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The average conveyancing costs for buying a house is around £950, which includes £430 in conveyancing costs, £250 in search fees, and £270 in land registry fees and the average conveyancing costs for selling a house is £580, which includes legal fees and transfer costs.
Hiring a licensed conveyancer or a conveyancing solicitor is vital when you’re either selling or buying a house. You’ll need a property conveyancer to pay the disbursements on your behalf throughout the selling and buying process.
The thought of conveyancing costs can be daunting, and having a breakdown of what fees to expect throughout the process will be helpful. We’ve put together this guide to help you familiarise yourself with the conveyancing costs involved with buying and selling a house.
Conveyancing fees are made up of the legal fee you will pay to your conveyancer and the disbursements that your conveyancer will pay on your behalf.
The legal fee will be paid to your conveyancer for you using their service. Additionally, you'll have to pay disbursement fees for the transactions your conveyancer will do on your behalf. Most of the costs will come from the buyer’s side of the transaction, but here are the main disbursement fees to consider:
If you're worried about the costs, it is possible to do your own conveyancing. It's not as straightforward as hiring a professional as you will be responsible for arranging searches, sorting out Land Registry documents and arranging the completion date.
If you want to save stress, time and effort, it's always advised to hire a professional conveyancer. Get cheaper quotes by comparing conveyancers with Compare My Move.
The average conveyancing fees for a home buyer is around £950, which includes £430 in conveyancing costs, £250 in search fees, and £270 in land registry fees.
The average conveyancing fee when selling a house is £580, which includes legal fees and transfer costs. These averages are taken from our cost of moving house calculator based on the average house price for August 2018 which is £232,797 according to the House price index.
Please note that this is just a guideline for an average cost and conveyancing fees will vary depending on the value of your home and the conveyancer that you choose to go with.
There will be different fees for buying and selling and here we will break down those costs. Here’s the breakdown of the conveyancing costs for buying a house. First, a conveyancer will charge a basic fee for buying, not including disbursement costs. The costs are shown in the table below, followed by the additional disbursements.
|Property Value||Avg. Freehold Cost||Avg. Leasehold Cost|
|Up to £125,000 ||£415||£750|
|£125,000 - £250,000||£430||£750|
|£250,000 - £375,000||£460||£785|
|£375,000 - £500,000||£495||£810|
|£500,000 - £750,000||£665||£920|
|£750,000 - £1,000,000||£940||£1,060|
Most conveyancers offer a search package that can range from £250 to £450 and will vary via location. These searches will include local authority searches, environmental searches and drainage reports.
Your conveyancer has to prove that the seller is the legal owner of the house through the Land Registry.
This will prove you are going to be the new owner of the property.
Your conveyancer has to register you as the new owner of the property you are buying.
Stamp Duty will vary depending on the value of the property you’re buying.
|Property Purchase Price||Stamp Duty Rate||Payable Amount|
|Up to £125,000||0%||£0|
|£125,000 - £250,000||2%||£0 - £2,500|
|£250,000 - £925,000||5%||£2,500 - £36,250|
|£925,000 - £1,500,000||10%||£36,250-£93,750|
Here’s our breakdown of conveyancing fees for selling a house. There’s not as many conveyancing fees for selling as there are for buying a house. Below is the basic fee for selling a house, followed by other disbursements.
|Property Value||Legal Fee|
Getting land registry copies to the buyer’s conveyancer will prove you are the legal owner of the house you’re selling.
This is the cost for the conveyancer to transfer money to pay off your mortgage.
If you’re buying a property, you will have to pay upfront for the conveyancing searches they will undertake. Additionally, you will have to pay fees to your conveyancer throughout the process and on completion. Land Registry fees will have to be paid after completion.
If you’re selling your house, there’s a possibility you’ll have to pay a small upfront cost. The rest will be paid throughout the process and on completion.
If a conveyancer is offering a fixed fee, this means that you'll have pre-agreed a price for the job and it shouldn't change throughout the process. Make sure that it's clear what their fixed fee is offering and if it covers the disbursements and not just the basic fee.
By using a conveyancer who offers a fixed fee, you'll be able to budget and save money by knowing exactly how much it'll be. It's also important to see if the conveyancer is offering a 'no sale no fee', as this means if the sale was to fall through, you won't be charged the legal fees.
Fixed fee conveyancing is becoming increasingly popular now and it's rare that conveyancers will charge an hourly rate. Using a fixed fee service will work out cheaper as if any delays or issues were to crop up slowing down the process, you will still be charged per hour.
When you receive a quote from a conveyancer, it's important to ask for a breakdown of the cost so you know exactly what you're paying for.
If the quote seems too cheap, then you know this won't cover the whole process of conveyancing costs. More often than not, the quote will just show the conveyancer's basic fee and won’t include the cost of disbursements and additional hidden costs.
It’s essential to read the small print and ask the conveyancer for the full itemised list of costs involved. Your quote breakdown should feature a full list of the disbursement services and how much they are. Ask if there's any additional or hidden costs that could be specific to your property, such as:
Now that you know what to expect when it comes to conveyancing fees, why not save time and effort finding a conveyancer? At Compare My Move, we will connect you with up to 4 licensed conveyancers or conveyancing solicitors in your area.