What you may have to pay
Our conveyancing fees for our work on a typical property sale, purchase or remortgage starts from around £1,200 (including VAT of £200) and with an average of about £1,500 (including VAT of £250). You may also have to pay an electronic money transfer fee of £48 (including VAT of £8) and £7.20 (including VAT of £1.20) if we need to verify your identity electronically.
The actual fees you pay may be higher than the average if the matter is or becomes complicated. Examples of complications are: the property is leasehold; the title is defective; part of the property is unregistered; you are buying a new build property; if we discover planning permission was not obtained to build an extension; the solicitors acting for the other party do not provide us with information or important documents we need; you do not provide us with information or important documents we need to carry out our work for you.
Our residential conveyancing fee is calculated on the basis of many factors including – for example, the time we spend on your matter multiplied by an hourly rate; the value of the property; the complexity of the issues; the speed at which action must be taken; the expertise or specialist knowledge required.
You may also have to pay other conveyancing expenses. They may include the expenses in italics if the property is a flat. The figures and total cost below are an estimate only and assume the property:
- Is in the Medway towns;
- Is valued at £350,000;
- If you are buying it, there are two of you and you need a mortgage; and
- If you are remortgaging it, there are two of you.
Sale
| Expense |
Amount (£) |
+VAT (£) |
| Land Registry charges |
6.00 |
+1.20 |
| Leasehold information pack |
500.00 |
+100.00 |
Therefore, the total estimated cost you may have to pay (including our average fee of £1,500 (including VAT of £250 but not including any of the expenses in italics) is £1,507.20. If appliable you may also have to pay an electronic money transfer fee of £48 (including VAT of £8) and £7.20 (including VAT of £1.20) if we need to verify your identity electronically.
Purchase
| Expense |
Amount (£) |
+VAT (£) |
| Stamp Duty Land Tax |
5,000.00* |
+0.00 |
| Property searches |
292.00 |
+58.40 |
| Land Registry charges |
157.00 |
+1.40 |
| Lawyer Checker |
18.00 |
+3.60 |
| Landlord registration fee |
500.00 |
+100.00 |
*IMPORTANT: Stamp Duty Land Tax can be complicated to work out. Therefore, please contact us for a calculation for your transaction. For general guidance only, you may wish to visit https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro if the property is in England and https://www.gov.wales/land-transaction-tax-calculator if the property is in Wales.
You may have to pay ground rent and service charge while you own the property.
Therefore, the total estimated cost you may have to pay (including our average fee of £1,500 (including VAT of £250 but not including any of the expenses in italics) is £7,030.40. If applicable you may also have to pay an electronic money transfer fee of £48 (including VAT of £8) and £7.20 (including VAT of £1.20) if we need to verify your identity electronically.
Remortgage
| Expense |
Amount (£) |
+VAT (£) |
| Property searches |
292.00 |
+58.40 |
| Land Registry charges |
58.00 |
+2.60 |
| Leasehold information pack |
500.00 |
+100.00 |
Therefore, the total estimated cost you may have to pay (including our average fee of £1,200 (including VAT of £200 but not including any of the expenses in italics) is £1,611.00. If applicable you may also have to pay an electronic money transfer fee of £48 (including VAT of £8) and £7.20 (including VAT of £1.20) if we need to verify your identity electronically
The final figures may be different for you. Therefore, please contact us to discuss a specific cost estimate for your conveyancing needs.
What work we will do for you
While no sale, purchase or remortgage is the same most contain one or more of the following stages:
- Reviewing title deeds;
- Liaising with third parties – for example, estate agents, your seller / buyer’s solicitor;
- Negotiating a contract;
- Gathering information from you and third parties – for example, the council, a landlord;
- Advising you on our work and any document we invite you to sign;
- Paying and receiving money on your behalf – for example, paying Stamp Duty Land Tax; and
- Applying to the Land Registry to change the title deeds.
Our residential conveyancing services do not involve surveying or visiting a property, offering you tax or financial advice, or advising on planning issues about a property other than reporting to you on any information provided by the seller or local council.
How long will the conveyancing take?
On average the conveyancing process will take 12-16 weeks. While we will do our best to help you achieve your preferred moving/completion date, factors that may affect the time it takes are – for example:
- How quickly the seller answers any questions we ask them;
- The number of parties in the chain;
- How quickly you and any landlord provide us with information or documents we ask for; and
- The date when your mortgage lender issues their mortgage offer.
Who will work for you?
Collectively, our conveyancing solicitors have many years experience working with residential property. Therefore, you can be confident the person working for you will deliver an efficient and quality service. All of our conveyancing solicitors are supervised by our partner, Mark Smith.
This information is for general guidance only as no sale, purchase of remortgage is the same. Therefore, we invite you to contact us to discuss your conveyancing needs.
