Approachable affordable and efficient
Approachable affordable and efficient

Our Costs

 

 Below is a general guide to our charges. If you require a personalised quotation please contact us by   telephone, email or use the “Contact Us” form on the website.

 

 FREEHOLD PROPERTIES

                                                            SALE                                     PURCHASE

 

Up to  £400,000                                      £850 plus VAT                           £900 plus VAT

Up to  £600,000                                      £900 plus VAT                           £925 plus VAT

 Up to £800,000                                      £950 plus VAT                           £950 plus VAT

 Up to £1,000,000                                   £1,000 plus VAT                        £1,100 plus VAT

 Up to £5,000,000                                   0.15% plus VAT                         0.15% plus VAT

 

 LEASEHOLD PROPERTIES

                                                                                               

 

Purchases and Sales up to £5,000,000 please add £150 plus VAT to the above fees.

 

 

  

DISBURSEMENTS – FREEHOLD

 For a sale the disbursements are as follows:-

 1. Office copy entries @ £6.00 per title

 2. A telegraphic Transfer fee if there is a mortgage to be redeemed - £25.00 plus VAT.

 3. A telegraphic transfer fee if we are sending the sale proceeds to you on the day of completion -   £25.00 plus VAT.

 For a purchase the disbursements are as follows:-

 1. A local authority search with the local council. As a guide this is currently £182 for South   Oxfordshire, £115 for Wycombe District Council, £125 for Reading, £110 for West Berkshire and   £133.72 for Wokingham.

 2. A drainage search and an All in One environmental search at a cost of £175.37 - these searches are   optional but are advised when purchasing a property and will be a requirement of most mortgage   companies.

 3. A Land Registry search - £3.00

 4. A Bankruptcy Search - £2.00 per person.

 5. A telegraphic Transfer fee to send the purchase monies on the day of completion to the Seller’s solicitors - £25.00 plus VAT.

 6. Land Registry registration fee as follows:-

 Amount or value

Wholly Electronic Fee

All Other Fee

 £0 - £80,000

£20

£40

 £80,001 - £100,000

£40

£80

 £100,001 - £200,000

£95

£190

 £200,001 - £500,000

£135

£270

 £500,001 - £1,000,000

£270

£540

 £1,000,001 and over

£455

£910

 

 7. Residential Stamp Duty Land Tax

 

Purchase Price/lease premium or transfer value                       SDLT rate

 

 Up to £125,000                                                                             0%

 Over £125,000 to £250,000                                                          2%

 Over £250,000 to £925,000                                                          5%

 Over £925,000 to £1.5 million                                                    10%

 Over £1.5 million                                                                        12%

 Certain purchases over £500,000 including corporate bodies    15%

 

 Rates if you’re buying your first home

 

 You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from  £300,001 to £500,000.

 

 You are eligible if:

 

  1. you, and anyone else you’re buying with, are first-time buyers
  2. you complete your purchase on or after 22 November 2017

 

 If the price is over £500,000, you follow the rules for people who’ve bought a home before.

 

 Rates on additional properties

 

 Purchase price                                                                        Rate

 

 Up to £125,000                                                                             3%

 Over £125,000 to £250,000                                                          5%

 Over £250,000 to £925,000                                                          8%

 Over £925,000 to £1.5 million                                                    13%

 Over £1.5 million                                                                        15%

 

 DISBURSEMENTS – ADDITIONAL


 On a leasehold sale there will be a fee payable to the Landlord and/or Management Company to   provide their answers to the purchasing solicitor’s questionnaire but we will not know what this fee   is until we contact them.


 On a leasehold purchase there will be a registration fee payable to the Landlord and/or Management   Company to register your ownership of the property with them.

 Mortgages - our fees quoted above include acting for your new mortgage lender but if a third party   solicitor is instructed to act for your mortgage company then an additional fee will be charged by the   third party solicitors which is usually deducted from the mortgage advance.


 IMPORTANT INFORMATION


  We reserve the right to review the above fees if a matter becomes complicated. This would always be   discussed with you in advance.

 

PLEASE NOTE THAT OUR FEES ARE INCLUSIVE AND WE DO NOT MAKE A SEPARATE CHARGE FOR COMPLETING LAND TRANSACTION RETURNS, ACTING FOR MORTGAGE COMPANIES IF WE ARE ON THEIR PANEL AND OBTAINING INDEMNITY POLICIES. SOME COMPANIES CHARGE AN ADDITIONAL FEE FOR THESE MATTERS AND THEREFORE THEY NEED TO BE ADDED IN TO OBTAIN THE FULL FEE BEING CHARGED.

 

IF YOU OBTAIN A LOWER QUOTATION FROM ANOTHER COMPANY PLEASE FEEL FREE TO EMAIL THIS TO US FOR DISCUSSION. 

 

 

 ADDITIONAL SERVICES

 

 REMORTGAGES                                                                           £700.00 Plus VAT

EQUITY RELEASE                                                                        £650.00 Plus VAT

 TRANSFER OF EQUITY                                                              £650.00 Plus VAT

 TRANSFER OF EQUITY WITH REMORTGAGE                      £900.00 Plus VAT

 WILLS                                            Single                                       £300.00 Plus VAT

                                                        Mirror                                       £400.00 Plus VAT

 EXECUTORS OATHS                £5.00 per person plus £2.00 for each additional 

                                                      document

STATUTORY DECLARATION  £5.00 per person plus £2.00 for each additional

                                                      document

 

EQUITY RELEASE WITNESSING                                            £85.00 Plus VAT

CERTIFY ID OR OTHER DOCUMENT                                     £10.00 per document

CERTIFY LPA'S                                                                           £15.00 per LPA

ID1 FORMS FOR THE LAND REGISTRY                                £30.00 per form

 

Powers of Attorney

 

 Property and Financial Matters and                                                        

 Health and Welfare - per person                                                 £600.00 Plus VAT      
 


 

OUR PROBATE COSTS 2019

 

 

 

We do not act in respect of any disputed matter or in respect of an Estate with overseas property or assets.

 

 

 

Simple Estates

 

 

 

Those under the Inheritance Tax level and which can be dealt with under the Return of Estates Information Form.

 

 

 

Applying for the Grant, collecting and distributing the assets.

 

 

 

We anticipate this will take between 10 and 15 hours work at £200.00 per hour.

 

 

 

Total Costs Estimated between £2,000.00 and £3,000.00.

 

 

 

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 and may be less as we only charge for the work we carry out.  We do not charge a percentage of the Estate.  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 1 property.

 

·                There are no more than x bank or building society accounts.

 

·                There are no other intangible assets.

 

·                There are between 2 - 4 beneficiaries.

 

·                There are no disputes between beneficiaries on 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 In Addition To Our Fee Above:

 

 

 

Probate Application fee of                                            £155.00

 

Fee for additional copies of the Grant                               £0.50

 

Swearing of the Oath (per Executor)                                £7.00

 

 

 

Potential Additional Costs:

 

 

 

·                If there is no Will or the estate consists of any shareholdings (stocks and bonds) there are likely to be additional costs such as obtaining a valuation.

 

·                Dealing with the sale or transfer of any property in the estate is not included.

 

 

 

How long will this take?

 

 

 

On average, estates that fall within this range are dealt with within 6 months provided all the financial information is available.  Typically, obtaining the Grant of Probate takes 2 - 3 weeks once the application is lodged with the Registry.  Collecting assets then follows, which can take between 3 - 6 weeks depending on the Institutions who are asked to release funds.  Once this has been done, we can distribute the assets, which normally takes 3 – 6 weeks.

 

 

 

More Complicated Estates

 

 

 

Those estates over the Inheritance Tax Threshold and which require an Inheritance Tax payment and the completion of forms IHT400.

 

 

 

These forms can be lengthy as a form must be completed for each asset, eg. a property; bank accounts, etc.

 

 

 

We anticipate that between 15 to 40 hours work is required at £200.00 per hour.

 

 

 

Total costs would be anticipated at between £3,000.00 to £8,000.00.  However, we do only charge for the work we carry out on your behalf and we do not charge a percentage of the estate.

 

 

 

Disbursements

 

 

 

These are the same as for a simple estate but there may be additional fees for the valuation of properties and shares etc.

 

 

 

Any charges for selling or transferring a property will charged separately.

 

 

 

How long will this take?

 

 

 

On average, estates that fall within this range are dealt with within 6 - 9 months.  However, we send the forms to the Revenue and we do not have any control over how long they take to deal with the matter and respond by returning the form needed to accompany the Oath when applying for the Grant.

 

 

 

Typically, obtaining the Grant of Probate takes 2 -3 weeks once the application is lodged with the Registry.  Collecting assets then follows, which can take between 4 - 6 weeks.  Once this has been done, we can distribute the assets, which normally takes 2 - 3 weeks.

 

 

 

 

Contact us

McQueen Turner Solicitors
8 Station Road
Henley on Thames
Oxon RG9 1AY
 
Tel: 01491 572699
 
Fax: 01491 577472
 
Email: info@mcqueenturner.com
 
Our Office Hours are:-
 
9am - 5pm Monday to Friday
Closed between 1pm - 2pm

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McQueen Turner Solicitors is a trading name of McQueen Turner Limited - Company Number 7967835.