Conveyancing fees

We provide a high quality, tailored residential conveyancing service for our clients. 

This document sets out our typical charges for the purchase, sale and re-mortgage of residential property in the UK, some information on what other costs you might expect to incur in such transactions and a summary of the process involved.

Our charges

We set out below our typical charges for the purchase, sale or re-mortgage of residential property in the UK, including dealing with registration at the Land Registry, the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

The charges described are based on the following assumptions.  

• The transaction is standard and no unforeseen matters shall arise, including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
• The transaction is concluded in a timely manner and no unforeseen complications arise.
• All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
• No indemnity policies are required.  Additional disbursements may apply if indemnity policies are required.
• The transaction does not relate to a new-build property.

If a transaction is not in line with the assumptions set out above, we will advise our clients of any additional charges.

For a more detailed, tailored quotation, please speak to your Simkins contact. 

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Conveyancing fee

Our fees are based on a percentage of the price of the relevant residential property subject to a minimum fee as follows:

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For purchases, this includes our fee for acting on behalf of any mortgage lender.

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Disbursements

Disbursements are costs that are payable to third parties, such as Land Registry fees.  We handle the payment of the disbursements on our clients’ behalf.  Disbursements are charged in addition to our conveyancing fee.

The normal disbursements for conveyancing are as follows:

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Notes

^{1. You should also be aware that ground rent and service charge are likely to apply throughout your ownership of a leasehold property.  We will confirm the ground rent and the anticipated service charge as soon as we receive this information.}

^{2. We do not normally incur any disbursements in connection with the sale of a freehold residential property other than some minor Land Registry search fees – if we are required to incur any other disbursements on your behalf, we will inform you promptly.  However, please note that we normally pay any estate agent fees you have incurred directly out of the proceeds of sale on your behalf.}

^{3. Search fees vary depending on the local authority where the property is situated.} 

^{4. The figures shown are for the Land Registry fee for electronic filing which is the method we normally use.  Higher charges apply for postal registrations.  The fees are calculated by a sliding scale according to value (for more detail see https://www.gov.uk/government/collections/fees-hm-land-registry-guides).}

^{5. A notice of transfer fee will apply if so provided in the lease.}

^{6. A notice of charge fee will apply if so provided in the lease and the property is to be mortgaged.} 

^{7. A deed of covenant fee will apply if charged by the management company for a property.  The level of this fee can be difficult to estimate.}

^{8. A certificate of compliance fee will apply if so provided in the lease.}   

^{9. A lease will normally provide that the landlord is entitled to make a charge for providing information on the lease.  The level of fee is determined by the lease.}  

These disbursements vary from property to property and can on occasion be significantly more than the ranges given above.  We can give a more accurate figure once we have sight of the specific documents.

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Other charges

In addition to our conveyancing fees and disbursements, we make charges for anti-money laundering checks, electronic bank transfers, photocopying, printing, scanning and document production.  

Money transfers on completion of a purchase will be effected by way of priority payment and we impose a minimum charge for each residential conveyancing transaction of £40 for photocopying, printing and scanning.

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VAT

VAT is charged at 20% on our conveyancing fee, all disbursements (except Land Registry fees) and our other charges.

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Time for payment

Our fees are payable upon completion.  If a transaction does not complete, we shall charge our reasonable time costs up to and including the date upon which the transaction aborts, subject to a cap of the conveyancing fee otherwise payable upon completion.  We will also charge any and all other disbursements and other charges incurred up to the date upon which the transaction aborts.

We reserve the right to ask for money on account of our fees before starting work.

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Examples of typical costs for conveyancing transactions

We set out below some examples of costs you might incur if you instruct us in a conveyancing transaction.  The examples are based on the purchase or sale of a residential property in the UK at a price of £1m.

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Stamp Duty or Land Tax 

Purchases of land in England and Wales are subject to Stamp Duty or Land Tax.  The tax payable depends on the purchase price of the property.

Clients can calculate the amount they will need to pay by using HMRC's website or, if the property is located in Wales, by using the Welsh Government’s website.  Links to those websites are given here:

Stamp duty: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

Land tax:  https://beta.gov.wales/land-transaction-tax-calculator

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How long will a transaction take?

How long it will take from an offer being accepted until the purchase or sale completes will depend on a number of factors. The average process takes between four to eight weeks. 

It can be quicker or slower, depending on the parties in the chain.  For example, a purchase for first time buyers purchasing a new-build property with a mortgage agreed in principle could take only four weeks. 

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Stages of the process

The precise stages involved in the conveyancing of a residential property vary according to the circumstances. However, the basic steps are set out below: 

We will keep our clients updated as to progress on a regular basis.