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Conveyancing Costs

This is a very rough guide to the various costs and disbursements involved in buying and selling residential property.

Selling

The costs involved in selling a property are very straightforward as follows:

  • Our Legal Fees - 550.00 - 1500.00 plus VAT.

  • Land Registry Document Fees - 6.00 upwards.

  • Bank Transfer Fee - 25.00 plus VAT

The amount of our legal fees is dependent on a number of factors, including the sale price of the property.

The Land Registry Document Fees are dependent on how many documents are held by the Registry relating to your property and also on the nature of those documents. For instance, there is a higher fee charged for a lease than for a transfer deed.

The bank transfer fee is payable if there is a mortgage to redeem or if any net sale proceeds are going to be transferred direct to your bank account.

Purchasing

There are more costs involved in the purchase of a property but the basic items are as follows:

  • Our Legal Fees 550.00 - 1500.00 plus VAT

  • Mortgage Administration Fee - 160.00 plus VAT

  • Land Registration Fee 20.00 - 910.00

  • Stamp Duty Land Tax variable under the new scheme.

  • Local Authority Search 115.00

  • Drainage & Water Search 54.00

  • Mining Search (if appropriate) 53.00

  • Environmental Search 46.00

  • Planning Search 33.00

  • Flood Search - 24.00

  • Commons Registration Search 6.00

  • Land Registry Priority Search 3.00

  • Land Charges Bankruptcy Searches - 2.00 per person

Again our legal fees are dependent on a number of factors, including the purchase price and the mortgage administration fee is only payable if you are actually obtaining a mortgage.

The Land Registration Fee is charged by the Land Registry and varies depending on the purchase price. For a breakdown of the Land Registry Fees please click here.

Stamp Duty Land Tax is payable on properties over 125,000.00. For more information on the price brackets please click here.

The search fees are all approximate. If you are obtaining a mortgage then it is likely that all the searches will be needed. If you are not obtaining a mortgage then whilst we would recommend that you have the searches, you can opt not to. In some cases the mining and flood searches may not be applicable.

The chancel indemnity policy is taken out on all purchase properties, as it is considerably less expensive than actually obtaining a chancel search.

Land Charges Bankruptcy Searches are only applicable if you are purchasing with the aid of mortgage finance.

General Comments on Fees

The fees listed above are a rough guide only to the likely costs involved in conveyancing and are based on standard freehold properties.

They are not to be taken in any way, shape or form as a quote for conveyancing work.

If the property you are selling or purchasing is leasehold then there will be further costs involved in dealing with the leasehold aspect of the property and you should speak to the executive handling your matter regarding those extra costs.

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Thurstan Hoskin Solicitors, Chynoweth, Chapel Street, Redruth, Cornwall, TR15 2BY
Tel: 01209 213646 - Fax: 01209 210069 - info@thurstanhoskin.co.uk


Principal: Thurstan Hoskin BA
SRA Number:
558629; VAT No 913479414
This firm is regulated by the Solicitors Regulation Authority
Member of Lawyers for Your Business, The Society of Trust & Estate Practitioners