fbpx

Call for a free consultation

  • Sheffield 0114 272 9184
  • Chesterfield 01246 229 393

Conveyancing costs FAQs

As there are many legal issues involved when buying or selling a property, you’ll need a conveyancer or conveyancing solicitor to handle all the paperwork and ensure everything goes through without any problems. This guide sets out the charges a conveyancer will make for their services.

Click on the links below to jump to the relevant sections:

How much does a conveyancer charge?

Conveyancing is no different to other professional services in that prices can vary significantly from firm to firm. But do be aware that if you’re quoted what seems like a remarkably low fee, you might not be getting an honest and transparent estimate of the charges you’ll face throughout the transaction.

Most conveyancers base their fees on the value of the property being bought or sold. They make the charge as a fixed fee, which should mean no added costs later. That way, you know from the very beginning of the process what you’ll be asked to pay.

There’s likely to be a marked difference in the fee if you’re buying the home rather than selling it, or if you’re buying and selling at the same time. For example:

Typical conveyancing fees from Graysons when BUYING a property

This example assumes a property value of £250,000 and that the buyer (a) will be taking out a mortgage and (b) isn’t a first-time buyer.

Legal fees

£624.00 (including VAT)

Search fees (Sheffield area)

£241.00

Land Registry fee

£135.00

Stamp Duty Land Tax

£2,500.00

Bank transfer fee

£14.40

Final searches

£7.00

Total

£3,521.40

Typical conveyancing fees from Graysons when SELLING a property

This example assumes a property value of £250,000 and that the property is mortgaged.

Legal fees

£576.00 (including VAT)

Office copies

£6.00

Bank transfer fee

£14.40

Total

£596.40

Typical conveyancing fees from Graysons when BUYING and SELLING a property

This example assumes a property value of £250,000 (for both homes), that the buyer will be taking out a mortgage and that the property being sold is mortgaged.

Buyer’s fees

Legal fees

£624.00 (including VAT)

Search fee

£241.00

Land Registry fee

£135.00

Stamp Duty Land Tax

£2,500.00

Bank transfer fee

£14.40

Final searches

£7.00

Seller’s fees

Legal fees

£576.00 (including VAT)

Office copies

£6.00

Bank transfer fee

£14.40

Total

£4,117.80

Use our conveyancing fee calculator for an instant estimate of what Graysons would charge for your property transaction. Each fee is explained in the next section.

What does a conveyancer’s fee include?

A conveyancer will break down their fee into several costs. There is the charge they make for their services (‘legal fees’ in the examples above), and then a series of other fees—known as disbursements—which they will deal with on your behalf.

Buying a property

Legal fees

Conveyancing is transferring ownership of property, and this must be done according to the law. A conveyancer checks that all the relevant paperwork is present and correct and ensures nothing is overlooked that might legally obstruct the sale or purchase of the home.

How much? You’ll likely have to pay between £500 and £1,500 for a single sale or purchase. If you’re buying and selling at the same time, you’ll pay the two individual fees as both are separate matters that require their own work. Legal fees also incur VAT (currently 20%).

Disbursements

Search fees

The conveyancer examines your local authority’s records for important information relating to your property (and the land belonging to it). This concerns things such as:

  • financial charges; debts registered against the home by the local authority such as the cost of an environmental clean-up
  • details of any planning permission or building regulation consents, and any applications currently proposed that directly affect the property
  • any proposals the local authority has planned that might affect the property, such as the implementation of any traffic calming measures
  • environmental searches
  • drainage and water searches
  • coal authority searches

Read our guide to conveyancing searches for more information.

How much? This fee varies from council to council, but it could range from £200 to £500.

Land Registry fee

The Land Registry is the government department entrusted with maintaining the register of who owns what property throughout England and Wales. (Scotland and Northern Ireland have their own departments.)

When you buy a property, the Land Registry charges a fee to register you as the new owner. How much this is depends on the property’s value, and whether it’s a first registration (i.e. for a new-build) or a transfer of ownership.

How much? The government’s website has a full guide to the Land Registry’s fees for registration. But for example:

  • an already-registered house sold for between £100,001 and £200,000 will incur a fee of £95
  • a new-build costing between £200,001 and £500,000 will incur a fee of £270
Stamp duty land tax

This is a tax you must pay whenever you buy a property. Providing the home you’re buying is within the threshold, you’ll pay the tax to HMRC, via your conveyancer, when the purchase completes.

  • England and Northern Ireland—The government’s website sets out stamp duty land tax rates for properties in England and Northern Ireland.
  • Wales—Properties in Wales are now governed by the Welsh Revenue Authority and have different rates of Land Transaction Tax (LTT), which replaced stamp duty. The website also has a stamp duty land tax calculator you can use to work out how much you’ll pay.
  • Scotland—Land and Buildings Transaction Tax (LBTT) has replaced stamp duty in Scotland. This calculator tells you how much LBTT you would need to pay on your new home.

How much? You won’t pay any tax if the property is worth £125,000 or less. Anything above that, you’ll be charged—exactly how much depends on certain conditions, such as the value of the property, whether you own a share in other property and whether you’re a first-time buyer.

Bank transfer fee (or telegraphic transfer fee)

Banks make a charge for every electronic money transfer they carry out. Whenever your conveyancer needs to transfer fees on your behalf (to the seller’s conveyancer, for example), they will do so electronically and so will ask you for money to cover this.

How much? Graysons makes a charge for bank transfers, but how much this is will depend on your circumstances.

Final searches

The conveyancer will do further checks just before the purchase completes to make sure nothing has changed since they carried out the initial searches explained above.

How much? This is usually between £3.00 and £7.00, but will depend on your circumstances.

Selling a property

Some of the fees mentioned above will also apply when you sell a property. Additional conveyancing fees involved in a sale may include the following.

Office copies

Transferring ownership of a home involves passing title deeds to the new owner. Title deeds are legal documents (such as conveyances) that demonstrate who owns, and who previously owned, the property. Most of them are now stored electronically at the Land Registry.

When you sell your home, you must provide copies of your title deeds to the buyer’s conveyancer or solicitor. To satisfy this, your conveyancer will get these records—known as office copies—from the Land Registry on your behalf.

How much? The current Land Registry fee for this service is £6.00 per title.

What charges will I pay on a leasehold property?

The costs involved in buying a leasehold property are different to those you’d pay if you were buying a freehold property and involve costs such as service charges (if communal facilities such as a flat), ground rent and notice fees.

The rent will be noted in the lease but the other charges will be confirmed by the freeholder or their agent and they will vary between different freeholders. As such, we can’t anticipate what they will be at the time we provide a quote.

Our guide to buying leasehold property explains these fees in detail.

What deposit do I pay my conveyancer?

In property buying, the deposit is the contribution your mortgage provider asks you to make for them to lend you the rest of the money. It’s usually at least 10% of the full price of the house, though smaller deposits can be negotiated.

Your conveyancer will hold this same deposit, on your behalf, until you’re ready to exchange contracts. This is intended as a show of good faith, a commitment to buying the property. So they’ll ask you to include the deposit with their fees, and request the remaining balance closer to completion. If you pull out of the transaction after exchanging contracts, the sellers are legally entitled to keep your deposit.

If you’re selling a house at the same time you’re buying another, you should be able to use the deposit you’ve received from the buyer as the deposit for the property you’re buying yourself.

Pre-contract deposit (or holding deposit)

If you’re buying a new-build and the developers have accepted your offer, you may be asked to pay a small pre-contract deposit to demonstrate that your offer is a serious one and for the developers to take the property off the market. This is usually between £500 and £1,000.

There’s been some controversy around this practice, with many seeing it as an unscrupulous charge. However, the Property Ombudsman’s code of conduct allows it, as long as it’s done properly. This means estate agents must set out in writing how the money will be used, and whether it’ll be returned if the deal breaks down. Your conveyancer will be able to advise you on this.

Are there hidden costs I need to look out for?

Any reputable conveyancer will pride themselves on being completely open and transparent about their costs. But in any case, you should always read the small print terms and conditions to make sure you’re not being charged any hidden extras.

These can take the form of:

  • administrative fees involving things like photocopying, printing and filling in forms
  • professional indemnity insurance

If you do find these kinds of charges in your quote, question them, as they should always be part of the conveyancer’s overall fee.

At Graysons, we’re always transparent and honest about our quotes and we’ll tell you upfront exactly what you’ll pay.

Related content

Conveyancing terms explained

Guide to buying a house

Guide to selling a house

You have landed on this page as Watson Esam has merged with Graysons

You can read more about the merger here. Graysons will be pleased to help with your enquiry. Please visit our web pages or contact us directly on 0114 358 9009

X CLOSE

scroll to top