What are the solicitors fees involved when buying a home?

The fees charged by solicitors or conveyancers when buying a property in the UK can vary depending on various factors, including the complexity of the transaction and the firm you choose. However, here are some typical fees you might encounter during the process:

Conveyancing Fees

These are the fees charged by the solicitor or conveyancer for handling the legal aspects of the property purchase. They usually comprise two parts: the legal fee and the disbursements.

a. Legal Fee: The legal fee covers the solicitor's or conveyancer's professional services. It can be either a fixed fee or a percentage of the property's purchase price, typically ranging from around £500 to £1,500 or more.

b. DisbursementsThese are additional costs that the solicitor or conveyancer incurs on your behalf, which are then passed on to you. Disbursements can include expenses such as search fees, Land Registry fees, bank transfer fees, and stamp duty.

Search Fees

Searches are conducted to gather information about the property you are buying. The most common searches are local authority search, environmental search, and drainage search. Each search can cost around £100 to £300, depending on the area.

Land Registry Fees

These fees are paid to the Land Registry to register the property in your name. The fee depends on the purchase price of the property and can range from £20 to several hundred pounds.

Stamp Duty Land Tax (SDLT)

SDLT is a tax levied on properties over a certain value. The amount you'll pay depends on the purchase price of the property and your circumstances. The rates and thresholds may change over time, so it's important to consult the latest guidelines or a tax professional to determine the exact amount. Use our Stamp Duty Calculator to work out how much you will need to pay

Bank Transfer Fees

These fees are charged by banks or solicitors for transferring the purchase funds to the seller's solicitor. They can range from around £20 to £50 per transfer.

It's important to note that these figures are indicative and can vary depending on the specific circumstances of your property purchase and the solicitor or conveyancer you choose. It's always recommended to obtain a detailed quote from a solicitor or conveyancer upfront to understand the full extent of the fees involved.

If you would like a solicitors quote, please contact us for more information. You can also read more about the Conveyancing Process here