Crystal clear pricing – residential conveyancing
How much will it cost to buy or sell my home?
Not all houses are the same and neither are the circumstances surrounding the sale or purchase of a home. There is generally more work to do on a purchase. Conveyancing fees will often increase as the value of the property increases – a more valuable property often has more issues to consider. Transactions involving new build properties or leasehold properties also involve more work. The length of time taken for a transaction will often vary depending upon the work involved. In our experience the average transaction takes between six and eight weeks for a freehold purchase and eight to ten for a leasehold purchase. The stages of work involved in any transaction can vary; please let us know if there is a timescale you have in mind so we can discuss this with you.
As a result it is not possible to give a ‘one size fits all’ quotation, but we can give you a good idea of likely costs. Please contact us online or call 0800 652 8025 to speak to one of our Solicitors or Legal Executives who will take detailed instructions from you to understand your personal situation, the nature of the transaction and your objectives before providing you with a quotation in accordance with our crystal clear price promise.
Below you can see two examples of a straightforward residential property transaction and a much more complex situation. In both examples we describe the total legal costs that would be incurred when using Clarke Willmott.
In each case, the work involved requires communication with our client, the other party’s solicitors and estate agents, drafting or reviewing the contract documents, raising searches and enquiries, reporting to you on our investigations, dealing with formalities of exchange and completion and dealing with the mortgage lender. On a purchase, we also have to file the Stamp Duty Land Tax (SDLT) return and register the transaction at the Land Registry.
We also set out an example of a re-mortgage transaction. We will obtain and review the title and consider the lender’s instructions. We liaise with the lender and any Landlord/management company. Searches are ordered (where necessary) and we prepare the mortgage deed for execution. We will redeem any existing charges and deal with any post completion requirements for lease compliance. We register the charge at HM Land Registry and send you the updated title upon receipt.
Case studies
| A simple residential property transaction | A complex property transaction |
| Sale and Purchase of freehold, detached residential properties that are already registered at the Land Registry. No issues relating to second homes arising. Selling and buying for £250,000 in each case. The purchase is being funded with the assistance of a mortgage from a high street bank or building society.
Sale fees: £1,350 + VAT at 20% and Land registry fees of £6. Purchase fees – £1,600 + VAT at 20% and the following payments to third parties:
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Purchase of Grade II listed country house that was part of a larger parcel of unregistered land, requires rights over the seller’s retained land at price of £3,000,000 with the assistance of a mortgage from a high street bank or building society.
Our fees £5,950 + VAT at 20% and the following payments to third parties:
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| Re-mortgage transaction | |
| A simple re-mortgage transaction
Remortgage of a freehold detached house which is already registered at HM Land Registry in the names of all registered proprietors. The Property is charged to the existing lender who is making a further advance. The lender does not require searches to be carried out, but the Lender requires a new mortgage deed to be executed. There is no need to redeem the existing mortgage, but the mortgage deed needs to be registered at HM Land Registry. A complex re-mortgage transaction Remortgage of a leasehold flat which is registered at HM Land Registry to A and B. A has agreed to sell their share in the Property to B and C. There is an existing mortgage but to a different lender. A transfer deed must be drafted to transfer the Property from A & B to B & C, and advice as to how B & C will hold the Property thereafter must be given. The lender requires full searches to be obtained and a review of the title to be carried out. A management company takes care of the day-to-day management of the building but employs a managing agent to assist them. The Landlord employs a managing agent to collect the ground rent on their behalf. The title contains a restriction preventing the disposition of the Property without a certificate signed by the management company or their conveyancer. The lease provides that a new owner must enter into a Deed of Covenant and serve notice on both the landlord and the management company. The deed of covenant is drafted and sent with the transfer and mortgage deed to B & C for signature. Notice is sent to both agents on completion with any associated fees. A redemption statement is required on completion to redeem the existing charge, and a payment must be sent to discharge the existing charge and to A for their share in the Property. SDLT may be payable and if so, a land transaction return will be drafted for signature and submission to HMRC. The transfer and mortgage deed are registered at HM Land Registry. Our fees are £1,250-1,750 plus VAT at 20% depending on whether the property is freehold or leasehold. |
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These examples apply to transactions by private individuals based in the UK. Where, for example, a party is based overseas, there is a complex funding structure or the property is to be purchased through a limited company or trust, bespoke fees will apply. These will be assessed on the complexity and extra work involved.
Fees for our services will either be fixed or charged on the basis of an hourly rate, depending on the circumstances. Where hourly rates (subject to VAT at 20%) apply, these will be:
| Status | Hourly rate |
| Partners | £320 per hour |
| Senior Associates | £235 per hour |
| Associates | £230 per hour |
| Solicitors/Legal Executives | £190 per hour |
| Trainees | £140 per hour |
| Paralegals | £125 per hour |
Hourly rates are reviewed annually. Current rates from 1 April 2024. Other teams may charge different hourly rates but we would advise you in advance of any changes to rates set out above.
How long will my property transaction take?
Perhaps unsurprisingly the length of time taken for a transaction will vary depending upon exactly what is involved and the work involved. In our experience the average transaction takes between six and eight weeks. The stages of work involved in any transaction can vary.
Who will manage my property transaction?
Clarke Willmott is regulated by the Solicitors Regulation Authority. We have eight legally qualified staff in our residential conveyancing team and all work is overseen by one of our residential conveyancing partners all of whom have many years experience. Our team has particular expertise in high value estates, rural and agricultural properties and working with major housing developers.
VAT & disbursements
Our fees and some disbursements are subject to VAT at 20%. Disbursements are charges payable in addition to our fees, normally to a third party. They can include fees payable to the Land Registry, barristers, search providers or technology providers. The amount charged for the disbursements depends upon a number of variables so we will be able to advise you of the correct charges when we have further information from you.
Contact a residential conveyancing solicitor
If you would like to find out more about how our conveyancing team can support you, you can contact Rod Lloyd Jones, Samantha Grimwood or Mark Buckerfield directly using the details given on their profile pages, or by calling 0800 652 8025.
Clarke Willmott has offices in Birmingham, Bristol, Cardiff, London, Manchester, Southampton and Taunton and we provide conveyancing advice to clients located within the UK and around the world.
