Fees

December 5th, 2018,

Prices for conveyancing

This firm has two offices both with experienced property teams. We act for people living on the Waterside, New Forest , Southampton and beyond. We also act for clients of high value properties in London and countrywide. Our client base has developed principally through recommendation. We also have a specialist new build team based in our Totton office.   

It is normal practice for us to give a tailored quote by email setting out the charges together with a total price. We prefer to do becuse we can then tailor it precisely to you requirment and you will not be committed to using this firm until you accept the quote and complete a client instruction form. 

The fees for acting for you on a sale or a purchase depend on a number of factors. Our base fee range is as follows.

Sale:

Sale price Band

Up to £750,000                    £720-1200 including VAT

£750,000 -£1,000,000          £1200-1500 including VAT

£1,000,000-£1,250,000        £1500-2100 including VAT

£1,250,000 and higher From £2500 including VAT*

Purchase:

Up to £750,000                     £720-1200 including VAT

£750,000-£1,000,000             £1200-1250 including VAT

£1,000,000-£1,250,000           £15000 -2100 including VAT

£1,250,000 and higher from £2500 including  VAT*

Where there is to be a mortgage we do not charge an additional fee for acting for the lender.

We do not normally carry out routine re-mortgage work. Should you want to instruct us to do this we will provide you with a quote based on the value of the property and the mortgaeg amount.

We do transfer of equity work (ie transferring a property from joint names to sole name) but this is commonly part of a larger piece of work eg a matrimonial issue and does not have a fixed fee. 

*We will agree a bespoke quote with you for completing your sale and purchase.

In addition to the fixed base price there are normally the following additional fees and expenses. These are sometimes referred to as disbursements and are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain expenses which will be set out in the individual lease relating to the Property. The expenses which we anticipate will apply are set out separately below. This list is not exhaustive and other expenses may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.

Sale

Telegraphic transfer fee to pay off a mortgage               £60
Office copies of the Title                                                 £ 6
Payment to you of the proceeds of sale by bank transfer             £ 12-42.50 

 

Purchase

Search Fees From £170
Bankruptcy search £4.00
Land Registry search £3.00
Land Registry Fee dependant on purchase price
Stamp Duty Land Tax Dependant on a number of factors

If the following become apparent during the transaction the following charges will apply;

Unregistered land                                                                                      £120
Repossession/newbuild supplement                                                          £120
Forces Help to Buy Scheme –                                                                     £120
Second charges or further borrowing                                                          £120 
Leasehold properties                                                                                    £120 

Where VAT is chargeable it is inclusive of VAT 

 

A typical cost.

Sale

A typical costs of a sale of a registered freehold house at £750,000 assuming one mortgage and no unforeseen problems would be 

 

Our fees  £1200

Bank transfer arrangment fee to pay off the mortgage £60

Copies of the register from the land registry £6

bank transfer arrangment fee to pay proceeds to you £42.50

 

total including VAT  £1308.50

 

A typical cost (excluding SDLT land Tax) for acting for you in the purchase of a £750,000 registered freehold house with a mortgage assuing no unforeseen issues would be:

 

Our fees £1200

Search Fees  £170 ( this can vary depending on what searches whould be relevant to the particuklar property)
Bankruptcy search £4
Land Registry search £3

Land registry fees £270

Bank transfer arrangement fee to purchasers £60

total including VAT  £1647

The above are for illustration purposes only and do not constitute a quote.

 

The sale work will consist of the following:
(a) drafting a contract package;
b) assisting you in answering replies to enquiries about the prtoperty from the puchasers;

(c) negotiating a transfer document;
(d) proceeding to exchange of contracts and then completion of the sale;
(g) redeeming your mortgage (if appropriate), settling your estate agents’ commission account (if appropriate)

The purchase work for a purchase will typically consist of the following:

 

 

  • Take your instructions and give you initial advice
  • Check finances are in place to fund purchase and contact lender’s solicitors if needed
  • Receive and advise on contract documents
  • Carry out searches
  • Obtain further planning documentation if required
  • Make any necessary enquiries of seller’s solicitor
  • Give you advice on all documents and information received
  • Go through conditions of mortgage offer with you
  • Send final contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from lender and you
  • Complete purchase
  • Deal with payment of Stamp Duty/Land Tax*
  • Deal with application for registration at Land Registry.

 

Stamp Duty Land Tax

This depends 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.

We will not be carrying out any enquires into the past use of the property and will assume that you will be using it for residential purposes. The local search will not reveal planning applications in the vicinity of the property and if you require more information about this we would recommend that you look on the local Council’s website. We will not be dealing with the transfer of any guarantees and you will need to take appropriate meter readings and notify the utility companies accordingly. We would also recommend that you have your own survey carried out as you buy the property subject to the phrase “the buyer beware” and would also suggest that you ensure you can arrange suitable buildings insurance before we exchange contracts.

The price has been calculated on the basis that:
(a) both properties are currently held under a single freehold title at the Land Registry with no title defects;
(b) one contract is submitted to one purchaser;
(c) the sale and purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession;
(d) completion takes place on the date agreed in the contract;

If it becomes apparent that there are unforeseen circumstances in connection with the sale and purchase we may have to increase our charges, but if that is the case, we shall inform you before we incur any additional costs. Examples of unforseen circumstances my be the need for insurance because of a problem with the legal title, further charges on the proerty being sold we were not made aware of, the need to draft a deed of variation. We will advise you of the additional costs of any further work. 

If you are buying a leasehold property we may have to give formal notice to the freeholder that you are the new legal owner and there may be fees charged by the freeholder. Furthermore if you are selling a leasehold property we may have to obtain management information from the managing agents or freeholder. They may make a charge for providing this information which you will need to pay for upfront. the charges vary from leaseholder to leaseholder and there can be a delay  waiting for the information to be provided.

The fees payable for the transmission of your SDLT return do not include any subsequent correspondence with HMRC except in circumstances where the issue has been caused by us.
If we find that any other additional expenses need to be incurred after we have considered the contract, searches and title documents, we shall let you know the reason for the extra expense, the likely amount, and when we shall need payment.
If, for any reason, we have to abort the transaction related to the sale or purchase of your property, we will break the transaction down into stages and advise what percentage of the estimated fee will be charged at each stage. 

The fees are the normally the same irrespective of which office is dealing with the transaction.

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 8-10 weeks but obviously this is dependant on a number of factors, eg if there is a chain involved, if a mortgage is required etc. we will work closely with you to ensure as we are able that your timescale requirment is met. There are two key stages. Exchange of contracts where the parties are contractually bound to buy/sell on a date in the future and the comnpletion date – the set date where the money changes hadbns and the move takes place. The amount of time between exchange and completion will depend on the parties. it is typically between 1-2 weeks but it can range from simultaneous, if all parties agree, to several weeks in advance, again by agreement

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property which is finished, with a mortgage in principle, it could take 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such a situation additional charges would apply.

The members of each office team are:

Hythe

Andrea Waring – Solicitor Head of Property and partner. Supervisor of both offices. MLO officer. Qualified 2000. Specialist property solicitor since qualifying. Hourly rate where a fixed price has not been given £270 including VAT per hour.  Andrea has substantial experience in high value properties dealing with properties locally but also in London and throughout the country. Andrea has a very substantial case load. 

Support Staff
Susan Bullivant- legal Assistant. Dealing principally with post exchange and post completion work. Highly experienced.

Charles Waring- Paralegal. Charles has a work placement with the firm and delas with general admin and also applications to the land registry

Totton

Paul Waring Senior partner – Solicitor supervisor of Totton Office. Paul qualified in 1989 and has substantial legal and managerial experience. Paul is the compliance officer (COLP and COFA) and complaints handler.

Rebecca Freeman Senior conveyancing executive lead conveyancer in the Totton office. Rebecca has substantial experience in general property worjk and new build work
Melissa Chester – Associate Legal Executive. Fee earner conveyancer. melissa has substantial residential and new buikld work experience

Michele Bennett- Conveyancing executive with eight years residential property experience

Shannon Doyle Conveyancing executive supporting Rebecca Freeman and dealiong with property sales

 

Probate Fees

NON-CONTENTIOUS PROBATE FEES.

We have set out below the fees we charge for a straightforward application to obtain a Grant of Probate, Grant of Letters of Administration with Will Annexed or Grant of Letters of Administration:

For preparing the application and preparing an HMRC Form IHT205: £600 plus VAT (Total £720)

For preparing the application and preparing HMRC Forms IHT205 and IHT217: £700 plus VAT (Total £840)

For preparing the application and preparing HMRC Form IHT400 (a longer Inheritance Tax Form) but excluding any application for Residential Nil Rate Band: £850 plus VAT (Total £1,020).

For preparing the application and preparing HMRC Form IHT400 and to include making an application for Residential Nil Rate Band and/or Transferable Residential Nil Rate Band: £950 plus VAT (Total £1,140).

There is an additional fee payable in all cases of £155 to the Probate Registry for the issue of a Grant of Representation. A copy of the Grant that is stamped with the embossed seal of the Court costs 50p.
There is a fee payable of £7 maximum to a Commissioner for Oaths for each Executor or Administrator who applies for a Grant.

These costs are based on the time taken to prepare the application forms. Should the application be unusual in nature or in time required to make it we will advise you in advance of how much additional work is envisaged and what the additional costs would be.

 

As part of the fee we will typically:

  • 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 two copies to you

Typically it takes about 6-12 weeks to obtain a grant but this is very uncertain at the moment due to the delays caused by the ongoing pandemic.

 

The fees do not include any charges for the administration of a deceased estate.

The Administration of a deceased estate would be charged at an hourly rate. This would involve all the elements of winding up and distributing a deceased estate. It would not include any costs incurred for the sale of particular assets (i.e selling a house or a stockbroker’s commission selling shares). A lot depends on the complexity of the estate and the number of beneficiaries. Recent costs have ranged from £1,850 plus VAT to £7,900 plus VAT. The range varies considerably becuase it depends on the indicvidual circumstances of the matter. For instance if there is one beneficiary and no property , costs will be at the lower end of the range. If there are muliple beneficiaries a property and multiple bank accounts costs will be at the higher end. The amount of time it takes to wind up an estate varies significantly. Collecting in assets can take 10-20 weeks and distribution 2-6 weeks but there are so many differenct elements that could shorten or lenthen the time it is difficult to give a typical time length. 

The costs of locating beneficiaries (Genealogist’s fees) would be extra and would depend on the amount of research undertaken.
The work is carried out by Matthew Knight. Matthew is an Oxford University graduate and a solicitor who qualified in 1998 and has practised in this area since then.  Matthew’s present hourly charging rate is £ 270 per hour incl VAT. This rate is subject to review.

Matthew Knight is supported by Jenny Jewell who is a very experienced legal assistant. 

If you would like to know more please call Matthew Knight on 02380 849381

Other areas of work

Please contact the office if you wish to discuss our fees for any other area of work we do. Our team are always happy to help.