If you want more information on the fees you can expect to pay when buying or selling a property, then look no further! Our in-depth guide will give you a better understanding of the costs involved when moving home. If you're ready to get a quote, get a personalised conveyancing quote today.
What are conveyancing fees?
When buying or selling a property, you’ll need to enlist the services of an expert property solicitor who will guide you through the whole process. They’ll carry out the legal side of your home move, including reviewing contracts, raising enquiries, arranging the searches and registering your move with the Land Registry. Conveyancing fees are the costs for this service.
There are two types of conveyancing fees:
Legal fees. The basic fee you’ll pay your conveyancer for dealing with the legal process of a home sale or purchase.
Disbursements are costs your conveyancer will charge you and pay on your behalf to third parties.
How much are conveyancing fees?
Conveyancing fees will vary depending on what conveyancing firm you use and the specific details of your property purchase or sale.
Comparing conveyancing fees
It’s a good idea to get quotes from different firms so you can directly compare each of their conveyancing fees against one another. It’s always important to check whether the conveyancing fees quoted include both the legal fees and the disbursement fees, and check for any hidden costs that might be added as you progress. Don’t forget, cheapest doesn’t always mean best. Check reviews and ask for recommendations from friends and family.
Read our comparing conveyancing fees guide for a more detailed breakdown of what costs to expect.
What is the average conveyancing fee?
Conveyancing fees will depend on the specific details of your purchase or sale. If you would like a quote for your specific house purchase or sale, you can use our online conveyancing quote calculator to get an accurate quote for your conveyancing.
Conveyancing fees for leaseholds
When buying and/or selling a leasehold property, there will be extra conveyancing fees you should account for. This is because there’s more paperwork to deal with, as well as liaising with the landlord or managing agent. For example, your conveyancer may need to investigate the length of the lease, serve notices, enquire about the service charge and possibly get a Deed of Covenant. Learn more about leasehold transactions.
Conveyancing fees: Stamp Duty Land Tax (SDLT)
Stamp Duty Land Tax (SDLT) or Land Transaction Tax (LTT) in Wales is a government tax on property purchases over certain price brackets. It is paid as a lump sum on completion and only applies when purchasing a property, not when selling. Your conveyancer will be able to calculate the amount of tax you will pay, and you can ask them to include it in their quote if it isn’t shown. There is also a small fee for the associated paperwork and registration.
Get a quote for conveyancing which will also include an accurate SDLT or LTT calculation.
When do you pay conveyancing fees?
It’s likely that the main bulk of your conveyancing fees won’t need to be paid until you’re ready to exchange or complete on your sale or purchase. The costs for searches will be requested early in the process as these are payable to a third party such as a local authority – payment is therefore required before searches can be ordered.
When you’re choosing a conveyancing company, look to see what other benefits they offer within their conveyancing fees, such as a ‘No Move, No Legal Fee’ guarantee. If your sale or purchase falls through, this guarantee offered by some companies will mean you won’t be liable to pay any legal fees.
The next point at which you pay money to your conveyancer is when you exchange. You’ll usually pay a 10% deposit of the final balance to your conveyancer. (Note, this is the contractual deposit – see the Jargon Buster below.) You will then need to pay your final balance before completing, making sure that you have transferred funds in enough time for them to clear before the day of completion.
If you are selling a property, you will need to pay any balance when you complete on your sale.
Don’t worry if it all sounds a bit complicated. Your conveyancer will take care of everything – including the various exchanges of money that need to happen.
When are fees paid during the conveyancing process:
We’ve broken the conveyancing process into bitesize steps, so you can clearly see when the different conveyancing fees are usually due:
Step 1 – Initial consultation call
Step 2 – Pay for your search packs + searches ordered (buying only)
Step 3 – Searches returned for review
Step 4 – Contracts signed + completion date agreed
Step 5 – Send your cash deposit to your conveyancer (unless using proceeds from sale)
Step 6 – Exchange
Step 7 – Pay legal fees
Step 8 – Completion (+ any other disbursements due)*
*If you have SDLT or LTT to pay on the property, you will have transferred the funds to your conveyancer or solicitor before completing your purchase.
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First-time buyers guide
August 8th 2023-5 min read
Buying your first house can seem like a pretty daunting prospect so we’ve put together a handy guide for first time buyers, which takes you through the steps you need to navigate.
How long does the conveyancing process take?
January 23rd 2024-4 min read
The conveyancing process begins once an offer has been accepted on a property, how long this takes varies from case to case. There's no definitive answer however you can read our guide to find some rough timings.
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