Our costs

We offer a fixed-fee service for sales, purchases and remortgages* – please see the relevant section for each below. The fixed fee will cover the services mentioned. If your case requires additional work that is not included, you will be told about the additional costs at the earliest possible time.

All work carried out by trainees or other unqualified members of the team is supervised and our fixed fees include the cost of a senior member of staff reviewing the work.

* Our fee assumes that:

  • This is a standard transaction involving registered land in England and Wales, and that no unforeseen matters arise including (but not limited to), for example, a defect in title that requires remedying before completion or the preparation of additional documents in support of the main transaction
  • If you are taking out a mortgage, it is a standard residential mortgage
  • The information you provide is correct
  • The property is not being bought or sold at auction
  • If you are buying, the property you are buying will be your primary residence
  • If you are buying, you are not using a help-to-buy, shared ownership or right-to-buy scheme
  • There are no unusual or exceptional matters revealed by the documentation (e.g. court proceedings or an ownership dispute)
  • The transaction is concluded in a timely manner
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties in providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required

Fixed conveyancing costs: sales

VAT is payable in addition to the fees listed below

Sale price

Freehold property

Leasehold property

Up to £150,000

£650

£850

£150,001 to £250,000

£650

£850

£250,001 to £350,000

£850

£1,050

£350,001 to £500,000

£920

£1,100

£500,001 to £750,000

£1,100

£1,300

£750,001 to £1,000,000

£1,300

£1,500

£1,000,001 and above

0.14% of sale price

0.15% of sale price

Fixed conveyancing costs: purchases

VAT is payable in addition to the fees listed below

Purchase price

Freehold property (irrespective of mortgage)

Leasehold property unless a mortgage is required and it is a new-build

Leasehold with mortgage and it is a new-build property

Up to £200,000

£700

£900

Add £200 to leasehold quote i.e. in this price range cost will be £1,100

£200,001 to £300,000

£800

£900

£300,001 to £400,000

£900

£1,100

£400,001 to £500,000

£1,000

£1,200

£500,001 to £600,000

£1,200

£1,400

£600,001 to £700,000

£1,300

£1,500

£700,001 to £800,000

£1,450

£1,650

£800,001 to £900,000

£1,500

£1,850

£900,001 to £1,000,000

£1,700

£1,950

£1,000,001 to £1,200,000

£2,000

£2,250

Fixed conveyancing costs: mortgages and remortgages

VAT is payable in addition to the fees listed below

Mortgage Advance

Fees

Up to £500,000

£500

£500,001 to £700,000

£600

£700,001 to £900,000

£800

£900,001 to £1,000,000

£900

£1,000,001 to £1,200,000

£1,150

Examples of our fixed costs

Buying a freehold residential house for £300,000

Conveyancer’s fees and disbursements:

  • Legal fee £800 plus VAT of £160
  • Search fees £400: this amount will vary according to what searches are required; these depend on where the property is located, and your and any lender’s requirements, plus the cost of the searches.
  • HM Land Registry fee: £135
  • Electronic money transfer fee: £10 plus VAT of £2

Estimated total: our costs £960 (including VAT) plus disbursements of approximately £546. In addition, you may need to pay HM Revenue & Customs or the Welsh Revenue Authority Stamp Duty Land Tax or Land Transaction Tax (see below).

Disbursements are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of disbursements on your behalf to ensure a smoother process and will ask you for money on account to cover some of the upfront costs.

Stamp Duty or Land Transaction Tax: what you need to pay depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or, if the property is in Wales, by using the Welsh Revenue Authority’s website.

Note: Our fixed-fee costs figure assumes the matters mentioned in the Our Costs section (i.e. the basis e.g. hourly rates, fixed fees).

Buying an existing leasehold for a residential property for £300,000

Conveyancer’s fees and disbursements

  • Legal fee: £1,100 plus VAT of £220
  • Search fees: £400, although this amount will vary according to what searches are required; these depend on where the property is located and your and any lender’s requirements, plus the cost of the searches.
  • HM Land Registry fee: £135
  • Electronic money transfer fee: £10 plus VAT of £2

Estimated total: our costs of £960 (including VAT), plus disbursements of approximately £546. You may also need to pay extra disbursements and the HM Revenue & Customs or the Welsh Revenue Authority Stamp Duty Land Tax or Land Transaction Tax (see below).

Disbursements are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of disbursements on your behalf to ensure a smoother process and will ask you for money on account to cover some of the upfront costs. Certain extra disbursements will be set out in the individual lease relating to the property. We set out below the extra disbursements we anticipate. This list is not exhaustive and other disbursements may apply, depending on the term of the lease. We will update you on the specific fees when we receive the lease from the seller’s solicitors.

Anticipated extra disbursements:

  • Notice of transfer fee: If you are going to be charged this, it will be set out in the lease. It is usually between £20- £50, plus VAT
  • Notice of charge fee (if the property is to be mortgaged): This fee is set out in the lease. It is usually between £20 and £50, plus VAT
  • Deed of Covenant fee: This fee is provided by the management company for the property and can be difficult to estimate but is often between £250 and £450, plus VAT
  • Certificate of Compliance fee: The amount is confirmed on receipt of the lease; it usually ranges between £50 and £250

In view of the above example, the Grand Total would be our costs £960 (including VAT), plus disbursements (including the extra disbursements) of approximately £1,546 approximate plus Stamp Duty Land Tax or Land Transaction Tax.

Stamp Duty Land Tax/Land Transaction Tax: this depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or, if the property is located in Wales, by using the Welsh Revenue Authority’s website.

Note: Our fixed-fee costs figure assumes the matters mentioned in Our Costs section.

Sale of a freehold residential house for £300,000

Conveyancer’s fees and disbursements:

  • Legal fee: £850 plus VAT of £170
  • Land Registry fees: £6, although this figure will vary depending on the number of documents we need to get from the Land Registry
  • Electronic money transfer fee: £10 plus VAT of £2

Estimated total: our costs £1,020 (including VAT), plus disbursements of approximately £18.

Disbursements are costs related to your matter that are payable to third parties, such Land Registry fees. We handle the payment of disbursements on your behalf to ensure a smoother process.

Note: Our fixed-fee costs figure assumes the matters mentioned in Our Costs.

  1. Mortgage/Remortgage for £300,000

Conveyancer’s fees and disbursements:

  • Legal fee: £500 plus VAT of £100
  • Search fees: £400, although this figure will vary according to what searches are required; these depend on where the property is located and the lender’s requirements, and the cost of the searches. For example, the lender may accept search insurance, which will reduce the cost of the search fees
  • HM Land Registry fee: £40
  • Electronic money transfer fee: £10 plus VAT of £2

Estimated total: our costs £600 (inclusive of VAT) plus disbursements of approximately £452

Disbursements are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of disbursements on your behalf to ensure a smoother process and will ask you for money on account to cover some of the upfront costs.

Note: Our fixed-fee costs figure assume the matters mentioned in Our Costs section.

 

 

 

 

 

 

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Our Experts

Amanda Hibbard

Amanda Hibbard

Property Law Partner

Email: ahibbard@lyonsdavidson.co.uk

Direct Dial: 0117 904 5854


Marcia Lopes

Residential Property Legal Executive

Email: mlopes@lyonsdavidson.co.uk

Direct Dial: 0117 904 9226


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