The cost of our conveyancing services

Our approach to fees

Residential property transactions can be difficult to price accurately as no two properties or transactions are the same and it is often the case that something arises during the course of the transaction which could not have been anticipated at the outset.

We will discuss every transaction with our clients so as to understand the scope of the work we anticipate we will be required to undertake. Where possible, clients will be provided with a fixed fee quote. This will take into account any relevant information which we have gathered during out discussions and aims to reduce the possibility of extra costs arising during the course of the transaction.

The cost of selling a residential property.

What is involved?

The amount of time spent on each stage of the process will depend on the complexity of the sale.

Typically this will involve:

- Complying with Law Society and government regulations including client identification procedures.
- Obtaining the information we need including a list of fixtures and fittings in the property and replies to the Law Society’s Property Information Form.
- Liaising with the landlord/managing agents and obtaining information from them (if applicable).
- Reviewing all papers, preparing the sale contract and sending it to the buyer’s solicitor with the legal title of the property and additional information.
- Corresponding with the buyer’s solicitor and negotiating the terms of the contract.
- Providing a full report on the contract and arranging for it to be signed when it has been approved by the buyer’s solicitor.
- Obtaining a redemption statement from the lender confirming the amount to be repaid on completion of the sale (if applicable).
- Obtaining the estate agent’s commission account
- Informing the parties of the arrangements for completion of the sale.
- Approving the Land Registry transfer documentation and arranging for it to be signed.
- Preparing a financial statement showing the net sale proceeds.
- Receiving the money for the sale from the buyer’s solicitor and confirming to all parties when completion has taken place.
- Repaying the mortgage out of the sale proceeds by bank transfer and obtaining evidence of repayment (if applicable).
- Sending the completion documents to the buyer’s solicitor, paying the estate agent’s commission and transferring the sale proceeds.

Total estimated Costs – to complete the sale excluding VAT

Property Value (Lower Range - Upper Range)
£0 - £1,500,000 (£4,000 - £5,500+)
£1,500,001 - £3,000,000 (£5,500 - £7,000+)
£3,000,001 - £10,000,000 (£7,000 - £12,000+)

What factors can affect these costs?

The fees set out in the table above could be affected by the following:
- The transaction involves any unregistered land;
- There are multiple titles;
- The property is freehold or leasehold;
- There is a mortgage to redeem (or more than one);
- The transaction involves a sale of part of a legal title;
- The transaction involves any agricultural or equine aspects;
- The contract is to be conditional;
- Consent to the sale is required from a third party;
- The complexity of the legal title;
- There is a short deadline for exchange/completion;
- Completion does not take place on the contractual completion date or there is another breach of the contract by either party;
- Additional work is required to perfect a defect in the legal title or otherwise satisfy a mortgage lender’s requirements.

Expenses and additional charges

Expenses and additional charges that you are likely to be required to pay include:
- Land Registry fee for downloading and official copy of the title and supporting documents
- Bank transfer fee per transfer (£30)
All fees are subject to the addition of VAT at 20%

How long will the matter take?

A straightforward transaction should exchange contracts within 3 – 4 weeks of a sale being agreed if the matter proceeds smoothly. Completion is, of course, dependant on individuals involved in the transaction, especially where there is a chain. If you have a preferred date for exchange or completion we shall endeavour to meet that date. However, we are not always able to influence other parties in the transaction and unforeseen complications and delays can arise.

The costs of purchasing a residential property

What is involved?

The amount of time spent on each stage of the process will depend on the complexity of the sale.

Typically this will involve:
- Complying with Law Society and government regulations including client identification procedures
- Communicating with the solicitor and estate agent (if any) acting for the seller.
- Receiving the contract documentation and reviewing those papers in detail.
- Arranging searches and considering the results.
- Preparing a list of questions to be put to the seller arising out of the documentation provided.
- Submitting standard and additional enquiries to be put to the landlord/managing agent (if applicable)
- Negotiating the draft contract prepared by the seller’s solicitor and reporting on the contract terms.
- Considering the mortgage lender’s instructions, reporting relevant matters to the lender and ensuring compliance with its requirements (if applicable).
- Reporting on the contract and arranging for it to be signed and providing instructions for payment of the deposit.
- Drafting Land Registry transfer and carrying out pre-completion searches.
- Reporting to the Lender and requesting the mortgage funds in accordance with the lender’s requirements (if applicable).
- Preparing a financial statement, calculating the balance required to complete and providing instructions for payment of funds.
- Completing HMRC returns SDLT1 (for payment of stamp duty land tax and assuming the calculation of the SDLT liability is straightforward), reporting on the return and arranging for it to be signed.
- Obtaining the mortgage funds from the lender (if applicable).
- Sending the completion monies to the seller’s solicitor on completion and finalising the completion.
- Obtaining the completion documents from the seller’s solicitor.
- Serving Notice of Transfer and Notice of Charge on landlord/managing agent (if applicable).
- Submitting HMRC return SDLT1 to HMRC.
- Submitting Land Registry application and advising all relevant parties when it has been completed.
- Dealing with the lender’s standard post completion requirements (if applicable).

Total estimated Costs – to complete the purchase excluding VAT

Property Value (Lower Range - Upper Range)
£0 - £1,500,000 (£4,000 - £5,500+)
£1,500,001 - £3,000,000 (£5,500 - £7,000+)
£3,000,001 - £10,000,000 (£7,000 - £12,000+)

What factors can affect these costs?

-The transaction involves any unregistered land.
-The purchase is off-plan.
-There are multiple titles.
-The property is freehold or leasehold
-We will be acting for a mortgage lender or dealing with a separate represented lender’s solicitor.
-The lender’s instructions to us and its requirements are non-standard. -The lender is off-shore.
-The transaction involves a purchase of part of a legal title.
-The complexity of the legal title.
-There is a short deadline for exchange or completion.
-The contract is to be conditional.
-Additional work is required to perfect the defect in the legal title or otherwise satisfy a mortgage lender’s requirement.
-Completion does not take place on the contractual completion date or there is another breach of the contract by either party.

Expenses and additional charges

Expenses and additional charges that you are likely to be required to pay include:
- Land Registry fees (£455 (for properties with a purchase price in excess of £1million))
- Landlord’s notice fee
- Search fees (approx. £600 plus VAT)
- Bank transfer fee (£30)
- Stamp Duty Land Tax – dependant on the purchase price.

How long will the matter take?

A straightforward transaction should exchange contracts within 3 – 4 weeks of a purchase being agreed if the matter proceeds smoothly. Completion is, of course, dependant on individuals involved in the transaction, especially where there is a chain. If you have a preferred date for exchange or completion we shall endeavour to meet that date. However, we are not always able to influence other parties in the transaction and unforeseen complications and delays can arise.

Our team

The following persons will work on your matter

Annabelle Svedberg – Principal
Annabelle Svedberg has over 10 years’ experience working on conveyancing matters.

Baljit Croucher - Legal Executive
Baljit has over 4 years’ experience working on conveyancing matters.

Kim Sealy – Legal Assistant
Kim Sealy has 8 years experience and is a graduate of the Chartered Institute of Legal Executives.