Residential Conveyancing Costs
Costs for residential conveyancing can vary depending on your requirements. The table below is a guide to the fees that we would normally charge for different aspects of conveyancing. When we discuss your specific requirements at the beginning of the matter, we will give you a fixed costs fee to which VAT and disbursements will need to be added. We will inform you of the likely disbursements specific to your transaction at that time. In exceptional circumstances, our fees may be higher than the highest amount given in the table or lower than the lowest amount given. Again, we will discuss this with you when giving you our fixed fee quotation.
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Our fee will be determined by a number of factors such as the value of the property and whether there is a mortgage to arrange or redeem. For example a freehold sale of a property with a lower value and a mortgage to redeem would usually have costs in the region of £1,850 plus VAT, whereas a leasehold purchase of a very high value property with a mortgage would usually have costs in the region of £2,500 plus VAT.
In exceptional circumstances, where we need to do much more work than could reasonably have been anticipated at the outset in order to meet your requirements, it may be necessary to charge you more than the fee agreed at the outset of the matter. In such circumstances, we will always agree this with you in advance of the additional fee being incurred.
Who Will Carry Out The Work For You
The members of our Firm that undertake Residential Conveyancing work are Graham Morrison-Wood and Stuart Turney who are both Directors of the Firm. Graham is a Senior Solicitor and Stuart is a Chartered Legal Executive. They both have many years of experience in Residential Conveyancing work.
Below are some examples of disbursements that could be incurred for conveyancing work, which you are liable to pay in addition to our fees. Where we give a range of fees below, we will let you know exactly what you can expect to pay when we give you our fee quotation. If this changes at any time during the matter, we will let you know.
- Searches – The Searches fee will depend on what searches are required but the average amount is £500 inclusive of VAT
- Land Registry fees are based on the purchase price or remortgage amount. For freehold or leasehold purchases Land Registry fees can vary from £20 to £455 but the average is £270. For freehold or leasehold remortgages, Land Registry fees can vary from £20 to £125 but the average amount is £60. Land Registry fees are not subject to VAT.
- For leasehold sales and leasehold remortgages there will be a fee charged by the management company and/or the freeholder to provide the leasehold sales pack which must be provided to the buyer’s solicitor. In our experience these can range from £100 to £500 plus VAT but the average is £250 plus VAT.
- For leasehold purchases and leasehold remortgages there will be a landlord’s registration fee charged by the management company and/or the freeholder for registering the transfer and/or new mortgage with them. In our experience these can range from £50 to £400 plus VAT but the average is £150 plus VAT.
- Bank transfer fee – For every bank transfer we make we charge £35 plus VAT. Examples of when we would charge this fee include when we send funds to a lender to redeem a mortgage, sending funds to the seller’s solicitor on completion of a purchase and sending funds to our client if there is a surplus amount from a sale.
VAT is currently 20%.