What are conveyancing disbursements

When you are  buying, selling or remortgaging your property, there are fees we have to pay to various third parties on your behalf, including the UK Government. These fees are known as Disbursements.

Disbursements Defined .. What should I expect as a Conveyancing Disbursement?

The definition of a disbursement is a payment that has to be made to a third party for a service provided or for a statutory required action on your behalf.

When you are trying to budget for moving home, it’s important that you understand the detail that is provided inside your conveyancing quote and to make sure that it’s an all inclusive fixed fee conveyancing quote, including all of your estimated disbursements!

We have provided you with a list of typical disbursements and the expected costs for these below:

Conveyancing – Sale Disbursements for Selling a Property

Bankruptcy Searches – Between £2 – £5

We will carry out a search against the names of all sellers in the Land Charges register. This search will reveal if any of them are currently bankrupt, are an un-discharged bankrupt or are about to be made bankrupt by virtue of any pending court actions.

Office Copies & Title Plan (Official Land Registry Copies) – Between £6 – £10

We will obtain an official copy of your title deeds / title plan from HM Land Registry. These documents confirm that you are the legal owner of the property you wish to sell.

Identity Check / AML Checks – Between £5 – £10

Due to Anti Money Laundering (AML) Regulations,  we  will need to verify the identity of anyone involved in the sale of your property. These days, most of these checks are conducted online, but you will be required to provide proof of your ID usually in the form of your passport, driving license or something similar.

Telegraphic Transfer Fee (TT Fee) – Around £45

Once your property sale has been completed, We will be responsible for the electronic transfer of your sale proceeds, to your designated and verified bank account.

Conveyancing – Purchase Disbursements for Buying a Property

Bankruptcy Searches – Between £2 – £5

When using a mortgage to purchase a property, your lender will usually insist that your conveyancer will carries out searches against the names of all buyers in the Land Charges register. This search will reveal if any of them are currently bankrupt, are an un-discharged bankrupt or are about to be made bankrupt by virtue of any pending court actions.

Office Copies & Title Plan (Official Land Registry Copies) – Between £6 – £10

We will obtain an official copy of the title deeds / title plan from HM Land Registry. These documents help to confirm details on the relevant property your looking to purchase and can assist when ordering required searches for the property.

ID Check / AML Checks – Between £5 – £15

Due to Anti Money Laundering (AML) Regulations, We will need to verify the identity of anyone involved in the purchase of a property. These days, most of these checks are conducted online, but you will be required to provide proof of your ID usually in the form of your passport, driving license or something similar.

Telegraphic Transfer Fee (TT Fee) – Between £15 – £40

We will be responsible for the electronic transfer of any money from yourself to the lender and from the mortgage lender, to the seller’s solicitors / conveyancing firm.

Property Searches – Between £180 – £350

We will conduct searches relating to the property you are looking to purchase. These searches are a combination of environmental reports, flood reports, water / drainage reports, local authority reports and chancel liablity checks. Most firms now offer something called a Conveyancing Search Pack that covers the core searches and requirements for your mortgage lender. Properties in certain areas of the country will require additional mining checks, if the property is in a known area of mining.

 

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