Our policy is to charge for conveyancing of residential property on a time spent basis. We will provide you with an estimate of the cost of your transaction once we have the full details of the transaction and know what work is likely to be involved. We will not usually fix the price in advance. If you require a fixed price, then you must ask us, and we will decide whether or not to offer one.
Our charge for time spent on conveyancing of residential property is £125 per hour plus VAT (£150 inclusive of VAT). The following are estimates of the average costs involved in a conveyancing transaction where the property is worth up to £1,000,000:
Leasehold Purchase with Mortgage
These estimates assume:
(a) a standard transaction with no unforeseen matters arising such as a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
(b) the assignment of an existing Lease rather than a grant of a new Lease
(c) the transaction is concluded in a timely manner and no unforeseen complication arises
(d) all the parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
(e) no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Disbursements are costs and fees we have to pay out to third parties during the course of your transaction. They are payable in addition to our fees. They include:
(a) Due Diligence Pre-Contract Search Fees
(b) Land Registration Fees
(c) Stamp Duty Land Tax
Although strictly not a disbursement, we will also charge £40.00 plus VAT for effecting a CHAPS bank transfer on your behalf.
These are essential if you are purchasing or mortgaging your property. They vary according to the geographical location of the property. This is because different local authorities charge different fees and because the nature and type of searches we have to carry out depend upon where your property is located e.g. if it is in the country or town; if it is in a mining area and also because some searches are optional. We provide you with a detailed quote for the search fees once you instruct us but on average, search fees will be in the region of £400 inclusive of any VAT per property.
These will vary according to the nature of the transaction and the value of the property. The fees can be viewed on HM Land Registry’s website.
The amount of SDLT you will have to pay will depend upon the amount you are paying for your property and certain factors laid down by the Government. A guide to SDLT and calculator can be found on HMRC’s website.
Our fees cover all the work required to complete your transaction including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax if the property is in England or Land Transaction Tax if the property is in Wales.
Our prices cover all the work we need to carry out to complete your transaction and achieve your objective. A purchase will typically involve the following work:
A residential conveyancing transaction can take as a little time as a few days or as much as 3 months or more to complete. A typical purchase will take 6 weeks to exchange of contracts and a further 4 weeks to complete – total 10 weeks.
The following factors may affect the speed at which your transaction progresses:
Please see the information regarding Our Team. Your transaction will be carried out and supervised by an experienced conveyancer.
Colin Roer heads up our conveyancing department and has over 40 years of experience as a conveyancer during which time he has completed an estimated 2,000 conveyancing related transactions. He spends approximately 30% of his time on conveyancing related matters.
Sandy Grover has 16 years’ experience working as a conveyancer and, currently, she works full time as a residential conveyancer. She estimates that she has completed over 500 conveyancing transactions.
Martin Shreeves is a manager and supervises conveyancing transactions carried out in our practice. He has 40 years’ experience working in a solicitors practice and has been a partner in the firm of Barker Gooch & Swailes since 1981. He deals with problems arising during conveyancing transactions and provides a supervisory role.