If you’re moving to Newport, you’ll need a trusted and professional conveyancer to help you with the legal side of your purchase. Rest assured, Compare My Move can connect you with up to 5 licensed conveyancing solicitors and conveyancers, helping you save up to 70% on your conveyancing fees.
Every conveyancing partner that enters the Compare My Move network must be regulated by either the SRA, CLC, LSS, LSNI or CILEx to ensure they can work to the highest of standards. They will also be put through our strict verification process and continuously monitored by our expert new business team.
Your chosen conveyancer will explain any legal jargon you’re unsure of and will arrange the vital conveyancing searches that will provide you with further information about the property. The results of these searches will be essential to your Newport property purchase, helping you uncover any issues regarding drainage, ground stability, contaminated land and much more.
Your chosen conveyancer will be responsible for taking care of the legal side the property transaction. This means they will explain any complicated legal jargon you're unsure of and ensure every step is finished before your completion day. This includes finalising the contracts before they're signed.
For a more efficient process, instruct your conveyancer as soon as an offer has been accepted. Please note that additional steps may be added if you’re buying or selling a Help to Buy or leasehold property. The typical stages of the conveyancing process include:
According to the UK House Price Index, there were 2,298 existing properties sold in Newport over the last year and 58 new builds sold. Detached properties saw the biggest yearly difference in price, increasing by 16.9% in December 2021 alone.
Data taken from UK House Price Index
As the average house price in Newport is £223,575, we've determined that the average conveyancing fees when selling a freehold property is £1,270 and £1,420 when selling a leasehold property. If buying a freehold property instead, the average conveyancing cost is £1,320 and £1,490 for a leasehold property.
When budgeting for your house move, know that the conveyancing costs will vary but they're typically based on the value of the property you're buying or selling. However, factors such as the location and difficulty of the case will also affect the final costs.
Please note that your final cost will be made up of the conveyancer’s legal fee and the relevant conveyancing disbursements. If you're buying, this will include Land Registry fees and property searches. According to the Newport City Council website, the cost for a full Local Authority Search is £142.80 inc VAT.
Data taken from Compare My Move’s Moving House Calculator
After researching the average length of the conveyancing process, we discovered that the process takes approximately 129 days to complete in Newport and Wales. According to Get Agent, the entire buying and selling process in this region of the UK, from the initial listing to completion, takes 273 days. This means the conveyancing process accounts for less than half of the recorded timescale.
Newport's average is actually lower than the national average of 156 days. However, conveyancing in the city will take longer if you're buying or selling a leasehold property. This is due to the additional paperwork required, thus a bigger workload for your solicitor.
Whilst conveyancing takes an average of 8-12 weeks to complete in the entirety of the UK, this timescale can vary depending on a variety of factors. These include the difficulty of the case, the location and the chosen law firm.
Data taken from Get Agent
One of the main responsibilities of your conveyancer will be arranging the necessary conveyancing searches. This will include a Local Authority, an Environmental search and a Water and Drainage search. The results of these vital searches will reveal any risks of flooding, subsidence, ground instability and radon gas. Other environmental and legal issues may also be uncovered.
According to the National Resources Wales map, there are a number of streets in Newport that may be at risk of flooding. The River Usk is one of the main causes so it’s important to know your property’s proximity to it. However, there are also other bodies of water such as the Ebbw River and the River Severn that may also contribute to the risk.
According to Geobear’s UK Subsidence Map, Newport properties are not at risk of subsidence. There is a small hotspot to the North-East of the city that may contain a low to medium risk. But overall, Newport movers should not be overly concerned.