Residential Conveyancing - Fees
Our pricing for sale, purchase or re-mortgage of a property
Our fees for a house sale, purchase or re-mortgage can range significantly as no transaction is the same and complications can arise during the matter which may impact the price stated. However, as a general guide to our fees, we have outlined below our typical costs to cover standard conveyancing work to complete the sale or 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*
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.
- Legal fees - may be charged on either a fixed fee basis (range from £300.00 to £5,000 (excluding VAT), or more on higher value properties, or an hourly rate basis. If hourly rates apply, these may range from £300.00 to £450.00 (excluding VAT). We may also charge on a % basis of the purchase or sale price which can range from 0.22% to 0.5%.
- Fees for acting for the mortgage lender - £650.00
- SDLT administration charge - £75.00 (if applicable)
- Electronic money transfer fee - £35.00 (excluding VAT)
- Ancillary costs such as photocopying, printing and other incidental expenses - £35.00 (excluding VAT)
- Search fees - £300.00-£500.00 (plus VAT if applicable) - Depends on location of property and type of search required
- HM Land Registry fee – see HMLR Fee Guide (this link opens on HM Land Registry website)
*Costs vary in each case and our fees will need to reflect the particular requirements of your sale or purchase. For example, dealing with a listed property or a leasehold flat may, because of the added complexities, cost more than dealing with a freehold property. However, we will always provide a reliable estimate of our costs when we have full details of the intended transaction and we will advise you immediately about any complication, and discuss the potential impact on price before any additional charges are incurred.
Anticipated disbursements** for Leasehold conveyancing
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 - £300.00
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00-£300.00
- 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 £150.00-£450.00
- Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £150.00-£450.00
- Licence to Assign if you are selling a typical leasehold property in central London. This depends on the freeholder's solicitor's charges and the fees are often between £750.00 and £1,750.00 (excluding VAT)
- Service Charge Deposit Deed if the freeholder needs the security of a down payment of service charges. It normally applies to flats on the large estates in central London and the fees are often between £750.00 and £1,750 (excluding VAT)
Referral/Fee sharing arrangement (if applicable)
- Londonwide Conveyancing £275-£300 (excluding VAT)
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 HMRC's website (or if the property is located in Wales by using the Welsh Revenue Authority's website here).
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have set out some key stages of the process:
- 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
- Draft the Transfer
- Advise you on joint ownership
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
How long will my house sale or 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 6-12 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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such a situation additional charges would apply.
How long will my leasehold sale or 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. It can be quicker or slower, depending on the parties in the chain. If you are buying a leasehold property that requires an extension of the lease, this can take significantly longer. In such, a situation additional charges would apply.
Our fee assumes that:
- This 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
The above costs are examples of our prices and not to be regarded as a binding quote. It is not an exhaustive list of all of our real estate services we offer our clients. Please note that an individual costs estimate is provided at the start of each transaction which will take into account the actual features of your sale or purchase.
Our real estate team has over 150 years collective experience in delivering high quality work in all matters relating to residential property work. For full details of our team, see below: