The cost of conveyancing can vary depending on several factors, including the type of property being bought or sold, the location of the property and the solicitors chosen. However, there are some indications that prices may be on the rise in Romford.

This is likely due to a number of factors, including an increase in the Stamp Duty Land Tax (SDLT) for second homes and buy-to-let properties, as well as the recent introduction of the new Land Registry Fee.

As a result, it is important to compare conveyancing quotes from a number of different solicitors before making a decision. If you are thinking of buying or selling a property in Romford, choose AVRillo is a team of award winning conveyancing solicitors. We are authorised to provide you with the best conveyancing services in Romford by the Law Society and for a free, no-obligation quote.

What Are the Current Conveyancing Fees in Romford?

The average conveyancing fee in Romford is currently £895. However, this can vary depending on the type of property in the transaction, as well as the location of the property.

For example, fees for buying a flat are typically lower than for buying a house, as there is less work involved. Similarly, fees in London are generally higher than in other parts of the country due to the complexity of the transaction and the higher cost of living.

What Factors Have Contributed to an Increase in Conveyancing Fees?

The two main factors that have contributed to an increase in conveyancing fees are the Stamp Duty Land Tax (SDLT) and the new Land Registry Fee.

The SDLT is a tax that is payable on the purchase of the property. In April 2016, the government introduced a new rate of 3% for second homes and buy-to-let properties. This resulted in an increase in the overall cost of buying a property, as solicitors must now charge more to cover the additional tax.

The Land Registry Fee is a new fee that came into effect on 1st December 2017. This fee is payable when registering the property with the Land Registry and is based on the value of the property. For properties worth £200,000 or less, the fee is less than £100.

As a result of these two fees, conveyancing fees in Romford have increased by an average of £100 in the last year.

What Does This Mean for You?

If you are thinking of buying or selling a property in Romford, it is important to compare conveyancing quotes from a number of different solicitors. This will ensure that you get the best possible price for your transaction.

Our conveyancing solicitors can provide you with a free, no-obligation quote for your property transaction. Contact us today to find out more.

What’s Included in the Conveyancing Fees?

When you’re comparing quotes from different solicitors or conveyancers, it’s important to make sure that you’re comparing like-for-like. Some firms may quote a lower fee but then add on additional charges for things like bank transfer fees, postage, and photocopying. 

Typically, the fee will cover the following: 

• Searching the Land Registry to find out who owns the property and whether there are any restrictions on it (e.g. planning permission)

• Checking for any outstanding mortgages or other debts on the property 

• Drafting the contract of sale 

• Arranging for local searches to be carried out (e.g. checking for flood risk) 

• Negotiating with the other side if there are any issues with the sale 

• Making sure that the buyer has enough money to complete the purchase 

• Completing the transfer of ownership at the Land Registry 

• Paying Stamp Duty Land Tax (if applicable) 

Conclusion

If you are thinking of buying or selling a property in Romford, it is important to compare conveyancing quotes from a number of different solicitors. This will ensure that you get the best possible price for your transaction. AVRillo conveyancing solicitors can provide you with a free, no-obligation quote for your property transaction. Contact us today to find out more.