Conveyancing Fees
These are the fees you pay your solicitor for carrying out the legal work for your property transaction. It may seem like a minefield but we’re here to help. It can be tempting to just go for the cheapest quotation but an experienced professional that won’t let you down is money well spent.
Every Conveyancing transaction differs depending on the property you are buying or selling and your circumstances. We recommend that you call us so that we can talk to you to discuss your particular situation. We can then give you an accurate quote as a fixed fee based on those circumstances.
Our qualified staff have many years of experience dealing with Conveyancing transactions. Please visit their profiles on our website to see their qualifications and experience.
You should also be aware that you are not obliged to use the solicitor suggested by your estate agent or bank. Please check the prices that they are charging you and then come and speak to us!
The legal costs for your property transaction can be split into two parts: the legal fees that your solicitor charges for doing the work and the disbursements which are associated costs your solicitor needs to pay to third parties. Below is a guide to our prices.
Sale of a freehold property
- Sale legal fees £600 – £1,500 (up to a maximum sale price of £750,000. Sale legal fees above £750,000 are transaction specific, please call or email)
- Our fees for arranging the funds transfer £35
- Our fees for obtaining and deducing the title £15
- Total VAT on our fees £130 – £310
- Total of our fees (inc VAT) £780 – £1,860
A detailed breakdown of what is included in the fee can be found here
Purchase of a freehold property
- Purchase legal fees £600 – £1,500 (up to a maximum purchase price of £750,000. Purchase legal fees above £750,000 are transaction specific, please call or email)
- Our fees for arranging the funds transfer £35
- Our fees in connection with the Inland Revenue form £75
- Lawyer Checker report fee £12
- Land Registry administration fee £15
- VAT on our fees £147.40 – £327.40
- Total of our fees (inc VAT) £884.40 – £1,964.40
A detailed breakdown of what is included in the fee can be found here
In addition to the above you will need to pay for a conveyancing search package the cost of which is £309.48 (inc VAT) direct from the firms search provider, poweredbypie. A Land Registry Registration fee and Stamp Duty may also be payable.
sale of a leasehold property
The sale of a leasehold property is more complex and may require you to pay for general leasehold property enquiries or a seller’s pack from the Landlord or Managing Agent (or both) to provide to the buyers. These are paid direct to the Landlord or Managing Agent and can vary from property to property. Norton Peskett cannot quote for these fees.
- Sale legal fees £900 – £2,250 (up to a maximum sale price of £750,000. Sale legal fees above £750,000 are transaction specific, please call or email)
- Our fees for arranging the funds transfer £35
- Our fees for obtaining and deducing the title £15
- Total VAT on our fees £190.00 – £460.00
- Total of our fees (inc VAT) £1,140.00 – £2,760.00
A detailed breakdown of what is included in the fee can be found here
Purchase of a leasehold property
The purchase of a leasehold property is more complex and will also require you to pay general leasehold management expenses. These are paid direct to the Landlord and can vary from property to property. Norton Peskett cannot quote for this.
- Purchase legal fees £900 – £2,250 (up to a maximum purchase price of £750,000. Leasehold purchase legal fees above £750,000 are transaction specific, please call or email)
- Our fees for arranging the funds transfer £35
- Our fees in connection with the Inland Revenue form £75
- Lawyer Checker report fee £12
- Land Registry administration fee £15
- VAT on our fees £207.40 – £477.40
- Total of our fees (inc VAT) £1,244.40 – £2,864.40
A detailed breakdown of what is included in the fee can be found here
In addition to the above you will need to pay for a conveyancing search package the cost of which is £309.48 (inc VAT) direct from the firms search provider, poweredbypie. A Land Registry Registration fee and Stamp Duty may also be payable.
Remortgage of a property
Please be aware that your bank may suggest that they can sort out your remortgage for you and add the fees to your mortgage. You do not have to use your bank’s solicitor to do the remortgage. This could save you a substantial amount of money!
- Remortgage legal fees £295 – £795
- Our fees for arranging the funds transfer £35
- Land Registry administration fee £15
- Our fees for obtaining and deducing the Title £15
- Total VAT on our fees £72 – £172
- Total of our fees (inc VAT) £432 – £1,032
A detailed breakdown of what is included in the fee can be found here
In addition to this you will need to pay the following (please note that you will have to pay these disbursements whoever you decide to use)
- Land Registry registration fee £40
- Search insurance £40 (please note that some lenders will not accept search insurance and will require searches at a cost of £309.48 inc VAT)
- Total cost £720.80 – £1,320.80
Abortive fees
We reserve the right to charge fees if your sale or purchase transaction becomes abortive. The charge will vary depending on the amount of work that has been completed and at what stage you have reached in the transaction. This will vary from £0 to the full legal fee we have quoted.
Disbursements
The most common disbursements associated with buying and selling a home are detailed below but there can be more that are specific to your house sale or purchase. If you are buying a leasehold property it can be more expensive as there are likely to be additional costs. For example, the lease itself usually 30 – 40 pages long has to be reviewed and enquiries raised with the landlord or managing agent.
Title Deeds
This is the legal title to the property. If you are selling your home you will need to get a copy of the Title Deeds, including a plan, that prove you own the property. The Land Registry is a government department which is responsible for recording the ownership of land and property in England and Wales. Registration is compulsory throughout the country whenever a property is sold or mortgaged. An official copy of the property title from the Land Registry usually costs £4 – £12.
Searches
Searches are a way of gathering important information about a property that you intend to buy and the area surrounding it. The minimum searches are as follows:-
- Local search – These are arguably the most important type of search as they will look into information held by the local authority involving the property, including any prospective plans for nearby development or roads. They will also show who is responsible for maintaining roads and paths adjoining the property.
- Water and drainage search – This is submitted to the local water and sewerage undertaker and confirms whether the foul and surface water drain to a public sewer and whether the property is connected to a main water supply.
- Environmental search – This search should establish whether the property that you are buying is built on or near contaminated land or water or on an old landfill site. The search should also show whether there is a risk of flooding or subsidence.
Property fraud fee/Lawyer Checker
Lawyers and the public are increasingly becoming subject to attempted fraud. We will check that the lawyer that we are sending money to is a real company. Lawyer Checker is a tool which allows us to check a particular solicitors’ bank account details. The cost of this is currently £12 plus £2.40 VAT.
Land charges bankruptcy search (one per buyer) and Priority search (searches before completion)
When you are buying a property your solicitor will conduct a search just before completion to make sure that no charges have been made to the title of the property since your offer was accepted.
Bank transfer or Telegraphic Transfer fee
The cost of this fee is currently £35 plus £7.00 VAT. Mortgage companies require funds to be telegraphically transferred to them which guarantees funds reach an account on a certain day. If you are buying then funds need to be sent to the seller’s solicitor and if you are selling then funds need to be transferred to your bank to redeem your mortgage.
Stamp Duty Land Tax
You must pay Stamp Duty Land Tax (SDLT) if you buy a property of land over a certain price in England, Wales and Northern Ireland. How much you pay depends on whether the land or property is residential and whether you’re a first-time buyer. We will file the return and pay the tax on your behalf. Our fees for completing the Inland Revenue form are currently £75 plus £15.00 VAT.
Transferring ownership
On completion you have to pay the Land Registry a fee for transferring your name with your buyer’s name. This fee varies depending on the value and can range between £20 and £550.