Residential Conveyancing Fees

Fees for Residential Conveyancing and what it includes.

Purchase of a freehold residential property

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.

Our fees for conveyancing:

Purchase price                                Fee
Up to £100,000                      £650 + vat
£100,001 – £200,000         £695 + vat
£200,001 – £300,000         £750 + vat
£300,001 – £400,000         £815 + vat
£400,001 – £500,000         £915 + vat
Over £500,000        Ask for quotation
*Our conveyancing fees cover the work under the “stages of the process” detailed below.

Disbursements

  • In addition to our conveyancing fee, the following disbursements apply:
  • Search fees approximately £300 depending on searches required
  • HM Land Registry fee based on Land Registry scale
  • Electronic Money Transfer fee £12 per funds transfer
  • Stamp Duty (see below)

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 and a number of different factors 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 for a £150,000 freehold purchase in Boston, where the title is already registered, including our conveyancing fees, vat and disbursements but excluding Stamp Duty:

Our fee                                                                                                             £695 (+ vat)
Search fees (local authority, drainage, water,                            £300 (estimated)
environmental, planning & flood risk if required)
HM Land Registry fee                                                                             £95
Electronic Money Transfer fee                                                          £12

Total                                                                                                                  £1241                                     

*Selling fees

If you are selling a property either separately or at the same time, the following additional fees will apply:

Selling price                                    Fee

Up to £100,000                    £650.00
                                                         + vat
£100,001 – £200,000        £695.00
                                                         + vat

£200,001 – £300,000        £750.00
                                                         + vat

£300,001 – £400,000          £815.00
                                                         + vat

£400,001 – £500,000         £915.00
                                                           + vat
£500000+             Ask for quotation

The following disbursements will be payable if you are selling:

Copies of the title:  £6-12 (estimated)

Electronic Money Transfer fee: £12 per transfer

How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your new home 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 as little as 6 – 8 weeks. However, if you need to arrange a mortgage, or are in a long chain, it can take considerably longer, 2 – 6 months, or sometimes longer, is not unusual

Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances.  Our conveyancing fees * detailed above include the following work:

Taking your instructions and giving you initial advice
Check finances are in place to fund purchase and contact lender’s solicitors if needed
Advising you on joint ownership
Drafting the transfer
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
The following factors will typically increase our cost of the service:

if the legal title is defective, or all or part of the property is unregistered
if we discover building regulations or planning permission has not been obtained
if crucial documents we have requested have not been provided. 

Fees for purchase or sale of a leasehold residential property

Our conveyancing fees are as for residential purchases above, plus an additional £200 + vat and disbursements as detailed above.

As with the purchase of a freehold property, our fees cover all the work* required to complete the purchase of your new leasehold home

Anticipated Additional Disbursements
Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 – £100.
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.
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 £100-£200.
Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50-£100.
*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.

You should also be aware that ground rent and service charges 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.

Estimated total for the purchase of a leasehold flat costing £150000 in Boston, where the title is already registered.

Our conveyancing fee:                                        £895 + vat

Search Fees (as with the freehold example)       £300 (estimate)                              

HM Land Registry Fee                                       £95 (depending on whether lease is on the whole or part of registered title)

Electronic money transfer fee                             £12

Possible additional costs depending on the individual lease as detailed above

Total estimated cost (not including stamp duty or anticipated additional disbursements)                                             £1481

As with freehold purchases, Stamp Duty is also payable on leasehold purchases depending on your circumstances and the purchase price.  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.

Stages of the process and how long will my residential leasehold purchase take?

The precise stages and timescale involved in the purchase of a residential leasehold property vary according to the circumstances. However, they are broadly similar to the purchase of a residential freehold property.  In addition we will check the terms of the lease and make enquiries of the management property where appropriate 

However, if you are buying a leasehold property that requires an extension of the lease, this extends the process by a significant length, possibly by as much as between 3 and 6 month, or sometimes longer. In such a situation, additional charges would apply.

Sale of Leasehold Properties.

Our conveyancing fees for the sale of a leasehold property whether carried out at the same time or separately are the same as our scale of fees for freehold purchases detailed above.

In addition, the following disbursements will apply for leasehold property sales:

Disbursements
Enquiries of the freeholder and/or management companies    £200 + vat (estimated)
Land Registry Title fees including copy of the lease                    £12
Estimated total for the sale of a leasehold property with a selling price of £150,000:

Our conveyancing fees:                                                          £895 + vat

HM Land Registry fee                                                            £12

Electronic Money Transfer fee                                               £12 (per transfer)

Enquiry fees (as above)                                                           £200 + vat (estimated)

Total                                                                                        £1338

* 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.
that the legal title is not defective or part of the property is unregistered
that building regulations or planning permission have been obtained
crucial documents we have requested are provided. 

Fees for remortgages

A standard remortgage                                               £395 + vat & disbursements

Remortgage with 2 or more mortgages to discharge: An additional £50 for each extra additional mortgage or charge.

Remortgage to include transfer of equity                   £450 + vat & disbursements

Disbursements         

Search fees (depending on the lenders requirements)

Land Registry fee                                                       £20 – £125 (depending on value      of mortgage)

The timescales for remortgages are likely to be shorter than the purchase of properties, but will depend on whether there is a mortgage offer in place, and that all parties to the mortgage are willing and able to proceed.