Hidden Conveyancing Fees - a plain and simple guide

Like most people you have probably shopped around for the lowest Conveyancing Fees before choosing a Conveyancing Solicitor.  

However, comparing Conveyancing Quotes can be difficult as the apparently 'bargain fees' can end up being a world away from what you actually end up paying once you tot up all the additional fees often tucked away in the terms and conditions. Do you have questions about the conveyancing process? Get in touch with Fridaysmove on 0800 038 6446 and we would be happy to help.

Additional Fees in the Small Print

This simple guide helps you understand those hidden charges so you can easily compare Conveyancing Quotes and choose the best deal.  

(Please note that we are not necessarily suggesting that the lowest Conveyancing Fees means the best deal - we would urge you to consider the service more broadly as a poor service can end up costing you a lot more than you might save on Conveyancing Fees)

Admin Fee

A very common fee, this is typically justified as a flat fee to cover postage, photocopying, phone calls etc.

Fridaysmove include all of these administrative costs within in our legal fees

Attending offices without a pre-arranged appointment

Law firms will sometime levy an additional charge for attending their offices without a pre-arranged appointment.

Fridaysmove do not expect clients to pay fees to come and see us.

Bankruptcy Search Fee

If you are taking out a mortgage the lender will require the lawyer to conduct a bankruptcy search against each purchaser.

We do not charge extra for the bankruptcy search.

Certified Lease Copy or other Documents from HM Land Registry

If a lease has not been provided, perhaps as part of the HIP, a certified copy will need to be acquired from the Land Rgeistry.

Fridaysmove do not charge a Conveyancing Fee for this and will merely pass on any disbursement costs incurred on you behalf.

Completing Deed of Covenant Fee

This is a document which is prepared by the solicitor and signed by the purchaser by way of confirmation that they will adhere to the terms of the lease.

Fridaysmove include this in the standard fee and will pass on any disbursement costs incurred on you behalf.

Contribution to Professional Indemnity Fee

Fridaysmove only use Solicitors with a high level of professional Indemnity for your protection.   Some firms attempt to apportion the premium cost as an additional fee.

Professional Indemnity is included as part of the standard legal fee.

Corresponding with managing agent fee  

In the case of leasehold transactions there will probably be additional correspondence with landlords or managing agents required.

Corresponding with all third parties is part of the standard conveyancing service and included in the Fridaysmove fees and will pass on any disbursement costs incurred on you behalf.

Notice/Deed of Assignment

Leases usually include a covenant by the purchaser to serve a notice on the freeholder of the change of ownership.   This is known as a Notice of Assignment and often attracts an additional Conveyancing Fee.  The solicitor must ensure that a notice of assignment is served on the landlord or the seller will continue to be invoiced for rent and service charge.

Fridaysmove do not add a charge for this work - we will pass on any disbursement costs.

Deed of Cross Covenant for Flying Freehold

A Flying Freehold situation can be complicated and we would urge you to contact us for further information before instructing a conveyancer who is likely to charge conveyancing fees at a more bespoke level for this type of work.

You may be interested our article of how a cross covenant was used in practice.

Deed of Postponement/Grant/Variation

This is where the Solicitor has had to amend the lease due to the it being defective.

Fridaysmove see this as par for the course with leasehold matters and make no additional charge, all we pass on are any costs incurred on your behalf.

Home Information Pack Print Fee

Self explanatory - not so many of these around nowadays but it can still linger in the terms of engagement.

Fridaysmove do not add an additional charge for this service.

Issuing second contract to another buyer (Contract Race)

This is when the vendor agrees to exchange contracts with whichever of two or more prospective buyers is in a position proceed with the purchase first.   This means additional work for the conveyancer in preparing multiple draft contracts and liaising with multiple solicitors.

We do not charge a Conveyancing Fee for contract races.

Land Registry Pre Completion Searches

Pre-completion searches are conducted to prevent entries being registered against the property (or purchaser) between exchange of contracts and the finalising of the registration process.

Fridaysmove do not charge for this process and would simply pass on any disbursements without them being marked up.

Leasehold Supplement Conveyancing Fee

Leasehold sales require the review of additional documentation including the lease, the management pack, freehold title as well as dealing with managing agent and freeholder.

At Fridaysmove the 'Leasehold Supplement' is included as in our standard Conveyancing Fee and will merely pass on any disbursement costs (always without mark up) incurred on you behalf.

Less than 1 working week between exchange and completion Fee

Where completion occurs within 5 working days of exchange, a significant amount of extra work is required by way of additional telephone calls and general chasing as the critical phase of the transaction is compressed into a shorter period of time.

Fridaysmove Conveyancing Costs do not vary no matter how short the period between exchange and completion.

Lockout or Exclusivity Agreements (or non-refundable deposits)

Fee for drafting/reviewing the agreement for a non refundable deposit which was placed on the property to secure exclusivity on the property,

Part of the service at Fridaysmove - no additional Conveyancing Fee.

Mortgage offer review fee and deal with registration of charge. (each mortgage)

 Reviewing the mortgage offer is a standard part of the process (assuming there is a mortgage) and the subsequent registration of charge being a necessary formality also conducted by the solicitor.

Solicitors instructed by Fridaysmove do not charge anything additional for this.

Simultaneous exchange and completion fee

Where exchange and completion happens simultaneously an extra Conveyancing Fee is sometimes charged. On the day of the simultaneous exchange and completion the highest priority must be given to exchanging on this matter (before all others) to guarantee ensure the matter is also completed within the same day.

Proper planning should minimise occurrences of this occurring but if it does Fridays do not add a fee for this.

Obtaining additional documents referred to in the Land Registry Official Copies.

Sometimes additional documents need to be sourced when they are mentioned in the title documents.

Fridaysmove make do not charge a Conveyancing Fee for this service and simply pass on any disbursement costs.

Obtaining landlord's consent to assignment of lease fee

When the solicitor is required to obtain consent to transfer the property from the freehold as set out in your lease.

Fridaysmove do not charge for this service.

Online ID Fee

We are required to obtain evidence of identity through a third party in compliance with money laundering regulations.   This can be done online and in fact makes a Solicitor's life much easier.

We therefore do not charge for verifying your identity.

Sale/Purchase of the freehold reversion for a leasehold property to include preparing Inland Revenue form

This would certainly constitute additional work for a conveyancer working on a leasehold matter.

Included in the standard Fridaysmove quote, you would only pay disbursement costs incurred on your behalf.

Obtaining copies of planning permission or building regulation approval (per item) fee

Obtaining these documents can be a painful process for your conveyancer. It often involves sitting on hold and chasing the local authorities to obtain planning documentation relating to the property.

Fridaysmove do not charge a fee for obtaining these documents and any disbursement charged by the local authority is passed straight on to the client without being marked up.

The way we work

At Fridaysmove, we work with solicitors and conveyancers who are up front about their fixed fees for the legal work on sales, purchases, remortgages and transfers of equity. Why not get an instant fixed fee quote online so you know what to expect?

Get a free conveyancing quote:

Obtaining duplicate share certificate in Freehold or Management Company (or indemnity form)

If you have a share in the freehold company it is a good idea to try and find the original share certificate.   Obtaining duplicate share certificates can be a protracted endeavour and slow things down.   If you cannot locate it is a good idea to apply for a duplicate certificate as early as possible.

If Fridaysmove are required to apply for the duplicate Certificate, nothing extra is charged and we would pass on the disbursement (if any) charged by the freeholder.

Obtaining Landlord's (including retrospective) consent to alterations to property

Where changes have been/will be made to the property, your solicitor/will be required to obtain consent from the freeholder.

Fridaysmove will not make any additional charge for obtaining consent.   The freeholder may charge a disbursement which would be passed on to you.

Obtaining landlord's consent to assignment of lease fee

Where you solicitor liaises with your freeholder if your lease requires consent to transfer the property.

Part of the service with Fridays - no additional cost.   Your freeholder may raise a charge that would be passed on as a disbursement.

Occupier required to sign supplemental contract (as occupier over 18)

Any adult (over 18) occupiers (including any children of the registered proprietors) are deemed in law to have a right of occupation.   Your buyer will require a guarantee that all adults will be moving out of the property at the point of completion.

There is no further Conveyancing Fee charged by Fridays for this service.

Payment of Service Charge Arrears

When selling a leasehold property you will be required to settle any service charge and/or ground rent arrears before completing your sale. Your lawyer  will be asked to give an Undertaking (a legally binding promise) to pay the outstanding amount at the point of completion. If the an apportionment of ground rent or service charge is to be shared between buyer and seller, this will be calculated and agreed between the two solicitors.

Fridaysmove include this as part of a standard leasehold service so no extra charge. If your freeholder raises a charge this would be passed on as a disbursement.

Property subject to tenancy - vetting Tenancy Agreement fee

A seller is required to disclose any tenancies or licences affecting the property.   It is the buyer’s responsibility to check the terms of any such tenancy or licence.   A copy of the tenancy agreement should therefore be requested early on in the process (so the buyer is fully aware of the position) and the lawyers should be prepared to review the agreement and advise accordingly.

Fridaysmove do not charge for this service, if it is required.

Preparing statutory declarations fee

Sometimes the deeds do not contain a right of way over any road or point of access serving the property meaning that legally the owner does not have right of access to their property.

The buyers lawyer will conduct a search to attempt to establish who is the legal owner of the road. Sometimes it appears not to be owned by anyone which may or may not be the case but in any event will mean that the owner will be nigh on impossible to contact.   In these circumstances it is necessary to obtain a statutory declaration. This is a declaration sworn before a solicitor following the protocol of the Statutory Declarations Act 1835.   In this process the seller states that he/she has had full use of the road without any contest or objection or without providing payment of any sort.

Fridaysmove do not charge additional fees for this.

Purchase Repossession/Purchase Supplement Fee

Buying a repossessed property is likely to put the buyer under a very strict deadline and this can make the transaction more compressed i.e. the same or higher amount of work will need to be conducted in a lesser amount of time.

Fridaysmove do not charge additional fees for Repossessions.

Retention Fee

Sometimes after completion a retention is held back pending a post completion event, e.g. finalising of freeholder company accounts.    In this example it would mean work continuing in chasing and reviewing managing agents end of year accounts until finalised and releasing the retention as appropriate.

Fridaysmove do not charge for handling retentions.

Researching and setting up a Title Repair or approving an Indemnity Policy (often charged per policy)

Finding the right indemnity policy can involve additional work although often less than rectifying the problem.

Either way Fridaysmove do not charge extra for this.

Sending you copy Title Deeds following completion

An additional charge for copying and sending your deeds to you after completion.

Fridaysmove do not charge you for this.

Separate parking space lease review Conveyancing Fee (Land Reg fee and landlord notice fee may also apply)

This can involve a considerable amount of work (and risk) if the lawyer misses it.

Either way, we make no additional charge.

TT Fee (Electronic transfer of Funds)

Every transaction requires this on completion

However we don't charge you as it's included in the price.

Stock transfer form and issuing of new share certificate in freehold company fee

This is a fee for dealing with the managing agents/ Freeholder in relation to obtaining and issuing a new share certificate.

We do this anyway included in the price.

SDLT Fee

There is a Government purchase tax on most residential property over £125, 000.   Conveyancers are required to submit a Stamp Duty Land Tax return (a complicated 7 page form) form on your behalf.

Fridaysmove do not charge for completing the SDLT form.

 

At Fridaysmove, we work with solicitors and conveyancers who are up front about their fixed fees for the legal work on sales, purchases, remortgages and transfers of equity. Why not get an instant fixed fee quote online so you know what to expect?

Get a free conveyancing quote: