There is no denying that there are a lot of costs to consider when buying or selling a property. One thing you may be wondering about is the average solicitors conveyancing fee. Below, we will reveal how most solicitors charge for this service.
There are three different ways that conveyancing solicitors charge for their service. The first is on a fixed-fee basis, which is very rare. The second is on a per-hour basis. This is reasonably common however, should be avoided at all costs. You could end up with a massive bill on your hands if you go down this route. The third and most common, is charging based on the value of the property you are buying. This can be somewhat frustrating for those buying an expensive home, as there will not necessarily be more legal work entailed for buying a mansion worth £2 million than there will be for a flat worth £100,000. Nevertheless, you will still be better off going down this route than the per-hour basis. You can expect to pay around £850 for conveyancing fees, which will include registration with the Land Registry, council searches, as well as the solicitor’s letters, calls, and time.
One way to save money is by opting for online conveyancing. You could save as much as £350 by going down this route. A no-completion, no-fee service is something to consider if you are selling a house and you are worried the buyer may pull out. You will pay more for this type of service, but, if the deal collapses, you will owe nothing.
Hopefully, you now have a better understanding regarding the average solicitors conveyancing fee and the different options you have available to you. The best thing to do is compare numerous solicitors, and make sure you are fully aware of what is included in the fee so that you don’t get stung with hidden charges.