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Covid Regulations and the Property Market
Bethan Owen
Real Estate has been at the core of Kingsley Napley’s business since 1937. The team provide specialist advice on real estate and construction matters but remain focused on their clients' objectives. They take a commercial approach to transactions to ensure that their clients’ commercial aims and risk profiles are achievable.
The team are listed in the legal directories and are noted for “commitment to getting transactions completed in the most expeditious and advantageous way possible for our clients” and for being “extremely responsive and commercial”. For a snapshot of some of the transactions that our clients are able to disclose, please see our Recent Transactions page.
We act for a variety of clients including developers, entrepreneurs, high net worth individuals, celebrities, banks, investors, landlords and tenants across commercial property transactions, development projects and high value residential sales and purchases.
No two property transactions are the same; the aim of the parties is to ‘get the deal done’ but at the right price with the right risk profile. The team here at Kingsley Napley are able to guide clients through the process and problem solve. We provide robust advice. We take a proactive and creative approach to finding solutions when required.
We understand that the stakes and associated pressure on a transaction can be very high, in such situations you need considered strategic and tactical advice, often within a tight deadline. Getting the best deal for you is our priority, whether that means negotiating a saving or acting quickly with pragmatic commercially focused advice to secure your site.
We get under the skin of each individual transaction and our advice focuses on finding pragmatic solutions to complex transactions with the overriding aim of doing everything possible to achieve the right result for our client.
On occasion, you may require expertise from other practice areas of our firm, these include company and commercial, dispute resolution, private client, and our immigration team.
Our experienced team of solicitors is recognised by the legal directories Chambers UK and Legal 500.
The team works well together - everyone I tend to work with is highly competent, commercially driven and able to understand and implement complex transactions."
Chambers and Partners UK, A Client's Guide to the UK Legal Profession, 2020
They are all very client-focused, knowledgeable and approachable. They work together as a very strong team of partners.”
Chambers and Partners UK, A Client's Guide to the UK Legal Profession, 2018
I always enjoy working with them, they are just easy to deal with. It's a nice good team of people."
Chambers and Partners HNW Guide, A Client's Guide to the UK's Leading Solicitors, 2018
Their commerciality is excellent, their service and availability are good and their individual lawyers punch above their weight"
Chambers and Partners High Net Worth , A Client's Guide to the UK's Leading Solicitors, 2018
They are all very client-focused, knowledgeable and approachable."
Chambers and Partners High Net Worth , A Client's Guide to the UK's Leading Solicitors, 2018
approachable and friendly"
Chambers and Partners High Net Worth , A Client's Guide to the UK's Leading Solicitors, 2018
Proficient in a broad range of commercial and residential property matters, with significant recent activity in portfolio acquisition work. Wider strengths include representing corporate property occupiers, acting on subsales and handling real estate financing work."
Chambers and Partners UK, A Client's Guide to the UK's Leading Solicitors, 2017
Extremely responsive and commercial’, Kingsley Napley LLP’s client base is largely entrepreneurial, comprising investors, traders and developers."
The Legal 500 UK
Most of our services are offered on an hourly rate basis and as many of our clients’ matters are complex and often involve multiple parties, there is rarely a typical case. Our clients are given an estimate of costs after our initial meeting or as part of the engagement process. There are some areas where we are able to be more indicative and, as 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.
Real Estate has been at the core of Kingsley Napley’s business since 1937. The Real Estate team advises on the sale and purchase of a whole range of residential property in all parts of the country. Our aim is to ensure the matter proceeds as quickly and smoothly as possible.
We have particular experience of dealing with substantial London houses and apartments (including new build property).
We are ranked at Tier 3 in the Legal 500 for residential property and band 4 in the Chambers High Net Worth Guide.
We have 9 members of the team who may work on your matter. Any Associate working on your matter will be supervised by a Partner in the Real Estate department.
The key personnel in the Real Estate department are:
Our fee covers all the work required to complete the purchase of your property, including advising you on any funding from your bank, dealing with registration at the Land Registry and dealing with payment of Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.
We base our fees for standard purchases on the following scaled rates:
The above does not apply to the purchase of new build houses and apartments, for which our scaled rates are:
Our fees are exclusive of Value Added Tax (currently 20%) and disbursements.
Our fee does not include tax advice, other than in connection with the payment of SDLT except where specialist advice is required due to the nature of the property (e.g the property is mixed use or a multiple dwelling). If you do require tax advice on how to structure your purchase we have a tax consultant who can provide advice.
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
If you are buying a leasehold property there are certain disbursements which will be set out in the individual lease relating to the Property. The additional leasehold disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website.
The precise stages involved in the purchase of a residential freehold and leasehold property vary according to the circumstances. The stages involved for buying a freehold or leasehold property and our scope of work includes:
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 4 weeks to exchange. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months to exchange. In such, a situation additional charges would apply.
Our fee covers all the work required to complete the sale of your property, including repaying any loan to a bank.
We base our fees for standard sales on the following scaled rates:
Our fees are exclusive of Value Added Tax (currently 20%) and disbursements.
Disbursements are costs related to your matter that are payable to third parties, such as landlord’s fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
The precise stages involved in the sale of a residential freehold and leasehold property vary according to the circumstances. The stages for selling a freehold or leasehold property and our scope of work includes:
Our fee covers all the work required to complete the mortgage or re-mortgage of your property, including advising you on any funding from your bank and dealing with registration at the Land Registry.
We base our fees for mortgages or re-mortgages on the following scaled rates:
Our fees are exclusive of Value Added Tax (currently 20%) and disbursements.
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
If you are mortgaging or re-mortgaging a leasehold property there are certain disbursements which will be set out in the individual lease relating to the Property. The additional leasehold disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
The precise stages involved in the mortgage or re-mortgage of a residential freehold and leasehold property vary according to the circumstances. Our scope of work and stages involved for the mortgage or re-mortgage of a freehold or leasehold property includes:
How long it will take from your mortgage offer being accepted until we complete the mortgage will depend on a number of factors. The average process takes between 4 - 8 weeks. It can be quicker or slower, depending on the banks requirements.
personable, highly efficient’ and ‘knowledgeable"
The Legal 500 UK, 2021
Highly professional and provides excellent customer service"
Chambers and Partners UK, A Clients Guide to the UK Legal Profession, 2020
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The team has extensive experience of acting for high-net-worth individuals and those in the public eye. These can be some of the most challenging clients to work for. Not only do they have the expertise in this area, they are adept at handling such clients and matters sensitively, with utmost discretion and with a very genuine personal touch."
The Legal 500 UK, 2021
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