How much will it cost?
The costs of our conveyancing services depend on several factors including the area in which the property is located and the sale price. You can get an instant, free, no obligation conveyancing estimate by answering a few questions on our conveyancing quote calculator. Alternatively, an example of our typical fees and disbursements is shown below.
We work on a fixed fee basis for properties up to the value of £999,999.99, this means even those at the higher end of the property market are assured they know what their fees are for their transaction right from the outset.
If the property you are selling is 1 million pounds and/or over, then our legal fees will be 0.15% (plus VAT at the current rate of 20%) of the property transaction value.
For example if you are selling a property for £1,250,000 our legal fees would be £2246.40 (incl of VAT at 20%).
Our fixed fee ranges are:
All costs detailed below include VAT (the current rate is 20%)
Property Sale (£) | Legal Fee (£) | VAT | Total (£) |
0 – 199,999.99 | 950.00 | 190.00 | 1140.00 |
200,000.00 – 399,999.99 | 1050.00 | 210.00 | 1260.00 |
400,000.00 – 599,999.99 | 1095.00 | 219.00 | 1314.00 |
600,000.00 – 799,999.99 | 1195.00 | 239.00 | 1413.00 |
800,000.00 – 999,999.99 | 1300.00 | 260.00 | 1560.00 |
Other costs
The typical costs listed below cover the work involved in a standard property sale. We have illustrated this by detailing below a typical transaction for both a freehold and a leasehold sale. If, during the transaction, there is a new development, we will discuss the change in fees with you and agree a way forward.
An example Freehold Residential Property being sold for £250,000.00
All costs detailed below include VAT (the current rate is 20%)
Item | Amount | VAT | Total |
Legal fees | £1050.00 | £210.00 | £1260.00 |
Anti-money Laundering and ID verification report (Per Person) | £16.92 | £3.38 | £20.30 |
Bank Transfer Admin | £28.50 | £5.70 | £34.20 |
Disbursements (see explanation below) | |||
Land Registry Documents | £6.00 | n/a | £6.00 |
Bank Transfer Fee | £8.50 | £1.70 | £10.20 |
Estimate Total | 1109.92 | £220.78 | £1,330.70 |
An Example of a typical Leasehold Sale for £250,000.00
All costs detailed below include VAT (the current rate is 20%)
Item | Amount | VAT | Total |
Legal fees | £1,050.00 | £210.00 | £1,260.00 |
Anti-money Laundering and ID verification report (Per Person) | £16.92 | £3.38 | £20.30 |
Bank Transfer Admin | £28.50 | £5.70 | £34.20 |
Disbursements (see explanation below) | |||
Land Registry Documents | £6.00 | n/a | £6.00 |
Bank Transfer Fee | £8.50 | £1.70 | £10.20 |
Notice of Transfer and Charge | £300.00 | £60.00 | £360.00 |
(Approx – this may be higher – | |||
see notes below) | |||
Estimate Total | £1,409.92 | £280.78 | £1690.70 |
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as retrieving Land Registry documents. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Below is a list of typical disbursements that have been included in the estimate above, although these may vary depending on the circumstances:
Bank transfer Fee – £10.20 (Incl VAT at 20%)
Additional Leasehold Disbursements
There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate may apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on specific fees upon receipt and review of the lease from the seller’s solicitors. In the example estimate above we have included there being a Notice of Transfer and a Notice of Charge.
Item | Estimate (Incl VAT if it is payable) |
Notice of Transfer fee, this fee if chargeable is set out in the lease. Often the fee is: | £180 |
Notice of Charge fee (if the property is to be mortgaged), this fee is set out in the lease. Often the fee is: | £180 |
Deed of Covenant fee, this fee is provided by the management company for the property and can be difficult to estimate. Often the fee is: | £300 |
Certificate of Compliance fee – to be confirmed upon receipt of the lease, as the range can be | £180 |
* These fees vary from property to property and can on occasions be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.
Exclusions
We do not undertake tax advice.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If crucial documents, we have previously requested from you have not been provided to us
- If there is a registered Help to Buy Equity Loan
- If the property is shared ownership
- If there is more than one mortgage/loan registered against the property
LCF Residential offer great value for money. Click here to Get an Instant Quote or call us today with some simple details about the property, and we’ll give you a competitive price.
We look forward to helping you.