How Much Are Conveyancing Fees?
If you are buying or selling a property, you are going to need to hire a conveyancing solicitor or conveyancer to handle the legal aspect of the whole process. Conveyancers are experts in property transactions, yet you are going to need to pay for their assistance. But how much should you expect to pay?
What factors influence conveyancing fees?
It is important to stress that conveyancing fees differ from transaction to transaction and conveyancing solicitor to conveyancing solicitor. So, what actually influences the fees you will be subject to?
– Whether you are buying or selling a property
– The property’s purchase price
– Where the property is located
– Whether the property is leasehold or freehold
– The number of buyers
– The conveyancing solicitor’s reputation and experience
How much should you expect to pay?
In most cases, conveyancing fees fall between £500 and £1,500. The professional you hire should give you a full and accurate figure upfront. It is a good idea to get a full breakdown of the costs before agreeing to the service. This is because some quotes will cover the legal fees and other fees like land registry and disbursements. You need to know what exactly you are getting for your cash so you can compare quotes on a like for like basis.
According to research, the average conveyancing fees for a property costing £200,000 are £520 in legal fees, and £300 in other fees. For a property amounting to £350,000, the legal cost is £585, while land registry, disbursements and other fees amount to £365. Of course, these figures should only be taken as a guideline.
Hopefully, you now have a better understanding regarding how much conveyancing fees will set you back when buying or selling a home. The best way to ensure you get a good deal on conveyancing fees is to use a comparison website. This is what we offer at Conveyancing Supermarket. Enter your details and compare quotes from all of the best conveyancing solicitors in just 30 seconds.
Analyzing Financial Data by Dave Dugdale licensed under Creative commons 5