RESIDENTIAL PROPERTY FEES

Our fees cover all of the work required to complete the sale and/or purchase of your new home, including dealing with the payment of Stamp Duty Land Tax and dealing with registration at the Land Registry. 

RESIDENTIAL PURCHASE

Property Law Fees and Disbursements

  • Legal fees: starting at £800 plus VAT
  • Search fees: £214 for the standard search package
  • HM Land Registry fee: £45 – £540 depending on the value of the property and whether the property is already electronically registered at the Land Registry or not.
  • Electronic money transfer fee: £30 plus VAT (same day) £10 plus VAT (three day transfer)
  • Land Charges search fees: £3 – £7 (generally)
  • VAT payable at 20% where indicated.

Referral Fees

  • Amount of referral fee paid £50 – £100 plus VAT. Please note this fee is paid by us to the referrer and not charged to the client.
  • Recipient of referral fee – varies. We have a number of referral arrangements, mainly with Estate Agents.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty Land Tax

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here..

Additional Fees and Disbursements for Leasehold Purchase

Please note the following additional fees and disbursements for leasehold purchases are as follows:

  • Additional legal fees starting from £100 plus VAT
  • Notice of Transfer fee – This fee, if chargeable, is set out in the lease. Often the fee is between £40 – £300
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £40 – £300
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50 and £300
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50 and £300

These fees 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 sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

Generally, after exchange of contracts, the service charges are apportioned to cover the period of ownership so there may be an additional charge on completion.

Transactions which attract a further fee in addition to the standard legal fee include:

  • Auction purchase – varies depending on the stage we are instructed.
  • Shared Ownership: additional fee of £300 plus VAT
  • Help to Buy equity loan scheme: additional fee of £250 plus VAT

Our fee assumes that:

  • this is a standard transaction and that no unforeseen matters arise including for example (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 complication 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

Timescales

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-8 weeks for a freehold transaction and a further two to three weeks for a leasehold transaction.

It can be quicker or slower, depending on the parties in the chain and the length of the chain. Some matters can take significantly longer, like, for example, you are buying a leasehold property that requires an extension of the lease. In such transactions additional charges would apply.

Stages of the Purchase Process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages are as follows:

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Review the leasehold management pack (Leasehold only)
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Advise on joint ownership
  • Arrange for the contract to be signed
  • Agree completion date (date from which you own the property)
  • Agree apportionments and/or retention of service charges (Leasehold only)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Obtain pre-completion searches
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax
  • Draft and serve Notice of Assignment and Charge (if applicable) on Landlord, arrange for signature and service of Deed of Covenant and obtain Certificate of Compliance from Landlord (Leasehold only)
  • Deal with application for registration at Land Registry

 

RESIDENTIAL SALE

Property Law Fees and Disbursements

  • Legal fees: starting from £800 plus VAT
  • Copy title from H M Land Registry £6 – £15
  • Electronic money transfer fee: £30 plus VAT (same day) £10 plus VAT (three day transfer)
  • Leasehold sale pack from the management company or managing agents: £150 – £450 (Leasehold transactions only)
  • VAT payable at 20% where indicated.

Referral Fees

  • Amount of referral fee paid £50 – £100 plus VAT. Please note this fee is paid by us to the referrer and not charged to the client.
  • Recipient of referral fee – varies. We have a number of referral arrangements, mainly with Estate Agents

Stages of the Sale Process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the key stages are as follows:

  • Take your instructions and give you initial advice
  • Draft a contract and provide the contract papers to the buyer’s solicitors
  • Obtain leasehold management pack from the management company or managing agents (Leasehold transactions only)
  • Deal with enquiries raised by the buyer’s solicitors
  • Apply for a redemption statement from your lender (if applicable)
  • Arrange for signature of the contract
  • Agree a completion date
  • Agree apportionments and/or retention of service charges and ground rent (Leasehold only)
  • Exchange contracts and notify you that this has happened
  • Complete the sale
  • Pay the estate agents
  • Redeem your mortgage (if applicable)

 

MORTGAGE AND RE-MORTGAGE

Property Law Fees and Disbursements

  • Legal fees: £750 plus VAT
  • Search fees: £214 for the standard search package
  • HM Land Registry fee: £20 – £540 depending on the value of the mortgage and whether the property is already electronically registered at the Land Registry or not.
  • Electronic money transfer fee: £30 plus VAT (same day) £10 plus VAT (three day transfer)
  • If a mortgage is tied in with a Transfer of Equity transaction the fee for both is £500 plus VAT
  • VAT payable at 20% where indicated

 

TRANSFER OF EQUITY

Property Law Fees and Disbursements

  • Legal fee: £750 plus VAT
  • HM Land Registry fee: £20 – £540 depending on the value of the transfer and whether the property is already electronically registered at the Land Registry or not.
  • Electronic money transfer fee: £30 plus VAT (same day) £10 plus VAT (three day transfer)
  • If a mortgage is tied in with a Transfer of Equity transaction the fee for both is £500 plus VAT
  • VAT payable at 20% where indicated

 

Due to the nature of these transactions and the variable factors to take into account, please contact us for an accurate quote of the disbursements payable such as Land Registry fees and any stamp duty payable.

 

PROBATE AND WILLS FEES

PROBATE FEES

We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.

How much does this service cost?

A fixed fee of:

  • 0.75% of the market value of residential property (excluding conveyancing fees) plus VAT
  • 1.5% of all other assets (including cash, investments, insurance policies etc) plus VAT
  • VAT payable at 20% where indicated

This includes: obtaining the grant, collecting assets and distributing them.

Disbursements:

  • Probate court fee: £155
  • Swearing of the oath: £7 (per executor)
  • Bankruptcy searches: £2 (per beneficiary)
  • Statutory advertising: varies
  • Copy Grant of Probate: £0.50 (each)
  • Land Registry fees (if applicable): varies
  • Valuation fees: varies

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Scope of our work

As part of our fixed fee we will:

  • Provide you with a dedicated and experienced probate Legal Executive to work on your matter
  • Identify the legally appointed executors or administrators and beneficiaries
  • Accurately identify the type of Probate application you will require
  • Assist with obtaining professional valuations for Inheritance Tax purposes
  • Ascertaining the value of all lifetime gifts made by the deceased for Inheritance Tax purposes
  • Obtain the relevant documents required to make the application
  • Complete the Probate Application and the relevant HMRC forms
  • Draft a legal oath for you to swear
  • Make the application to the Probate Court on your behalf
  • Obtain the Probate and securely send copies to you
  • Reimburse you of your out of pocket expenditure in connection with the estate
  • The payment of any debt and testamentary expenses
  • Preparation of suitable estate and administration accounts
  • Collect and distribute all assets in the estate

 

The above work excludes the following:

  • Any contentious probate work
  • The clearance of the personal income tax and capital gains tax affairs of the deceased up to the date of death
  • Dealing with buildings, contents and water pipe insurance in connection with the property interest
  • Charges and any conveyancing fees (if any) relating to any property interests in the estate
  • Special Inheritance or other tax and estate planning, if required, will be subject to a charge to be agreed
  • Assisting with any necessary Estate and Trust Income Tax returns that may be required and the preparation of Tax Certificates for any residuary beneficiary for Income Tax purposes

Timescales and Limits

It is very difficult to give an exact indication of the period of time over which we are able to complete your instructions because this will depend on many variable factors outside our control or knowledge at the outset (for example, the length of time taken to achieve the sale of any property or other assets and whether any claims are made against the estate). Typically, obtaining the Grant of Probate takes between three to six months and the average estate to be distributed within a year.

In addition, certain time limits which should be borne in mind include the following:

  • Interest of Inheritance Tax, if any, will be payable from six months after the end of the month in which the death occurs
  • An Inheritance Tax Account must be submitted prior to the expiry of 12 months from the end of the month in which the death occurs
  • If a Deed of Variation is required to vary the distribution, to be effective for tax purposes, it must be signed within 2 years of the date of death of the person whose estate is to be varied
  • A claim under Inheritance (Provision of Family and Dependents) Act 1975 by someone wishing to dispute the Will must be made within 6 months of the issue of the Grant of Probate and no distribution should be made until 4 months after the expiration of that 6 month period without careful consideration

 

WILLS AND LASTING POWER OF ATTORNEY (LPA) FEES

 

  Net Cost £

VAT

£

Disbs

£

Total

£
Single Will 270.00 54.00 0.00 324.00
Mirror Wills 400.00 80.00 0.00 480.00
Codicil 80.00 16.00 0.00 96.00
Declaration of Trust 250.00 50.00 0.00 300.00
Discretionary Trust Wills 500.00 100.00 0.00 600.00
Property Protection Wills 400.00 80.00 0.00 480.00
Single LPA 350.00 70.00 82.00 502.00
Two LPA’s 500.00 100.00 164.00 764.00
Single Will and 1 LPA 445.00 89.00 82.00 616.00
Single Will and 2 LPAs 545.00 109.00 164.00 818.00
Mirror Will and 1 LPA 645.00 129.00 164.00 938.00
Mirror Will and 2 LPAs 745.00 149.00 328.00 1222.00

       

FAMILY FEES

We offer an introductory half hour or one hour consultation for new clients with one of our legal team at a fixed price (inclusive of VAT) as follows:

  • Richard Ronaldson (Managing Director and Senior Solicitor):                   £100 per 30 mins
  • Sarah Denny (Director of Family Law & Solicitor):                                     £100 per 30 mins
  • Tracy Bunn (Trainee Legal Executive):                                                       £75 per 30 mins
  • Kirstin Wright (Trainee Solicitor):                                                                 £75 per 30 mins

We strive to be as efficient as possible, so that we spend as little time as necessary on your matter.

 

Fees and Disbursements – Fixed Fee Divorce

We offer a fixed fee for routine divorce proceedings as follows:

  • Legal fee: £495 plus VAT
  • Court fees: £593 (current fees)
  • VAT payable at 20% where indicated

Hourly Rates:

For a non-routine divorce, and other family matters, such as financial matters/disclosure, injunctions and children’s arrangements we will charge the following hourly rates:

  • Richard Ronaldson (Managing Director and Senior Solicitor):                   £245
  • Sarah Denny (Director of Family Law & Solicitor):                                     £235
  • Robert Stronge (Senior Legal Executive):                                                  £225
  • Tracy Bunn (Trainee Legal Executive):                                                       £165
  • Kirstin Wright (Trainee Solicitor):                                                                 £145
  • Fallon Oldman (Trainee Paralegal):                                                             £100

VAT payable at 20%

As for most solicitors, our hourly rate is chargeable in six-minute units, amounting to ten units per hour.

Letters sent are charged at one unit, e.g. £21.50 or £20.50 plus VAT. Telephone calls of up to six minutes are charged as a telephone call (one unit), longer calls are charged as telephone attendances.