Residential Conveyancing Pricing Information
Residential conveyancing
We offer a bespoke conveyancing service which takes account of – amongst other things – our client’s individual circumstances and requirements, the value of the property involved, and the complexities of the transaction. Our fee for a typical house purchase or sale range from around £995.00 plus VAT for a straightforward purchase of a lower value property to upwards of £4,000.00 plus VAT for the purchase of a high value unregistered property with unusual legal complexities.
Our fee will depend upon:
- The value and location of the property
- The number of parties involved
- Whether the property is registered at HM Land Registry
- If the property is a new build or is part of a conversion
- The complexity of the title
- The financing of the purchase
As you will appreciate, the fee we charge varies from client to client and we are always happy to provide a detailed, bespoke quotation upon application.
Where applicable, VAT is charged at the prevailing rate which is currently 20%.
The fee we charge covers all of the work* required to complete the purchase of your new property and/or the sale of your existing property, 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.
Below we set out examples of the typical fees and disbursements arising in the purchase of a freehold residential property, the purchase of a leasehold residential property, the sale of a freehold residential property, the sale of a leasehold residential property, and remortgages. The examples given are illustrative only based on an average conveyancing transaction. They do not constitute an offer but only an invitation to treat.
Purchase of a freehold residential property
Fees and disbursements
- Legal fee: £1,495.00 (this fee depends on the purchase price of the property, whether the property is registered or not at HM Land Registry, your finance arrangements, your requirements, and the complexities of the transaction. A bespoke quotation is available upon application)
- Search fees: c.£500.00 (the exact figure depends on the location of the property)
- HM Land Registry fee: c.£295.00 (this depends on the purchase price of the property and whether it is already registered at HM Land Registry)
- Electronic money transfer fee: £30.00
- VAT payable £305.00
- Estimated total: £2,625.00
Disbursements are costs related to your matter that are payable to third parties, such as HM Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the calculator on HMRC’s website (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the calculator on the Welsh Revenue Authority’s website (https://www.gov.wales/land-transaction-tax-calculator).
How long will my house purchase take?
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 and 8 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 8 to 10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include, all of which are included in our fee:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty Land Tax
- Deal with application for registration at Land Registry
Purchase of a leasehold residential property
Fees and disbursements
- Legal fee: £1,595.00 (this fee depends on the purchase price of the property, whether the property is registered or not at HM Land Registry, your finance arrangements, your requirements, and the complexities of the transaction. A bespoke quotation is available upon application)
- Search fees: c.£500.00 (the exact figure depends on the location of the property)
- HM Land Registry fee: £295.00 (this depends on the purchase price of the property and whether it is already registered at HM Land Registry)
- Electronic money transfer fee: £30.00
- VAT payable £325.00
- Estimated total: £2,745.00
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. 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.
Anticipated Disbursements
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £100.00 and £200.00.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £100.00 and £200.00.
- 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 £100.00 and £200.00.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, it can range between £100.00 and £200.00.
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.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the calculator on HMRC’s website (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) or if the property is located in Wales by using the calculator on the Welsh Revenue Authority’s website (https://www.gov.wales/land-transaction-tax-calculator).
How long will my house purchase take?
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 and 8 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 8 to 10 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include all of which are included in our fee:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty Land Tax
- Deal with application for registration at Land Registry
Sale of a freehold residential property
Fees and disbursements
- Legal fee: £1,295.00 (this fee depends on the sale price of the property, whether the property is registered or not at HM Land Registry, your requirements, and the complexities of the transaction. A bespoke quotation is available upon application)
- HM Land Registry copy document fee: £20.00
- Electronic money transfer fee: £30.00
- VAT payable £265.00
- Estimated total: £1,610.00
How long will my house sale take?
How long it will take from your accepting the buyer’s offer until completion of the sale will depend on a number of factors. The average process takes between 6 and 8 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a first time buyer, it could take 8 to 10 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include, all of which are included in our fee::
- negotiating a sale contract;
- negotiating a transfer deed;
- assisting you with the preparation of replies to the buyer’s enquiries;
- liaising with your mortgage lender to obtain title documentation and a redemption statement;
- proceeding to exchange of contracts and then completion of the sale;
- receiving completion funds from the buyer’s solicitors and accounting to you with the net sale proceeds;
- redeeming your mortgage on completion of the sale;
- discharging your estate agent’s invoice on completion of the sale; and
- keeping you advised as to progress.
Sale of a leasehold residential property
Fees and disbursements
- Legal fee: £1,295.00 (this fee depends on the sale price of the property, whether the property is registered or not at HM Land Registry, your requirements, and the complexities of the transaction. A bespoke quotation is available upon application)
- HM Land Registry copy document fee: c.£20.00
- Electronic money transfer fee: £30.00
- VAT payable £265.00
- Estimated total: £1,610.00
Anticipated Disbursements
- Management Pack fee – This fee if chargeable is set by the freeholder/management company. Often the fee is between £100.00 and £500.00.
How long will my house sale take?
How long it will take from your accepting the buyer’s offer until completion of the sale will depend on a number of factors. The average process takes between 6 and 8 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a first time buyer, it could take 8 to 10 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include, all of which are included in our fee:
- negotiating a sale contract;
- negotiating a transfer deed;
- assisting you with the preparation of replies to the buyer’s enquiries;
- liaising with your mortgage lender to obtain title documentation and a redemption statement;
- proceeding to exchange of contracts and then completion of the sale;
- receiving completion funds from the buyer’s solicitors and accounting to you with the net sale proceeds;
- redeeming your mortgage on completion of the sale;
- discharging your estate agent’s invoice on completion of the sale; and
- keeping you advised as to progress.
Remortgage of residential property
Fees and disbursements
- Legal fee: £895.00 (this fee depends on the remortgage value of the property, whether the property is registered or not at HM Land Registry, your requirements, and the complexities of the transaction. A bespoke quotation is available upon application)
- HM Land Registry copy document fee: £20.00
- HM Land Registry fee: £40.00 (this depends on the purchase price of the property and whether it is already registered at HM Land Registry)
- Electronic money transfer fee: £30.00
- VAT payable £185.00
- Estimated total: £1,170.00
*Our fee assumes that:
- yours is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- this is the assignment of an existing lease and is not the grant of a new lease.
- the transaction is concluded in a timely manner and no unforeseen complication arise.
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
If your transaction is non-standard it may affect our fee; please get in touch for a quotation.
Extras
Below we give some examples of types of work that may be required by the transaction or the client but that are not included in our fee estimates laid out above:
- Preparation of a deed of gift where funds are gifted to the purchaser.
- Remedying a defect in the property title.
- Dealing with unregistered property.
- Grant of a new lease or a lease extension.
- Drafting a statutory declaration.
- Extra work dealing with properties captured by BSA 2022.
- Preparation of a deed of trust to document how the property is to be held between joint owners.
- Dealing with second charges, bridging finance or business loans.
If additional work is required on your transaction we will always discuss any extra costs before undertaking the work.
Sam Buchanan will manage all conveyancing matters.