Residential Conveyancing Costs
You can use our Conveyancing Costs Calculators, which we have had available on our website for over 20 years, to see the fees and other costs you can expect to pay on the typical purchase, sale or re-mortgage of residential property in England. Select the calculator required.
Please do get in contact with us should you wish to discuss the quote.
What Does the Fixed Fee Include?
Our fixed fee will include:
Included in sale quote
- Checking the title and assisting you with the property information forms which need to be provided to the buyer.
- Confirm our instructions to the buyer’s solicitor and provide a draft contract package.
- For leasehold properties apply to the landlord/ management company for their assignment pack and provide this to the buyer’s solicitor.
- Dealing with your lender in connection with the redemption of a first mortgage
- Reply to any pre-contract enquiries raised by the buyer’s solicitor.
- Once all enquiries have been satisfied, exchange contracts
- Dealing with the usual pre-completion formalities including with regard to signing of documents and preparation of financial statements
- Complete this transaction, including redemption of any existing first mortgage against the property and send to you the balance of sale proceeds.
Included in purchase quote
- Confirm our instructions to the seller’s solicitor and request a draft contract package.
- Submit pre-contract searches and review them.
- Review the contract documents including those relating to the title and the lease (if applicable)
- Making any necessary additional enquiries of the seller’s solicitor where further information is required.
- Review your mortgage offer and report to you on the same.
- Prepare and send to you a detailed report on the important legal matters affecting the property.
- Exchange of contracts and associated work including preparation of a draft transfer.
- Usual pre-completion work including reporting to your lender and requesting mortgage funds, carrying out priority searches and dealing with the signing of documents.
- Preparing a detailed financial statement to show the balance of money required from you
- Completion of the transaction and associated formalities,
- Usual post completion formalities including registration of the transfer at the Land Registry, preparation/submission of the SDLT return and for leasehold properties giving notice to the freeholder/managing agent of the transfer and of any first mortgage.
- Sending you a copy of the new Land Registry title document once you have been registered as the new owner.
Included in re-mortgage quote
- Confirming instructions with your lender.
- Undertaking the usual searches required by the lender.
- Where the property is leasehold, requesting a management pack from the freeholder/managing agent.
- Review your mortgage offer and report to you on the same.
- Review the title documents for mortgage security purposes including the lease ,where applicable
- Dealing with the lender’s requirements and once theseare satisfied set a date to complete the mortgage and request funds
- Liaise with any existing first lender with regard to the redemption of a first mortgage.
- Deal with other usual pre-completion formalities including with regard to the signing of documents and the preparation of a financial statement showing the balance of funds to be released to you.
- Completing the re-mortgage and reporting to you
- Usual post completion formalities including registration at the Land Registry and for leasehold property giving notice of the new mortgage to the freeholder/managing agent.
- Sending you a copy of the new register of title once registration of the mortgage has been completed.
The following are examples of optional services or those which are not always required will attract an additional fee of which an estimate is given below:
- Tax advice – based on the individual circumstances.
- Review of additional searches - £50 plus VAT.
- Licence to Assign - £200 plus VAT.
- Rent Deposit Deed - £200 plus VAT.
- Declaration of Trust - £350 plus VAT.
- Exclusivity Agreement - £500 plus VAT.
- Deed of Covenant - £150 plus VAT.
- Provision of hard copy Report on Title - £45 plus VAT.
- Retention for excess service charges– £195 plus VAT.
- Fees for registering contract at Land Registry - £50 plus VAT.
- Fees for registering an anti-fraud restriction - £50 plus VAT.
- Expedited exchange of contracts or completion - £350 plus VAT
- Where there is a second mortgage or other financial charge either to redeem on a sale or to be taken on a purchase. We will provide an estimate once we have all the details including whether it is a private mortgage or one from an institutional lender, whether the lender is represented by another solicitor and the lender’s requirements
How long does the process take?
On average freehold transactions will take 6-8 weeks and leasehold transactions 8-10 weeks to complete, from the date of instruction. There will be a further 4 weeks to deal with the post completion work. The timescale can vary depending on various factors such as how easy or quick it is to obtain all relevant information and if there is a chain.
These timescales assume that there are no unexpected complications or delays
In addition to your solicitor’s fees the quote also shows the usual disbursements which are payable on standard purchases of residential property in England and Wales. Please see more details about the main legal disbursements below.
Stamp Duty Land Tax
Stamp Duty Land Tax is payable in respect of a purchase only where the price exceeds £125,000. This is calculated at a rate dependent on the price of the property and only on any amount over £125,000:
|Value - £||SDLT Rate|
|0 – 125,000||0%|
|125,001 – 250,000||2%|
|250,001 – 925,000||5%|
|925,001 – 1,500,000||10%|
Additionally, if the property is purchased by a company and the purchase price is over £500,000 the Stamp Duty Land Tax will be calculated at a rate of 15%.
If any buyer or their spouse owns an interest in another residential property (whether in the UK or abroad) then Stamp Duty Land Tax will be payable if the purchase price is over £40,000 and 3% extra Stamp Duty Land Tax will be added to the rates above.
We would note that there is some tax relief for first-time buyers.
NB If the purchase involves the grant of a new lease, additional duty may be payable on the ground rent reserved.
Land Registry Fees
Almost all transactions are subject to registration at the Land Registry.
The latest Land Registry Fee scale is as follows:
|VALUE - £||REDUCED LAND
REGISTRY FEE PAYABL
|0 - 80,000||£20||£40|
|80,001 - 100,000||£40||£80|
|200,001 - 500,000||£135||£270|
|500,001 - 1,000,000||£270||£540|
Where the transaction is not a simple purchase e.g. a transfer of equity a separate scale of fees applies.
For transfers of whole where the application is made electronically the fee is reduced. We submit applications electronically so as to obtain the best rate for our clients.
Local Authority Search
This is a search of the records of the local authority relating to the property. The cost depends on the council concerned but is typically around £200. On average it takes about 2-3 weeks to obtain the results of a search but some take much longer. Where possible we will obtain a personal search, with a search agent obtaining the information from the Local Authority, which costs around £95 in order to keep the costs as low as possible for our clients.
A drainage search is undertaken with the water authority. The cost depends on the authority, but is likely to be in the region of £60.
A flood search costs £30.
Environmental searches if required cost in the region of £60.
Other searches may be necessary depending on the location of the property e.g. Commons Registration Search in rural areas.
On Land Charges Bankruptcy searches per name £2
Land Registry Search Fee (per title) £3
In leasehold purchases there is usually a requirement to pay a fee to the landlord/managing agent to register the change of ownership of the buyer and details of any new mortgage with them. The fee payable can vary considerably as it depends on the particular Lease (or charging policy of landlord) and can be between £60 to £75 per notice.
There may be other minor disbursements depending on the particular transaction.