Costings

Sale

Purchase

TRANSFER OF EQUITY & REMORTGAGE

Sale Disbursements

Additional Fees which are not always relevant to every sale

Purchase Disbursements

Additional Fees which are not always relevant to every purchase

Transfer & Remortgage Disbursements & Additional Fees which are not always relevant to every remortgage or transfer

Disbursments

Disbursements are costs related to your conveyancing transaction that are payable to third parties, for example Land Registry Fees. The payment of these disbursements is made by our firm on your behalf.

Disbursement charges may be subject to change if further information relating to your property/transaction becomes available, For example, if an additional search is required such as an Environmental Search, the cost of which is £60.64.

Stamp Duty Land Tax

This will depend on the purchase price of your property.

You can calculate the amount you will need to pay by using HMRC's website or if the property is located in Wales by using the Welsh Revenue Authority's website here.

Exclusions

We do not undertake tax advice.

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

• If a legal title is defective or part of the property is unregistered
• If crucial documents, we have previously requested from you have not been provided to us
• If you require to exchange within 6 weeks of instructing us
• If you require completion within 6 weeks of instructing us
• If you require simultaneous exchange and completion
• The sale is a via an Executor.
• Sale is via an auction.
• The property is subject to shared ownership.

Time Scales

For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved, such as:

• Number of parties in the chain
• Whether you or your buyer has a mortgage in place
• Whether the buyer requests lease extension for a leasehold property or it is required on a purchase
• Obtaining Search results and if the results bring up any issues
• Whether buyer’s Survey shows up any issues
• Buyer’s/Seller’s Enquiries
• Purchase of a New Build Property

A typical transaction will take between 10-14 weeks. However, if any of the above apply or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity, so you always have a clear picture of how long things are likely to take.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:

Sale:

• Taking your instructions and giving initial advised based on the information you have provided
• Checking finances are in place for the buyer to fund the purchase
• Drafting contracts of sale and any other necessary documents and reviewing these with you
• Sending the contacts of sale to the buyer’s solicitor and dealing with any enquires they have
• Providing advice on all documents and information received
• Finalising the contract and sending to you for signature
• Agreeing a completion date (the date from which the buyer will legally own the property)
• Exchanging contracts and notify you that this has happened
• Completing the purchase

Purchase:

• Taking your instructions and give initial advice based on the information you have provided
• Checking finances are in place to fund the purchase and contacting the lender’s solicitors if needed
• Receiving and advising on contract documents
• Undertaking searches
• Obtaining further planning documentation if required
• Making any necessary enquiries of the seller’s solicitor
• Providing advice on all documents and information received
• Advising you of the mortgage offer conditions
• Finalising contracts and sending to you for signature
• Agreeing a completion date (the date from which you will legally own the property)
• Exchanging contracts and notifying you that this has happened
• Ensuring all monies have been received from you and the lender(s)
• Completing the purchase
• Dealing with payment of Stamp Duty/Land Tax
• Completing and submitting an application for registration at the Land Registry

FULL ADMINISTRATION OF AN ESTATE (NON-CHARGEABLE ESTATE)

We anticipate this will take between 3 and 7 hours work at £380.00 per hour. Total costs estimated at £1014.00 - £2660.00 (+VAT).

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. 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 one property
• There no more than 4 bank or building society accounts
• There are no other intangible assets
• There are no more than 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 amde against the estate

Disbursements included in this fee:

• Probate application fee of £300.00 plus £1.50 per extra copy
• Bankruptcy-only Land Charges Department searches (£2.00 per beneficiary)
• Post in the London Gazette and Local Newspaper - Protects against unexpected claims from unknown creditors (Fee to be determined).

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Potenital additional costs

• If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
• If any additional copies of the grant are required, they will cost £0.50p (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
• If the estate is chargeable for inheritance tax then there will be additional costs.
• If the estate exceeds the nil rate band but exemptions can be applied such as transferring unused nil rate band or making use of the residence nil rate band etc. there will additional costs.

How long will this take?

On average, estates that fall within this range are dealt with within 6-9 months. Typically, obtaining the grant of probate takes 8-12 weeks. Collecting assets then follows, which can take between 4-8 weeks. Once this has been done, we can distribute the assets, which normally takes 4-12 weeks.

In the administration of estate and in matters involving a substantial financial value or benefit to a client a charge reflecting the size of the estate or the value of the financial benefit to the client or beneficiary may be considered. The value element reflects the importance of the transaction and the consequent responsibility falling upon the firm. In calculating the value element we take into account the guidelines laid down by the Law Society and where a solicitor is appointed as the sole Executor or as a joint Executor of the Will, the value element is as follows:-

• 0.75% of the value of the property where the deceased owned it in the deceased's sole name;
• or 0.75% of the value of the share in the property owned by the deceased if the same was own jointly with another person;
• 1.5% of the value of the rest of the Estate.

On average, estates that fall within this range are dealt with within 9-18 months. Typically, obtaining the grant of probate takes 12-20 weeks. Collecting assets then follows, which can take between 8-16 weeks. Once this has been done, we can distribute the assets, which normally takes 8-12 weeks.

GRANT APPLICATION ONLY (NON-CHARGEABLE ESTATE)

We can help you through this difficuilt process by obtaining the Grant of Probate on your behalf.

How much does this service cost?

TOTAL: fixed fee of £750.00 plus VAT

This includes: obtaining the grant of probate and providing you with the grant.

Breakdown of costs:

Legal fees £750.00

VAT on legal fees £150.00

Disubrsements:

• Provide you with a dedicated and experienced probate solicitor to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Accurately identify the type of Probate application you will require
• Obtain the relevant documents required to make the application
• Complete the Probate Application and the relevant HMRC forms
• Draft a legal oath for you to swear
• Make the application to the Probate Court on your behalf
• Obtain the Probate and securely send copies to you

On average, estates that fall within this range are dealt with within 2-3 months. Typically, obtaining the grant of probate takes 6-12 weeks.

Potential additional costs

• If any additional copies of the grant are required, they will cost £0.50p (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.
• If the estate is chargeable for inheritance tax then there will be additional costs.
• If the estate exceeds the nil rate band but exemptions can be applied such as transferring unused nil rate band or making use of the residence nil rate band etc. there will additional costs.