understanding your quote
Conveyancing Costs Explained
A conveyancing quote is made up of several different legal fees and third-party charges. Here is what each one is for, and why it appears on your quote.
What are you actually paying for?
Conveyancing quotes are often daunting and a bit confusing, especially if they aren't something you are used to looking at.
Quotes contain different fees and disbursements that change from property to property and conveyancer to conveyancer. So what are they, and why do you need to pay them?
Conveyancing costs are broken down into two parts: legal fees and disbursements.
Legal Fees
What we charge for the work that we do on your sale or purchase.
Disbursements
Third-party fees we incur, as your conveyancers, in obtaining certain information on your behalf.
Legal Fees
These are the fees we charge for carrying out the conveyancing on your property. Our legal fees work on a scale dependent on the sale or purchase price of the property. This is the most effective way of providing a fair quote for the work carried out.
Legal Fees
Charged on a scale according to the sale or purchase price, so the quote reflects the work involved.
Telegraphic Transfer Fee
Charged to undertake a same-day transfer via the CHAPS payment system. This will be a requirement of the sale if you have a mortgage, and of the seller's solicitors on your purchase. It ensures the money reaches the other account the same day, so completion is not delayed.
Completing and submitting the Stamp Duty Land Tax return
Even if you are not liable to pay Stamp Duty Land Tax, HMRC still need to be informed about the transaction. There is a form that has to be completed and submitted to HMRC, which carries a high level of liability to provide the correct information. This is our fee for carrying out that work.
Electronic ID Checks
In every transaction we must carry out anti-money-laundering and ID checks on all our clients, to confirm you are who you say you are and that the transaction is not fraudulent. This is our fee for carrying out that search.
Disbursements
Disbursements are costs incurred by us on your behalf. Most disbursements will be similar between firms, as they tend to be fixed fees set by a third party. Which disbursements apply will vary depending on whether you are buying or selling.
Land Registry official copies
These are essentially your deeds to the property. They are no longer large sheets of old-fashioned paper but are stored electronically with HM Land Registration who charge a fee to obtain copies. The cost depends on the number and type of documents we need to retrieve.
Search package
The standard pack covers the Local Authority, Drainage and Water and Environmental searches carried out on a property as part of a purchase. They are usually a requirement of any mortgage lender and highlight important information about the property and the surrounding area. The three searches are explained below.
Chancel repair liability insurance
Chancel repair liability is the obligation on homeowners to contribute towards the maintenance and repair of the local parish church. Searches can be carried out to assess whether the property is in an area where this is likely to affect you, but these can be costly. Instead, we would usually obtain an insurance policy at a slightly lower cost to cover the possibility.
Land Registry search
A pre-completion search, carried out to ensure there have been no changes to the title since the contracts were received. It also protects your interest, or that of your mortgage lender, in the property between completion and registration.
Land Charges (bankruptcy) search
If you are having a mortgage, it is usually a condition of the lender that bankruptcy searches are carried out on you as a buyer, to make sure there are no other charges registered with Land Registration that the bank has not been made aware of.
Land registration fee
A fee charged by HM Land Registration for registering the property into your name after completion. It is based on the value of the property and how the property is currently registered. The two scales are set out below.
Stamp Duty Land Tax
A tax based on the purchase price of the property, calculated on a scale set out by HMRC. See the Stamp Duty Land Tax section below.
Other disbursements
We have set out the usual disbursements to be expected when buying and selling, however there can be additional disbursements in certain circumstances. Should these be required, we will always discuss them with you first and make you aware of what you are paying for and why.
What property searches cover
Three searches make up the standard pack on a purchase.
Local Authority Search
Reveals any building regulations and planning permissions that affect the property. It also shows whether the road the property abuts is a public highway, and whether there are any traffic calming measures in the vicinity.
Drainage and Water Search
Confirms whether the property is connected to mains foul and surface water drainage and the mains water supply. It also maps the closest known public sewers and water pipes to the property.
Environmental Search
Outlines whether there is any contamination in close proximity to the property, and whether the property is likely to suffer from any flooding, subsidence or mining issues.
Land Registry fee scales
HM Land Registration charge on a scale based on the property value and how the property is currently registered.
| Property value | By post | Electronic | Electronic – Lease / Part / First Registration |
|---|---|---|---|
| £0 to £80,000 | £45.00 | £20.00 | £45.00 |
| £80,001 to £100,000 | £95.00 | £40.00 | £95.00 |
| £100,001 to £200,000 | £230.00 | £150.00 | £230.00 |
| £200,001 to £500,000 | £330.00 | £295.00 | £330.00 |
| £500,001 to £1,000,000 | £655.00 | £295.00 | £655.00 |
| £1,000,001 and over | £1,105.00 | £500.00 | £1,105.00 |
Stamp Duty Land Tax
Stamp Duty Land Tax is a tax based on the purchase price of the property, and what you pay also depends on your personal circumstances. It is calculated on a scale set out by HMRC.
Work out what you will pay
To calculate what you will be liable to pay, we suggest using the official calculator on the HMRC website.
Don't forget...
Buying and selling houses is one of the biggest financial decisions and commitments most of us will ever make. While we know that most people will want to shop around for quotes, it is important to remember that the cheapest quote may not always be the most cost-efficient.
We try to keep our fees as competitive as possible while making sure all of our clients get the service, advice and expertise they deserve. We believe it is worth getting a number of quotes from a variety of firms, and choosing a firm with personal recommendations behind it, rather than simply taking the first option put in front of you.
Keep reading
Related conveyancing guidance
More guides to help you plan your move.
Top Tips for First-Time Buyers
What to sort out before you start looking, and what to expect once your offer is accepted.
Read the guide →
Purchases Explained
Every stage of a purchase, from initial instructions to registering the property in your name.
Read the guide →
Sales Explained
Every stage of a sale, from draft contracts and enquiries through to exchange and completion.
Read the guide →
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