‘Conveyancing’ refers to the legal process of transferring the ownership of a property from one person(s) to another. Conveyancing fees are the legal fees associated with buying and selling a home, including your solicitor’s fees, and fees they pay to third parties for searches and transfer fees, for example.
It is important that you understand conveyancing fees and how much you are likely to pay for selling or buying a home. This will help you plan accurately and avoid unexpected costs.
Eric Robinson Solicitors can provide you with an instant quote for conveyancing services using our instant quote tool. You can get an accurate quote no matter what your conveyancing needs are. Whether you’re buying, selling, buying a new-build, remortgaging or transferring equity, Eric Robinson Solicitors wants to make sure you are clear on all the costs involved before taking the leap.
What do conveyancing fees include?
Conveyancing fees are made up of the fee your Solicitor will charge for their services, and disbursements, which means fees they will pay to third parties on your behalf. These disbursements may include some or all of the following:
- ID Checks: the process of verifying your identity using documents like passports, birth certificates and utility bills.
- Anti Money Laundering Checks: the process of verifying the source of the funds that you are using for any property purchase.
- Property searches: a request to local authorities for information about a property including planning permissions, building regulations, and information about the local area eg. planned building developments locally.
- Land Registry Checks: a legal check which confirms the ownership, indicative boundaries and right of way around the property.
- Stamp Duty Land Tax (SDLT): the amount required when you purchase a property depends on the property’s value and the buyer’s circumstances.
- Gifted Deposit Checks: a legal check to confirm a gifted deposit is legitimate. It is required to comply with anti-money laundering regulations.
Are there any additional fees?
Sometimes, additional fees arise in conveyancing, such as if you have a particularly complex property transaction or due to the type of property.
- Leasehold Fees: if you are buying/selling a leasehold property, you will need to pay fees to the management company or landlord including ground rent, service charge or administration charges.
- Indemnity Policy: this may be required if a potential risk to the property transaction arises during the purchase such as disputed boundaries, a lack of building regulations for work already completed, or missing documentation. It protects against potential future legal issues and reassures all parties involved.
Factors that affect conveyancing fees
Every property transaction is different, and the amount you will pay in conveyancing fees will depend on the following factors:
- Whether you are buying, selling, or both. There is normally more to pay when you are buying than selling.
- The value of the properties involved: more expensive properties result in high rates of solicitor’s fees and disbursements.
- If you are a first-time buyer: you may have relief on some payments like SDLT, as well as not having a property to sell, thus saving money.
- The complexity of the transaction: if you require more checks or searches, the overall cost will increase.
Why choose Eric Robinson Solicitors
At Eric Robinson Solicitors, we understand that buying or selling a property is a big and potentially expensive decision. That’s why we are upfront on our conveyancing costs and have an easily accessible instant quote tool.
Our Conveyancing Solicitors have unparalleled expertise and have been helping people manage property transactions for over 60 years. Get in contact today to find more about how we could help you.
We have solicitors offices in Southampton, Hedge End, Chandlers Ford, Winchester, Lymington and Richmond-Upon-Thames.
FAQ’s About Conveyancing Fees
Are conveyancing fees negotiable?
At Eric Robinson we charge fixed fees for conveyancing services so in normal circumstances, conveyancing fees wouldn’t be negotiable. You can find out how much we charge for our conveyancing services using our instant quote tool.
Are conveyancing fees paid upfront?
Part of the conveyancing fees are usually paid with a deposit upfront, and then the remaining balance is paid upon completion of the sale.
Are conveyancing fees tax deductible?
Conveyancing fees are added to the cost of acquisition and sale of a property for the purpose of calculating capital gains tax.
Can conveyancing fees be added to the mortgage?
Conveyancing fees cannot be added to a mortgage. The conveyancing fees need to be paid upon the completion of the sale because they pay for the solicitor’s time as well as the services required to complete the transaction. A mortgage will only cover the cost of the property itself.
Do conveyancing fees include searches?
Yes, searches are a disbursement which is part of the conveyancing fees you pay.
Do you pay conveyancing fees when selling a house?
Yes, there are conveyancing fees to pay even if you are just selling a house and not buying. Selling fees are, however, less than buying fees.
Does the buyer or seller pay conveyancing fees?
Both the seller and buyer pay conveyancing fees to their own solicitors to manage their part of the sale and purchase process.
