You can use our conveyancing fees calculator to find out an estimate for what your fees may be. Property solicitors calculate their quotes based on various factors. These include how much time they estimate they will spend on your case, disbursements, and additional costs relating to your case.
A general rule of thumb is that the more complex your case is, the higher your conveyancing fees will be. Another component that can drive up the fees is the property value.
The average conveyancing fees for buying a property are £2,339 and £1,690 for selling a property. This is based on the average UK house price of £277,000. It includes legal fees, disbursements, and any extra costs. These additional costs are dependent on various factors.
Complex cases can incur extra costs due to the work involved for your conveyancer. The conveyancing process can be prolonged in complex cases which may drive up the cost of legal fees. Here are some extra costs to bear in mind:
If you are buying or selling a leasehold property, the average costs are higher. This is because more documentation has to be submitted by your conveyancing solicitor. Extra costs can include Leasehold Enfranchisement which is when the buyer wishes to purchase the freehold.
Read more about Leasehold Solicitors.
There are additional fees when purchasing new build properties. Not every solicitor deals with new build properties, so you will have to hire a new build solicitor. This fee is usually requested upfront at the beginning of the conveyancing process.
Remortgaging is when you take out a new mortgage to pay off an existing mortgage on your home. If you plan to remortgage before your agreement has ended, you will have to pay a larger amount, known as an early repayment charge.
Transfer of equity is when a party is removed or added to the deeds of a property. You will need to hire a transfer of equity solicitor to carry out the legal process.
Conveyancing takes between 8 and 12 weeks from when an offer is accepted. If you have specific requirements or there are complications, this can prolong the conveyancing process. This can include purchasing a leasehold property or being part of a property chain.
Read more about How Long Does Conveyancing Take
Conveyancing fees can add up, especially when dealing with complex cases. This means it's important to find the right conveyancing solicitor for you. Your estate agent may have recommendations. However, bear in mind that they may receive a referral fee.
There are steps you can take to save money. Here are some tips to keep in mind:
You can use our conveyancing fees calculator for a cost estimate. This provides you with an idea of what to expect when you receive your fees.
Compare My Move can connect you with up to 6 licensed conveyancers who are able to assist you. Simply fill out our comparison form. You can compare conveyancing quotes and save up to 70% on your fees.