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
Value up to £600,000 £950.00 £975.00
Value up to £800,000 £975.00 £1,000.00
Value up to £1,000,000 £1,000.00 £1,100.00
Value up to £1,500,000 £1,250.00 £1,275.00
Value up to £2,000,000 £1,500.00 £1,650.00
Value up to £2,500,000 £1,800.00 £1,900.00
Value up to £3,000,000 £2,000.00 £2,250.00
Value up to £3,500,000 £2,250.00 £2,500.00
Value up to £4,000,000 £2,750.00 £3,000.00
Over £4 Million On application On application
LEASEHOLD PROPERTIES OR ANY PROPERTY WITH MANAGEMENT COMPANY INVOLVEMENT
Up to £5,000,000.00 £200.00 plus VAT £200.00 plus VAT
The above costs will have VAT added at the current rate of 20%
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 - £35.00 plus VAT.
3. A telegraphic transfer fee if we are sending the sale proceeds to you on the day of completion - £35.00 plus VAT.
4. An online AML search for each party involved in the transaction at a cost of £7.20 per person.
For a purchase the disbursements are as follows:-
1. A local authority search with the local council. As a guide these are in the region of £200 but they vary from Council to Council.
2. A drainage search and an All in One environmental search - 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. An online AML search for each party involved in the transaction at a cost of £7.20 per person.
6. A telegraphic Transfer fee to send the purchase monies on the day of completion to the Seller’s solicitors - £35.00 plus VAT.
7. Land Registry registration fee as follows:-
Amount or value
Wholly Electronic Fee
All Other Fee
£0 - £80,000
£80,001 - £100,000
£100,001 - £200,000
£200,001 - £500,000
£500,001 - £1,000,000
£1,000,001 and over
8. 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:
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.
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.
REMORTGAGES £750.00 plus VAT
EQUITY RELEASE £700.00 plus VAT
TRANSFER OF EQUITY £725.00 plus VAT
TRANSFER OF EQUITY WITH REMORTGAGE £950.00 plus VAT
WILLS Single £325.00 plus VAT
Mirror £425.00 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
CERTIFY ID OR OTHER DOCUMENT £10.00 per document
CERTIFY LPA’s £20.00 per LPA and copy
ID1 FORMS FOR THE LAND REGISTRY £60.00 per form
Powers of Attorney
Property and Financial Matters and
Health and Welfare - per person
£625.00 Plus VAT or £1,000 Plus
VAT for a couple
OUR PROBATE COSTS 2020
We do not act in respect of any disputed matter or in respect of an Estate with overseas property or assets.
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 £110.00 per hour.
Total Costs Estimated between £1,100.00 and £1,650.00.
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 2 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
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 6-8 weeks once the application is lodged with the Registry. Collecting assets then follows, which can take between 6-9 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 £110.00 per hour.
Total costs would be anticipated at between £1,650.00 to £4,400.00. However, we do only charge for the work we carry out on your behalf and we do not charge a percentage of the estate.
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 9-12 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 6-8 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.