When you are in need of a conveyancer you are likely looking to compare the conveyancing fees of different solicitors before making a choice. Conveyancing fees can range significantly between solicitors, and it may not always be immediately clear why there is such a difference in fees.
You can use conveyancing comparison websites to compare conveyancers but do bear in mind that only a small number of conveyancers are actually listed on these. Comparison sites will often have deals with a number of solicitors to list their details in exchange for a form of commission, and not all conveyancing solicitors will use this method to attract clients. Because of that you will always benefit from looking at which solicitors offer conveyancing services local to you and look at their individual websites to find out more about their services and conveyancing fees.
What fees are included?
In general,you will get a ‘all-inclusive’ fee from comparison sites, however not in all cases. You have to look carefully what is, and more importantly what isn’t included in the quoted fees.
When you purchase or sell property, the price of the property will in most cases have an impact on the fee that the conveyancing solicitor charges for their services. The higher the property price, the higher the fee of the solicitor.
In addition to what the solicitor charges, you must also pay other fees which differ per service.
If you are buying property, you will likely have to pay for local searches to be completed. These can vary per area, and your conveyancing solicitor can advise you which searches should be carried out.
You will also have to pay for land registry registration. These also depend on the value of the property, as well as the method of registration. Online registration will save you money, but in some cases, you may need to register per post.
Other fees you may need pay include for depend on your circumstances and the service that you require, and could include: electronic money transfer fees, HMLR search fees, landlord’s fees, local search insurance, managing agent’s fees, landlord’s fees for notice of change and fees for outstanding mortgages and secured loans.
Depending on the value of the property you may also need to pay Stamp Duty and Land Tax. This fee is also dependent on the value of the property and will increase as the value increases.
Additional fees depending on your circumstances
If you buy your property through a government scheme such as Help to Buy or Right to Buy extra fees will be charged. And if you purchase property on Islamic finance, there will also be additional fees.
If you buy a new build the conveyancing process is more complex, and your solicitor is therefore likely to charge you more for this too.
In some cases, there are problems with the property. For example, the property is unregistered, or there have been extensions build or other changes made to the property without the necessary building permissions. This information will likely come to light during the conveyancing process, instead of beforehand. If this happens your solicitor will likely charge you more, as more work on your purchase is required.