How much should conveyancing fees cost in 2024?
Market research carried out in November, 2024, shows the true cost of conveyancing varies considerably between solicitors.
To properly compare conveyancing quotes, you must be aware of potential additional charges and hidden fees that could significantly increase the cost of your home move.
How to (properly) compare conveyancing quotes
If you're buying, selling, remortgaging or transferring equity in a property, you will need a conveyancing solicitor or licensed conveyancer to complete the legal work.
To accurately compare conveyancing quotes, you will need to consider:
- what's included in each quote
- if the quote is fixed fee
- if there are any additional fees in the 'small print'
- what you will be charged if your transaction falls through
You will also need to consider what level of service you are likely to receive from each solicitor.
4.8 out of 5
When we factored in eveything that was included - this was the best quote we could find
What's the difference between fees and disbursements?
Conveyancing quotes must show a clear breakdown of the legal fees and disbursements.
Legal fees are paid to your solicitor or licensed conveyancer for completing the legal work.
Disbursements are third-party costs, such as Stamp Duty Land Tax (SDLT) and property searches.
Solicitors and licensed conveyancers are not allowed to 'mark up' (profit from) disbursements. This means that solicitors cannot add anything to the cost of a disbursement.
When is a quote not a quote?
...When it's an estimate.
A 'quote' is an offer to provide a service for a given price. For a quoted scope of works, the price cannot vary.
An 'estimate' is an approximate evaluation of what a service is likely to cost. You could, therefore, end up paying more than the original estimate.
You should choose a solicitor that offers a fixed fee conveyancing service. Going with an hourly fee estimate is risky as solicitors fees can range from £150 to £350 per hour.
Hidden fees
To get your business, some solicitors quote a low headline price and list additional fees in the terms and conditions that accompany the quote.
If these additional fees are for work that should be part of a standard conveyancing transaction, they are, in effect, 'hidden fees'.
Law Society guidance to solicitors states that:
“Potentially misleading cost information may also arise where additional charges are later 'bolted on', or where items are referred to as 'disbursements' when they are not.”
No two conveyancing transactions are the same.
Additional work beyond the scope of a standard transaction may sometimes be required. Your solicitor may, for example, need to arrange an indemnity policy if there is a defect in the title, or set up a declaration of trust with a joint-owner.
If you have received a quote, your solicitor should not charge additional fees for work that falls within the agreed scope of a standard conveyancing transaction.
Typical fees hidden in some solicitor's terms and conditions.
Potential hidden fees | Typical fee (Ex. VAT) |
|---|---|
| Additional enquiries fee | £50 - £150 |
| Adverse Possession Fee | £50 - £150 |
| Alteration of Official Copies Fee | £50 - £150 |
| Appointing an Additional Trustee Fee | £50 - £150 |
| Auction sale/purchase supplements | £50 - £100 |
| Bank transfer (TT Fee) - 1st TT fee included in our fee | £25 - £45 (per transfer) |
| Cheques Returned or Stopped Fee | £25 - £50 |
| Cheques to a Third Party Fee | £25 - £50 |
| Companies House Search Fee | £25 - £50 |
| Copy documents from third parties | £25 - £50 (per copy) |
| Dealing with Apportionments on Leasehold transactions | £50 - £100 |
| Dealing with Freeholder of a Property with Leasehold Title | £100 - £150 |
| Declaration of Solvency Fee | £50 - £150 |
| Freehold Property with a Management Company (dealing with) Fee | £50 - £150 |
| Freehold Property with Leasehold Title Fee | £50 to £150 |
| Freehold Reversion Fee | £50 to £150 |
| Help to Buy Equity Loan Fee | £50 to £150 |
| Help to Buy Forces Loan Fee | £50 - £150 |
| Help to Buy Redemption Fee | £50 - £150 |
| Houses in Multiple Occupation Fee | £50 - £150 |
| Indemnity Insurance Arrangement Fee | £50 - £100 |
| Inward payment processing fee | £25 - £45 |
| Key Undertaking Fee | £50 - £100 |
| Lease Extension Approval Fee | £50 - £150 |
| Lease Extension Preparation Fee | £50 - £150 |
| Legal Aid Charge Transfer Fee | £50 - £150 |
| Lender Panel Management Fee | £50 - £150 |
| Licence to Assign Fee | £50 - £150 |
| Lifetime Mortgage/Equity Release (dealing with) Fee | £50 - £150 |
| Merger of Titles Fee | £50 - £150 |
| Multiple Titles Fee | £50 - £150 |
| Name Declaration Fee | £50 - £150 |
| New Build Fee | £50 - £250 |
| Obtaining leasehold management information on leasehold sale | £50 - £100 |
| Occupier Waiver Fee | £50 - £150 |
| Power of Attorney or Court Order Fee | £50 - £150 |
| Private Mortgage Fee | £50 - £150 |
| Professional Indemnity Contribution Fee | £25 - £50 |
| Providing copies of property searches | £15 - £30 (per copy) |
| Reconstitution of Legal Title Fee | £50 - £150 |
| Retention Fee | £50 - £150 |
| Second or Subsequent Mortgage Fee | £50 - £150 |
| Second or Subsequent Mortgage Transfer Fee | £50 - £150 |
| Service charge arrears calculation fee | £25 - £50 |
| Share Certificate Fee | £50 - £150 |
| Share of Freehold Fee | £50 - £150 |
| Shared Ownership/Equity Fee | £50 - £150 |
| Simultaneous exchange and completion | £50 - £100 |
| Software Fee | £25 - £50 |
| Solar Panels Fee | £50 - £150 |
| Staircasing Fee | £50 - £150 |
| Stamp Duty Land Tax (SDLT) Form Fee | £50 - £100 |
| Stamp Duty Land Tax (SDLT) Staircasing Fee | £50 - £150 |
| Statutory Declaration Fee | £50 - £150 |
| Subject Access Request Fee | £25 - £50 |
| Surplus Funds Payments to a Third Party Fee | £50 - £150 |
| Third party ID checks | £50 - £100 |
| Third Party Lenders Lawyer Fee | £50 - £150 |
| Third Party Matrimonial Lawyer Fee | £50 - £150 |
| Third Party Other Lawyer Fee | £50 - £150 |
| Unregistered Title Fee | £50 - £150 |
| Unrepresented Party Fee | £50 - £150 |
| Upgrading Title to Absolute Fee | £50 - £150 |
| Voluntary First Registration Fee | £50 - £150 |
Comparing apples with apples
Service levels vary considerably between solicitors. Some solicitors offer a proactive, high-tech service. Others offer a more traditional, paper-based service.
There is a correlation between slow conveyancing and an increased chance that a sale or purchase will fall through. Choose an unresponsive solicitor and any saving you make on the conveyancing fees will be small change, compared to the cost of losing your new home or buyer.
When comparing conveyancing quotes, make sure you consider service levels as well as fees.
How can I predict a solicitor's service level?
How quickly did the prospective conveyancer respond to your quote request? How keen were they to secure your business? If the solicitor takes a long time to get back to you, or you had to chase them, this is a red flag.
Before you instruct a solicitor, ask them:
- How regularly can I expect updates?
- Will I be given my solicitor's direct line?
- Will the solicitor use email (rather than post)?
Does the quote include 'no sale, no fee'?
Many solicitors now work on a no sale, no fee basis. If your purchase or sale falls through, no sale, no fee means that you won't have to pay any legal fees.
Don't assume that your quote is no sale, no fee - make sure the quote states explicitly that it is.
Market Research: Average conveyancing fees November, 2024
In November, 2024, we carried out market research into the conveyancing fees charged by solicitors and licensed conveyancers in England and Wales.
In the tables below, we look at how quoted fees are described, we explain what each fee is for, and we show the range of fees you could end up paying.
How to compare conveyancing fees when buying a property
Purchase Fees | Fee Range |
|---|---|
Purchase legal fee Fee paid to the solicitor for the conveyancing legal work for the purchase of the property. | £400 - £1,500 |
Acting for mortgage lender fee If you are buying with a mortgage, your solicitor will act for your lender to ensure that the lending criteria are met and that the lender's interests are protected. NB. If your solicitor is not an approved member of your lender's panel, it could slow the process down and cost you £100's more in fees. (Read more) | £50 - £150 |
SDLT/LTT return form Fee for completing and filing the Stamp Duty Land Tax return with HMRC or the Land Transaction Tax return with the WRA. | £20 - £50 |
Leasehold fee Fee for the additional legal work involved in reviewing the lease and additional documents, liaising with the managing agent etc. | £100 - £250 |
New build fee Fee charged for the additional legal complexities involved in new build transactions. | £75 - £150 |
Shared ownership fee Fee for additional legal work needed for shared ownership purchases from housing associations. | £150 - £199 |
Help to Buy (ISA) fee Fee for the legal work for administering the Help to Buy scheme, government bonus etc. | £25 - £75 |
Help to Buy equity loan Fee for the legal work and additional forms completed when buying with the assistance of a Help to Buy equity loan. | £100 - £150 |
Right to Buy fee Fee for additional legal work, including liaising with local authorities and housing associations. | £100 - £200 |
Buy to let fee Fee for additional legal complexity in buying an investment property | £100 - £200 |
Purchase Disbursements | Fee Range (Ex. VAT) |
|---|---|
Electronic ID verification To comply with money laundering regulations and lender requirements, conveyancers must confirm the identity of their clients. | £0 - £25 (per person) |
Bank account verification Anti-fraud checks such as 'Lawyer Checker' confirm the identity and bank account details of the seller's solicitor before purchaser funds are transferred. | £7.50 - £12 |
HMLR office copies Official documents that confirm whether the seller is the legal owner of the property, and if there are any third-party charges over the property. | £3 - £8 |
HMLR registration HM Land Registry (HMLR) is the official register of property and land ownership in England and Wales. When a property changes hands, a fee is charged by HMLR to update the register. (see full fee table) | £20 - £910 |
Property searches Usually sold as a pack that includes local authority, drainage and water, environmental and chancel searches. NB. Some solicitors offer a free replacement set of searches if a purchase falls through. | £275 - £450 |
Bankruptcy search A pre-completion search required by the lender that checks whether borrowers (mortgagors) are declared bankrupt. | £2 - £15 (per mortgagor) |
Telegraphic transfer (TT) fee Fee charged for sending the purchase funds electronically to the seller's conveyancing solicitor. | £15 - £45 |
Stamp Duty Land Tax (SDLT) Most conveyancing quotes will show the amount of SDLT payable to HMRC. With some exemptions, SDLT is payable on the value of the property. | (See: SDLT Calculator) |
HM Land Registry (HMLR) registration fee table
HM Land Registry (HMLR) is the official government body that registers ownership of property and land in England and Wales. When a property changes hands, HMLR charge a fee to update the register.
The fee depends on the purchase price of the property, as follows:
Purchase Price | Registered by post | Registered online |
|---|---|---|
£0 - £80,000 | £40 | £20 |
£80,001 - £100,000 | £80 | £40 |
£100,001 - £200,000 | £190 | £95 |
£200,001 - £500,000 | £270 | £135 |
£500,001 - £1m | £540 | £270 |
£1m plus | £910 | £455 |
If the property is a new build there is an added fee of £15 pounds.
How to compare conveyancing fees when selling a property
Sale Fees | Fee Range (Ex. VAT) |
|---|---|
Sale legal fee Fee paid to the solicitor for the conveyancing legal work for the sale of the property. | £350 - £1250 |
Mortgage fee If you have a mortgage, your solicitor will complete the legal work to redeem the mortgage and release the lender's charge over the property. | £50 - £150 |
Leasehold fee Fee for the additional legal work involved in selling a leasehold property, including obtaining leasehold information and handling leasehold enquiries etc. | £100 - £250 |
Sale Disbursements | Fee Range (Ex. VAT) |
|---|---|
Telegraphic transfer (TT) fee Fee charged for electronically transferring funds to the lender when redeeming the mortgage. | £15 - £45 |
HMLR office copies Official documents that confirm whether the seller is the legal owner of the property, and if there are any third-party charges over the property. | £3 - £8 |
How to get the best value conveyancing
The difference in conveyancing fees (excluding disbursements) paid by a property buyer or seller can run to £1,000's. With the ever-increasing cost of moving home, it is certainly worth comparing conveyancing quotes to find the best deal.
Care needs to be taken when comparing conveyancing quotes to identify any potential additional costs and fees that are not included in the headline figure.
When comparing conveyancing quotes, however, there is more to consider than simply finding the lowest fees.
Checklist
The following checklist can help you find a conveyancing solicitor who will complete your transaction quickly, cost-effectively and with minimal stress:
- What is included in the quote?
- Is the quote fixed fee?
- Are there any additional fees in the terms and conditions?
- If the quote is an estimate, what will you end up paying?
- Is the solicitor on your mortgage lender's approved panel?
- Is the quote no win, no fee?
- Will you be charged for replacement searches if your purchase falls through?
- What are the solicitor's opening hours?
- Can you access your file online?
- Based on your initial experience, has it been easy to communicate with the solicitor?
