Whilst it is now expected that a fixed price can be given for a straightforward transaction, there are many fees and costs which can arise making each case unique. In order to provide as much transparency as possible to prospective clients, we set out below some indicative bands based on past transactions. These give an idea of the fluctuations that can occur and to highlight that the only way to get a true idea of the costs is to contact us for quote.
|Property||Max Sale fee||Min Sale fee||Max Purchase fee||Min Purchase Fee|
Many factors determine the cost of a transaction, such as if the property is Leasehold, Freehold, New Build or Shared Ownership. Other determining factors can include Indemnity Policies, Lease Variations, Declarations of Trust and many others. To assist, and to give an idea of why the possible fees may vary, please see the table below as a guide.
|STAMP DUTY – Properties over £125,000||Please see links below.|
|SEARCHES||From £275 + VAT|
|LAND REGISTRY FEES PAYABLE||From £90 + VAT|
|New mortgage advance||Fees||Panel||Ref Fee||Net fee|
|New advance||Max fee||Min fee|
Finally there are payments that apply to every transaction and these are consistent amongst most conveyancing firms. These are often known as Disbursements, which are payments that have to be made to third parties to fulfil the requirements for transferring land. They include payments for:
Typically 12 – 16 weeks.
All our clients understandably would like to know how long their matter may take and yet that is the one thing that no conveyancer can accurately predict. The average transaction time, according to the government, has lengthened (due to more vigorous requirements for anti-fraud investigations, money laundering checks and other factors – such as changes to mortgage regulation, etc.) with 12-16 weeks now being the average. Many matters can proceed quicker than this and we will always do our best to meet a client’s requirements. Please note that this is often not within our control, and so no firm commitments should be made to timescales until you have reached exchange of contracts.
There may be some instances where referral fees are paid to third parties, such as estate agents panels and mortgage brokers for the introduction of your business. These fees typically range from £25-£300. Any such fees applicable to your transaction will be disclosed in our formal quote and initial paperwork before you are committed to the transaction.
Click here for our Residential Conveyancing Guide which is step by step guide to the conveyancing process