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Costs for Residential Conveyancing

The Solicitors Regulation Authority requires solicitors to provide detailed information as to the costs of certain services via our website. This includes residential property conveyancing.

The information we provide is either the average cost of the work or a range of costs, usually based on hourly rates, and any likely disbursements. Disbursements are costs that we incur on your behalf with third parties such as a local authority and which we re-charge to you in our bill.

In addition, we provide information about the solicitors and other fee earners who will manage your case, their qualifications and experience.

The information provided is based on our experience of the costs we charge for typical transactions or cases. Our actual charges may vary depending on the complexity of your matter and in cases where complications arise. We will give you a cost estimate at the outset of your matter, taking into account the actual circumstances of your case. We will also update our estimate if any complications arise which may have an impact on our costs.

In a straightforward transaction our fees depend on the value of the property; a guide those fees is set out below. If the transaction is unlikely to be straightforward (or turns out not to be) we will tell you as soon as possible let you know how much we think any extra charge will be. Any such extra charge will be based on the additional work we think will be needed. The hourly charging rates for those who might be involved in the transaction appear below.

We do not normally charge an extra fee for acting in connection with any mortgage but may do so if the lender is separately represented.

Sale, purchase or re-mortgage of a residential property with a value of less than £500,000

Sale of freehold: £2,500 – £3,250 plus VAT
Sale of leasehold: £2,750 – £3,500 plus VAT
Purchase or re-mortgage of freehold: £3,250 – £3,750 plus VAT
Purchase or re-mortgage of leasehold: £3,750 – £4,250 plus VAT
Purchase of new build freehold: £3,500 – £4,250 plus VAT
Purchase of new build of leasehold: £4,250 – £4,750 plus VAT

Sale, purchase or re-mortgage of a residential property with a value between £500,000 and £1,000,000

Sale of freehold: £2,750 – £3,250 plus VAT
Sale of leasehold: £3,000 – £4,000 plus VAT
Purchase or re-mortgage of freehold: £3,950 – £4,750 plus VAT
Purchase or re-mortgage of leasehold: £4,500 – £5,250 plus VAT
Purchase of new build freehold: £5,500 – £6,250 plus VAT
Purchase of new build of leasehold: £7,000 – £7,750 plus VAT

Sale, purchase or re-mortgage of a residential property with a value of between £1,000,000 and £3,000,000

Sale of freehold: £3,500 – £4,000 plus VAT
Sale of leasehold: £3,950 – £4,500 plus VAT
Purchase or re-mortgage of freehold: £6,000 – £6,750 plus VAT
Purchase or re-mortgage of leasehold: £7,500 – £8,250 plus VAT
Purchase of new build freehold: £8,000 – £10,500 plus VAT
Purchase of new build of leasehold: £9,500 – £11,500 plus VAT

Transactions over £3,000,000

By arrangement

Likely disbursements (freehold and leasehold purchase)

Search fees: in the band of £400- £750 plus VAT (depending on the value of the property)
HM Land Registry fee: in the band of £40 – £455 (depending on the value of the property)
Electronic Money Transfer fees: £11.00 plus VAT (this is the fee per transfer – if there is more than one transfer the fee will increase accordingly)
Obtaining and checking ID: £13.50 plus VAT

Likely disbursements (leasehold purchase only)

Notice of Transfer fee: this fee, if chargeable, is set out in the lease. Often the fee is between £50- £100.
Notice of Charge fee: if the property is to be mortgaged then this fee is usually set out in the lease. Often the fee is between £50- £100.
Deed of Covenant fee: this figure is often provided by the management company for the property and can be difficult to estimate. Often it is between £200- £400.
Certificate of Compliance fee: to be confirmed upon receipt of the lease. Often it is between £150- £200.

These fees will usually be subject to VAT at the standard rate.

Stamp Duty Land Tax, or, in Wales, Land Transaction Tax

The amount payable will depend on the purchase price and your personal circumstances, e.g. whether you have an interest in other property or are non-resident. We will calculate, and notify you of, the amount due at the appropriate time based on information which you provide to us. We will file the appropriate returns on your behalf and, provided that you put us in funds, we will pay the tax online by the due date. Which is usually 14 days after completion.

Purchase of a Residential Property

Our fees cover all the work required to complete a purchase of a residential property, including:

taking your instructions;
receiving a draft contract, copies of title documents and information forms from the seller’s solicitors
undertaking local authority, planning, water and drainage, desktop environmental and flood and other searches
raising enquiries of the seller’s solicitors
reviewing the title documents, including Land Registry entries and plan, negotiating and approving the terms of the contract
providing you with a summary report when the contract is ready to be signed
sending you the contract to sign; obtaining your deposit
exchanging contracts having agreed a completion date
preparing the transfer and agreeing its form with the seller’s solicitor
arranging for the transfer to be signed before completion
raising pre-completion enquiries (requisitions) of the seller’s solicitors
making a Land Registry search prior to completion
completing the transaction by sending the completion monies to the seller’s solicitors
completing and lodging the Stamp Duty Land Tax form, and remitting the tax payment (subject to receipt of the same from you) to the relevant tax office
registering the purchase at the Land Registry
on completion of the Land Registry work scheduling the deeds and sending you a copy of the Land Registry entries showing you as the registered proprietor

Sale of a Residential Property

Our fees cover all the work required to complete a sale of a residential property, including:

taking your instructions
preparing a draft contract
obtaining copies of title documents and information forms to submit to the buyer’s solicitors
dealing with enquiries raised by the buyer’s solicitors
negotiating the terms of the contract
providing you with a summary report when the contract is ready to be signed
sending you the contract to sign
obtaining a redemption figure from any lender
exchanging contracts having agreed a completion date
approving the form of transfer
arranging for the transfer to be signed before completion
replying to pre-completion enquiries (requisitions) raised by the buyer’s solicitors
preparing a completion statement for the buyer’s solicitor and a cash statement showing monies due to your agents, ourselves (in respect of our fees) and your lender and the balance due to you
completing the transaction and dealing with your lender in respect of obtaining a release of your mortgage with them
arranging for the completion monies to be disbursed as per the cash statement

Re-mortgage of a residential property

Our fees cover all the work required to complete a re-mortgage of a residential property, including:

taking your instructions
obtaining copies of title documents and information forms from you
undertaking local authority, planning, water and drainage, desktop environmental and flood and other searches
raising enquiries of you
reviewing the title documents, including Land Registry entries and plan
providing you with a summary report on the mortgage
sending you the mortgage to sign; making a Land Registry search prior to completion
arranging for the drawdown of the mortgage advance and repayment of any existing mortgage
registering the mortgage at the Land Registry
on completion of the Land Registry work scheduling the deeds and sending you a copy of the Land Registry entries showing the new mortgagee

Assumptions which affect price

When you instruct us to act for you in a purchase we will, as required by our Regulator, give you a retainer letter and our Terms of Business.

The retainer letter will set out our best estimate at that time of the fee, as calculated above, together with the assumptions on which the estimate is based. The assumptions will vary depending on the circumstances but are likely to include:

This is a standard transaction and no unforeseen matters arise including, for example, (but not limited to) a defect in the title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
This is the assignment of an existing lease and not the grant of a new lease.
The transaction is concluded in a timely manner and no unforeseen complications arise.
All parties to the transaction are co-operative and there is no unreasonable delay from third parties in the provision of documents.
No indemnity policies are required. (Additional disbursements may apply if indemnity policies are required).

As you can see fees will vary from property to property and can, on occasion, be significantly more than the ranges given above. We can give you an accurate figure once we have the specific documents before us.

How long will my house or flat purchase take?

How long it will take from your offer being accepted until you can move into your house or flat will depend on a number of factors. The average process takes about 12 weeks.

It can be quicker or slower depending on the parties in the chain. For example, if you are in a chain of several sales and purchases of houses of high value with or without mortgage finance it could take 16 weeks or more.

However, again as an example, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 months and (at the outside) 1 year. In such a situation additional charges would apply.

Fee-earners and charging rates

The fee-earners who work on our residential conveyancing matters include:

Partners:

Karen Chapman, a Partner at Druces LLP. Karen is a solicitor qualified in England & Wales, with 30 years post qualification experience in residential and commercial property conveyancing. Karen’s charging rate is normally £420 per hour.

Adrian Footer, a Partner at Druces LLP. Adrian is a solicitor qualified in England & Wales, with over 15 years post qualification experience in residential and commercial property conveyancing. Adrian’s charging rate is normally £495 per hour.

Parveen Abbas is a partner and Head of Residential Property. She has expert knowledge in all aspects of residential conveyancing including leasehold and freehold sales and purchases, re-mortgage transactions and transfers of equities. Parveen’s charging rate is normally £420 per hour.

Paul White, a Partner at Druces LLP. Paul is a solicitor qualified in England & Wales with over 25 years post qualification experience in Tax law, especially Stamp Duty Land Tax. Paul’s charging rate is normally £495 per hour.

Afsor Ullah is a Partner in Druces’ Real Estate team with a decade of experience advising UK and Middle Eastern clients on Islamic finance, property transactions, and Shariah-compliant structures. A recognised voice in the sector, he regularly contributes to industry commentary and mentors aspiring lawyers. Afsor’s normal hourly rate is £420 per hour.

Senior Associates, Solicitors, and Associates:

Michelle Goodrum, a Senior Associate at Druces LLP. Michelle is a solicitor qualified in England & Wales, with over 5 years post qualification experience in residential and commercial property conveyancing, with a particular specialism in Leasehold Enfranchisement. Michelle’s charging rate is normally £350 per hour.

Katie Mear, a Senior Associate at Druces LLP. Katie is a solicitor qualified in England & Wales, with over 10 years post qualification experience in residential and commercial property conveyancing, with a particular specialism in Leasehold Enfranchisement. Katie’s charging rate is normally £350 per hour.

Ronak Bastani , a senior associate in Druces’ Real Estate team. She qualified as a solicitor in 2014 and joined Druces in 2023. A residential property specialist, Ronak has a wealth of real estate experience. Her clients include first time buyers and experienced property investors, developers and high net worth clients purchasing multi-million-pound homes in the prime central London market. Ronak’s charging rate is normally £350 per hour.

Karen Jenkins, an Associate at Druces LLP. Karen is a Legal Executive qualified in England & Wales, with over 15 years of residential conveyancing experience. Karen’s charging rate is normally £290 per hour.

All figures for fees and disbursements are exclusive of VAT which in the majority of cases will be charged in addition at the standard rate of 20%.

Who to Contact

If you have any questions regarding this cost information, please contact:

PARVEEN ABBAS

Partner, Real Estate

Parveen is a partner and Head of Residential Property. She has expert knowledge in all aspects of residential conveyancing including leasehold and freehold sales and purchases, re-mortgage transactions and transfers of equities. Parveen prides herself on giving clear and straightforward explanations of the complexities of these transactions to her clients.

How can we help?

To find out more about our services, please contact us on:

+44 (0)20 7638 9271

Druces Private Wealth

Costs for Residential Conveyancing

Sale, purchase or re-mortgage of a residential property with a value of less than £500,000

Sale, purchase or re-mortgage of a residential property with a value between £500,000 and £1,000,000

Sale, purchase or re-mortgage of a residential property with a value of between £1,000,000 and £3,000,000

Transactions over £3,000,000

Likely disbursements (freehold and leasehold purchase)

Likely disbursements (leasehold purchase only)

Stamp Duty Land Tax, or, in Wales, Land Transaction Tax

Purchase of a Residential Property

Sale of a Residential Property

Re-mortgage of a residential property

Assumptions which affect price

How long will my house or flat purchase take?

Fee-earners and charging rates

Partners:

Senior Associates, Solicitors, and Associates:

Who to Contact

How can we help?

+44 (0)20 7638 9271

enquiries@druces.com

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