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We provide a complete conveyancing service and will, of course, provide you with a detailed written estimate of the legal fees and disbursements that will relate to your transaction within the Client Engagement Letter and in our Terms & Conditions of Business at the outset of the transaction. Whilst all legal fees are in part dependent on the complexity of the transaction we now provide an outline of the minimum legal fees and disbursements that we will charge:
We operate on a benchmark of 0.25% of the sale price depending upon the complexity of the transaction. Please contact us for a detailed quotation which will reflect the particulars of your specific transaction.
Purchase price Legal fee
Up to £200,000 £1,050 (£1,260 including VAT)
£200,001 to £300,000 £1,075 (£1,290 including VAT)
£300,001 to £400,000 £1,250 (£1,500 including VAT)
£400,001 to £550,000 £1,350 (£1,620 including VAT)
£550,001 to £700,000 £1,600 (£1,920 including VAT)
Over £700,000 We operate on a benchmark of 0.25% of the purchase price depending upon the complexity of the transaction. Please contact us for a detailed quotation which will reflect the particulars of your transaction.
If you proceed with the assistance of mortgage finance to be secured against this property and we are subsequently instructed to act for your mortgage company, there will be an additional fee of £300.00 (£360 including VAT), for each mortgage or loan (including Help to Buy loans), due to the extra amount of work that will be involved.
Leasehold – if the transaction involves leasehold title we will charge an additional legal fee of £500 (£600 including VAT) in light of the extra amount of time that will need to be spent on the transaction.
Remortgage or mortgage transactions – if the transaction is a remortgage only with no transfer of the title then the minimum legal fee will be £1,000 (£1,200 including VAT) plus conveyancing search fees if these are required by the mortgage company.
While acting for you in the mortgage or remortgage of your property, we will carry out the following work:
- Receiving the Deeds of the property from you or your mortgagee, and checking them and any other relevant papers.
- Obtaining Land Registry official copies and checking them.
- All related correspondence and telephone calls, faxes and emails.
- Making Local and H M Land Registry Searches and if instructed by you or your Lenders Mining, Water and Drainage and Environmental Searches, and checking all the replies.
- Complying with the terms and conditions attached to your Mortgage Offer and explaining these to you.
- Applying for a redemption statement from any existing lender(s) and sending to such lender(s) the amount required to pay off their mortgage.
- Completing the Mortgage and receiving the advance monies via the banking system.
- Preparing our statement of account and sending you any monies due to you, if in the case of a remortgage, the amount that you are borrowing exceeds that required to pay off any existing mortgage(s).
- On the mortgage of a leasehold flat, obtaining up to date information from the Landlord or Management Company about the Service Charges, the need for repairs on the building, rent receipts, etc., if you are not able to supply this information.
The total charges will include specific costs and payments, other than for time spent.
We reserve the right to charge extra for drafting and preparing additional items which may only become apparent as the transaction progresses, such as: TP1 Transfer of Part, Declaration of Trust, Deed of Covenant, Statutory Declaration, Statement of Truth, organising Indemnity Insurance quotations and policies with third party indemnity insurance providers. The approximate additional legal fees for attending to each of these matters would be estimated at £250 (£300 including VAT) for each document or policy, depending on the complexity and time spent.
Unavoidable disbursements – you will have to reimburse the firm for these payments made on your behalf. These may include (and are subject to vary especially if additional searches need to be commissioned such as a china clay mining search in addition to a metalliferous mining search, as well as the fact that this is not an exhaustive list):
a) HM Land Registry FR1/AP1 application fee
£20.00 – £1,150 (this will depend on the purchase price, whether or not the title is registered or unregistered and whether or not scale 1 or scale 2 of the HM Land Registry fees apply but is likely to be between £20 to £1,150)
b) Full Council Local Authority search fee (ex VAT)
£255.00 (this will depend on the individual local authority and county in which the property is located but is likely to be at least £255.00)
c) HMRC Stamp Duty Land Tax (SDLT)
You will need to advise us which SDLT rate will be applicable to you and what the exact amount of SDLT liability will be relating to your purchase. This will depend on your own individual circumstances including whether or not any reliefs apply, such as multiple dwellings relief, first time buyers relief and for example whether or not your purchase is a linked transaction. We we do not provide tax advice. You may wish to liaise directly with HM Revenue & Customs and your accountant or tax adviser as well regarding this before you confirm the information to us. You can calculate the amount SDLT that will be payable by visiting HMRC’s website.
d) Lloyds Bank & Hine Downing Administration CHAPS Telegraphic Transfer fees (ex VAT)
amount to £12.50 Bank CHAPS fee plus £16.00 Hine Downing administration fee making a total of £28.50 (£34.20 including VAT) for each CHAPS transfer
e) Metalliferous Mining Activity search fee (ex VAT) £70.00
f) Water and Drainage search fee (ex VAT) £51.25
g) Property Search Group administration charge (ex VAT) £29.99
h) Homecheck Pro Environmental Report (ex VAT) £51.00
i) Chancel Check search fee (ex VAT) £20.00
j) Property Search Group copy production fee (ex VAT) £10.50
k) SDLT.co.uk Electronic Submission Fee (ex VAT) £10.00
l) HM Land Charges search fees (ex VAT) £2.00 per name
m) Anti-money laundering search fee each (ex VAT) £5.00
n) HM Land Registry index map search fee (ex VAT) £5.00
o) HM Land Registry office copy entries (ex VAT) £3.00 for title plan plus £3.00 for each document
p) Flood Report fee (ex VAT) £30.00
q) HM Land Registry OS1/2 fees (ex VAT) £3.00 per title
The standard rate of VAT is currently 20%.
Probate, Wills and Trusts
For the administration of a simple estate we would anticipate spending approximately 12 hours in dealing with matters at between £230.00 and £330.00 per hour (£276 and £396 including VAT). Therefore, the overall costs (excluding disbursements) are likely to be between £2,760.00 and £3,960.00 (£3,312 and £4,752 including 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 towards the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts then costs will be at the higher end of the range.
This quote is for estates where:
- There is a valid UK Will.
- There is no more than one property.
- There are no more than three bank or building society accounts.
- There are no other intangible assets, such as Stocks or Shares.
- There are between one and five beneficiaries.
- There are no disputes between beneficiaries or claims against the estate.
- The estate is not subject to Inheritance Tax.
- No Inheritance Tax Return is required to be prepared and sent to HM Revenue and Customs.
- In addition to our fees and VAT the following disbursements may be incurred:
- Probate court fee – standard fee of £273.00 in most cases.
- Office copies of the grant – £1.50 per copy as required.
- Valuer’s fees – as and if necessary.
- Anti-money laundering search fee (if required) £5.00 plus VAT (each name).
- Lodging statutory notices under section 27 Trustee Act 1925. This protects you in your role as Executor or Administrator from claims from unknown creditors. These costs vary depending on the publication, but are strongly advised in most circumstances.
If the estate is more complex than outlined above then additional costs may be incurred, particularly where:
- There is no valid Will.
- The Estate is of high value or specific complexity.
- There is more than one property.
- There are more than three bank or building society accounts.
- The deceased held shares and investments.
- The deceased held an interest in a business.
- There are substantial lifetime gifts.
- An Inheritance Tax Account is required to be sent to HM Revenue and Customs.
- The estate is liable to Inheritance Tax.
- The deceased was a beneficiary of a trust.
- There are disputes as to the validity of the Will, or between the beneficiaries or claims made against the estate.
- We are asked to finalise the deceased’s Income Tax and/or Capital Gains Tax position to the date of death and/or during the period of administration.In the normal course Executors or Personal Representatives are expected to complete the administration within twelve months from the date of death which period is known as the “Executors Year”. Our aim is to complete the matter as soon as possible, and well within that, with an anticipated timescale of 3 to 6 months for a straightforward estate. We shall strive to complete the administration well within that period and will be able to give you a more accurate indication and estimate of the likely timescale after the issue of the grant of probate should you request us to do so. Factors, such as the sale of property comprised within the estate, are outside our control and may affect the time required to complete the administration. Similarly, should claims against the estate arise, delays are likely to occur before the distribution of the estate. Should the administration appear to us likely to become protracted we will so advise you.
- In addition to the above, if we are asked to assist you with the sale or transfer of the deceased’s property then our Conveyancing Team would be pleased to give you a separate costs estimate.
Our charges for the administration of more complex estates will be based primarily on our hourly rates which range from £230 – £330 per hour (£276 – £396) including VAT), but may also include a value element charged at up to 0.5% of the overall value of the estate. We will set out the basis of our charges in relation to such estates in our client engagement letter at the outset of the administration.
In many respects Hine Downing is a traditional firm of solicitors, a symbol of continuity—and proud of the fact.
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Are your savings and investments safe and sound? Hine Downing Financial services can help you make the right choices.
Are your savings and investments safe and sound? Hine Downing Financial services can help you make the right choices.