CONVEYANCING

For many people, buying a property is the largest financial commitment they will ever make. It is vital that it is done properly. If it is not the consequences can be expensive.

Sadly, too many firms cut corners on conveyancing work, taking advantage of a perception that it is routine work that can safely be delegated to unqualified staff. It is not.

Whether you are moving home, buying a property for the first time or changing your lender, we provide a first class conveyancing service. All our staff are friendly but professional in their careful attention to detail, which ensures that your transaction is a successful one.

Our fees

Some transactions are inevitably more straightforward than others.  So that our charges fairly reflect the complexity of a matter, we charge according to the time needed to be spent by our professional staff to undertake each matter. 

Our current hourly rates are:

  • £265 + VAT for partners

  • £235 + VAT for senior solicitors

  • £215 + VAT for solicitors

  • £180 + VAT for conveyancing assistants

  • £135 + VAT for trainee solicitors

The majority of our residential conveyancing transactions are undertaken by senior solicitor Joanna Leslie and/or her conveyancing assistant Lisa Jenkins. Joanna has been undertaking residential conveyancing work since 1998 and Lisa since 2006.

Typical fees

We are always happy to provides estimates of our charges for particular transactions, but our typical charges for transactions which do not present unusual difficulties are as follows:

  • Sale of a freehold property - £795 + VAT

  • Sale of a leasehold property - £895 + VAT

  • Purchase of a freehold property - £950 + VAT

  • Purchase of a leasehold property - £1,200 + VAT

  • Purchase of a new build freehold property - £1,200 + VAT

  • Purchase of a new build leasehold property - £1,500 + VAT

  • Remortgage of a freehold property - £500 + VAT

  • Remortgage of a leasehold property - £750 + VAT

Where funds are remitted by telegraphic transfer/CHAPS (which is usually the case on a purchase or remortgage), there is an additional charge of £24 + VAT. 

​​Disbursements

Disbursements are expenses which we have to pay to others to enable your transaction to proceed. The actual disbursements payable will depend upon the property.  Typical disbursements on a purchase or remortgage may include:​

  • Local Authority Search fee  - £60 - £340 + VAT depending upon the local authority involved - those in London tend to be the most expensive

  • Environmental Search fee - £49 + VAT

  • Chancel Check Search fee - £20 + VAT

  • Drainage Search fee - £41.80 + VAT

  • Land Registry Search fee - £3 + VAT

  • Land Charge Search fee - £2 per name + VAT

  • Land Registry fee - £40 - £910 depending upon the purchase price

  • Mining Search - £40.50 + VAT

  • Freeholder's Notice fee - £50 - 550 + VAT, payable when you purchase a leasehold property - those in London tend to be the most exensive

  • Stamp Duty Land Tax - depends on the purchase price of your property and your particular circumstances but HMRC have a useful calculator

On a sale of a property, the only disbursements are usually:

  • Land Registry fee - £6 + VAT

  • Freeholder Agent’s fee – £50 - £400 + VAT, payable only on the sale of a leasehold property

How long will it take?

Typically conveyancing  transactions take 6 to 10  weeks, but it can be more or less.  If you are a first time buyer, purchasing a new build property without a mortgage it could be very swift.  On the other hand, if you are in a lengthy chain, it may take some time before everyone in the chain is ready to proceed.

Much may also depend upon who is acting for the other party.  If they instruct a firm that delegates much of its conveyancing work to junior staff, this may well delay progress.  It will generally be in both parties interests for each side to be represented by traditional firms with strong reputations rather than either party instructing a volume conveyancing practice.​

Stages of the process - purchases and remortgages

The precise stages involved in the purchase or remortgage of a residential property will vary according to the circumstances. However, the following are the typical key stages that are included in our fee estimates above: 

  • Taking your instructions and giving you initial advice

  • Checking finances are in place to fund the purchase and contacting the lender's solicitors if needed

  • Receiving and advising on contract documents (purchases only)

  • Carrying out searches

  • Obtaining further planning documentation if required

  • Making any necessary enquiries of seller's solicitor and drafting the transfer deed (purchases only)

  • Giving you advice on all documents and information received

  • Going through conditions of mortgage offer with you

  • Sending final documents to you for signature

  • Agreeing completion date (date from which you own the property/the remortgage is effective)

  • Exchanging contracts and notifying you that this has happened (purchases only)

  • Arranging for all monies needed to be received from lender and you

  • Completing purchase/remortgage

  • Dealing with payment of Stamp Duty/Land Tax (purchases only)

  • Dealing with application for registration at Land Registry

Stages of the process - sales

Again, the precise stages involved in the sale of a residential property will vary according to the circumstances. However, the following are the typical key stages that are included in our fee estimates above: 

  • Taking your instructions and giving you initial advice

  • Investigating and verifying your title to the property

  • Drafting the sale contract and associated documents

  • Responding to enquiries from the purchaser's solicitors

  • Obtaining a redemption figure from your existing mortgage lender

  • Sending final documents to you for signature

  • Agreeing completion date (date on which you will sell/move out of the property)

  • Exchanging contracts and notifying you that this has happened 

  • Completing sale 

  • Discharging existing mortgage

  • Accounting to you for balance of sale proceeds

       Grays Solicitors LLP

       Duncombe Place
       York

       YO1 7DY

t:     01904 634771

f:     01904 610711