Residential conveyancing
The information given below is general and more precise and personalised information will be given in the client engagement and care letter. Please note that if your personal circumstances change or your sale/purchase is a result of relationship breakdown then an additional fee may be added to reflect the additional administraton necessary.
VAT is currently 20%. This is subject to change by HM Treasury.
Residential property purchases
The details of our fees are a guide for a standard transaction. This will cover the work required to complete your purchase, pay any stamp duty land tax and register your title at the Land Registry. Additional fees may be payable for non standard transactions such as purchase of part of a property, purchase at auction or a newbuild.
For freehold purchases up to £250,000 a fixed fee of £1300 plus VAT @ 20% = £1560
Between £250,001 and £400,000 a fixed fee of £1400 plus VAT @ 20% = £1680
Between £400,001 and £700,000 a fixed fee of £1500 plus VAT @ 20% = £1800
Over £700,000 a fixed fee of 0.25% of the value of the property plus VAT @ 20%
For leasehold purchases up to a value of £125,000 an additional £450 plus VAT @ 20% will be added to the above fees and for leasehold purchases over £125,000 an additional fee of £850 plus VAT @ 20% will be added to the above fees.
The above fees do not include disbursements. The most common disbursements are as follows:-
Anti money laundering fees £4 per person.
Indemnity policies – These may be required for example if there is a defect in the title or where there is no planning permission or building regulation approval. The cost will depend on the value of the property.
Search fees - These will vary depending on the area in which the property is located and various other factors but are usually in the region of £350.
Stamp Duty Land Tax - This will depend on circumstances. The amount of SDLT can be calculated on the government sdlt website at www.tax.service.gov.uk/calculate-stamp-duty-land-tax
Land Registry fees - This will depend on the value of the property and whether it is the purchase of a part or whole of title and whether the property is currently registered at the Land Registry.
For leasehold properties there are likely to be additional fees to pay to the landlord and managing agent. These will not be known until the contract papers are received from the sellers solicitors.
Timescales
The timescale will depend on a number of factors and will depend on the circumstances surrounding each property and the individual buyer and seller. If there is no chain and mortgage finance has been arranged then the process will usually take between 6 to 12 weeks.
Stages of the process
Set out below are the usual stages of the purchase:-
- Taking instructions, issuing client engagement and care letter, obtaining idenfitcation documents and carrying out anti money laundering checks.
- Checking source of funds.
- Considering contract and title documents and information provided by the seller.
- Carrying out searches, making further enquiries.
- Reporting to you on title and the terms of the mortgage if any.
- Agreeing a date for completion and exchanging contracts.
- Forwarding report on title to any mortgage company and arranging funds for completion.
- Completing the purchase, paying any stamp duty land tax and registering title at the Land Registry.
- Serving notice of transfer and charge on landlord and complying with any restrictions set out in the title.
Residential property sales
The details of our fees are a guide for a standard transaction. These will cover the work required to complete your sale. Fees may be payable for non standard transactions such as a sale of a part of a property or a sale at auction.
Freehold sales up to £250,000 will be a fixed fee of £1200 plus VAT @ 20% = £1440
Between £250,001 and £450,000 a fixed fee of £1300 plus VAT @ 20% = £1560
Between £450,001 and £650,000 a fixed fee of £1400 plus VAT @ 20% = £1680
Over £650,000 a fixed fee of 0.225% plus VAT @ 20%
Leasehold sales an additional £450 plus VAT @ 20% will be added to the above fees.
The above fees do not include disbursements. The most common disbursements are as follows:-
Anti money laundering fees £4 per person.
Office copy entries from the Land Registry where the property is registered. These will vary from £6 to approximately £30.
For leasehold properties there are likely to be additional fees to pay to the landlord and managing agent in respect of information packs.
Indemnity policies may be required for example if there is a defect in the title or where there is no planning permission or building regulation approval. The cost will depend on the value of the property.
Timescales
The timescale will depend on a number of factors and on the circumstances surrounding each property and the individual buyer and seller. If the buyers finance has been arranged then the process will usually take 6 to 12 weeks.
Stages of the Process
Set out below are the usual stages of the sale:-
- Taking your instructions including issuing client engagement and care letter, obtaining identification documents and carrying out anti money laundering checks.
- Checking any mortgages or other loans are cleared on the property.
- Preparing contract for approval together with title documents and information forms.
- Replying to any enquiries raised by the buyers solicitors.
- Forwarding documents for you to sign.
- Agreeing a date for completion and exchanging contracts.
- Obtaining mortgage redemption figures and estate agents commission.
- Redeeming any mortgages and paying estate agents.
People
The people carrying out residential conveyancing purchases and sales are listed below:-
Charles Rutter – Solicitor – qualified in 1976 – supervisor
Nicky Adams – CLEX – qualified in 2012
Uncontested probate and estate administration
The information given below is general and more precise and personalised information will be given in the clients engagement and care letter.
Our charges will be on a fixed fee basis which will be agreed with you at the outset.
VAT is currently 20%. This is subject to change by HM Treasury.
Our charges for obtaining a Grant of Probate or Letters of Administration only will start from £950 plus VAT for straight forward estates where no Inheritance Tax is payable.
Our charges for dealing with the administration of an estate will be a fixed fee of 1.25% of the gross value of the estate subject to a minimum fee of £950 plus VAT. Other disbursements and tax will be payable in addition to our fees.
The above fees do not include disbursements. The most common disbursements are as follows:-
Anti money laundering fees £4 per person.
Inheritance Tax will depend on the value of the estate and the assets comprised in the estate.
The fees for Grant of Probate applications are currently £273.
Additional office copy probates £1.50 per copy.
Bankruptcy checks £2 per person.
London Gazette advertisements £150.
Timescales
For a grant of probate only where no inheritance tax is payable we aim to obtain the grant within 3 months. If the estate is complex or where inheritance tax is payable we aim to obtain the grant of probate between 3 to 12 months. The average administration of an estate will usually be completed within 12 months but may take longer depending on the circumstances of the individual estate.
Stages of the process in obtaining a grant of probate or letters of administration where no Inheritance Tax is payable.
Set out below are the usual stages:-
1. Estimating the value of the estate after all the bills are paid;
2. Preparing the Statement of Truth and Inland Revenue forms;
3. Applying for the Grant of Probate.
Stages of the process in dealing with the administration of the estate
Set out below are the usual stages:-
1. Estimating the value of the estate after all the bills are paid
2. Preparing the Statement of Truth and Inland Revenue forms and paying any Inheritance Tax due.
3. Applying for the Grant of Probate and informing the Revenue.
4. Sending copies of the Grant of Probate to Banks, Building Societies and others holding money and property
5. Collecting and paying estate money into our client account (where it will be subject to the protection of the Law Society Rules regarding Solicitors’ firms’ handling of clients’ money)
6. Preparing the estate accounts which will show the assets of the estate and the payment of bills and legacies
7. Finalising the accounts and handing over the remaining balance to the beneficiaries.
People
Our people doing the work are listed below:-
Charles Rutter – Solicitor – qualified 1976 (supervisor)
Robert Bracher - TEP
