Conveyancing Costs
Understanding Conveyancing Fees and Costs
Conveyancing costs can vary depending on the property, the type of transaction and the legal work involved. Understanding how conveyancing fees are structured can make it easier to compare quotes and know what you are likely to pay.
This section of our Conveyancing Guides explains the different costs involved, including conveyancing fees, disbursements, what should be included in your quote and when you will normally need to make payments.
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What Are Conveyancing Costs?
Conveyancing costs are the fees and expenses associated with the legal work required when buying, selling or remortgaging a property.
Your overall cost will usually include the conveyancer’s charge for carrying out the legal work together with payments made to other organisations as part of the transaction. These third-party costs are commonly referred to as disbursements.
The amount you pay can depend on factors such as whether you’re buying or selling, the value and type of property, whether it is freehold or leasehold and whether additional legal work is required.
When comparing conveyancing quotes, it is therefore important to look at the overall cost and what is included rather than simply comparing the headline legal fee.
Our guides below explain the main elements of conveyancing costs so you can understand quotes more easily and know what to look for before instructing a conveyancer.
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What Can Make Up Your Conveyancing Costs?
A conveyancing quote can contain several different types of fees and expenses. The exact costs will depend on your transaction, but understanding the main categories can make quotations easier to compare.
Legal Fees
This is the amount charged by the conveyancer for carrying out the legal work involved in your transaction. The fee can vary according to the type and complexity of the work required.
Property Searches
When buying a property, your conveyancer may need to order searches covering matters such as local authority information, drainage and water and environmental issues. The searches required can depend on the property and its location.
Other Disbursements
A conveyancer may need to make other payments to third parties during the transaction. These can include charges for obtaining information, carrying out checks or dealing with registration requirements.
Property & Transaction Type
Costs can vary depending on the work involved. Leasehold property, shared ownership, new-build purchases and other transactions with additional legal requirements may involve more work than a straightforward transaction.
Additional Legal Work
Sometimes an issue arises that requires work outside the normal scope of the original quotation. Your conveyancer should explain any additional charges that apply and why the extra work is necessary.
Taxes and Other Payments
Depending on the transaction and your circumstances, your conveyancer may also deal with other payments connected with the property transaction, including Stamp Duty Land Tax in England or Land Transaction Tax in Wales where applicable.
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Conveyancing Costs
Conveyancing fees, disbursements, what’s included in a quote and when fees are paid.
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