Fixed price charging:
In most instances we will be able to give you a fixed price for the work you wish us to undertake. Usually we will tell you at the start and will confirm the price to you in writing. We will also tell you when this amount must be paid which will depend on the kind of work we are doing. For example, in conveyancing work we will require you to pay our fees before completion and in the case of a Will we will expect our fees to be paid before the Will is signed.
Charging by time:
Where we are unable to offer you a fixed price for the work you wish us to carry out, we will tell you the hourly rate of the solicitor who will be carrying out the work on your behalf and, if possible, give you an estimate of the likely overall cost at the outset of the matter. It may only be possible to give you an estimate of our charges when we have spoken with you and understood the exact nature of the work you wish us to carry out but the basic hourly rate which applies to most types of work we undertake on the basis of charging by time is £200 per hour. VAT will be added to our charges at the prevailing rate. This is currently 20%. Depending on the matter there may be disbursements which are payments that we will arrange on your behalf but which must be paid for by you. Full details of our charging rate, our estimate of fixed quote and the timescale for payment of our fees will be set out in our engagement letter and in our terms of business and these will be notified to you before you instruct us. We will always be happy to give you as much information as we can about our costs and as regularly as you require.
Guidelines in Probate and Residential Conveyancing matters.
Please note that in every case and matter we will give you bespoke charging information prior to accepting your instructions. However, the following cost illustrations are given as guidelines. They do not constitute legally binding quotations and should be read in conjunction with the general charging information set out above.
Probate Uncontested with UK only assets.
To obtain a Grant of Probate and administer an uncontested estate made up of assets exclusively in the UK we will charge on a time basis. In our experience, our fees for completing an average Probate matter will be around £3,000.00 plus VAT and disbursements and the average duration will be approximately 6 months in the case of an estate where no tax is payable or 12 months in the case of a taxable estate. If we are instructed only to obtain a Grant or Probate but not to administer the estate our fees on average will be around £1,000.00 plus VAT and disbursements and the timescale will be around 3 months.
The basic steps which we will take in an average probate matter and their relative timescales are as follows: -
|Step||Typical timescale from instruction|
|Identifying and valuing the estate||2-3 months|
|Arranging payment of inheritance tax (in taxable estates)||3 months|
|Applying for the grant||3 months|
|Notification of grant and realisation of assets||4-5 months|
|Payment of liabilities and legacies||5-6 months|
|Distribution of Estate||6-8 months|
Residential Conveyancing: Non-Auction sales and purchases or re-mortgages.
We offer a fixed price service for carrying out conveyancing in residential property. This is a transfer of ownership of a House or a Flat from the current owner to its new owner. We are happy to act for you in both a sale and a purchase and also to act for your mortgage lender.
The basic fee we will charge for our services depends on the price of the property, whether you are selling or buying and whether the property is Freehold or Leasehold.
The following table sets out our basic charging structure, is for information purposes only and does not constitute a legally binding quotation. If necessary, we will provide you with a bespoke fee quotation on request.
The section below the table explains about disbursements and additional charges which may apply depending on the circumstances of the transaction. Please note VAT must be added to the basic prices listed in the table and to any additional charges which apply but not to disbursements which are shown inclusive of any VAT which is payable.
These guidelines do not apply to auction sales or purchases, or high value sales or purchases in excess of £750,000.00. Nor do they apply to new build properties. In all such cases we will provide you with a bespoke fee quotation once we have received details of the proposed transaction from you.
Our Legal Fees - Freehold Sales and Purchases
|Property Value||Our Fee|
|£0 - £350,000||£725 + VAT|
|£351,000 - £500,000||£775 + VAT|
|£501,000 - £750,000||£895 + VAT|
Our Legal Fees – Leasehold Sales and Purchases
|Property Value||Our Fee|
|£0 - £350,000||£775 + VAT|
|£351,000 - £500,000||£825 + VAT|
|£501,000 - £750,000||£975 + VAT|
We offer a fixed price fee for simple re-mortgages of £325.00 plus VAT. In addition there will be disbursements which are explained below. If a transfer of equity is required please contact us for a bespoke quote.
Disbursements are fees charged by third parties for which you are liable and we will calculate these for you when you ask us for a bespoke quotation. There are often very few if any disbursements on a Freehold sale but in other transactions there may be many disbursements. For instance, these could include Managing Agents fees, search fees, Stamp Duty Land Tax and Land Registry fees.
Additional charges cover a wide range of circumstances which may apply to a specific transaction and which we will have an impact on the level of work we need to carry out on your sale or purchase. We will notify you of any additional charges as soon as we are aware that they will apply which in most cases will be when we provide you with our fee quotation. These will often include a Bank telegraphic transfer fee of £30.00 plus VAT or £50.00 plus VAT for assisting with a Help to Buy ISA.
The Buying process
Buyer and Seller agree sale. The Estate Agents sends details to each parties Solicitor.
We send you a questionnaire, together with our costs estimate.
We receive the Contract Pack from the Seller's Solicitors, apply for searches and raise enquiries about the property with the Seller's Solicitors.
The Seller's Solicitors answer the questions about the property which we send to you together with reports on the results of the various searches.
Your Lender issues a Mortgage Offer (if applicable)
We arrange for you to sign the Contract, Mortgage Deed (if applicable) and SDLT form, pay the deposit and agree a Completion date with the Seller.
Contracts are Exchanged and Completion is fixed.
We request the mortgage money from your Lender and carry out final Searches.
If we have not previously done so we send you a Completion statement showing the money we require from you to complete your purchase.
You make arrangements for the Completion day.
On the Completion date, you are legally entitled to move in.
We receive the Transfer and any deeds from the Seller's Solicitors, pay the Stamp Duty Land Tax, deduct our fees and apply for registration of your ownership of the Property at the Land Registry.
You are now the legal owner. Your will should be updated to reflect your change in circumstances.
The Selling process
Buyer and Seller agree terms. The Seller's Estate Agent sends details to each Solicitor
We send you several Property Forms to complete about the property together with our cost estimate.
We apply for the title documentation and details of amount outstanding on any mortgage(s) (if applicable) on the Property.
When we have received the completed Property Forms from you, we prepare the Contract Pack, which includes the Property Forms, Title and Contract and send it to the Buyer's Solicitors.
The Buyer's Solicitors raise enquiries about the property which we will refer to you or answer from legal documents which we can obtain.
We arrange for you to sign the Contract and Transfer and with your approval agree a completion date with the Buyer
Contracts are exchanged and Completion is fixed. The Buyer pays the Deposit. We obtain details of the amount outstanding on any mortgage and any charges for the day of Completion.
You make arrangements to move our and to hand keys to the Agents.
On the day of completion, you move out and remove all items from the Property. We send you a Completion Statement including Legal Costs. We send the Transfer to the Buyer's Solicitors, pay the Estate Agents, pay off any mortgage(s) and/or charges, deduct our fees and send you the balance of the proceeds of sale.
You are no longer the legal owner. Your Will should be updated to reflect your change in circumstances.