Buying a house is a very exciting time, but there is no denying that it is probably the most expensive thing you will ever do. In addition to the cost of the house, mortgage and moving fees, you will need to use a conveyancer to manage the legal aspect of your purchase.
When a conveyancer operates on a fixed fee basis, you know that the quote you are given is the price you will pay (although there may be exceptions). Other conveyancers operate on an hourly charge basis. Let’s explore the pros and cons of fixed fee conveyancing and give you some helpful advice on choosing the right conveyancing solicitor.
What are conveyancing fees in the UK?
Conveyancing solicitors will oversee the legal side of a house purchase or sale. The fees they charge cover two basic areas: legal, which is the cost of the conveyancing solicitor’s time, and disbursement, which is the cost of third-party services. This includes things such as completing searches on your new property and the fee payable to HM Land Registry for updating the deeds.
How much does conveyancing cost?
In a recent survey completed by Property Solvers, the average conveyancing fees for freehold homes in England and Wales were £1,187.98 for freehold sales and £1,265.65 for freehold purchases in 2024. This can be higher if there are more people in your property chain or if the property is in London.
Is fixed fee conveyancing the right choice for you?
Many conveyancing solicitors now offer a fixed fee service, which has lots of benefits:
– You know exactly how much you have to pay from the start, avoiding hidden costs down the line.
– Some firms work on a no fee, no move basis, which means you won’t have to pay any fees if your property purchase doesn’t go ahead.
Fixed fee conveyancing has lots of advantages, but there are a few things to bear in mind before you go ahead:
– Online conveyancing solicitors can charge less, but the service may not be as good.
– Always shop around for a conveyancing quote and choose a reputable firm, such as https://www.samconveyancing.co.uk/news/conveyancing/fixed-conveyancing-fee-121.
– Don’t trust a very low quote. If it looks too good to be true, it probably is.
– Make sure you get your conveyancing quote in writing. Check it thoroughly to ensure that everything that included.
To sum up, fixed fee conveyancing can be a good way to help you manage your finances when you are buying or selling a house. Make sure you choose a reliable firm with lots of experience to give your property purchase the best chance of running smoothly.