Fees Transparency

Fees Transparency

Being transparent about our fees we can give you the following examples which we hope are a useful guide:-


(A)       For residential conveyancing transactions:-

 

              1. On a typical sale of a mortgaged residential freehold property in the York area for £175,000 the legal costs/fees would be as follows:-
                     £
                Legal Fees on sale 699.00
                VAT on legal fees (at 20%) 139.80
                CHAPS (Bank) transfer fee [to pay off mortgage] 35.00
                VAT on CHAPS transfer fee 7.00
                ID fee (for new clients) per person 10.00
                VAT on ID fee 2.00
                Expenses/Disbursements on the sale (inclusive of VAT):
                Official Copies of your deeds (from the Land Registry) 6.00
                TOTAL 898.80
              2. On a typical purchase of a residential freehold property in the York area for £500,000 (with a mortgage) the legal costs/fees would be as follows:-
                     £
                Legal Fees on purchase 999.00
                VAT on legal fees 199.80
                Fee for completion of Stamp Duty Land Tax Return 55.00
                VAT on Stamp Duty Land Tax Return fee 11.00
                CHAPS (Bank) transfer fee [for transferring money to the seller’s solicitors on Completion] 35.00
                VAT on CHAPS transfer fee 7.00
                ID fee (for new clients) per person 10.00
                VAT on ID fee 2.00
                Expenses/Disbursements on the purchase (inclusive of VAT):
                Local Authority Search 144.40
                Water and Drainage Search 67.84
                Environmental Search 50.00
                Chancel Liability Indemnity Insurance 6.00
                Bankruptcy Search (per person) 2.00
                Land Registry Search 3.00
                Land Registration 135.00
                Stamp Duty Land Tax 10,000.00
                TOTAL 11,727.04
              3. On a typical sale of a mortgaged leasehold flat in the York area for £170,000 the legal fees/costs would be as follows:-
                     £
                Legal Fees 829.00
                VAT on legal fees 165.80
                ID fee (for new clients) per person 10.00
                VAT on ID fee 2.00
                CHAPS transfer fee (for redemption of mortgage) 35.00
                VAT on CHAPS transfer fee 7.00
                Expenses/Disbursements on the sale (inclusive of VAT):
                Official Copies of your deeds (from the Land Registry) 12.00
                TOTAL 1060.80
              4. On a typical purchase of a mortgaged leasehold flat in the York area for £250,000 the legal costs/fees would be as follows:-
                     £
                Legal Fees 974.00
                VAT on legal fees 194.80
                Fee for completion of Stamp Duty Land Tax Return 55.00
                VAT on Stamp Duty Land Tax Return fee 11.00
                CHAPS (Bank) transfer fee 35.00
                VAT on CHAPS transfer fee 7.00
                ID fee (for new clients) per person 10.00
                VAT on ID 2.00
                Expenses/Disbursements on the purchase (inclusive of VAT):
                Local Authority Search 144.40
                Water and Drainage Search 67.84
                Environmental Search 50.00
                Chancel Liability Indemnity Insurance 6.00
                Bankruptcy Search (per person) 2.00
                Land Registry Search 3.00
                Land Registration 135.00
                Stamp Duty Land Tax (the fee payable will be dependable upon your individual circumstances including whether you are a first time buyer. The figure given is for illustrative purposes) 2,500.00
                TOTAL 4,036.00

                5. On a typical mortgage or re-mortgage of a freehold property for up to £200,000 the legal fees/costs would be as follows:-

                     £
                Legal Fees 495.00
                VAT on legal fees 99.00
                CHAPS (Bank) transfer fee (to pay off current mortgage) 35.00
                VAT on CHAPS transfer fee 7.00
                ID fee (for new clients) per person 10.00
                VAT on ID fee 2.00
                Expenses/Disbursements on the purchase (inclusive of VAT):
                Official copies (of your deeds) 16.00
                Search insurance premium (from) 17.00
                Land Registration (from) 30.00
                Bankruptcy search fee (per person) 2.00
                Chancel Liability Indemnity Insurance fee 6.00
                Land Registry search fee 3.00
                TOTAL 722.00

                 

              5. The above figures are subject to the following provisos:-
                    1. Disbursements such as search fees vary from Local Authority to Local Authority and you will need to ask us for a specific figure for properties outside York.
                    2. Stamp Duty Land Tax varies according to the house price and your personal circumstances. For example, different rates may apply if you are a first time buyer, replacing your main residence, buying an additional property, or buying a leasehold property.  You will need to request a specific figure from us for each and every transaction and our staff will calculate the correct tax due.
                    3. If you are selling a leasehold property, it may be necessary for you to pay the management company or its agents for the provision of information called the “Seller’s Information/Legal Pack”. The cost of this varies but can be anything from £150 plus VAT (£180) upwards.
                    4. If you are buying a leasehold property you will have to notify the Landlords and any Management Company of your purchase (and, if applicable, your mortgage). Again, the cost varies but it can be anything from £60 plus VAT (£72) upwards.  Extra fees may also be payable for executing Deeds of Covenant and obtaining membership of a Management Company.  These fees vary from case to case.
                    5. The figures given above are for owner occupiers and an additional charge of £50 plus VAT (i.e. £10) is made for buy to let transactions.
                    6. Indemnity insurance can be an additional disbursement for you if you are selling or mortgaging and there are any defects in your legal title. This will not become apparent until the conveyancing process is underway.  The prices vary from case to case but are generally modest.  You will be notified of them up front.
                What is included in our fees and what is not:-

                The fees you are quoted cover all the legal work in connection with your transaction (including everything requested in relation to any mortgage that is involved). You will be represented by an experienced conveyancer who will be supported by an experienced assistant.

                WE DO NOT CHARGE EXTRA FOR:-

                    1. Mortgage administration.
                    2. Redeeming your mortgage.
                    3. A contemporaneous mortgage in relation to your purchase.
                    4. Arranging title indemnity insurance.
                    5. Storing your file after completion.
                    6. A property that is a newbuild.
                    7. A property that will involve first registration at the Land Registry.
                    8. A shared ownership property.
                    9. A Help to Buy property.
                    10. A Right to Buy property.
                    11. A property that has been re-possessed.
                    12. A property purchased at auction.

                Many firms do charge these items as extras.  You need to be very careful to check this when making comparisons.

                If a transaction does proceed to completion you will be charged the fees and disbursements quoted.  If a transaction does not complete then you will be charged a fair proportion of the fee (plus VAT) and you will be liable to pay any disbursements/expenses that have already been incurred.

                If you ask us to do legal work that exceeds (i.e. is additional to) the work we have quoted for, we may have to charge an additional fee.   We will always discuss with you in advance.  This is unlikely to happen.

                Finally, we do have guides on property sales and purchases, which can be supplied on request.

          (B)       For Administration of an Estate/Probate

          With over 25 years of experience in general legal practice our Life Planning Department is supervised by Head of Life Planning, Solicitor Rowena Rogers, assisted by Emma Hartley and we are able to help you put future plans in place whilst offering a sensitive approach in administering Estates.

          For non-contentious Probate (the administering of the Estate of a deceased person)

          We are unable to offer a fixed fee because each Estate is very different.

          Our fees are based upon time spent and this is charged at:-

          £245 per hour (plus VAT) for Rowena Rogers

          £225 per hour (plus VAT) for Emma Hartley

          We will endeavour to ensure that work is undertaken at the appropriate level of seniority.  From our own experience a straight forward Estate administration is likely to cost in the region of between £1,500 and £3,000 plus VAT, depending on the size of the Estate.  For more complex cases, fees will be upwards of £3,000 plus VAT. We will endeavour to give you an indication of cost at the outset.  VAT is at 20%.

          In addition to the above fees, disbursements are also payable (Disbursements are fees payable to other people or organisations).  All disbursements are subject to review and change by the providers of the services.

          Type of Disbursement     Fee
          Valuers fees for probate (property) valuation – average costs (if a valuation of a commercial/agricultural property is needed, and on an estate where inheritance tax may be payable, fees will be higher). £200 – £300 plus VAT
          Valuation fees for contents/personal possessions valuation – average costs (if there are items where a specialist valuer is required, and/or if Inheritance tax may be payable, the fees will be higher) £150-£200 plus VAT
          Land Registry view of property title £3 per title
          Statutory Notice in London Gazette (for creditors) £71.50 plus VAT
          Creditors Notice in local paper fees vary depending on location
          Oath fees (if there is a Will and the appointed Executor is acting) £7 per executor and additional £2 for each codicil
          Oath fees £5 per administrator and £2 per will/codicil annexed
          Probate application fees: £155
          Additional copies of Grant of Probate/Letters of Administration: £0.50 per copy
          Bankruptcy search on beneficiaries where applicable: £2 per name
          Land Registry fees for transfer of property Depends on property value – in accordance with the Land Registry Scale
          Land Registry fees for entry of a Restriction where payable £20 per restriction

          In some cases, specialist advice is needed e.g. from an accountant in connection with a tax issue.  Their professional fees will be payable in addition. In some cases, further fees may be payable for a chartered surveyor if the valuation of a property is in issue with HMRC.  It is not possible to give an indication of these fees but the fee earner will notify you of the likely fees if these issue do apply

          Our services in the administration of an Estate which means collecting and distributing money, property and assets belonging to a person following death include:-

          • Obtaining full information about the assets and liabilities of the Estate.
          • Completing an IHT Tax Return and paying any Inheritance Tax liability
          • Applying for a Grant of Probate or Letters of Administration.
          • Once the Grant has been obtained, encashing any assets, transferring any property to beneficiaries and paying any liabilities (including funeral expenses).
          • Preparing an account of money received and payments made.
          • Distributing what remains to beneficiaries in accordance with the Will or, where there is no Will, distributing in accordance with the Rules of Intestacy.
        1. (C)       Licensing Applications in relation to Business Premises

          The legal services provided under this heading cover advice, assistance and representation to businesses in relation to licensing applications for business premises.  This includes for the sale and supply of alcohol, the changing of opening hours and for entertainment purposes.

          We charge a standard fee for our time of £850 plus VAT (at 20%) for an un-opposed Premises Licence application and £495 plus VAT for most Premises Licence Variation applications.  Other licensing work is charged at an hourly rate of £200 plus VAT.

          The local Licensing Authority charge fees for licensing applications but these may vary from transaction to transaction.  We can always supply a definite figure for your particular case.  By way of example, the application fee for a new Premises Licence for a property with a rateable value of less than £33,000.00 is £190 and the fee for transferring a premises licence is £23.

          It is sometimes also necessary to advertise applications in the local press and the charge for this is made by the relevant publication and varies according to the size of the advert and the location of the property.  It is rarely less than £500.

Guest Walker

Guest Walker is a leading and established firm of solicitors based in York specialising in commercial and residential property law.
Guest Walker

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