Costs

The legal costs charged to you will depend on the ature and complexity of work and the relevant experience of the legal advisor/solicitor who is giving the advice.

Our hourly rates are as set out in The Law Society solicitors guidelines hourly rates (National 2) https://www.gov.uk/guidance/solicitors-guideline-hourly-rates

Residential Conveyancing

Depending of the value of the property and complexity of the transaction, our fees range from £650 to £2,000 (Plus 20% VAT) for the following items of work. We provide written quotations on request which will take into account your individual requirements.

Freehold Property Purchases

  • Taking initial instructions by telephone
  • Reviewing contract pack and raising enquiries before contract
  • Submitting pre-contract searches and reviewing the results
  • Preparing a report on title
  • Reviewing any mortgage instructions and requesting funds (if required)
  • Raising requisitions on title
  • Exchanging contracts and completing the purchase
  • Completing the Land Transaction Tax / Stamp Duty Land Tax return and arranging payment of any tax due
  • Registering the property at the Land Registry
  • Attending to any requisitions raised by the Land Registry
  • Sending confirmation of registration to the client

Disbursements

Search Package (estimated) £200 – Depending on local authority
Bankruptcy Search (per person) £2.00
OS1/OS2 Priority Search (per title) £3.00
Mortgage administration fee (if required) £12.00
Land Registry registration fee Various – Depending on value of property
SDLT/LTT Various – Depending on value of property

Time estimate for the transaction: 8-12 weeks.

Freehold Property Sales

  • Taking initial instructions by telephone
  • Sending paperwork to client to complete and return
  • Preparing contract pack and ordering title documentation
  • Obtaining replies to enquiries before contract from client and drafting formal replies to the buyer’s solicitors
  • Requestion mortgage redemption statement from existing lender (if any)
  • Providing replies to requisitions on title
  • Exchanging contracts and completing the sale
  • Redeeming the mortgage and providing evidence of discharge
  • Arranging payment of estate agent’s commission fees (if any)

Time estimate for the transaction: 6-10 weeks.

The above range assumes that:

  • The Property is registered at the Land Registry
  • There are no discrepancies on the title plan and register
  • Any lender is a mainstream lender and not bridging finance or other non-standard lending arrangements
  • All planning and building control consents are available
  • Not more than one indemnity policy covering any defect in title is required
  • The client does not have a Help to Buy ISA

Disbursements

Office Copies and Title Plan (1 Title) £6.00

Remortgages

The cost of remortgaging a registered property depends on the value of the remortgage and the identity of the proposed new lender. Our costs range between £400 and £700 Plus 20% VAT

  • Take initial instructions by telephone
  • Sending paperwork to client to complete and return
  • Reviewing mortgage offer
  • Requestion mortgage redemption statement from existing lender
  • Ordering funds and completing the transaction
  • Redeeming the mortgage and providing evidence of discharge
  • Registering the remortgage at the Land Registry
  • Attending to any requisitions raised by the Land Registry
  • Sending confirmation of registration to the client

Time estimate for the transaction: 4-6 weeks.

The above estimate assumes that:

  • We represent both the client and the lender in the remortgage transaction
  • There is only one existing lender
  • The existing lender is a mainstream lender and not bridging finance or a private lending arrangement
  • There are no defects in title
  • Search insurance will be obtained in lieu of full searches on the property if acceptable to the lender

Leasehold Properties

Leasehold transactions cost typically £250 – £450 (Plus 20% VAT) more than freehold transactions due to the additional work required. This additional work typically includes:

  • Considering the leasehold title and the existing lease provisions
  • Attending to any Management Company requirements
  • Transfering of shares in the Management Company (if required)
  • Providing notice of transfer and charge to the Management Company and / or Landlord
  • Calculating apportionments of ground rent and service charge
  • Obtaining or considering replies to LPE1 from the Landlord / Management Company

Probate under IHT level

We anticipate that the administration of an estate would take between 5 and 15 hours work but the exact number of hours will depend on the individual circumstances of the matter

Initial Work

Depending on the amount of work involved and fee earner instructed our fees range from £750.00 to £3,000.00 for the following items of work. VAT is charged at 20% on all work done.

  • Initial interview with client to obtain instructions
  • Receiving, obtaining and sorting documentation
  • Sending initial letters to banks, building societies, insurance companies etc
  • If shares are held writing to the registrars to confirm number of shares held and thereafter to the Stockbrokers to obtain valuation
  • Obtaining a valuation of property and contents if required
  • Preparing IHT205 form and Statement of Truth
  • Obtaining these approved and thereafter arranging for them to be signed etc
  • Lodging with the Probate Registry to obtain a Grant
  • Registering the Grant with the banks, building societies etc to obtain proceeds
  • Inserting creditors notices in the London Gazette and local paper
  • If shares are held registering the Grant with the Registrars
  • Completing the forms to either transfer or sell the shares as required
  • Dealing with tax matters to date of death and for the period of administration

The exact cost will depend upon the circumstances of each individual estate:

  • whether there a valid Will or no Will
  • the number of executors/administrators
  • the number of bank, building society accounts and insurance policies involved
  • the number of stocks and shares involved (if any)
  • the number of beneficiaries involved whether a Deed of Variation is required
  • whether accountants are instructed in respect of tax returns
  • whether any claims against the estate are received

If a dispute should arise in respect of the estate there is likely to be an increase in costs

The above estimate does not include any work involved in selling of transferring any property owned by the deceased.

Please note that in probate matters Law Society guidelines state that our charges are to include a sum of 1% of the gross value of the estate and this sum will be incorporated into our fees.

If there are a large number of bank and building society accounts and a large number of stocks and shares this will increase the firm’s costs but a more accurate estimate could be given when the documentation and information is received

Disbursements in addition to the firm’s fees:

  • Commissioner’s fees – £7.00 per executor and £5.00 per administrator
  • Probate fees – £273.00 for the Grant of Probate
  • Bankruptcy Search – £2.00 per beneficiary
  • Creditors Notices (if required) approximately £300.00

Time estimate to fully administer an estate under the inheritance tax level – 6 to 12 months

All work is carried out by a solicitor or supervised by a solicitor with post 15 year experience.