Pricing Policy

Conveyancing – Costs
With any transaction we understand that you will be working to budgets. We will outline our estimated fees from the outset of your matter in the form of written estimate. We never ask for our fees to be paid in advance. However, most transactions incur out-of-pocket expenses (disbursements) such as search fees.  The search providers insist they are paid in advance.  This is why we ask you to provide payment in advance to cover our estimated cost of those disbursements.  Our written estimate will be specific to your transaction and personal circumstances:

• Domestic or Commercial
• Freehold or Leasehold
• With additional factors, such as a mortgage and whether there are separate agreements, such as Options to Purchase or a Management Company whose consent is required.

The following indicative table shows a range of our typical fees based on the Property sale/purchase price for a domestic property. Where your estimate fits within the following ranges will depend on the individual complexities of your transaction. Our price, when provided to you in writing, covers all of our fees to complete your transaction. There are NO hidden fees or extras (such as acting for a Mortgage Company or multiple Clients).

Below is a guide for taking a transaction from negotiation to completion. On occasion there may be disbursements that become payable (such as an Indemnity Policy or Service Charge on a Leasehold property) that we would be unaware of at the outset of a matter. In that circumstance we would always advise you of the extra disbursement in advance of incurring that expense.

Our fees on Residential Sales or Purchases

In addition to our standard fees, which are our fees for completing the legal work on your behalf, the following typical disbursements (out of pocket expenses) may be incurred during your transaction:

Disbursements (including VAT where applicable) on a typical sale:

Disbursements (including VAT where applicable) on a typical purchase or remortgage:

Proof of your identity, residential address and source of funds

Prior to our undertaking any transactional work we are under a legal duty to verify your identity and your residential address before we can proceed with your instructions. In order to address this legal duty, we utilise the services of a third-party verification company for which the following charges will be applicable:£5.95 (including VAT) per instructing client.

Bank Transfer fees

During the course of your transaction, we may have to send money electronically to third parties.   Normal examples include sending the purchase monies to the Seller’s Solicitor; paying off your mortgage or sending the net proceeds of sale to you. Each electronic transfer costs £47 which represents the following per transaction.

What is not included in our fees?

The above fee scales are to conduct the conveyancing for the transaction listed. If matters arise that need extra work, then we would advise you in advance. Typical examples include: Rectifying your Title – errors at the Land Registry that need to be resolved, or a Deed of Variation for a Defective Lease, would be extra and be quoted on a fixed fee based on the nature of the work involved. Lease Extensions – the preparation and completion of an extension of time on a Lease would attract an extra fixed fee which would be quoted on the basis of the work required. Resolving disputes – with a neighbour or Landlord would be extra service and charged at £200+VAT @ 20% (£240) per hour.

What if my transaction doesn’t complete?

On occasion property transactions do not proceed to completion. This may be because you have a change of mind, or factors outside of your control, or problems with the property. On these rare occasions we charge abortive costs at a reduced fixed rate on the following basis:

Lasting Powers of Attorney

Our Costs

We charge £300.00 plus VAT of £60.00 being a total of £360.00 to register an EPA, and £350.00 plus VAT of £70.00 being a total of £420.00 to register an LPA. Court fees will be incurred in addition to our fees. At present the fee for registration of an EPA is £92 and registration of an LPA £92. These costs and fees are per application.

Probate

Our costs

Our costs may vary depending on the size and complexity of dealing with a particular Estate.  Our estimates when given are indicative.  We will not see the true extent of the work until we start, although we would be reluctant to change our estimate.  We are as a Practice experienced and professional in the preparation of landed and agricultural estates, The Grant of Probate application requires additional time usually after negotiations with HMRC.   Our minimum charge for a simple estate is £3,500 + VAT & disbursements, should an IHT form be required for the Estate the minimum charge will be £4,000 + VAT & disbursements. We will set our cost rate by agreement with the Personal Representative at the outset of the matter. The fixed fee we will quote you at the outset of the matter will take into account factors including: nature of assets (land/bank accounts/shares etc); the amount of different assets; foreign assets; the requirement for Inheritance Tax Returns; number of beneficiaries etc, not an exhaustive list as these are all matters that we undertake on your behalf. To assist you in budgeting and understanding our fees, our fixed fees for a full Probate Service (quoted on a case by case basis) will typically be:

Full Probate Service (notifying institutions, obtaining valuations, completion of Inheritance Tax forms and Probate Application, collecting assets, discharging liabilities and distributing the net estate)

Minimum Charge – £3,500 + VAT @ 20% (£4,200) plus disbursements (see below), with IHT form £4,000 + VAT @ 20% (£4,800) plus disbursements (see below)

Where the Firm is NOT the Executor – typically 1.5% of the gross value of the Estate + VAT @ 20% and disbursements (for example a £500,000 estate would be £7,500+VAT (£9,000) plus disbursements)

Where the Firm IS the Executor – typically 1.75% of the gross value of the Estate + VAT @ 20% and disbursements (for example a £500,000 estate would be £8,750 + VAT (£10,500) plus disbursements)

Disbursements

These are expenses that we pay on your behalf but do not form part of our fees. Disbursements, as they are not our fees, do not attract VAT. You will however find them deducted from monies we hold during the Probate process. Typical Probate Disbursements include: Probate Court Fee: £300 (plus court sealed copies of the Grant of Representation @£16.00 per copy). Certainty Will Search (optional): £126 and £58.50 to check if there is a Will Trustee Act Notices in newspapers (optional): £250 (estimated). Bankruptcy Searches: £6 per beneficiary. Land Registry Fees – dependant on nature of transaction and value of Property.

What is not included?

The above fee scales are guidance in relation to the administration of the estate. Where extra costs are likely to be incurred, we would always advise you before they can become payable. You would have the opportunity to discuss with your Lawyer first. Typical examples of Legal work that are not included in the above quotes are: Electronic Transfers of large sums of money (typically £25+VAT @20% plus the Bank Fee of £17 (no VAT) totalling £47 per transfer), Acting for you defending a Claim brought against the Estate – this is separate legal work to be provided by a Litigator Varying the Will – this would be charged as a separate fee (typically £450+VAT @20%= £540), Conveyancing Services for the Sale of any Property in the estate (see our Conveyancing page for fee scales).

Wills and Tax Planning

The cost of making a will with us

We believe that we can offer you a service which is value for money. We charge £350 + VAT @ 20% (£420) for a single Will and £600.00 +VAT @20% (£720) for mirror image Wills (for example, Husband and Wife, Partner or Civil Partner). If you require detailed Inheritance Tax advice, or trust drafting, we may charge you in addition for such advice. It is our practice to let you know the cost of our advice at our initial meeting and to confirm the same in writing.

Inheritance Tax

Your Personal Representatives (Executors or next of kin) are responsible for finding out if Inheritance Tax is due as a result of a person’s death, and personally responsible to make sure that it is paid. Whether Inheritance Tax needs to be paid can depend on (amongst other factors):

• How much the property and belongings of the Deceased were worth when they died
• The value of any gifts they gave before they died, when the gifts were made, and to whom they gave these gifts
• The value of certain trusts from which the Deceased benefited
• Which people benefit under the Will or under the rules of intestacy (the Beneficiaries)

We would like to use our expertise and experience to help you deal with the above. In some cases, simple adjustments to how an Estate is administered can result in significant savings which can run into thousands of pounds.

Our Costs

Our costs may vary depending on the nature of the work undertaken. Basic Tax Planning and Advice would be included in the costs above for Will drafting. If your Tax Planning needs are more complex then further costs would be incurred, usually at an hourly rate. We would let you know our likely costs at our initial meeting and confirm the same in writing. There may also be additional fixed charges that we have to make if your instructions require us to undertake additional services. These additional fixed charges will be discussed with you before undertaking the work.  The table below details some of those additional fixed charges: