With the conveyancing market flooded with quotes offering prices from next to nothing to a small fortune, it can be confusing to know exactly how much you should be paying for your conveyancing.
What will my conveyancing quote consist of?
For starters you’ve got the solicitors fees which will set you back between £300 – £1,200 depending on the firm and the area the house is in, as well as little extras like if you’re buying a leasehold property the conveyancing will cost more than a freehold purchase.
Then you’ve got the searches and disbursements, a registration fee to the Land Registry to list your title deed under your name, plus the amount due in stamp duty. Most of these will depend on the value of your property and the area it’s located in.
An example of an accurate conveyancing quote:
Below you can see an example of one of our quotes. This is based on the purchase of a £200,000 property in Brighton, Sussex.
How much should all the disbursements cost?
While you should always opt for fixed fees and an itemised quote, it can still be hard to know exactly what should be included, particularly when it comes to complicated legal matters like disbursements. Here we’ve listed the standard searches and disbursements that should come with every conveyancing invoice.
Searches – £200 – £300
- Environmental searches – £30 – £40
- Local authority searches – £100 – £200 (depending on location)
- Drainage – £30 – £40
- Chancel Repair Liability – £10 – £20
- Priority searches – £6 – £12
- Bankruptcy search – £2 – £4
- Land Registry copies – £4 – £8
- Online ID verification – £6 – £10
- Registration of Title (to Land Registry) – £40 – £700 (depending on value of property)
*Some of these prices may exclude VAT but your quote should state this.
What should not be in your conveyancing quote?
A bespoke conveyancing quote will be tailored to your needs, but not every solicitor will provide this. There are some things you’ll have to watch out don’t sneak onto your bill, and all of the following should be included in your solicitor fees.
- Postage, photocopying and phone calls
- Professional Indemnity Insurance
- Writing Stamp Duty Tax Return
- Fees for dealing with leasehold property (should have been factored into original quote)
How to guarantee you’re not caught out with your conveyancing
Choose a solicitor who offers fixed fees and you’ll avoid any costly surprises at the end of your conveyancing. Fixed fees basically mean that the initial quoted amount will not change throughout the conveyancing process.
Another guarantee to include is the ‘No Completion, No Fee’ guarantee, which means that if your sale or purchase falls through due to the fault of another party, you’ll get your next conveyancing package free.
If you follow these tips you can’t go wrong, or even better, opt for a bespoke conveyancing quote complete with fixed fees and a ‘No Completion, No Fee’ guarantee. Get an instant no obligation quote here.