Conveyancing Fees
Property Transactions
At Velvet Law, we provide a bespoke conveyancing service for clients purchasing, selling, refinancing and restructuring ownership of property and land in England and Wales.
We provide a partner-led service with direct access to experienced lawyers throughout your transaction.
The fees below are intended as a guide only. Every matter is different and we will provide a tailored quotation once we understand your requirements.
Purchase Fees
| Purchase Price | Freehold | Leasehold |
| Up to £500,000 | £2,500 – £4,500 + VAT | £3,500 – £5,500 + VAT |
| Up to £1 million | £4,500 – £7,500 + VAT | £5,500 – £8,500 + VAT |
| £3 million – £5 million | £12,500 – £20,500 + VAT | £16,500 – £20,500 + VAT |
| £5 million+ | 0.40% – 0.75% of purchase price + VAT | 0.50% – 0.85% of purchase price + VAT |
Sale Fees
| Sale Price | Freehold | Leasehold |
| Up to £500,000 | £2,000 – £4,000 + VAT | £3,000 – £5,000 + VAT |
| Up to £1 million | £4,000 – £7,000 + VAT | £5,000 – £8,000 + VAT |
| £1 million – £3 million | £7,000 – £12,000 + VAT | £8,000 – £16,000 + VAT |
| £3 million – £5 million | £12,000 – £18,000 + VAT | £16,000 – £20,000 + VAT |
| £5 million+ | 0.30% – 0.60% of sale price + VAT | 0.40% – 0.75% of sale price + VAT |
Remortgages and Transfers of Equity
| Transaction Type | Typical Fee |
| Freehold remortgage | £3,500 – £6,500 + VAT |
| Leasehold remortgage | £4,500 – £8,500 + VAT |
| Transfer of equity | £3,500 – £7,500 + VAT |
| Trust restructuring or declaration of trust | £4,000 – £12,000 + VAT |
Typical Disbursements
In addition to our legal fees, clients will usually incur disbursements payable to third parties.
These may include:
| Disbursement | Typical Cost |
| HM Land Registry fees | £20 – £1,105+ |
| Property searches | £400 – £800 + VAT |
| Bankruptcy searches | Approximately £6 per individual |
| Priority searches | Approximately £7 per title |
| Electronic identification checks | £20 – £75 per individual |
| Telegraphic transfer fees | £45 + VAT per transfer |
| Managing agent information packs (leasehold) | £300 – £1,500 + VAT |
| Notice fees and certificates of compliance | £100 – £1,000 + VAT |
| Deeds of covenant and landlord consents | £250 – £2,500 + VAT |
Stamp Duty Land Tax (“SDLT”) is payable on purchases where applicable and is not included within our fees.
Factors Affecting Cost
The fee ranges above assume a standard transaction.
Additional fees may apply where:
- The property is valued above £5 million;
- The property is owned through a company, trust or partnership;
- There are offshore ownership structures;
- The transaction involves a new build or off-plan property;
- There are title defects or unregistered land issues;
- Specialist planning, construction or rights of light advice is required;
- The transaction is subject to auction conditions;
- There are complex funding arrangements;
- There are tight or accelerated completion deadlines; or
- Extensive negotiations are required.
Where additional work becomes necessary, we will discuss this with you before incurring significant additional fees.
What Is Included?
Purchases
Our fees typically include:
- Taking your instructions and carrying out client due diligence and source of funds checks;
- Reviewing title documentation;
- Conducting and reviewing searches;
- Raising and responding to enquiries;
- Reviewing the mortgage offer and satisfying lender requirements;
- Advising on title and transaction documentation;
- Reporting to you on all relevant legal issues;
- Exchanging contracts;
- Completing the transaction;
- Submitting SDLT returns; and
- Registering your ownership at HM Land Registry.
Sales
Our fees typically include:
- Reviewing title documentation;
- Preparing and issuing the contract package;
- Responding to enquiries;
- Negotiating transaction documents;
- Exchanging contracts;
- Redeeming any existing mortgages;
- Completing the transaction; and
- Accounting to you for the sale proceeds.
What Is Not Included?
Unless expressly agreed, our fees do not include:
- Tax advice;
- Wealth structuring advice;
- Trust advice;
- Corporate advice;
- Planning advice;
- Construction advice;
- Surveyor’s fees;
- Valuation fees;
- Environmental advice;
- Litigation advice;
- Declarations of trust;
- Co-ownership agreements; or
- Licence, tenancy or management documentation.
These services can be provided separately where required.
Timescales
Every transaction is different.
As a general guide:
| Transaction Type | Typical Timescale |
| Standard freehold purchase or sale | 8–12 weeks |
| Leasehold purchase or sale | 10–16 weeks |
| High-value or complex transaction | 12–20 weeks |
| Remortgage | 4–8 weeks |
Timescales will depend on factors including lender requirements, search results, title issues, the responsiveness of third parties and the length of any property chain.
VAT
VAT will be charged on our fees and certain disbursements at the prevailing rate, currently 20%.
