Pricing.

Pricing.

Our fees are calculated in accordance with our Terms of Business, with reference to the time we spend on the services and on the level of skill and responsibility.

We will provide an Engagement Letter at the outset of the matter that sets out the services we will be providing, what we expect from you and provides an indication of how much it will cost, together with a copy of our standard Terms of Business. We are always happy to discuss this proposal if you have any queries, and you are under no obligation to instruct us to proceed.

If you choose to instruct us, we will complete the work as quickly and cost-effectively as possible, and keep you informed of our progress every step of the way.

The Solicitors Regulation Authority (SRA) requires law firms to publish pricing details for certain services. The following explains how we price these services. All our work is undertaken at a partner level and, where appropriate, with the assistance of one or more of our solicitors and or trainees – as specified in our Engagement Letter. We also provide indications of how long the work may take.

Please bear in mind that this guidance is based on typical circumstances, and situations with complex or unusual aspects may take longer to resolve. It’s always best to get in touch so we can discuss your situation and provide a bespoke cost proposal for the work.

If you want to know the price for another service, simply get in touch and we can provide a proposal that is tailored to your needs. If you prefer, we can also give you a rough indication of the cost based on typical circumstances.

For more information on the range of services we offer visit our Principal Areas of Work Page.

 

Conveyancing – Residential Purchases.

Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the HM Land Registry and dealing with the assessment and payment of standard and straightforward Stamp Duty Land Tax (SDLT) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

 

Freehold Residential Property.

Based on a freehold purchase of a residential property as a principal home, at a price of, say, £750,000, we anticipate that our fees and disbursements would be in the following sums, on the basis that matters proceed straightforwardly and without undue complication or delay in such transaction. If the transaction is for a higher or lower purchase price than that stated, then the fees and disbursements will vary, and in that event, please contact us for a quote tailored to your needs and circumstances.

Conveyancer's fees and disbursements:

 

Legal fee	£4,500
VAT payable on our fees	£900
Search fees	£500
HM Land Registry fee	£295
Electronic money transfer fee	£15
VAT payable on disbursements (approx.)	£60
Subtotal	£6,270

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

 

SDLT or Land Transaction Tax.

This depends on the purchase price of your property, and whether you are a first-time buyer, or if this is a principal home, or second home, or to let (investment). You can calculate the amount you will need to pay by using HMRC's website for SDLT or by using the Welsh Revenue Authority's website for Land Transaction Tax.

If, however, your transaction involves more complex SDLT or Land Transaction Tax elements, then you may need to obtain independent specialist accountancy or taxation advice.

For the above example, on the assumption that you are a first-time buyer, ordinarily resident in the UK, and the property would be your principal home/main residence, the estimated total for SDLT would be £25,000.

 

How long will my purchase take?

How long the process will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 8-10 weeks from our receipt of papers from the Seller’s solicitors.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 6 weeks. However, if you are buying a leasehold property with a share of the freehold, or involves shared services with service charges, this can take significantly longer, between 2 and 4 months. In such, a situation additional charges would apply.

 

Stages of the process.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

• 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 the seller's solicitor
• Give you advice on all documents and information received
• Go through the conditions of the mortgage offer with you
• Send the final contract to you for signature
• Agree completion date (i.e., the date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from the lender and you
• Complete the purchase
• Deal with payment of SDLT/Land Transaction Tax
• Deal with application for registration at HM Land Registry

 

Leasehold Residential Property.

Based on the purchase of an existing residential leasehold property, as a principal home, at say a price of £450,000, where the Landlord’s consent under the terms of the Lease is not required, and matters proceed straightforwardly and without undue complication or delay, our estimated fees and disbursements would be as set out below. If the transaction is for a higher or lower purchase price than that stated, the fees and disbursements will vary, and in that event, please contact us for a quote tailored to your needs and circumstances.

Conveyancer’s fees and disbursements

 

Legal fee	£4,500
VAT payable on our fees	£900
Fee for acting on behalf of the mortgage lender	£700
Search fees	£500
HM Land Registry fee	£150
Electronic money transfer fee	£15
VAT payable on disbursements (approx.)	£60
Subtotal	6,825

 

Disbursements are costs related to your matter that are payable to third parties, such as HM Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out above, but there may be further disbursements associated with registration of the transaction with the Landlord and these are set out below (exclusive of VAT). This list is not exhaustive and other disbursements may apply depending on the terms and provisions of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.

If your purchase is subject to mortgage finance and we are not on the mortgagee’s panel, then the mortgagee may wish to be separately represented. The disbursements will also include the mortgagee’s solicitor’s legal fees, which will usually be regulated by the mortgagee in question. You should refer to the mortgagee when finalising arrangements for the mortgage offer.

Anticipated Additional Disbursements for Leases – registration fees with the Landlord.

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £150 - £250 on each.
• Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £150 - £250.
• 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 £150 - £250.
• Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £150 - £250.

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 we receive this information.

 

SDLT or Land Transaction Tax.

This depends on the purchase price of your property and whether you are a first-time buyer, or if this is a principal home, or second home, or to let (investment). You can calculate the amount you will need to pay by using HMRC's website for SDLT or by using the Welsh Revenue Authority's website for Land Transaction Tax.

If, however, your transaction involves more complex SDLT or Land Transaction Tax elements, then you may need to obtain independent specialist accountancy or taxation advice.

 

How long will my purchase take?

How long the process will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 8-10 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first-time buyer, purchasing a new build property with a mortgage in principle, it could take 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 4 months. In such a situation, additional charges would apply. Our fee assumes that:

Our fee assumes that:

• this is a standard transaction and 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 complications arise
• all parties to the transaction are cooperative 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.

Stages of the process.

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that will be included:

• 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 the seller's solicitor
• Give you advice on all documents and information received (including outline terms on the Lease you will be acquiring)
• Go through the conditions of the mortgage offer
• Send the final contract to you for signature
• Draft the form Transfer
• Advise you on joint ownership
• Obtain pre-completion searches
• Agree a completion date (i.e., the date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from the lender and you
• Complete purchase
• Give Notice of Completion to the Landlord
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

We reserve the right to increase the hourly rates if the work done is particularly complex or urgent, or if the nature of your instructions requires us to work outside normal office hours. If this happens, we will notify you in advance and agree an appropriate rate.

We will review our hourly rates on a periodic basis. We will give you notice of any change to our hourly rates.

Our charges do not include VAT, which we will add to your bill at the prevailing rate.

 

Probate and Administration of Estates.

Applying for the grant, collecting and distributing the assets.

We anticipate this will take between 12 and 20 hours of work at £500 per hour. Total costs estimated at £6,000 - £10,000 (excl. of VAT & disbursements) (and excluding any additional costs on the sale of a property).

The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you. This quote is for estates where:

• There is a valid will
• There is no more than one property to be transferred to the beneficiaries
• There are no more than 3 bank or building society accounts
• There are no other intangible assets
• There are 2-4 beneficiaries
• There are no disputes between beneficiaries on the division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
• There are no claims made against the estate

Disbursements included in this fee:

• Probate application fee: £300 (subject to variation)
• Swearing of the oath (per executor): £10
• Bankruptcy-only Land Charges Department searches (per beneficiary): £2
• Post in The London Gazette and/or post in a Local Newspaper (per advertisement depending on the publication):  £240 - £300 (This also helps to protect against unexpected claims or unknown creditors)

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.

Potential Additional Fees.

• If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
• If any additional copies of the grant are required, they will cost £1.50 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
• In addition to the above will be any tax payments such as inheritance tax, income tax and capital gains tax which will have to be assessed and determined depending on the circumstances of each case, and for large value estates requiring a detailed account to be made to HMRC, then additional fees will be incurred.

 

How long will this take?

On average, estates that fall within this range are dealt with within 8-12 months. Typically, obtaining the grant of probate takes 2-4 months. Collecting assets then follows, which can take between 4-6 months thereafter. Once this has been done, we can distribute the assets, which normally takes a further 2-4 months depending on the nature of the asset or property involved. As part of our fee, we will:

• Provide you with a dedicated and experienced probate solicitor to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Accurately identify the type of Probate application you will require
• 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 two copies to you
• Collect and distribute all assets in the estate

 

Licensing Applications in Relation to Businesses

We anticipate this will take between 12 and 17 hours of work at £500 per hour for a simple application. Total costs estimated at approx. £7,500.00 (excl. of VAT & disbursements). The exact cost will depend on the individual circumstances of the matter and the complexity of the application in question.

 

Disbursements.

Disbursements are costs related to your matter that are payable to third parties, such as the application fee. We will pay the disbursements on your behalf to ensure a smoother process.

These fees vary depending on the individual premises and where it is located. We will give you an accurate figure for each item as soon as we are able to do so. Our fee includes:

• Taking your instructions and advising you as to how you can promote the licensing objectives within your application
• Advising you as to the type of plans you are required to submit with your application.
• Completing the application form for a new premises licence (including the operating schedule) in accordance with your instructions and submitting this to the local licensing authority alongside suitable plans. You must provide suitable plans.
• Providing guidance on the fee levels payable to the licensing authority.
• Preparing copies of the premises licence application for disclosure to the responsible authorities and serving copies of the application on the responsible authorities.
• Drafting the notices advertising the premises licence application and submitting the notice to the local newspaper.
• Arranging with you for you to display the notice(s) advertising the premises licence application and advising as to where and how this should be done by you in order to comply with the requirements of the Licensing Act 2003.
• Providing a Designated Premises Supervisor (DPS) consent form for signature by a personal licence holder proposed by yourself.
• Checking the licence once granted and correcting any errors with the licensing authority.

The fee does not include:

• obtaining suitable plans
• attending pre-consultation meetings with the Licensing Authority or Responsible Authorities, nor their fee for this meeting.
• dealing with or advising you in relation to queries or representations received from either the responsible authorities or other interested parties
• advising on varying the licence
• attendance and representation at a licensing sub-committee hearing of the responsible authority. If representations are received and attendance and representation at a licensing sub-committee is required then we will provide a separate fee estimate for this work which will be charged at an hourly rate.

 

How long will my application take?

Matters usually take 12-15 weeks from receipt of full instructions from you. This is on the basis of the application being relatively straightforward and you being able to provide all the necessary documents promptly. If your matter is more complex, for example, if there is substantial opposition from interested parties, or if there is a delay in receiving the documents we need, it may take longer.