+44(0)20 7638 9271
Menu Close

Druces Private Wealth

Further information on costs for residential conveyancing

Druces Private Wealth

Further information on costs for residential conveyancing

Costs for the sale, purchase or re-mortgage of a residential property 

Value: 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

Value: between £500,000 and £1m

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

Value: between £1m and £3m

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

Value: over £3m

By arrangement.

Likely disbursements (freehold and leasehold purchase)

1. Search fees – in the band £400- £750 plus VAT.
2. HM Land Registry Fee – (again depending on the value of the property) in the band £40 – £455.
3. Electronic Money Transfer Fees – £11.00 plus VAT – (this is the fee per transfer and of course if there is more than one transfer the fee will increase accordingly).

Likely disbursements (leasehold purchase only)

1. Notice of Transfer fee – this fee, if chargeable, is set out in the lease. Often the fee is between £50- £100.
2. Notice of Charge fee (if the property is to be mortgaged) – this fee is usually set out in the lease. Often the fee is between £50- £100.
3. 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.
4. Certificate of Compliance fee – to be confirmed upon receipt of the lease. Often it is between £150- £200.
These figures will usually attract 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. 

Fee earners and charging rates

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

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 £385 per hour;

Suzanne Middleton Lindsley, a Partner at Druces LLP. Suzanne is a solicitor qualified in England & Wales, with over 30 years post qualification experience in residential and commercial property conveyancing. Suzanne’s charging rate is £385 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 £385 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 £395 per hour;

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 £295 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 £295 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 £275 per hour;

Nicholas Brent, a Consultant at Druces LLP. Nicholas is a solicitor qualified in England & Wales, with 40 years post qualification experience in residential and commercial property conveyancing. Nicholas’ charging rate is £410 per hour;

If you have any questions regarding this cost information, please click on the contact us button below or speak to: 

How can we help?

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

Related Services

UK

Immigration

Real Estate

News

Druces advises Ideal Industries on sale of CMD

Druces’ corporate team has advised IDEAL INDUSTRIES, INC. (“IDEAL”) in connection with the sale of one of its divisions, CMD, to Rubicon Partners. IDEAL INDUSTRIES, INC. is a global,...