Conveyancing Pricing
At a time where money really matters, we always provide a quality service at a fair price. We will keep you up-to-date with all of the relevant information so you can make informed decisions and have complete confidence that every detail has been properly taken care of.
Residential Sale Pricing
When it comes to selling a property, there are important decisions you need to make and we are here to ensure that your all your legal obligations are met. There are lots of boxes to tick and we want to assist you in selling your house quickly and efficiently, leaving you free to move on to your next property.
Time Scales
- Number of parties in the chain.
- Whether the buyer has a mortgage in place.
- Whether the buyer requests lease extension for a leasehold property.
- Whether the searches flag up any issues.
- Whether buyer’s Survey shows up any issues.
- Buyer’s Enquiries.
Key Milestones
- Taking your instructions.
- Checking finances are in place for the buyer to fund the purchase.
- Drafting contracts of sale and any other necessary documents and reviewing these with you.
- Sending the contacts of sale to the buyer’s solicitor and dealing with any enquires they have.
- Providing advice on all documents and information received.
- Finalising the contract and sending to you for signature.
- Agreeing a completion date (the date from which the buyer will legally own the property).
- Exchanging contracts and notifying you that this has happened.
- Completing the purchase.
Pricing
| Property Value & Type | Fee (GBP) | VAT (20%) (GBP) | Total (GBP) |
|---|---|---|---|
| Up to £500,000 – Freehold | £1,200.00 | £240.00 | £1,440.00 |
| Up to £500,000 – Leasehold | £1,400.00 | £280.00 | £1,680.00 |
| Over £500,000 – Freehold | £1,300.00 | £260.00 | £1,560.00 |
| Over £500,000 – Leasehold | £1,500.00 | £300.00 | £1,800.00 |
- If the transaction involves Shared Ownership.
- The Property being unregistered.
- The extent of the questions raised by the purchaser’s solicitors.
- The level of client involvement required, and the seniority of our personnel required to be involved.
- If you wish to complete within 14 days of exchange.
Disbursements
Disbursements are costs related to your transaction that are payable to third parties. The most common disbursements for a purchase are as follows.
| Disbursement | Fee (GBP) | VAT (GBP) | Total (GBP) |
|---|---|---|---|
| Bank Transfer fees (Telegraphic transfer) | £50 per transfer | £10 | £60 |
| Identity Check Fee | £15 per person | £0 | £15 |
| Lawyer Check Fee | £15 | £0 | £15 |
If the Property is leasehold there maybe other disbursements payable to a management company for providing additional information these fees are between £200 - £600 plus VAT but can be higher or lower.
VAT is calculated the current rate of 20%
Residential Purchase Pricing
Time Scales
- This is a standard transaction and that no unforeseen matters arise, including (but not limited to) a defect in 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 is 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 providing documentation.
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Key Milestones
- Taking your instructions and giving you initial advice.
- Checking finances are in place to fund purchase and contacting lender's solicitors if needed.
- Receiving and advising on contract documents.
- Carrying out searches.
- Obtaining further planning documentation if required.
- Making any necessary enquiries of seller's solicitor.
- Giving you advice on all documents and information received.
- Going through the conditions of your mortgage offer.
- Sending the final contract to you for signature.
- Draft Transfer.
- Advising you on joint ownership.
- Obtaining pre-completion searches.
- Agreeing a completion date (the date from which you own the property).
- Exchanging contracts and notifying you that this has happened.
- Arranging for all monies needed to be received from lender and you.
- Completing purchase.
- Dealing with payment of Stamp Duty/Land Tax.
| Property / Transaction Type | Fee (GBP) | VAT (20%) (GBP) | Total (GBP) |
|---|---|---|---|
| Up to £500,000 – Freehold | £1,300.00 | £260.00 | £1,560.00 |
| Up to £500,000 – Leasehold | £1,500.00 | £300.00 | £1,800.00 |
| Over £500,000 – Freehold | £1,400.00 | £280.00 | £1,680.00 |
| Over £500,000 – Leasehold | £1,600.00 | £320.00 | £1,920.00 |
| Right to Buy | £1,400.00 | £280.00 | £1,680.00 |
Other factors that can increase our fees are:
- If the transaction involves Shared Ownership.
- The Property being unregistered.
- The level of client involvement required, and the seniority of our personnel required to be involved by the client.
- The extent of the questions we are required to raise and the responses provided by the sellers solicitors.
- Whether consents from any third party (typically but not always a landlord) are required and whether that third party attaches conditions to that consent.
- If the financing involves a second or subsequent legal charges.
- If you wish to complete within 14 days of exchange.
Disbursements
Disbursements are costs related to your transaction that are payable to third parties. The most common disbursements for a purchase are as follows.
| Disbursement | Fee (GBP) | VAT (GBP) | Total (GBP) |
|---|---|---|---|
| Bank Transfer fees (Telegraphic transfer) | £50 per transfer | £10 | £60 |
| Land Registry Registration fee | £20 – £140 | £0 | £20 – £140 |
| Identity Check Fee | £15 per person | £0 | £15 |
| Lawyer check fee | £ 15 | £ 15 | |
| OS1 Search Fee | £7 per title | £0 | £7 |
| Bankruptcy Search Fee | £7 per person | £0 | £7 |
| Local Authority search fees | £209 | £0 | £209 |
- There may be notice fees payable to the Landlord which may require a notice fee to be payable of between £50-£200 plus VAT.
Question
1) Probate and Estate Administration Costs (Uncontested with all assets in the UK)
Our costs and timescales are dependent upon the complexity of the matter and size of the estate, but in most cases, we are able to provide you with a fixed fee for the work to be carried out, before we proceed.
If we are unable to offer with a fixed fee, we will provide you with our hourly rates together with an estimate of the time it will take to complete the matter.
All our fixed fee costs are plus VAT (currently 20%) and disbursements.
Disbursement are costs incurred during the process of the matter, which we pay on your behalf to third parties i.e. Court fees and Land Registry Fees.
The below estimates are for guidance purposes only as each estate varies.
1.1) Solely Obtaining the Grant of Probate or Letters of Administration
This is a limited service and is execution only and relies on you providing valuations and all relevant information to us, to enable us to solely obtain the Grant of Probate.
In these circumstances we will usually charge a fixed fee as set out as follows for undertaking the work detailed:
| 1. Our fees for a basic application for a Grant of Probate or Letters of Administration are £950 plus VAT of £190, making a total of £1,140 and an additional fee for disbursements i.e. the court fee. This is a basic application where we will complete and submit the probate application to the Probate Registry but where no claim is required for Residence Nil Rate Band and the HMRC long form application IHT0 is not required. |
| 2. Our fees for an application where there is no inheritance tax payable but the estate requires a residence nil rate band application and or a long form HMRC application (IHT 400) is 1% of the gross value of the estate plus VAT and and disbursements. We will complete and submit the probate application to the Probate Registry and prepare and submit the IHT400 and supporting schedules to HMRC. Please note, this does not include work required if agricultural relief or business property relief is to be claimed which will incur additional fees. |
| 3. Our fees for an application where there is inheritance tax payable is 1% of the gross value of the estate plus VAT and disbursements. We will complete and submit the probate application to the Probate Registry and prepare and submit the IHT400 and supporting schedules to HMRC, including those to claim transferable nil rate band and residence nil rate band where applicable. We will also complete form IHT423 if applicable to arrange payment of inheritance tax. Please note, this does not include work required if agricultural relief or business property relief is to be claimed which will incur additional fees. |
Once the Grant of Probate or Letters of Administration are obtained this is forwarded to the Executors to enable them to administer the estate and our involvement ceases.
1.2) Full Estate Administration
In most cases we are able to provide a fixed fee, subject to the circumstances of each case as follows:
| 1. Estates with a gross value under £250,000 – our fees are normally £3,000 plus VAT of £600, making a total of £3,600 plus disbursements. |
| 2. Estates with a gross value up to £325,000 – our fees are normally £4,000 plus VAT of £800 making a total of £4,800 plus disbursements. |
| 3. Estates with a gross value between £325,001 – £1,500,000 our fees are normally 1.5% of the gross value of the estate plus VAT and disbursements. For instance if the gross value of the estate was £750,000, our fees would be £750,000 x 1.5% = £11,250 plus VAT of £2250, total £13,500 plus disbursements. |
| 4. Estates with a gross value between £1,500,001 to £3,000,000 our fees are normally 1.35% of the gross value of the estate plus VAT and disbursements. For instance if the gross value of the estate was £1,800,000 our fees would be £24,300 plus VAT of £4860, making a total of £29,160 plus disbursements. |
1.3) Disbursements
These include but are not limited to:
| Probate fee | £273 plus additional copies of the Grant £1.50 each |
| Bankruptcy searches | £2 for each beneficiary if based in the UK |
| Statutory advertisements | Approximately £200 plus VAT of £40.00 (total approximately £240) |
| Land Registry Fees | From £3 but dependent on the Estate |
| Electronic Identity Search Fees | £18 plus VAT of £3.60 per person (if based in UK), total £21.60 |
| Financial Assets Search | Approximately £185 plus VAT of £37 (approximately total £222) |
| Property Valuations & Share Valuations | Dependant on the fees charged by the Valuer |
The average hourly charging rate for team members is: £300 plus VAT of £60 per hour.
Full details of individual’s charge out rates are included in the client care pack that is sent to you following instruction.
We can either act to obtain the grant of probate and letters of administration or we can act in the administration of the entire estate.
1.4) Timescales
Obtaining the Grant of Probate will usually take between 12-20 weeks once all information has been received to enable the application to be prepared and you have signed and returned the application to us.
Estate administration can take between 3-18 months depending on the complexity of the estate.
1.5) Stages of Probate – full estate administration service (not included in Grant Only Service)
- Provide you with a dedicated and experience probate solicitor to work on your matter.
- Identify the legally appointed executors or administrators and beneficiaries.
- Advise the executors or administrators of the work that is required to administer the estate.
- Liaise with you and obtain details and valuations of all of the assets and liabilities of the estate as required for the Probate Registry application and any HMRC inheritance tax Applications.
- Obtain the relevant documents required to make the application and apply for an IHT reference number if required.
- Draft and submit the Probate Application and any relevant HMRC forms after they are approved by you.
- Obtain the Grant of Probate or Letters of Administration as the case may be and provide you with a copy.
- Collect in all of the assets / transfer assets – as applicable.
- Discharge all estate liabilities from funds available.
- Advise separately on any trust arising under the Will or intestacy.
- Prepare estate accounts showing full details of all assets, liabilities, financial transactions and distribution of the estate.
- Distribute the estate in accordance with the terms of the Will or the intestacy rules.
1.6) Matters not included in our fees:
- Registering the death.
- Arranging the funeral.
- Administering assets outside of England and Wales.
- Administration of an estate which is or become insolvent.
- Work involved in any dispute in connection with the estate. For instance, disputes between executors / beneficiaries, claims made against the estate by creditors or by an individual who claims that the deceased did not make adequate financial provision for them, or that the Will is invalid.
- 6Property work such as conveyancing involved with the sale of property or the transfer of property to beneficiaries or updating Land Registry records.
- Work arising from gifts made by the deceased during his or her lifetime.
- Any work required re the rectification or variation of a Will or variation of intestacy laws.
- Preparation and submission of income tax or capital gains tax returns.
- Registering a trust on the HMR Trust Registration Service.
- Work involved in tracing missing beneficiaries or executors.
All work will be carried out by our probate and estate administration team. For further information about the team please see Legal Services.
1.7) WILLS
For Wills, we offer a fixed price of £ 200 Plus VAT of £40 for a single Will or £300 plus VAT of £60 for Mirror Wills. We charge an additional £30 for home visits.
1.7.1) Time Scales
We aim to provide you with a draft for approval within 7 working days of taking your instructions. Please note that the above timescales are variable due to a number of factors.
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