Average Fee for Residential Property Sales

How our charges are calculated

Our fees are based on the hourly rate of £350 per hour and the work will be handled by a qualified solicitor, who is both experienced and especially practised in conveyancing matters. Or by a trainee solicitor under the supervision of a qualified solicitor.

They cover all of the work required to complete the purchase of your new property, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

However, our fees are calculated assuming that:

• this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction:
• the transaction is concluded in a timely manner and no unforeseen complication arise
• all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
• no indemnity policies are required. Additional disbursements may apply if indemnity policies
  are required.

Additional fees:

Conveyancer’s fees –

Legal fee up to 0.5% of the value of the transaction plus VAT and where your matter is a special case there will be an additional charge (see below)

You may incur an additional charge where your matter falls into the following special cases:

• Contract races
• New builds
• Synchronised chains
• Auctions

Please note this list is not exhaustive. Please contact us with your circumstances for more information.

Disbursements –

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the initial payment of the disbursements on your behalf to ensure a smoother process. Examples of typical disbursements and their estimated costs are

Search fees – Depend on the location of the property but can range from £400 – £500 (+VAT likely to be £80 – £100)

HM Land Registry Fee – Depends on the value of the transaction but can be between £20 – £500 for a more accurate figure you can visit https://www.gov.uk/guidance/hm-land-registry-registrationservices-fees

Priority search – £3.00 (+ VAT)

Bankruptcy search – £2.00 per person (+ VAT)

Stamp Duty/ Land Tax – This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website

The Process:

The precise stages involved in the purchase of a residential freehold property vary according to the circumstances but generally include the following:

• Taking your instructions and giving you initial advice
• Check finances are in place to fund purchase and contact lender’s solicitors if needed
• Receive and advise on contract documents
• Carry out searches
• Make any necessary enquiries of seller’s solicitor
• Give you advice on all documents and information received
• Review conditions of mortgage offer
• Send final contract to you for signature
• Draft Transfer
• Advise you on joint ownership (if needed)
• Obtain pre-completion searches
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from lender and you
• Complete purchase
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

How long the transaction will take:

How long it will take from your offer being accepted until you can complete the purchase of your property will depend on a number of factors. On average it can take 6-8 weeks to get to exchange of contracts. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 12 weeks.