About Your Sale and Purchase Conveyancing Quote

Click the button below to start your sale and purchase conveyancing quote. It will only take a couple of minutes, and you will be able to view your quote online.

Your sale and purchase conveyancing quote is made up of a number of different things, some of which we can control, and others which we can’t.

Best Value Conveyancing can help with the legal side of your sale, and of your purchase

About Sale and Purchase Conveyancing

When looking at sale and purchase conveyancing, the first component is the legal fee. This is the fee we charge you for our work. In other words, it is what you pay for our lawyers’ time looking after your sale. If you compare this to a mechanic or plumber, this is the labour charge on the sale.

The fee varies depending on the price of the property, because the level of responsibility increases for more expensive sales.

However, because we’re Best Value Conveyancing we have kept our fees down so that they are competitive and represent good value for money for sale and purchase conveyancing.

Sale and purchase conveyancing additional components

There are some additional components in the conveyancing legal fee, which depend on the circumstances. We quote for a small additional fee for mortgaged transactions. This is because when your solicitor or conveyancer advises you they have to undertake extra work in dealing with the mortgage company. When you are selling this involves ensuring that your mortgage is paid off and fully redeemed before the property passes on the sale, and all charges on the property released; if you’re purchasing this involves advising you of your obligations under the mortgage, and separately advising the mortgage company in respect of the purchase. Your mortgage company does not pay for this additional work. It’s important that the solicitor or conveyancer undertakes this additional work, because if they didn’t there would be a risk that you would have to move out of the house but still owe a large sum to the mortgage company, or perhaps you would find yourself saddled with a large mortgage debt on the purchase but a legal problem might mean your house was insufficient security for the outstanding loan.

We also charge a small additional fee for leasehold and shared ownership transactions. Again this is because there is extra work involved in dealing with third parties, such as managing agents, as well as additional queries and work coming from your sellers and purchaser’s solicitors. Shared ownership schemes also attract a small extra fee. This is because of the extra work involved in dealing with such schemes, as they involve advice on both a normal mortgage transaction, and on aspects of a rental agreement. There are usually complicated provisions to do with the different shares in the property, management and maintenance, and the rental aspects.

Note that some providers on the internet do not quote these fees upfront. They’re added later on or mentioned elsewhere in the website. We’re totally transparent and our fees are fixed with no extras.

In some cases additional fees are also charged if you need a declaration of trust. This is a formal legal document setting out the respective interests in the property you have purchased. You might want to specify that two purchasers both have equal shares, or perhaps that you own it in different proportions. This involves additional work and legal advice.

In some cases additional fees may arise, such as a fee for arranging a Statutory Declaration about an aspect of a property you are selling. There are other instances, but your solicitor or conveyancer will discuss these unusual costs if they come up along the conveyancing process.

All Best Value Conveyancing quotes include VAT.

Disbursements

Disbursements are the various other expenses which are associated with selling or buying a property. Think of them as the parts aspect of the transaction – your case handler has to have them to do a proper job, but they have less ability to control the costs. The disbursements on any transaction will not vary a great between solicitors, and in sale transactions are usually very modest (with the possible exception of leasehold sales, where fees charged by managing agents and management companies can be quite high).

Disbursements for Sale and Purchase Conveyancing

Identity Check

This is a small fee for verifying your identity. All solicitors and other regulated professionals must be satisfied who they’re dealing with in order to reduce the risk of money laundering. This is a legal requirement, but the fee is very small.

Stamp Duty Land Tax

This is a tax which the UK Government charges on land and property transactions. For your sale and purchase conveyancing, this will apply to the purchase. The amount depends on the size of the property transaction, and (for purchases after midnight on 4 December 2014) SDLT works similarly to income tax, with different brackets to which different rates of tax apply. You only pay tax at particular rates on the amounts within that band.  We have no control over the amount of tax but we can advise you on how it works. This is always the most significant and sizeable element in any quote we give.

The tax bands are:Up to £125,000 – 0%

  • £125,001 to £250,000 – 2% on amount over £125,000
  • £250,001 to £925,000 – 5% on amount over £250,000
  • £925,001 to £1,500,000 – 10% on amount over £1.5m
  • Above £1,500,000 – 12% on that higher amount

To give an example, a purchase at £275,000 would be worked out as follows:

  • First £125,000 – Zero tax
  • Second £125,000, taking it up to £250,000 – 2%, so £2,500
  • Last £25,000, taking it up to £275,000 – 5%, so £1,250
  • Total SDLT bill £3,750

This is a significant saving, as under the old rules 3% would have been payayble on the entire amount, costing £8,250, so under the new rules you would save £4,500.

Our quotes from the calculator at the left do not include SDLT, which can be calculated at HMRC SDLT calculator.

When paying your Stamp Duty Land Tax your solicitor or conveyancer has to submit a detailed form which sets out the necessary figures for HMRC to determine and settle the SDLT liability. There is a small fee for this important task.

Bank Fees

The banks charge us a sum for sending money through their system. All funds in purchases are sent electronically via the banking network, and we have to pay the fee the bank levies for this.

Leasehold disbursements

Leasehold transactions also attract additional disbursements; in leasehold sales there are fees charged by management companies for providing information about service charges etc, and additional Land Registry charges; in leasehold purchases there can be fees charged for giving notices to relevant parties and for obtaining the certificates necessary to deal with certain restrictions on registration.

Other sale disbursements

On occasion issues may arise during the course of a transaction which can’t be accurately predicted at the start. The most common of these is indemnity insurance. If, for example, there was an extension built on the house but it is not clear whether the Building Regulations were complied with, the buyer may insist on the purchase of an insurance policy to cover the risk that in the future someone might object to the lack of Building Regulations completion certificates. Primarily it is to cover them when they in turn sell the property.

Please note that the Best Value Conveyancing service is exclusively for residential property, and does not extend to commercial, agricultural transactions, sale or purchase of parts of a plot or property, or transactions which relate to the sale or purchase of land exclusively. All such transactions amount to commercial property work and are significantly more labour intensive.

Land Registry Office Copy and Plan Fee

A small fee charged by HM Land Registry to provide us with a copy of their Office Copy of the legal documents including Registers of Title and supporting title documents including any plan. Your purchaser’s solicitor will require this to advise on title to the property and your case handler has to supply it to them. For leaseholds and properties with other past documents which need to be obtained these fees increase slightly.

Bankruptcy search

This is a small fee to check with the Official Receiver that no party to the transaction is a bankrupt. Where there is a bankruptcy interest it is necessary to deal with the trustee in bankruptcy or the Official Receiver in respect of the bankrupt’s interest in the property. This is most relevant in mortgaged transactions and is charged at £2 per name.

Land Registry Registration Fee

A small fee charged by HM Land Registry to register the change in ownership. This helps to secure your interest in the property once you’ve bought it. Solicitors and conveyancers will often use the online portal wherever possible, and that keeps the cost down for you. Where this is not possible (some types of transaction cannot be registered using the portal) your case handler will advise you and a higher fee will be payable.

Searches

The other sizeable disbursement in any purchase is the search fee component. We have negotiated a special nationwide deal for our clients which provides the main searches: Local Authority search and Local Land Charges search(CON29), Drainage and Water Search (CON29DW) and an Environmental search. We can offer these for a fixed price bundle for each purchase conveyancing transaction. In some cases you may be advised to carry out additional searches, the most common of which are mining searches (to locate old mine workings which may cause subsidence) and HS2 searches (is a part of the new line going next to your proposed garden?). As these are property specific your case handler will have to advise after they have considered your purchase, however the cost of these additional searches is usually modest, for example £37 for a mining search.

Searches are enquiries your solicitor or conveyancer makes with various official organisations to ensure that there are no hidden problems with your proposed purchase. It will tell you a variety of things, ranging from whether the Council is about to have a road built through your back garden, whether the house was built on top of an old rubbish dump, whether you might suffer subsidence because there’s an old mine underneath it, and even whether there might be radioactive Radon gas in the area! If you’re buying in the HS2 area we can check the route of that, or if you’re near a church we can find out whether you need insurance to pay for chancel repairs (some old buildings require local homeowners to pay for the upkeep of the church!).

Your case handler will also check with the Land Registry that there have been no changes to the Register in the period since we obtained your Office Copy of the document. This, referred to as an OS1 search, makes sure that changes such as new mortgages have been taken out on the property in the meantime.

It’s important you have these checks undertaken to make sure there are no problems later. If a search picks up something of concern you can decide whether you still wish to go ahead, and you can take out insurance for the risk that there may be a problem. If you don’t have the searches done you may find there is a major or expensive difficulty later on.

The principle of caveat emptor (buyer beware) also applies here. Once contracts have been exchanged any liability is with the buyer of the property, so it is important before the exchange of contracts to make sure that there are no hidden liabilities or problems. Our expert conveyancing advice, and an appropriate bundle of searches, will protect you from these risks.

For cash buyers, the searches are optional. Your solicitor can advise you about these.

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If you want to go further with your sale and purchase conveyancing quote, or even if there is any aspect of your sale and purchase conveyancing quote you’re not sure about, please don’t hesitate to get in touch – we’re always happy to help, and we’re only a phone call or email away!