Conveyancing Fees

Our fees cover all of the work* required to complete the 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

  • Legal fee £500.00 subject to variation depending upon the work involved. A precise quotation for legal fees will always be supplied in each particular case, prior to any work being undertaken on your behalf.
  • Search fees £240.00 subject to upward or downward variation depending on the matter concerned. Again, a detailed breakdown will be supplied to you once the nature of the matter is known and before any work is undertaken.
  • HM Land Registry fee averages at £135.00, however this is set by the government and entirely dependent upon the purchase price.
  • Electronic money transfer fee £55.00
  • VAT payable 20% except for HM Land Registry fees.
  • Subtotal £1089.00

Referral fees are only charged in very exceptional circumstances. On the rare occasions this is the case, such fees will amount to no more than £100.00 + VAT, payable to introducing agents and you will be given notice of this before you agree to instruct us.

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.

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.

Estimated total £1089.00 as above.

When purchasing a new-build property from a developer, you will usually be required to pay to the builder’s solicitors a fee for preparing the necessary documents, on average £200+VAT.

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 approximately 3 months.

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, or of course longer if it hasn’t yet been built!

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:

  • 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

When purchasing a leasehold property, a good deal of additional work is usually required. This again depends upon the nature of the particular transaction, but on average our costs will increase by £200.00 + VAT and the following disbursements may be incurred:

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50-£100.00.
  • 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-£100.00.
  • 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 £50-£100.00.
  • Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50-£100.00.

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.

If you are selling a leasehold property with a management company, you may well be required to pay for a management company pack, detailing insurance, service charge history and a wide range of other matters. Management companies often charge over £300.00 + VAT for this service.

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.

The fees we have estimated for leasehold work assume the following:

  • 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.

If you wish to use an online quote calculator for residential conveyancing

Below is list of things you may wish to consider if you use an online quote calculator for conveyancing matters. You could, if you wish, build questions to find out the following information:

  • value of the property
  • first-time buyer
  • re-mortgage
  • freehold or leasehold
  • new build
  • first registration of title
  • whether a mortgage or not, or Islamic mortgage
  • in purchase cases, whether primary residence, buy to let or second/holiday home
  • multiple owners
  • shared ownership scheme
  • using a help to buy scheme, and whether it is an equity loan or ISA
  • purchase under right to buy
  • purchase at auction
  • property has been repossessed

NB: This list is not intended to be exhaustive. The important point is that the information you request should generate the total cost. Please note that any disbursements (save for SDLT/LTT) should be included in the total cost quoted to consumers.


 

 James Hueston & Stephen Rosbottom are directors of Lane & Co. Services Ltd
(Reference to members or directors of this firm includes Partners)
Company Registration No: 6125734. VAT Registration No: 302 3256 11
Registered Office: St George's House, 101 St George's Place, Cheltenham GL50 3QZ
Lane & Co. is authorised and regulated by the Solicitors Regulation Authority no. 00053591
http://www.sra.org/solicitors/handbook/code/content.page


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