Price and Service Transparency
Residential Conveyancing fees
When it comes to conveyancing many clients believe that a fixed price can be given for a ‘straightforward transaction’ however, this is not always the case as there are many fees and costs which can arise making each case as unique as the property/land in question.
Below is a table setting out an indication of our average legal fees for straight forward freehold residential sales and purchases. These fees are based on the value of the property. As every property transaction is different please give us a ring or send us an email so that we can let you have specific quotes for your particular circumstances. If the land/property is of a commercial or agricultural nature, please call us for more information.
Average Approximate Legal Fees for Freehold Residential Properties –
| Sale | Purchase | |
| Up to £100,000 | 695-725 | 725-795 |
| £100,001 – £150,000 | 695-750 | 725-825 |
| £150,001 – £200,000 | 750-825 | 775-925 |
| £200,001 – £250,000 | 795-895 | 825-975 |
| £250,001 – £350,000 | 850-925 | 925-1075 |
| £350,001 – £500,000 | 995-1095 | 995-1125 |
| £500,001 – £700,000 | 1095-1250 | 1095-1295 |
| £700,000 – £900,000 | 1250-1750 | 1250-2500 |
| £900,001 – £1,000,000 | 1500-2500 | 2500+ |
- All the fees shown above are subject to VAT at the prevailing rate.
- Abortive fees may be charged for transactions that do not proceed unless we have specifically stated otherwise in our initial paperwork to you.
- For any properties over £1m please note that a bespoke estimate of costs will be required.
In addition to these fees we may apply further charges depending on the complexity of the transaction and any extra work involved. For example, if the property is unregistered, leasehold, new build or shared ownership then it will require extra work and a further fee may be applicable.
You may also wish to instruct us to deal with a Declaration of Trust or a lease variation which again will attract further fees. When we are fully aware of the nature of the transaction, we will be able to provide a full, detailed quote.
To obtain an accurate conveyancing quotation bespoke to your transaction, please call us on 01460 494100
Remortgages
Our fees to act on a standard remortgage are £650 + VAT.
As with sale and purchase transactions it may be necessary to apply further fees if the matter is complex, dealing with more than one lender, removal or addition of a property owner etc
Disbursements
In addition to our fees for conducting the legal work there are payments that you will have to pay, and these should be the same or similar whoever conducts your conveyancing.
These are often known as Disbursements but in plain English these are payments that have to be made to third parties to fulfill the requirements for transferring land and/or property.
They include payments for –
Stamp Duty (SDLT or Welsh Land Transaction Tax depending on the location of the property). Always remember the tax you pay is self-assessment and we are not tax lawyers and cannot advise. To be sure that you pay the correct amount of tax you should consider taking specialist independent tax advice before committing to any purchase. Please click here to be taken to the basic HMRC web site calculator or here for the Welsh Land Transaction Tax Calculator.
Searches (of the local authority, mining searches, drainage searches, land registry searches, environment searches, area development searches and many more). You should budget between £200 and 350 plus VAT for searches depending on location and number and types of searches required
Land registry fees payable – again these depend on the type of property its value and whether an electronic submission can be made.
Conveyancing Timescales
It is understandable that all parties to a conveyancing transaction would like to know how long the transaction will take, unfortunately this is the one area we cannot give assurances on.
The average transaction time according to the government has lengthened (due to more vigorous requirements for anti-fraud investigations, money laundering checks and other things such as changes to mortgage regulation etc.) with 12-16 weeks now being the average across England and Wales. We find the majority of matters can proceed quicker than this and we will always try and do our best to meet a client’s requirements but please note that this is often not within our control and so no firm commitments should be made in regard to timescales unless and until you have reached exchange of contracts.
Referral fees
It is very rare that we will agree to pay referral fees to third parties, such as estate agents’ panels and mortgage brokers, for the introduction of your business. If such a fee applies to your transaction this will be fully disclosed to you in our formal quote and initial paperwork before you are committed to the transaction.
To obtain an accurate conveyancing quotation bespoke to your transaction, please call us on 01460 494100
Probate fees
We can cover as much or as little of the administration of an estate as you require. We do not insist on taking over the entire administration but are happy to provide a full administration service if required.
Grant only service
This includes ensuring the appropriate application is made, including completion of the appropriate inheritance tax return and statement of truth required to apply for the grant based on information you have provided. We will store the original grant free of charge and provide sealed copies to the personal representatives so that they may complete the administration of the estate.
Our minimum fee for obtaining a Grant of Probate/Letters of Administration is from £600 plus VAT for a simple estate requiring an IHT205.
Full estate administration service
A dedicated and experienced probate lawyer to work on your matter;
Identifying the legally appointed executors or administrators and beneficiaries;
Identifying the type of probate application required and obtaining the relevant documents to make the application;
Applying to the relevant asset holders for date of death values, income statements and valuations of property/assets.
Assessment of Inheritance Tax reliefs and allowances and calculation of tax due.
Completion of the relevant HM Revenue & Customs forms and drafting a statement of truth for the personal representative/s to sign;
Making the application and ensuring the appropriate grant of administration is obtained;
All assets made known to us are gathered in and liabilities, including tax, discharged;
The net estate is distributed in accordance with the law; and
Estate accounts are prepared and approved by you to conclude the administration;
Dealing with tax returns for the administration period;
Tax certificates are prepared where appropriate for beneficiaries’ personal tax records.
Our charges are based on time spent and not the value of the estate. We believe this is a fairer charging system and ensures you only pay for the work that is actually needed. The exact cost will depend on the individual circumstances of the matter. Estates with few assets and a single beneficiary will be at the lower end of the fee scale whereas estates with many assets or many beneficiaries, particularly if any residuary beneficiaries are charities, will mean costs will be higher. We will never charge a value element. We will provide you with an estimate based on the information given at the outset. Our hourly rates is currently set between £ and £200 (plus VAT) depending on qualification.
We would anticipate costs for the full service will be between £3,000 and £6,000
plus VAT based on the following assumptions:
There is a valid will
There is no more than one UK property
There are no more than five bank or building society accounts
There are no other intangible assets
There are no more than five beneficiaries
There are no disputes between executors or beneficiaries.
There is no inheritance tax payable and the executors do not need to submit a full account to HM Revenue & Customs
There are no claims against the estate
All assets are UK based
Disbursements
In addition to our fees for conducting the legal work there are payments that you will have to pay, and these should be the same or similar whoever carries out the legal work.
These are often known as Disbursements but in plain English these are payments that have to be made to third parties. These can vary depending on the assets but the following are an example:
Court fees for obtaining a Grant of Probate/Letters of Administration: £155 + £1.50 for each additional sealed office copy and sealed copy will. Please note there are plans to raise this fee to a sliding scale based on the value of the estate ranging from £0 to £6,000.
Statutory advertisements (protects against unknown creditors): £150 to £200 + VAT based on The London Gazette and one local newspaper.
Bankruptcy searches: £2 plus VAT per beneficiary.
Potential additional costs
The following are likely to lead to additional costs, which will vary depending on the estate. We can provide an accurate quote once we have full information:
If there is no will.
If beneficiaries need to be traced.
If there are additional assets, such as many small shareholdings or property abroad.
Dealing with the sale or transfer of any property.
Preparing tax returns for the period to the date of death.
How long will this take?
The average estate takes 1 year from date of death to complete winding up. The simpler estates often take less time than this. Obtaining the grant currently takes 12 weeks from when the application is submitted. Collecting the assets can take between 2 to 6 weeks once the grant is received.
To obtain an accurate quotation bespoke to your needs, please call us on 01460 494100