Conveyancing Fees Explained
When you buy or sell a property in England or Wales, there are certain legal processes that you have to go through. This is known as Conveyancing.
How much the conveyancing fee is will depend on whether you are buying or selling and some other factors. These include buying a leasehold property or using a Help to Buy scheme. These things usually mean that the conveyancing fee is higher.
In our guide to conveyancing fees below, we’ve broken down the types of costs you’ll get throughout the conveyancing process, which should give you a better understanding of what you are paying for.
Our Conveyancing Solicitors offer free initial advice and you can get an instant conveyancing quote online now.
Guide to Conveyancing Fees
The conveyancing process can be complicated at times. This is because it involves coordinating different people. Often, there isn’t just you and the seller. There’s a whole chain of other people, their Conveyancing Solicitors, mortgage lenders and estate agents, potentially with conflicting priorities. Then you add in the legal processes involved in the conveyancing process and it becomes clearer the value you get from your conveyancing fees.
Conveyancing fees can be split into two parts:
- The legal fees. These are the charges by the Conveyancer for the work they do, and
- The disbursements. This is a legal term for any additional costs that are paid to an external company as part of the conveyancing process. They include things like property searches and land registry fees.
Conveyancing fees do vary, usually depending on the price of the property. It’s important to remember to factor in the additional cost of disbursements. Some Conveyancers will include these as standard in your quotation and some won’t. Make sure you’re clear about how much you’ll actually pay so you can budget enough money to cover all your conveyancing costs. It’s always best to get 3 or 4 conveyancing quotes and compare them like-for-like as some may have hidden costs.
If you are using the Help to Buy scheme, because of the extra legal work involved there are additional costs of around £200 - £300.
Disbursements are additional costs you’ll have pay if you’re buying a property. Here are some of the most common disbursements you might typically see.
Getting a copy of the Title of Deeds from the Land Registry is vital if you are selling a property. This costs around £6.
Conveyancing searches include local authority and environmental searches, among others. We charge £300 for standard searches. You can check with your Conveyancer which searches are needed.
Bank Transfer Fee
Bank transfers are used to transfer the funds from buyer to seller and guarantee that the money is paid on the agreed day. The cost is usually between £20 and £30.
Stamp Duty Land Tax
If the property you are buying costs more than £125,000, you’ll have to pay Stamp Duty. For complete details see What is Stamp Duty Land Tax.
This is done by the Land Registry and the cost will depend on the value of your property.
You will need to instruct a Conveyancer when you’re buying or selling property. Most people are buying with a mortgage and using a Conveyancer is always a condition of the mortgage.
The range of fees between Conveyancers can be very different, but it’s really important to be clear exactly what you’re paying for from the outset.
Many conveyancing firms offer ‘fixed fees’ but when you look at the small print, these fees don’t include everything you have to pay for. That usually means you get a surprise additional bill at the end of the process, which you won’t have budgeted for.
Make sure that you are 100% clear about what’s included and what’s not when you’re comparing quotes and remember, a cheap conveyancing quote isn’t always the best option.
Talk to a Conveyancing Solicitor
Our Conveyancing Solicitors pride themselves on giving a professional and friendly service.
Our national team of Conveyancers and Conveyancing Solicitors offer clear and practical legal advice on all parts of the conveyancing process.
Whether you’re a first time buyer, moving into your forever home or making a buy-to-let investment, we’ll make sure the conveyancing process moves as quickly and as smoothly as possible.
We offer a fixed fee conveyancing quote and we guarantee our fees are transparent, with no hidden costs.
We provide a No Sale, No Fee conveyancing service. This means if you don’t exchange and complete, we won’t charge you legal fees for the work we’ve done. You will only need to pay for any disbursements already paid out on your behalf.
Simpson Millar is a national law firm with over 500 staff and offices in Bristol, Cardiff, Lancaster, Leeds, Liverpool, London - Euston, London - Fleet Street, London - Teddington, Manchester and Southport.