Our fees for acting in the sale or purchase of a residential property range from £500 to £3500 plus vat for all property purchases up to the value of £500,000. All of our estimated fess are on a fixed fee basis and they are specifically tailored to the property that you are selling or buying based on the value of the property and the complexity involved in the transaction.
In addition to this there will be the following fees and this will be included as part of the estimate we provide to all of our clients on their initial enquiry:
- Search fees approximately £130 to £250
- Land Registration Fees £20 to £540 (based on property value)
- Stamp Duty Land Tax or Welsh Land Tax on purchase depending on the value and we will provide you with a figure for this tax on your initial enquiry.
Fees are quoted on the information provided by you at the time of giving the estimate. If there is additional or unforeseen work that transpires later in the transaction we will agree a separate fee for such work before undertaking the same and those fees will be in line with the ranges stated above.
Sale – here is a summery of what we will undertake:
- Taking instructions and providing initial advice.
- Obtaining a copy of the Land Register/reviewing Title Deeds (if the property is unregistered).
- Prepare contract papers.
- Take instructions and reply to pre contract enquiries.
- Reply to completion information and undertakings and approve a draft Transfer.
- Obtain a redemption figure for your mortgage and redeem the same on completion.
- Proceed to exchange of contracts and completion.
- Transfer any remaining sale proceeds to your account on completion.
Purchase – here is a summery of what we will undertake:
- Taking instructions and provide initial advice.
- Undertake pre contract searches.
- Review Land Register/Title Deeds and report to you on right sand covenants affecting the property.
- Raise pre contract enquiries.
- Prepare a draft transfer and raise completion information and undertakings.
- Report to you on pre contract searches.
- Report to you on mortgage offers (if any).
- Exchange contracts and complete.
- File Stamp Duty/Welsh Land Tax Return and settle any taxation due.
- Register the property in your name at the Land Registry (this includes registration of any charges if you are obtaining a mortgage).
Residential conveyancing sales and purchases typically take between 6 and 10 weeks. We aim to ensure that you can move house as swiftly as possible and we will provide you with regular updates throughout the course of the purchase on realistic timescales for concluding the transaction.
If you are purchasing a leasehold property then additional charges will apply due to the complexity involved in the transaction.
Typically we will add between £200 to £800 + Vat on leasehold properties up to a value of £500 in addition to the range of figures quoted above for dealing with the transaction.
There is also likely to be additional fees applied by a Landlord in respect of the leasehold property in respect of giving notice of the assignment of the Lease to you, notices of any mortgages and where necessary entering into a Deed of Covenant. We will provide you with details of those fees when they are obtained from the Landlord at the time of transaction so that you have notice in advance.
Depending on the value of the estate and the complexity involved, our fees range from £1500 to £10,000 for estates with a value up to £250,000 plus 1-1.5% of the value of the estate based on time spent. This fee includes:
- Reviewing the estate with you, collecting information about the deceased assets and liabilities.
- Obtaining valuations of the assets on the estate including freehold and leasehold property, shares, bank accounts, bonds and investment portfolios.
- Reviewing the Will or where the person has died without leaving a Will, considering those beneficiaries entitled as next of kin to inherit from the estate.
- Placing Section 27 Trustee Act 1925 Notices.
- Preparing inheritance tax accounts required by HMRC and undertaking IHT calculations.
- Preparing Oath of Executors/Oath of Administrators.
- Obtaining Grants of Probate/Letters of Administration.
- Collecting all assets in the estate and settling liabilities.
- Distributing specific and cash legacies on the estate.
- Obtaining a HMRC Clearance Certificate if necessary.
- Preparing estate accounts for the Executors/Administrators to approve and distributing the residue of the estate.
Administration of estates typically take between 6 and 12 months depending on the circumstances and complexity of the assets and liabilities including the complexity of the inheritance tax calculation (and the time it takes HMRC to respond). If the administration of the estate is likely to exceed this timescale then we will advise you in good time and explain the cause of the requirement for additional time to conclude the administration of the estate.
There will also be additional fees for swearing Oath of Executors/Oath of Administrators between £5 and £11 per Executor/Administrator.
Probate applications are charged at a fee of £155 if the estate is worth over £5000. If inheritance tax is payable on the estate this is charged at a rate of 40% on the net estate after deduction of any tax relief and allowances and we can provide you with specific advice on the amount due when valuations of all assets and liabilities have been collected.
Statutory advertisements for creditors range between £200 to £400 + Vat (if applicable).
All work will be undertaken by or under the supervision of a solicitor with over 10 years post qualification experience.
Vat on all costs quoted is charges at a rate of 20%.