Fee Estimates: Residential Conveyancing

Our experienced Residential Conveyancing team are able to offer expert and practical legal advice in all aspects of your transaction.

Freehold Sale

The average cost for a straightforward freehold residential sale is between £1750 and £6000 plus VAT ( currently20%).  Cost can be based on fixed fees or on hourly charges.  You will be informed when instructing us which applies to your matter.  The costs will include acting for the lender in relation to the mortgage redemption.

There are a number of factors that could make the matter more complex and, in turn, increase costs. These can include, but are not limited to: title issues; restrictive covenants; inadequate easements; obtaining indemnity insurance; and numerous additional enquiries raised by the buyer’s solicitors.

A factor that could decrease costs would be minimal additional enquiries raised by the buyer’s solicitors, resulting in fewer hours spent on the transaction.

Additional Disbursements

There are a number of disbursements and costs that may need to be paid in addition to the above costs including:

  • Official copy register entries of title and documents referred to in the title;
  • Indemnity insurance (cost varies depending on policy);
  • Storage charges (£40 plus VAT);
  • CHAPS charges (£35 plus VAT for each payment).


Timescales

Our team estimate that a typical transaction will take 3 months although a sale can be completed sooner if there is no chain and/or by personal attendance by the buyer’s solicitor at our offices

Freehold Purchase

The average cost for a freehold purchase is between £1750 and £8000 plus VAT (currently 20%).  Cost can be based on fixed fees or on hourly charges.  You will be informed when instructing us which applies to your matter.

The costs include all standard aspects of a conveyancing transaction including: acting for the mortgage lender; completion of stamp duty land tax form; registration at the Land Registry; and post completion requirements.

Factors that could make the matter more complex, and therefore increase cost, can include, but are not limited to: title issues; protracted transaction; overseas client; extensive enquiries; adverse survey; and price negotiations.

Additional Disbursements

There are a number of disbursements and costs that may need to be paid in addition to the above costs including:

  • Search fees – £250 – £500 (dependent on Local Authority);
  • Land registry fee – £20 – £910 (dependent on transaction value);
  • Stamp Duty (dependent upon property value. HMRC Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro );
  • Indemnity insurance (cost varies depending on policy);
  • Storage fee (£40 plus VAT at the prevailing rate);
  • CHAPS transfer fee (£35 plus VAT at the prevailing rate for each payment).
  • Assignment of guarantee (in the region of £50-100 plus VAT per guarantee).


Timescales

We estimate that the average timescale for a straightforward purchase is 3 months from initial instructions to completion.

Leasehold Sale

The average cost of a straightforward leasehold sale is between £1750 and £7500 plus VAT (currently 20%). Cost can be based on fixed fees or on hourly charges.  You will be informed when instructing us which applies to your matter.  The costs include acting for the lender on the mortgage redemption.

Factors that may make matters more complex/increase costs can include, but are not limited to: title issues; deeds of variation of lease; retrospective licence for alterations; supplemental lease of, for example, the roof void; and numerous additional enquiries raised by the buyer’s solicitors.

Factors that could decrease costs include a marketable lease with all the paperwork in order, and/or minimal enquiries raised by the buyer’s solicitors.

Additional Disbursements

There are a number of disbursements and costs that may need to be paid in addition to the above costs including:

  • Official copy register entries of title for both the freehold and leasehold;
  • Official copy lease and documents referred to in the title;
  • Management pack from the managing agents (costs vary between £250-400 plus VAT payable to the managing agents);
  • Indemnity insurance policies (cost varies depending on policy);
  • Storage charges (£40 plus VAT at the prevailing rate);
  • CHAPS charges (£35 plus VAT at the prevailing rate for each payment).


Timescales

A typical transaction is estimated to take 3 months, although it can be done very quickly if there is no chain and/or by personal attendance by the buyer’s solicitor at our offices.

Leasehold Purchase

The average cost is between £1750 and £10,000 plus VAT (currently 20%). Cost can be based on fixed fees or on hourly charges.  You will be informed when instructing us which applies to your matter.  The costs include all standard aspects of a conveyancing transaction, including: acting for the mortgage lender; completion of stamp duty land tax form; registration at the Land Registry; and post completion requirements.

Factors that could make the matter more complex, and therefore increase costs, can include, but are not limited to: title issues; protracted transaction; overseas client; extensive enquiries; adverse survey; and price negotiations.

Additional Disbursements

There are a number of disbursements and costs that may need to be paid in addition to the above costs including:

  • Search fees £250 – £500 (dependent on Local Authority);
  • Land registry fee £20 – £910 (dependent on transaction value);
  • Stamp Duty (Will be dependent upon property value. HMRC Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro );
  • Indemnity insurance (cost varies depending on policy);
  • Deed of Covenant (an average cost is around £100 plus VAT);
  • Landlord’s Notice fees (an average cost is around £100 plus VAT);
  • Storage charges (£40 plus VAT at the prevailing rate);
  • CHAPS charges (£35 plus VAT at the prevailing rate for each payment);
  • Assignment of guarantee (in the region of £50-100 plus VAT per guarantee).


Timescales

We estimate that the average timescale is 3 months from initial instructions to completion, however this is dependant on the complexity of the transaction.

Residential Re-mortgage

The average cost for a straightforward residential re-mortgage is between £750 and £3500 plus VAT (currently 20%).  Cost can be based on fixed fees or on hourly charges.  You will be informed when instructing us which applies to your matter.  The costs include acting for the old lender on the mortgage redemption and acting for the new lender in perfecting its security.

Factors that could make the matter more complex, and therefore increase costs, can include, but are not limited to: title issues; issues arising from the local authority search; environmental search; residential drainage and water search; chancel repair search; and requirements of lenders.

Factors that could decrease costs include a marketable title with all the paperwork in order.

Additional Disbursements

The disbursements that may need to be paid in addition to the above costs include:

  • Official copy register entries of the title and documents referred to in the title;
  • Search fees £250 – £500 (dependent on Local Authority);
  • Indemnity insurance policies (cost varies depending on policy);
  • Storage charges (£40 plus VAT at the prevailing rate);
  • CHAPS charges (£35 plus VAT at the prevailing rate for each payment);
  • Land Registry fees;
  • Bankruptcy search fees.


A typical transaction will take between 1-2 months although it can be quicker if the mortgage offer is made promptly and the search results come through without delay.

The team

Our residential property team is led by Oonagh Alen-Buckley, a Partner based in London who has over 37 years of post-qualification experience in dealing with all residential property matters. Oonagh is also supported by a strong team of skilled and experienced individuals. Click on the links below to see their individual profiles.

Other team members
  • Janice Pope – Associate Solicitor
    Janice gained her LLB (Hons) and LPC from London Metropolitan University and has 12 years post qualification experience.  Janice currently works in Conveyancing at Alen-Buckley.

  • Nicholas Tobin – Paralegal
    Nicholas has a Law degree and PLC.  Nicholas currently works as a Paralegal at Alen-Buckley, spending 100% of his time dealing with property matters.

For more information

For more information about using our professional services for residential property matters, please get in touch either by telephone, email or our website enquiry form.  One of our team would be delighted to speak to you and provide you with a fixed fee bespoke to your needs.