We are aware that many people are concerned about the cost of engaging the services of a Solicitor. We tried to be as transparent as possible about our fees. It is not feasible to cover every eventuality in a fixed way we set out below a guide to our fees to some of our more common services. Please do not hesitate to ask for further details, or a specific estimate for your case.
Our charges for dealing with the estate of someone who has passed away will be 2% of the total assets of the estate at the date of death plus VAT. If, therefore, the deceased had assets (including any share in a property) of £300,000 our charge would be £6000 plus VAT of £1200, making a total of £7,200.
This is subject to a minimum charge of £2,500 plus VAT.
In addition, there may be fees payable to others.
A fee is payable to the Government to obtain a Grant of Representation which is the legal authority for the Executors of a Will, or the Administrators of the estate where no Will was left to deal with the estate. This fee is currently £155 plus £1.50 for each official copy of the Grant that is required. Other fees that may be incurred include those of professional valuers where necessary and share dealing charges There are occasions when we are asked to only obtain the Grant of Probate, leaving the individual Executor(s) to deal with financial institutions, tax authorities, creditors, beneficiaries, etc, directly. In such cases our fees are £2,000 plus VAT & disbursement. This service is usually only available where there is no Inheritance Tax liability and the shorter IHT205 return is required.
Where we act in the purchase or sale of a freehold property our fee will be £895 plus VAT of £179, making a total of £1,074. Where the property is leasehold, our fee will be £935 plus VAT of £187, making a total of £1,122.
Where your transaction involves buying a property, and/or discharging a mortgage it will be necessary for us to transfer funds using the CHAPS system. We will charge £30 plus VAT of £6 making a total of £36 for each such transfer to cover banking and administrative costs.
In a typical sale transaction, the Seller is expected to provide official copies of Land Registry documentation which will incur a fee of approximately £15 depending on the number of documents involved. If the property being sold is leasehold, it will usually be necessary to obtain information from the Landlord or Managing Agents whose typical fees are £400 plus VAT (£480).
When purchasing a property, a typical package of searches will cost approximately £300. It will be necessary to register the transaction with the Land Registry and Stamp Duty Land Tax may be payable. These depend upon the value of the property concerned. Please ask for an estimate of these charges.