Residential Conveyancing Fees
Price Transparency
At Greystone Solicitors our aim is to be transparent and open about our fees. This information is provided in accordance with the SRA Transparency Rules. This price transparency information is provided to help you make an informed choice as to your legal provider and understand the services and prices for legal services which we provide that come within these rules.
The price transparency information provided below is only a guide, and does not constitute an offer of services that you can accept. Each individual instruction will receive a personal quotation from us, relevant to your instructions.
How much do conveyancing solicitors charge?
You can find full details of how we calculate our conveyancing charges below.
For a quote specifically tailored to your case please email us on info@greystonesolicitors.co.uk and we can give you an exact quote.
Our charges are made up of:
a) our fees for the legal work;
b) ‘disbursements’ – disbursements are costs related to your matter that are payable to other people, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process; and
c) for property purchases, Stamp Duty Land Tax (see below).
Where VAT is referred to below please note that this will be charged at the applicable rate, which is currently 20%.
Our legal fees are on a fixed fee basis, however should the matter become complex we will advise you prior to undertaking the matter on hourly rate basis.
The hourly rate depends upon the experience of the fee earner handling the matter:
| Details | Hourly Rate |
| Director | £300.00 per hour (Plus VAT) |
| Solicitors and legal executives with over 8 years’ experience | £300.00 (plus VAT) |
| Solicitors, CILEX or Costs Lawyers with at least 4 years PQE | £275.00 (plus VAT) |
| Other solicitors or legal executives and fee earners of equivalent experience | £250.00 (plus VAT) |
| Trainee solicitors, paralegals and other fee earners | £150.00 (plus VAT) |
Our fees - Sale
| Property Value | Our Fee start from (excluding) VAT |
|---|---|
| Up to £249,000 | £750.00 |
| £250,000 to £499,000 | £750.00 |
| £500,000 – £749,000 | £800.00 |
| £750,000 – £999,000 | £850.00 |
| £1 million – £2 million | £950.00 |
| £2 million and over | 0.10% of the price +VAT. Please do contact us for a more detailed quote. |
*Please note that these matters can vary. Further fees can be charged where you are instead selling a Shared Ownership property or redeeming multiple mortgages for example where you have a mortgage and also Help to Buy mortgage on the property.
Our fees - Purchase
| Property Value | Our Fee start from (excluding) VAT |
|---|---|
| Up to £249,000 | £950.00 |
| £250,000 to £499,000 | £950.00 |
| £500,000 – £749,000 | £950.00 |
| £750,000 – £999,000 | £950.00 |
| £1 million – £2 million | £1000.00 |
| £2 million and over | 0.10% of the price +VAT. Please do contact us for a more detailed quote. |
*Please note that these matters can vary. Further fees can be charged where you are instead purchasing a property with the aid of a mortgage, a new build property or with the aid of a Help to Buy mortgage, or Help to Buy ISA.
If you are buying and selling a property, then a charge would be made on both the sale and the purchase.
If you are simply re-mortgaging your property, our fees start from £400 excluding VAT plus disbursements.
If you are buying, selling or re-mortgaging a ‘leasehold’ property (rather than a ‘freehold’) then there is an additional charge starting from £100 excluding VAT.
Please note that VAT of 20% is also charged on all of our fees or legal work.
If, at any point during the transaction, money needs to be sent by telegraphic transfer, we charge a fee of £35 excluding VAT per transfer. The fee covers a bank’s charge(s) and also any administration costs we incur in sending funds electronically on completion.
Please note that there may be additional legal fees attributable depending on the specific nature of your transaction.
Disbursements
The ‘disbursements’ which you pay will depend upon whether you are buying or selling property or both, whether you are buying a freehold or leasehold property and the location and type of property concerned. Properties in certain locations for example need more searches and checks than others.
As with the legal fees, the disbursements will vary depending on the type of matter. Normally all clients who are buying a ‘freehold’ property will need to pay the following disbursements, however, this is not an exhaustive list. Further disbursements may be applicable depending on your transaction.
*Please note that these matters can vary. Further fees can be charged where you are instead purchasing a property with the aid of a mortgage, a new build property or with the aid of a Help to Buy mortgage, or Help to Buy ISA.
If you are buying and selling a property, then a charge would be made on both the sale and the purchase.
If you are simply re-mortgaging your property, our fees start from £400 excluding VAT plus disbursements.
If you are buying, selling or re-mortgaging a ‘leasehold’ property (rather than a ‘freehold’) then there is an additional charge starting from £100 excluding VAT.
Please note that VAT of 20% is also charged on all of our fees or legal work.
If, at any point during the transaction, money needs to be sent by telegraphic transfer, we charge a fee of £35 excluding VAT per transfer. The fee covers a bank’s charge(s) and also any administration costs we incur in sending funds electronically on completion.
Please note that there may be additional legal fees attributable depending on the specific nature of your transaction.
Sale
| Description | Fees |
|---|---|
| Office copies | £3 |
| Electronic ID Check | £12.60 per person |
Purchase
| Description | Fees |
|---|---|
| Land charges search | £2 per person |
| Electronic ID Check | £12.60 per person |
| Land Registration Fee | Based on property value |
| Stamp Duty | Based on property value |
If the property is a ‘leasehold’ property then the disbursements will be different and normally consist of:
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £0-£400 excluding VAT.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £0-£400 excluding VAT.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50-£360 excluding VAT.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £30-£360 excluding VAT.
- Leasehold Management Pack – This fee is chargeable when selling a leasehold property. Often it is between £90-£360 excluding VAT.
If you are simply re-mortgaging then we do not anticipate you incurring any disbursements [except for Notice, Deed of Covenant and Certificate of Compliance fees in line with the above for leasehold properties only.
Stamp duty land tax
If you are buying a property you will also need to pay stamp duty land tax. The amount which you need to pay to the government depends on the price of the property. You can calculate the amount you will need to pay by using HMRC’s website https://www.gov.uk/stamp-duty-land-tax or if the property is located in Wales by using the Welsh Revenue Authority’s website https://gov.wales/welsh-revenue-authority.
Other costs to consider
If you have a mortgage on the property or have incurred an estate agent’s fee money we would also typically need to pay the money owed directly to your lender and agent as needed from the sale money we receive for you.
You should also be aware that if you are purchasing a leasehold property then ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Examples of Our Charges
Sale Property
The table below is a typical example of what charges we would make to the client selling a freehold property for £300,000.00:
| SALE | £ | £ VAT |
| Our legal fees of £ | £750.00 | £150.00 |
| Telegraphic Transfer Admin Fee (assuming only one transfer) | £40.00 | £8.00 |
| Office Copy Entries (Each) | £3.00 | N/A |
| AML Search Admin Fee (Per Name/Each) | £12.60 | N/A |
| SUB TOTAL: | £805.60 | £158.00 |
| GRAND TOTAL INCLUDING VAT | £963.60 | |
Purchase Property
Whereas the table below is a typical example of what charges we would make to a client buying a new property for £350,000.00:
| PURCHASE | £ | £ VAT |
| Our legal fees of £ | £950.00 | £190.00 |
| Search fees | £300.00 | £60.00 |
| Telegraphic Transfer Admin Fees | £40.00 | £8.00 |
| AML Search Admin Fee (Per Name/Each) | £12.60 | N/A |
| Stamp Duty Land Tax Admin Fee | £150.00 | £30.00 |
| Land Registry Fee (assuming benefit of LR online discount) | £150.00 | £30.00 |
| Office Copy Entries (Each) | £3.00 | N/A |
| Land Registry Search | £3.00 | N/A |
| Land Charges Search | £2.00 | N/A |
| HMRC Stamp Duty | Please see Stamp Duty Section | N/A |
| SUB TOTAL: | £1,610.60 | £288.00 |
| GRAND TOTAL INCLUDING VAT: | £1,898.60 | |
How long will my house sale / purchase take?
How long it will take from your offer being accepted to completion will depend on a number of factors. The average process takes between 8 and 12 weeks.
It can be quicker or slower, depending on the parties in the ‘chain’. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle and the transaction goes smoothly it could take as little as 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
What legal work will you be doing for me?
The precise stages involved vary according to the circumstances. However typically in a property sale we need to do the following:
- Take your instructions and give you initial advice
- Receive and advise on sale contract documents where applicable
- Carry out searches on the property you are buying where appropriate
- Give you advice on all documents and information received
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Complete the transaction
In a property purchase we need to do the following:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase where applicable and contact lender’s solicitors if needed
- Carry out searches on the property you are buying where appropriate
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor where applicable
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of Stamp Duty/Land Tax
- Deal with application for registration at Land Registry
If we are simply helping you to remortgage your property, then we would generally speaking only need to:
- Take your instructions and give you initial advice
- Carry out searches on the property you are buying where appropriate
- Obtain further planning documentation if required
- Go through the conditions of mortgage offer withy ou.
- Send final documents to you for signature
- Apply for mortgage advance.
- Redeem any previous mortgages
- Deal with application for registration at the Land Registry.
It would not normally be necessary to undertake other work or incur other costs other than those described above. However, we would be very happy to provide you with a more tailored quote for all stages of your particular case once we know about your specific circumstances.
Who will be carrying out the work:
Your conveyancing transaction will be handled by a trusted member of our experienced conveyancing team. We have a number of qualified lawyers in the team as well as experienced paralegals in this area of law. Once your matter is assigned to a case handler, we will introduce you and provide their details.
