Residential Conveyancing costs estimate: Sale only
All disbursements are payable in addition to our fees.
Any additional services not covered in the quotation may incur additional charges. For a complete list of our fees and anticipated disbursements please visit our Fee Transparency page. If you want to discuss this estimate further or request a written quotation, please click the “next” button and fill in your contact details on the following form. A member of our staff will reply to you.
Residential Conveyancing costs estimate: Purchase only
All disbursements are payable in addition to our estimated fees, these can include office copies entries, Stamp Duty, Fees payable to the land registry and search fees.
Please note that all online quotations are for estimation purposes only and are not binding. Any additional services not covered by the estimate may incur additional charges. If you would like to discuss this estimate further or request a written quotation, then please click the “next” button and fill in your contact details on the following form. A member of our staff will reply to you.
Residential Conveyancing costs estimate: Sale and Purchase
Purchase Costs
Sale Costs
All disbursements are payable in addition to our estimated fees, these can include office copies entries, Stamp Duty, Fees payable to the land registry and search fees.
Please note that all online quotations are for estimation purposes only and are not binding. Any additional services not covered by the estimate may incur additional charges. If you would like to discuss this estimate further or request a written quotation, then please click the “next” button and fill in your contact details on the following form. A member of our staff will reply to you.
Residential Conveyancing costs estimate: Transfer or Remortgage
| Re-Mortgage From | - | Re-Mortgage To | Our Fee | VAT | Total: |
|---|---|---|---|---|---|
| £0 | - | £500,000 | £400 | £80 | £480 |
| £500,001 | - | £1,000,000* | £600 | £120 | £720 |
*We do not perform conveyancing above this amount.
VAT will always be charged at the prevailing rate, the current VAT rate is 20%.
All conveyancing services are dealt with by Simon Barrett, a qualified solicitor.
Overview of a Residential Conveyancing Transaction in the UK
Residential conveyancing involves the legal process of transferring property ownership from the seller to the buyer. Here is a brief overview of the key steps involved, along with average timescales for each stage:
Instruction
Timescale: 1-2 weeks.
Process: The buyer and seller each instruct a solicitor or licensed conveyancer. The solicitors will exchange initial information and set up client files.
Pre-Contract Stage
Timescale: 2-8 weeks.
Process: The seller’s solicitor prepares the draft contract and gathers relevant documents, including property title deeds, and completes property information forms. The buyer’s solicitor conducts searches (local authority, environmental, drainage, etc.) and raises any pre-contract enquiries.
Mortgage,Searches and Survey
Timescale: 3-6 weeks (concurrent with pre-contract stage).
Process: The buyer arranges a mortgage (if applicable) and a survey of the property. The mortgage lender will carry out its own valuation.
Contract Approval and Exchange
Timescale: 1-2 weeks after pre-contract stage.
Process: The buyer’s solicitor reviews all information and resolves any queries. Once satisfied, the buyer and seller agree on a completion date and sign the contract. The exchange of contracts takes place, making the agreement legally binding. The buyer pays a deposit (typically 10% of the purchase price).
Between Exchange and Completion
– Timescale: Typically 1-4 weeks.
– Process: The solicitors carry out final checks and prepare for completion. The buyer arranges for the transfer of the remaining purchase funds to their solicitor.
Completion
Timescale: On the agreed completion date.
Process: The remaining purchase money is transferred from the buyer’s solicitor to the seller’s solicitor. The seller vacates the property and hands over the keys to the estate agent or directly to the buyer. Ownership is officially transferred to the buyer.
Post-Completion
Timescale: 2 weeks to 2 years.
Process: The buyer’s solicitor pays any Stamp Duty Land Tax (SDLT) due and registers the property with the Land Registry. The buyer receives the new title deeds. You can use the SDLT calculator available here: (https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/) to estimate your SDLT liability.
Average total Timescale
The entire process typically takes between 8 to 16 weeks, but it can vary depending on the complexity of the transaction and any delays that might arise such as property chains. More straightforward transactions may be completed more quickly, while more complicated ones can take longer.
Disclaimer:
Please note the timescales provided are average estimates and can be affected by various factors. Transactions can take longer or be delayed due to:
– Issues with Property Searches: Delays in obtaining search results from local authorities or other agencies.
– Mortgage Approval Delays: Longer processing times from mortgage lenders.
– Complexity of the Estate: Involvement of multiple parties, unusual property structures, or legal issues.
– Survey Discrepancies: Disputes or issues arising from the property survey.
– Title Problems: Complications with the property title, such as unresolved disputes or unclear ownership.
– Chain Transactions: Dependencies on other transactions within a property chain.
– Legal Complications: Unforeseen legal issues requiring additional documentation or resolutions.
– Buyer or Seller Delays: Delays from either party in providing necessary information or responding to queries.
– Negotiations: Protracted negotiations over contract terms or repairs.
– External Factors: Delays due to external factors such as public holidays, personal circumstances, or changes in regulations.
While every effort is made to ensure a smooth and timely conveyancing process, it is important to remain flexible and prepared for potential delays. Our team will keep you informed and work diligently to resolve any issues as efficiently as possible.
Please use our online estimate tool to calculate the Solicitors costs for your residential conveyance. All of our conveyancing is undertaken by Simon Barrett, a qualified solicitor with over 30 years of experience..