counter notice disputing the claim for Right to Manage.

Then an application to the First Tier Tribunal (Property Chamber) (formerly the First Tier Tribunal (FTT)) must be made for determination. The cost of the application is £500 plus VAT. we will charge on an hourly basis thereafter.

Court Appointed Manager

First Tier Tribunal (Property Chamber) - Estimated Lessee Costs

Costs are estimates and at the time a First Tier Tribunal (Property Chamber) (formerly the First Tier Tribunal (FTT)) application is being considered a formal fee quote would be given.

	Section 22 Notice	FTT Application Fee	Legal costs to lodge FTT Application	Attendance at FTT pre-trial review*	Case preparation & attendance at FTT hearing	ESTIMATED TOTAL
1-10 Flats	£300	£150/250	£500	£200/hr	£200/hr (e.g. 8 hrs = £1,600)	£2,750
11-20 flats	£300	£350	£500	£200/hr	£ 200/hr (e.g. 8 hrs = £ 1,600)	£ 2,950

*Please note a pre-trial review is not always needed. When they are needed they are usually less than an hour.

All the fees above (except the FTT Application fee) are exclusive of VAT.

Please note that we reserve the right to charge for our time at our hourly rates on a matter where there has been more than the usual amount of correspondence.

First Tier Tribunal (Property Chamber) - Estimated Lessee Costs

Costs are estimates and at the time a First Tier Tribunal (Property Chamber) (formerly the First Tier Tribunal (FTT)) is being considered a formal fee quote would be given.

	FTT Application Fee	Legal costs to lodge FTT Application	Attendance at FTT pre-trial review	Case preparation & attendance at FTT hearing	ESTIMATED TOTAL
	RECHARGE	LEGAL20C	LEGAL020C	LEGAL020C
1-10 Flats	£250	£200	£200 per hour, max £250	£200 per hour (e.g. 8 hours = £1,600)	£2,300
11-20 flats	£350	£200	£200 per hour, max £250	£200 per hour (e.g. 8 hours = £1,600)	£2,400
21-30 flats	£350	£200	£200 per hour, max £250	£200 per hour (e.g. 8 hours = £1,600)	£2,400
31-40 flats	£350	£200	£200 per hour, max £250	£200 per hour (e.g. 8 hours = £1,600)	£2,400

* 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 Lessee 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.

what's involved?

Taking control of your property

• Instruct our Estates Division to support you with advice and counselling 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

how much will cost?

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

A cheaper option for small blocks

Support for those who want to self manage from £525 per annum (depending on number of flats)

Visit www.leaseholdersupport.co.uk for more information.