Average Conveyancing Prices Revealed

Research has found the average prices conveyancers charge for typical home moving transactions.

100 conveyancers were approached by Property Solvers for quotes; each quote requested assumed the mortgage was to be redeemed (or paid off) or the property was being purchased with a mortgage, and property values never exceeded £450,000 for purchase or sale.

A mix of conveyancers from across the country were researched. The results did not take into account disbursements or supplementary fees.

Inclusive of VAT, the data showed that the average fee at the start of 2021 for a freehold property sale was £899.79. For a property purchase of the same tenure, the average came out as £911.35.  For leasehold property transactions, the average sale fee was at £907.95 and at £842.30 for purchases.

The research also tracked remortgaging fees (of a freehold property) with average costs coming out as £565.40 including VAT.

The data was collected in January 2021 when, according to Rightmove’s latest data, the number of new properties listed has fallen 21%; a result of the effects of lockdown.

Rightmove’s director of property data Tim Bannister suggested that data also showed that home movers were going ahead despite the likelihood of not meeting the current SDLT deadline.

“We’re starting to see fall throughs creep up a bit, though not by a substantial amount, a sign that some deals may be falling apart as they know they won’t complete in time to make the stamp duty holiday deadline, though this is likely to be in the groups set to make more substantial savings.  

“The start of February so far looks encouraging for activity, which points to some positive signs for the next few months and into Q2.”