Conveyancing Fees Purchase

Conveyancing Fees for a purchase are the fees and charges payable when buying a property or land. Conveyancing is a legal term used to note official dealings with property. Conveyancing Fees are the costs associated with the conveyancing process for a property purchase. Conveyancing fees will always be attracted during the course of the purchase conveyancing process, whether you instruct a conveyancing solicitors firm or conveyancer to act on your behalf or whether you decide to do it yourself.

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What are Conveyancing Fees for buying a Property?

Conveyancing Fees for the purchase of a property are made up of two kinds of costs:

  • Legal Fees are payable to your Conveyancing Solicitors or Licensed Conveyancers firm for acting on your behalf in your purchase.  Legal Fees will also be payable for acting on a mortgage lenders behalf a mortgage is being obtained.  Legal Fees usually attract vat.
  • Disbursements are costs paid to third parties throughout the course of buying a property and form the largest part of the conveyancing fees.

Legal Fees and Disbursements form the total of the conveyancing fees paid during the course of a purchase conveyancing transaction.

Conveyancing Fees - Purchase Disbursements Explained

The Disbursements paid during the conveyancing process when buying a property vary in the following ways:

  • Whether the property you are buying has a Home Information Pack (HIPs) containing acceptable search results. 
  • Whether a mortgage lender is involved who requires additional searches or services.
  • The price you are paying for your property.  Most of the conveyancing fees for a purchase consist of disbursements payable to one government department or another.  These tend to be calculated on a fee scale depending on the purchase price of the property.   This is the case for the Land Registry Fee charged by the Land Registry to register the property in the buyers name or of course, Stamp Duty Land Tax which applies to properties costing over a certain level on a percentage basis depending upon the price.
  • Leasehold purchases often incur additional disbursements payable to the landlord or management agents.  Additional legal fees will also usually be incurred when buying a leasehold property.

Conveyancing Fees for Buying a Property - How much am I likely to pay?

The amount you are likely to pay for conveyancing fees during the course of the purchase of a property varies on the type of conveyancing solicitors or conveyancers you choose for the most part.  Disbursements will normally be very similar no matter who you choose to carry out your conveyancing.  You should also note the BBC website states the average cost of conveyancing legal fees (not including disbursements) is around £550 for conveyancing fees in the UK.

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