Residential conveyancing fees

No two people or properties are the same. We pride ourselves on the relationships we build with clients, identifying their individual legal real estate requirements and meeting those in a responsive and personal manner.  Similarly, the work we undertake on a particular real estate asset will differ according to its nature. As such, the prices we list, while indicative, are subject to variables and assumptions.

Private residential conveyancing costs

Our professional fees are determined by the time required to undertake a transaction and the value of the asset. We often agree fixed fees, subject to reasonable assumptions. The ranges in which these fall are set out below. All prices are exclusive of VAT, which is charged at the prevailing rate (currently 20%).

Purchases

As no transaction is the same, the precise stages will vary from transaction to transaction. The key stages for a residential purchase are:

• Review of title documentation – freehold title and any other documents referred to on the title;
• Review and negotiation of a draft contract;
• Commission and review of searches – local authority, drainage and water, environmental, flood (if indicated as being necessary), highways, index map, chancel check and transport for London (if indicated as necessary);
• Review of the seller's completed questionnaires;
• Review of mortgage offer (if relevant) ;
• Raising additional enquiries where pertinent; 
• Review of survey/valuation report (if any);
• Report to you on all of the above; 
• Exchange of contracts;
• Preparation of completion statement;
• Drafting a transfer deed
• Reporting to a lender and drawing down finance (where relevant);
• Completion of the transaction; 
• Drafting a stamp duty land tax return and calculating the tax due;
• Payment of the stamp duty land tax on your behalf from your funds;
• Preparation and submission of an application to register the title at HM Land Registry; 
• Review of the updated title; and
• Sending all title documentation to you and your lender (if relevant) following completion.

The range of prices we charge are set out below.

Sales

The key stages of a residential sale will involve:

• Deduction of title referred to on the title to the buyer's solicitors;
• Drafting and negotiation of a draft contract;
• Issuing property questionnaires filled out by the property owner or someone with knowledge of the property;
• Procuring a redemption statement from an existing lender and attending to redemption of a mortgage (if relevant);
• Responding to additional enquiries raised by the buyer's solicitors;
• Exchange of contracts;
• Reviewing and negotiation of a transfer deed; and
• Completion of the transaction.

The range of prices we charge are set out below.

Refinancing

The key stages of a standalone refinancing are:

• Review of title documentation –freehold title (and where relevant leasehold title and lease) and any other documents referred to on the 
• Review of security documentation and facility letter;
• Commission and review of searches – local authority, drainage and water, environmental, flood (if indicated as being necessary), highways, index map and chancel check (if indicated as necessary);
• Review of completed property questionnaires; 
• Review of management information for the building;
• Raising additional enquiries with you where pertinent; 
• Review of valuation report (if provided to us by the lender);
• Report to you on the mortgage offer; 
• Report to lender and request drawdown;
• Preparation of completion statement;
• Arranging for execution of the security documentation; 
• Completion of the loan; 
• Preparation and submission of application to register the title at HM Land Registry; 
• Review of updated title; and
• Sending all title documentation to you and your lender following completion.

Matters incurring additional costs

Anticipated disbursements

In addition to our fees, you will also be responsible for any payments we make on your behalf (disbursements), such as any searches we undertake

• Search fees: £500-700 (approximately, depending on the costs of the local authority) Some of these will not attract VAT.
• Land Registration fee: These depend on the value of the property and can be established on the HM Land Registry website. 
• Stamp Duty Land Tax: These depend on the value of the property and the circumstances around a purchase or lease grant. They can be established on the HMRC website / Welsh Revenue Authority website.
• Land Registry search fees:  £7 per document downloaded
• Courier costs: Variable depending on usual commercial carrier rates
• CHAPs money transfer: £30

Assumptions

• No unforeseen matters arise which require remedying prior to completion, for example title defects
• The transaction proceeds without unreasonable delay and no unforeseen complications arise during the transaction
• No indemnity policies are required
• Third party documents (such as leasehold management packs) are provided when requested

Not included in the price

Please note that we will not be advising on and will not be responsible for any matters relating to the tax implications of this matter unless we expressly agree to do so, such as SDLT on a purchase, or you specifically instruct us to do so. We will not be advising you on the valuation of the property, the suitability of your mortgage or the other commercial or financial implications of this or any other matter.  We would also not be carrying out a physical inspection of the property. Whilst the drafting of co-habitation agreements / trust deeds is not included in our price, we can provide assistance and a quote if required.

Timescales

How long a transaction will take from start to finish will depend upon a variety of factors such as timely satisfaction of onboarding requirements, complexity of the transaction, whether financing is required, if a bank is separately represented, length of any chain, the conduct of the counterparty and the speed with which third parties such as search providers, lenders and of course the solicitors acting for the other party deal with matters. We generally find that an average transaction is taking around 12 weeks to reach the point of exchange of contracts but we frequently meet shorter timescales.

Conduct of the matter

Our conveyancers are members of the Quality Conveyancing Scheme and, while we endeavour to keep costs down by using the most efficient personnel, including paralegals and trainees, as appropriate, the principal lawyer acting for you will be admitted as a solicitor in England and Wales. Our engagement letter will let you know who specifically would be acting for you and what their hourly rates are.