What is residential conveyancing?
The legal part of the process when buying or selling a home is called residential conveyancing. Experienced residential conveyancing solicitors are often used for this because the legal process can be complex and requires specialist knowledge to ensure that all requirements are met.
How much does conveyancing cost?
In June 2023 the average house price in the UK was £288,000 (source Office of National Statistics). Our fees are based on average house prices, they vary according to the property price. We offer a fixed fee service on all transactions up to £2,500,000.
Our average legal fees to act on the purchase of a property are £960 inclusive of VAT
Our average legal fees to act on the sale of a property range are £935 inclusive of VAT
In addition to our fees you will have to pay certain third party costs.
Potential third party costs*
- Notice of transfer fee: This fee if chargeable is set out in the lease. Often the fee is between 0 - £500 plus VAT
- Notice of charge fee:(if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between 0 - £500 plus VAT
- 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 0 - £250 plus VAT
- Certificate of compliance fee: To be confirmed upon receipt of the lease, as can range between 0 - £250 plus VAT
- HM land registry fee: Fee calculator
- Search fees: From £225 - £285 plus VAT - prices could increase subject to location of the property
*These fees vary from property to property and can be significantly more than the ranges given above. We can give you an accurate figure once we know who the management company and/or freeholder are. The notice fees are set by the management company/freeholder and we have no control over these charges.
Prices and third party costs are subject to change dependent on factors including property value - for a full quote and full breakdown of related third party costs please use our residential conveyancing calculator for a free quote without obligation: Online Conveyancing Quote
In addition to receiving instructions direct from buyers and sellers, we also work alongside brokers, referrers and property agents who refer clients to us. Many of these will provide fixed pricing on their websites and literature, the pricing that they advertise in many cases will include our fixed legal costs.
How long will the conveyancing process take?
Unfortunately nobody can say how long the process will take. The length of the chain, the type of transaction and the speed at which other parties involved in the transaction work and reply to queries and paperwork can all affect the length of the process. For a straightforward transaction, completion should take place within 8-12 weeks of instructing a solicitor when not subject to any major hold ups. For a property bought at auction the completion date is fixed and the transaction must usually be completed with 28 days.