Legal administration fees

As a shared owner, you must let bpha know if you wish to sell your share of the property.

You are required to enter into an agreement with bpha, known as a nomination agreement which allows bpha a set period to secure you a purchaser. There is a fee payable by the shared owner known as the nomination fee and this will usually be set out in your Lease.

Fee: Usually 1.5% + VAT of the share being sold, unless your lease specifi es otherwise.

If bpha are unable to sell your share by the end of the nomination period, you will be released from the nomination agreement and are then free to fi nd a local agent to sell your home, if you wish. You will still be required to pay a processing fee to bpha if you sell your home via an Estate Agent.

You are responsible for paying your Estate Agent and Solicitor fees. Processing Fee: £420 inc VAT

The Leasehold Property Enquiries Form (LPE1) is supplied by bpha to your solicitor upon request. If bpha is not the management company managing the maintenance of your building, you or your solicitor will need to contact the management company directly to obtain a management pack in addition to the LPE1.

Once a purchaser has been secured you may be subject to further administration fees.

Leasehold Property Enquiries Form (LPE1) Fee: £200 inc VAT (this is included within your nomination and processing fee)

Leasehold Property Enquiries Form (LPE1) 6 Month Update Fee: £100 inc VAT

Further Legal Enquiries Fee – Up to 20 questions: £100 inc VAT (this is included within your nomination and processing fee

Additional Resale Enquiries Fee: £50 inc VAT per enquiry

Leaseholders are subject to fees from the landlord to sell their property.

The fees payable depends on whether bpha are the landlord, the management company or in some cases both.

The Leasehold Property Enquiries Form (LPE1) is supplied by the landlord to your solicitor upon request and you will be required to pay for this. If bpha is not the management company managing the maintenance of your building, you or your solicitor will need to contact the management company directly to obtain a management pack in addition to the LPE1.

Any outstanding debt on your account is required to be cleared on completion of your sale.

Your buyers solicitor may request a retention of some of the completion funds to cover any additional costs for works that have been carried out and not yet charged.

Leasehold Property Enquiries Form (LPE1) Fee: £200 inc VAT

Leasehold Property Enquiries Form (LPE1) 6 Month Update Fee: £100 inc VAT

Further Legal Enquiries Fee – Up to 20 questions: £100 inc VAT

Additional Enquiries Fee: £50 inc VAT per enquiry

Freeholders may also be subject tofees by bpha to sell their home.

In this instance bpha would be the management company responsible for maintaining the communal areas near to your property.

The Freehold Management Enquiries Form (FME1) is supplied by bpha to your solicitor upon request and you will be required to pay for this. If bpha is not the management company managing the maintenance of the communal areas near your property, you or your solicitor will need to contact the management company directly.

Any outstanding debt on your account is required to be cleared on completion of your sale.

Your buyers solicitor may request a retention of some of the completion funds to cover any additional costs for works that have been carried out and not yet charged.

Management Pack (FME1) Fee: £200 inc VAT

Management Pack (FME1) 6 Month Update Fee: £100 inc VAT

Further Legal Enquiries Fee – Up to 20 questions: £100 inc VAT

Additional Enquiries Fee: £50 inc VAT per enquiry

Purchasers buying a New Build Shared Ownership property are subject to fees in addition to Legal and Mortgage arrangement costs.

It is important that you are aware that bpha’s solicitor may charge you for items as part of your purchase and you should discuss this with your solicitor as soon as possible.

The following fees are payable directly to bpha.

The reservation fee secures the property to you for a period that is set out with the Reservation Form. This fee will be deducted from your deposit when completing your New Build purchase.

If you decide not to proceed with your purchase after paying your reservation fee, bpha may deduct costs from the reservation fee. The remaining amount will be refunded to you.

Reservation Fee Form (LPE1): £750 inc VAT

Processing Fee: £100 inc VAT (this fee is non-refundable)

A converted Shared Ownership property is a property that has been previously tenanted, also known as Rent to Homebuy (RTHB)

When the tenant has informed bpha of their vacation, bpha may decide to sell the property as Shared Ownership.

It is important that you are aware that bpha’s solicitor may charge you for items as part of your purchase and you should discuss this with your solicitor as soon as possible.

These properties are largely ‘sold as seen’.

Processing Fee: £100 inc VAT (this fee is non-refundable)

An existing Shared Ownership property is a property that has been previously leased to a shared owner.

You buy your shares from the existing shared owner. You are subject to these fees in addition to legal and mortgage arrangement costs.

Notice of Transfer Fee: £85 inc VAT

Notice of Charge Fee: £85 inc VAT

Certificate of Compliance Fee: £85 inc VAT

A Leasehold Property is a purchase of a property for a fixed period.

You have a legal agreement with bpha (landlord/freeholder) called a lease.

This tells you how many years you will own the property for.

Notice of Transfer Fee: £85 inc VAT

Notice of Charge Fee: £85 inc VAT

Certificate of Compliance Fee: £85 inc VAT

Deed of Covenant Fee: £85 inc VAT

Even though you are acquiring the Freehold as part of your purchase, you may be subject to fees from bpha.

In this instance bpha would be the management company responsible for maintaining the communal areas near to your property.

Notice of Transfer Fee: £85 inc VAT

Notice of Charge Fee: £85 inc VAT

Certificate of Compliance Fee: £85 inc VAT

Deed of Covenant Fee: £85 inc VAT

Processing fees

Fees are payable against any transaction between you and bpha. It includes administrative costs and processing duties linked to each transaction type.

Staircasing Processing Fee: £200 inc VAT

Remortgage and Further Advance Processing Fee: £200 inc VAT

Transfer of Equity Processing Fee: £200 inc VAT

Lease Extension Processing Fee: £250 inc VAT

Deed of Variation Processing Fee: £200 inc VAT

Equity Loan Redemption Processing Fee: £200 inc VAT

Deeds and Certificates

Notice of Transfer: £85 inc VAT

Notice of Charge: £85 inc VAT

Certificate of Compliance: £85 inc VAT

Deed of Postponement: £85 inc VAT

It is important that you are aware that bpha’s solicitor may charge you for items as part of your transaction and you should discuss this
with your solicitor as
soon as possible.