Residential Conveyancing Process And Fees
We have set out below a brief outline of the conveyancing process for selling and for buying your home, followed by examples of our fees. The fee structure varies dependent upon the price and type of property, and the quoted fees are based upon the average or normal transaction. Our fees cover all of the work required to complete the sale or purchase of your home, including dealing with your mortgage lender, registration at the Land Registry and dealing with the payment of any Stamp Duty Land Tax. They also include the disbursements, which are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of these disbursements on your behalf. The fees would only increase if your transaction became more time consuming or more complex than would normally be expected, and examples of things that may give rise to additional expenses are given below. Fees are charged for abortive transactions on a pro rata basis. Please note that we do not pay referral fees to anyone for introducing clients to us.
How long the process will take from the offer being accepted until you, or your buyer, can move in to the property will depend on a number of factors. The average process takes between 8 – 16 weeks. It can be quicker or slower, depending on the number of parties in the chain, any new build properties in the chain, and any property in the chain with title problems to resolve.
The precise stages involved in the sale or purchase of a residential property vary according to the circumstances.
These are the usual key stages for a sale:
- Take your instructions, process your identification documents and give you initial advice
- Obtain your title deeds from you or your lender or the Land Registry
- Arrange for you to complete the property information forms to be provided to the buyer
- Obtain a seller’s information pack from any landlord or management company
- Draft and send out the contract and information forms to the buyer’s solicitor
- Deal with any enquiries from the buyer’s solicitor
- Meet with you to clarify any final issues and to sign the contract and transfer deed
- Agree the completion date (date by which you must move out of the property)
- Exchange contracts and notify you that the completion date is fixed
- Arrange to obtain a mortgage repayment figure from your mortgage lender(if relevant)
- Complete the sale on the agreed completion date and arrange for keys to be released
- Deal with repayment of any mortgage
- Settle any estate agent’s fees
- Provide you with the net proceeds of sale
Our typical fees for the sale of a freehold or leasehold residential house (excluding probate sales):
| Sale Price | Up to £125,000 | £125,001 – £250,000 |
|---|---|---|
| Legal Fees | £700 | £750 |
| VAT Payable | £140 | £150 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 |
| Land Registry Document Fees | £28 | £28 |
| Estimated Total: | £910 | £970 |
| Sale Price | £250,001 – £500,000 | £500,000 – £750,000 | Above £750,000 |
|---|---|---|---|
| Legal Fees | £850 | £900 | £950 |
| VAT Payable | £170 | £180 | £190 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 | £6 |
| Land Registry Document Fees | £28 | £28 | £28 |
| Estimated Total: | £1090 | £1,154 | £1210 |
Any estate agent’s fees are payable to the estate agent in addition.
Circumstances that may increase the cost:
- Missing documents of title or relating to work carried out to the property.
- Arranging title indemnity insurance.
- Sale price below amount owing on a mortgage.
- Resolving any title or lease problems.
- Shared ownership schemes.
Our typical fees for the sale of a leasehold residential apartment/flat (excluding probate sales):
| Sale Price | Up to £250,000 | £250,001 – £500,000 | Above £500,000 |
|---|---|---|---|
| Legal Fees | £950 | £1,100 | £1,200 |
| VAT Payable | £190 | £220 | £240 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 | £6 |
| Land Registry Document Fees | £28 | £28 | £28 |
| Estimated Total: | £1,210 | £1,390 | £1,510 |
There will be fees payable to the landlord/management company for a seller’s information pack, typically they can charge us anywhere between £150 and £650.
Any estate agent’s fees are payable to the estate agent in addition.
Circumstances that may increase the sale cost:
- Missing documents of title or relating to work carried out to the property.
- Arranging title indemnity insurance.
- Sale price below amount owing on a mortgage.
- Resolving any title or lease problems, or extending the term of the lease.
- Shared ownership schemes.
These are the key stages for a purchase:
- Take your instructions and give you initial advice
- Process your identification documents and check finances are in place to fund the purchase
- Receive and advise on the contract documents
- Carry out the pre-contract searches
- Obtain further title, planning and guarantee documentation if required
- Make any necessary enquiries of the seller’s solicitor
- Go through conditions of mortgage offer with you, if you are borrowing to fund the purchase
- Provide a written report and give you advice on all documents and information received
- Meet with you to clarify any final issues and sign the contract, transfer and mortgage documents and advise you regarding joint ownership
- Agree the completion date (date can move in and become the owner of the property)
- Exchange contracts and notify you that the completion date is fixed
- Arrange for all monies needed to be received from you (and from your mortgage lender) and obtain pre-completion searches
- Complete the purchase on the agreed completion date and arrange for keys to be released
- Give notice of transfer of ownership (and mortgage) to any landlord
- Deal with payment of any Stamp Duty Land Tax
- Deal with the application for registration of your ownership at Land Registry
Our typical fees for the purchase of a freehold or leasehold residential house:
| Purchase Price | Up to £125,000 | £125,001 – £250,000 |
|---|---|---|
| Legal Fees | £750 | £850 |
| VAT Payable | £150 | £170 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 |
| Electronic money transfer fee (for SDLT payment incl VAT) | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 |
| Land Registry Search Fees | £26 | £26 |
| Estimated Total: | £1,004.00 | £1,124.00 |
| Purchase Price | £250,001 -£500,000 | £501,000 – £750,000 | Above £750,000 |
|---|---|---|---|
| Legal Fees | £900 | £950 | £1000 |
| VAT Payable | £180 | £190 | £200 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 | £36 |
| Electronic money transfer fee (for SDLT payment incl VAT) | £36 | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 | £6 |
| Land Registry Search Fees | £26 | £26 | £26 |
| Estimated Total: | £1,184 | £1,244 | £1,304 |
There will be other disbursements in addition which vary dependent upon the location of the property and the price. You need to add these to the estimated total above:
- Pre-contract Search fees (examples correct at 1st March 2022):
Manchester:£235.10 Oldham:£275.60 Stockport:£304.60 Tameside:£221.08
Trafford:£244.69 Bury:£318.20 Rochdale:£319.60 Salford:£319.60
Bolton:£331.60 Wigan:£368.79
(If a mining search is also required the additional fee is in the region of £56.00)
Land Registry registration fee(examples where title already registered):
| Price | Fee |
|---|---|
| Up to £80,000 | £20 |
| £80,001 – £100,000 | £40 |
| £100,001 – £200,000 | £100 |
| £200,001 – £500,000 | £150 |
| £500,001 – £1,000,000 | £295 |
Stamp Duty Land Tax. This depends on the purchase price of your property. You can calculate the amount you will need to pay by using:-(Please note this is for properties purchased after 22 Sept 2022) https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
Circumstances that may increase the purchase cost:
- Additional identification and finance checks for gifted deposits or funds from abroad
- Purchase of a new build property.
- Arranging title indemnity insurance.
- If a separate solicitor is acting for your mortgage lender
- Release of funds from Help to Buy ISAs.
- Resolving any title or lease problems, or extending the term of the lease.
- Shared ownership schemes.
- Declarations of Trust.
Our typical fees for the purchase of a leasehold residential apartment/flat:
| Purchase Price | Up to £125,000 | £125,001 – £250,000 |
|---|---|---|
| Legal Fees | £900 | £1050 |
| VAT Payable | £180 | £210 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 |
| Electronic money transfer fee (for SDLT payment incl VAT) | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 |
| Land Registry Search Fees | £26 | £26 |
| Estimated Total: | £1,184 | £1,364 |
| Purchase Price | £250,001 – £500,000 | £501,000 – £750,000 | Above £750,000 |
|---|---|---|---|
| Legal Fees | £1100 | £1,200 | £1300 |
| VAT Payable | £220 | £240 | £260 |
| Electronic Money Transfer Fee (for each transfer incl VAT) | £36 | £36 | £36 |
| Electronic money transfer fee (for SDLT payment incl VAT) | £36 | £36 | £36 |
| Electronic ID (per person incl VAT) | £6 | £6 | £6 |
| Land Registry Search Fees | £26 | £26 | £26 |
| Estimated Total: | £1,424 | £1,544 | £1,664 |
There will be other disbursements in addition which vary dependent upon the location of the property and the price. You need to add these to the estimated total above:
Pre-contract Search fees (examples correct at 1st March 2022):
Manchester:£235.10 Oldham:£275.60 Stockport:£304.60 Tameside:£221.08
Trafford:£244.69 Bury:£318.20 Rochdale:£319.60 Salford:£319.60
Bolton:£331.60 Wigan:£368.79
(If a mining search is also required the additional fee is in the region of £56.00)
- Land Registry registration fee (see above under “residential house” purchase details)
- Stamp Duty Land Tax. (see above under “residential house” purchase details)
- Fee charged by landlord/management company for receiving notice of transfer/mortgage (these vary between £40.00 and £600.00)
Circumstances that may increase the purchase cost:
- Additional identification and finance checks for gifted deposits or funds from abroad
- Purchase of a new build property.
- Arranging title indemnity insurance.
- If a separate solicitor is acting for your mortgage lender
- Release of funds from Help to Buy ISAs.
- Resolving any title or lease problems, or extending the term of the lease.
- Shared ownership schemes.
- Declarations of Trust.
For impartial advice and guidance, please contact us at our Failsworth office on 0161 681 4005 or email failsworth@hlfberry.com or at our Chorlton office on 0161 860 7123 or email chorlton@hlfberry.com
