Navigating the costs of selling or buying property in the UK

Wilson Browne Solicitors offer invaluable advice for those embarking on property transactions.

Understanding the intricacies of conveyancing fees is vital, whether you’re buying or selling. Their expert team demystifies the process, ensuring clients are well-informed about land registry, stamp duty, and various legal requirements. Emphasizing transparency, they caution against misleading low-cost offers and pledge to provide clear, upfront cost estimates, removing the stress and surprises from property deals.

If you’ve just had an offer accepted on a property or are considering selling your home, it’s time to start thinking about conveyancing fees in the UK.

Involving a conveyancer in your transaction is crucial for ensuring the smooth and correct transfer of legal ownership and to identify relevant legal issues to avoid any nasty surprises later. A conveyancer will review the relevant title deeds, land registry records, and any other legal documents/public records to ensure your sale or purchase proceeds without issue.

The legal fees will also include matters such as dealing with the formal exchange of contracts (which makes the contract legally binding), the payment of stamp duty (where relevant), including the submission of documentation to the Inland Revenue, liaising with all relevant parties, the application to the Land Registry to formally change the ownership of the property. The legal fees will also include obtaining and reviewing the necessary searches, dealing with enquiries, compliance with AML requirements, dealing with any relevant mortgage offer and so on.

There are many factors that can affect conveyancing solicitors costs. Leasehold properties are more complex and often take more time and effort to sell. The need to obtain additional information from landlords and/or management companies can delay matters and increase costs. Freehold transactions, on the other hand, are typically more straightforward and less complex, making conveyancing fees more affordable.

If you do require extra services like dealing with a mortgage lender or navigating a Help to Buy scheme, a gifted deposit etc there may be additional costs. It is always important to budget for unexpected costs, for example a defect in the title may increase both the time and cost of dealing with a transaction, even if it looks to be straight forward at the outset.

When shopping around, it’s important to not to be taken in by any artificially low solicitor conveyancing fees. It’s common for legal firms to advertise their services as cheap and then gradually introduce a long list of add-ons for an extra cost, significantly bumping up your bill.

Here at Wilson Browne Solicitors, we take a more transparent approach. Our friendly and professional team will ensure you’re aware of all the likely costs payable. As long as there are no extenuating circumstances that complicate the transaction, or additional work required, the price we quote, is the price you’ll pay.

If you need advice or assistance with a property or conveyancing transaction, call us on 0800 088 6004.

Alternatively visit www.wilsonbrowne.co.uk or scan the code to use our online quote calculator.