Our conveyancing costs explained

Before beginning the conveyancing process, it’s important to understand the costs that go along with it, so you can ensure the process runs as smoothly as possible.

Purchase of a freehold residential property

Our conveyancing fees cover all legal work required to complete your freehold purchase, including:

• Reviewing contracts.
• Carrying out searches.
• Liaising with mortgage lenders.
• Completing the purchase.
• Registering ownership with HM Land Registry.
• Paying Stamp Duty Land Tax (England) or Land Transaction Tax (Wales).

Freehold conveyancing fees and disbursements 

What are disbursements?

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

Stamp Duty or Land Tax (on purchase)

The amount payable depends on the purchase price of the property:

• England: Stamp Duty Land Tax (SDLT) – calculated via HMRC.
• Wales: Land Transaction Tax (LTT) – calculated via the Welsh Revenue Authority.

How long will my house purchase take?

How long it will take from your offer being accepted until you can move into your house will depend on a variety of factors, but the average process takes between 4 and 12 weeks.

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 4 to 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 1 and 6 months. In such a situation, additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a freehold residential property vary according to the circumstances. However, below we have suggested some key stages that typically occur:

1. We will take your instructions and give you initial advice on your purchase.
2. We will check that finances are in place to fund the purchase and contact the lender’s solicitors if needed.
3. We will receive and advise on contract documents.
4. We will then carry out searches and obtain further planning documentation if required.
5. We will make any necessary enquiries of the seller’s solicitor.
6. We will then go through the conditions of the mortgage offer with you.
7. You will then receive the final contract, ready for you to sign.
8. We will agree on a completion date with you (the date from which you own the property).
9. Now, it’s time to exchange contracts and notify you that this has happened.
10. We will arrange for all monies needed to be received from the lender and you.
11. At this point, the purchase will be completed.
12. Following completion, we will deal with the payment of stamp duty/land tax and your application for registration at the Land Registry.

Conveyancing costs for buying a leasehold residential property

Our fees cover all the work required to complete the purchase of your new home, 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 is in Wales.

Conveyancer’s fees and disbursements 

Additional leasehold disbursements (estimated)

These fees vary from property to property and can, on occasion, be significantly more than the ranges given below. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property, but rest assured, we will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Stamp Duty Land Tax (Leasehold)

The stamp duty land tax payable for leasehold properties 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.

Leasehold conveyancing timescales

Most leasehold purchases take 4 to 12 weeks, but may take longer if:

• A lease extension is required.
• Management company delays occur.

Lease extensions can add 1 to 6 months, and additional fees may apply.

Key stages of the leasehold conveyancing process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

1. We will take your instructions and give you initial advice.
2. We will then check that finances are in place to fund the purchase and contact the lender’s solicitors if needed.
3. Once we have received and advised you on the contract documents, we will then carry out searches of the property.
4. We will also obtain further planning documentation if required.
5. Then, we will make any necessary enquiries of the seller’s solicitor.
6. We will give you advice on all documents and information received and go through the conditions of the mortgage offer to ensure you fully understand them.
7. Then, we will send you the final contract to you for you to sign.
8. Once the final contract is signed, we will draft the transfer, whilst advising you on joint ownership.
9. We will then obtain pre-completion searches.
10. Now it’s time to agree on a completion date (date from which you own the property).
11. Contracts are exchanged, and you will be notified.
12. We will then arrange for all monies needed to be received from the lender and you.
13. The purchase is now complete, and we will deal with payment of Stamp Duty/Land Tax and your application for registration at the Land Registry.

Important fee assumptions

Our quoted fees assume:

1. A standard transaction with no title defects.
2. Assignment of an existing lease (not a new lease).
3. No unexpected delays or complications.
4. All parties cooperate promptly.
5. No indemnity insurance is required.

Additional fees may apply if unforeseen issues arise.

Need a conveyancing quote?

If you’re purchasing a property and are in need of a clear, fixed-fee conveyancing quote, get in touch today, and our experienced conveyancing solicitors will be happy to help.