Let's Talk Solicitor Fees When Purchasing Property

Solicitor costs are one of the essential considerations when purchasing a new property. There are a number of factors which will determine your overall bill, with property tenure and purchase price being two major components. Firm location and reputation will also play a role and, with firms happy to undertake work remotely, comparing cost has never been easier.

Below is an explanation of the most common fees and disbursements, along with approximate costings.

Conveyancing/solicitor fee- Paid directly to your chosen conveyancer for their services and expertise. This is usually paid at the exchange and completion stage of the buying process.

Stamp duty- If applicable, this will also be paid around exchange and often makes up the highest proportion of your total bill. Your solicitor will collect SDLT funds from you and pay these on your behalf. If you are a first time buyer purchasing for less than £500,000, you can benefit from a significant stamp duty relief on the first £300,000.

Search Pack- These include local authority, water and environmental searches, among others. All serve to ensure the property is safe to purchase and there are no onerous restrictions which could impact either safety or saleability in future. Search packs usually cost £250-£450, depending on your local authority and number of searches required.

Land Registry Fee- This confirms your new ownership of the property on the government database and will vary depending on the property purchase price. The fee for electronic registration can be as high as £655, but is most commonly either £150 or £330.

Leasehold Fee- If the property you are purchasing is leasehold/share of freehold, there are additional checks required to ensure the lease is adequate and doesn't impose undue restrictions on you as the buyer. This can be time consuming and your solicitor will usually charge extra as a result. Leasehold fees are at the discretion of your chosen solicitor, however you can expect to pay similar to what a search pack would cost.

Other- Finally, there are various smaller fees such as bankruptcy searches and ID checks which are the matter of a few pounds per person. If you are utilising gift from family or a Lifetime ISA to fund your deposit, there will also be a charge to validate and request these funds for completion.

Overall cost- A good gauge when accounting for all the variables above is £1,250-£2,500 plus VAT. This will depend significantly on whether or not the property is leasehold, with freehold purchases sitting at the cheaper end of the estimate. Firms will usually be happy to provide transparent quotes pre-instruction, to allow for comparing options, and our advisors are also on hand to provide a quote using our conveyancing tool with over two dozen firms from around England and Wales.