Conveyancing Costs and Fees: What to Expect

Buying a house is no easy feat. It’s usually the largest purchase you’ll ever make, so it understandably comes with a lot of extra costs and fees to properly complete the transaction. The last thing you want to do is choose a solicitor's conveyancing services only to discover hidden costs you weren’t aware of. 

In this blog, we’ll outline everything you need to know about the costs and fees for your residential conveyance.

Conveyancing quotes

When you receive a quote from your conveyancing solicitor, it should include two parts, the basic fee and disbursements.

The basic fee

The basic fee covers your solicitor’s time and expertise for processing the transaction. This can vary a lot between firms but around £500 is the average. When looking for a solicitor you should keep in mind that a higher cost doesn’t automatically mean a better service and if a service is very cheap, there is usually a reason for that and you should probably avoid those solicitors.

Disbursements

Disbursements are the items your conveyancing solicitor will have to pay on your behalf to third parties and are usually payable irrespective of whether or not your conveyancing offers a ‘no move no fees’ service. The cost of each disbursement should be about the same from one quote to another as they are fixed charges. 

How much should you expect to pay?

For a good conveyancing solicitor and selling a property under £500k, you can expect to pay £600-£800 with a mortgage. If it is a leasehold, add £150-£400 and if there is no mortgage subtract £50. For a high-end conveyancing service, it will cost around £1000- £2000, but it isn’t necessary when selling.

If you are buying only, decent conveyancing should cost around £1,000-£1,500 if buying a freehold property with a mortgage. Add £150-£400 if it’s leasehold and Subtract £100 if you’re buying with cash. High-end conveyancing services cost around £1,500 – £3,000. These kinds of conveyancing services are worth investing in if you are buying a new build, leasehold or anything out of the ordinary.

Speak to the experts at PJE Solicitors today to learn more about our residential conveyancing and commercial conveyancing fees. We are always happy to advise.