Costs Information

We are required by our regulator, The Solicitors Regulation Authority, to give certain information about pricing and services in relation to certain areas of work. The services that we offer to which this requirement applies are conveyancing of residential property and probate. The relevant information is as follows:

Preferential rates may be agreed in any particular case.

Purchase of Residential Property

The following example is based on a standard residential conveyancing transaction of a property worth £600,000. This example is based on a first-time buyer, not owning another property and purchasing this property as their primary residence.

We will carry out due diligence, conduct searches, provide a full report on the property and help with exchange and completion of the contract so you can own your own home. Furthermore, we will take care of the stamp duty and Land Registry Fees. The prices may vary depending on the type of transaction. Please get in contact for a more precise quote. Disbursements are various expenses related to the transaction.

Disbursements

There are certain disbursements, which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements 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.

  • Mellor’s Fees= £1,450
  • Searches= £300
  • Stamp Duty= £20,000
  • Land Registry Fees= electronic fee £270
  • Telegraphic transfer fee= (£30 x 2) £60
  • Priority search= £3
  • Bankruptcy search= £2
  • Company search= £24
  • Lawyer Checker= £12
  • Total= £22,121.00
Stamp Duty or 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.

Anticipated Disbursements
  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £36-£120.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £36-£120.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £120-£240.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £120-£240.

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

Depending on the type of purchase, it is possible that further expenses may be incurred such as Indemnity insurance (which can include Chancel liability insurance, lack of building regulations, restrictive covenant etc). We will keep you advised as to costs as they incur.

Our services will include
  • 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
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • 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
How long will my house purchase take?

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 6-12 weeks.

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 with a mortgage in principle, it could take 4 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

Sale of Residential Property

The following example is based on a standard residential conveyancing transaction of a property worth £600,000. This example is based on a first-time buyer, not owning another property and purchasing this property as their primary residence. We will guide you through the process, help you redeem your mortgage and exchange and complete contracts.

Disbursements
  • Mellor’s Fees= £995.00
  • Land registry title docs and plan etc= estimate £15
  • Telegraphic transfer fee= (£30 x 2) £60
  • Total= £1,070.00

Depending on the type of sale, it is possible further expenses will be incurred. Depending on the property these further expenses will vary such as the need for Indemnity insurance (which can include Chancel liability insurance, lack of building regulations, restrictive covenant etc). A management pack may be necessary for owners of leasehold flats, which will typically cost between £250 to £450. The costs for insurance for restrictive covenants can be hugely variable and we will provide a quotation to you as soon as we are aware of the cost.

How long will my house sale take?

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 6-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if there is a first time buyer involved, selling a new build property with a mortgage in principle, it could take 4 weeks. However, if they are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 3 months. In such, a situation additional charges would apply.

Our services will include
  • 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
  • Send final contract to you for signature
  • Draft Transfer
  • Advise you on joint ownership
  • Obtain pre-completion searches
  • 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
Re-mortgage

This is based on a client raising a mortgage of £400,000 on a property based on a value of £600,000.

The cost of a re-mortgage is= £1,699.00

Disbursements
  • Mellor’s Fees= £1250
  • Searches= £300
  • Land Registry Fees= £60
  • Telegraphic transfer fee= (£30 x2) £60
  • Priority search= £3
  • Bankruptcy search= £2 per name
  • Company search= £24

There might be lenders costs associated with re-mortgaging such as an arrangement fee, server fee and product fee. You should contact your lender or mortgage broker for a full breakdown of costs. Depending on the type of transaction it is possible you may need indemnity insurance (which can include Chancel liability insurance, lack of building regulations, restrictive covenant etc).

How long will my house re-mortgage take?

It will take around 4-6 weeks for a straightforward standard re-mortgage. It may take longer depending on the nature of the property as well as the lenders requirements.
All residential property work will be undertaken by a member of our property team and specialist property Solicitors.

Probate

We appreciate that it is a difficult time dealing with the administration after a loved one has died, especially when you are grieving. We aim to make the process of administering someone’s estate as fast and hassle free as possible.

Who deals with probate?

The Administration of the deceased’s estate is carried out by the Executor who is named in their Will or, if they died without a will (ie.“intestate”), an Administrator. An administrator is usually (but not always) the deceased’s next of kin and is appointed in accordance with the Intestacy Rules.

What is involved in the Administration of the Estate?

If you are the Executor or Administrator of someone’s will, your main duties involve collecting in their assets, paying any debts, taxes and liabilities and then distributing the assets in accordance with the terms of the deceased’s Will or the intestacy rules. This can be a daunting task which is why we offer a service to deal with matters on your behalf. Many clients are grateful for our assistance as it alleviates their stress and lifts a burden from their shoulders at this difficult time.

Procedure for administering an Estate

Stage 1 – Taking your instructions and obtaining all information and documentation relating to the deceased’s affairs.
Stage 2 – Writing to all necessary bodies to obtain full details of the deceased’s assets and liabilities at the date of their death.
Stage 3 – Preparing a “Statement of Truth” (confirming basic details of the deceased and the Executor/Administrator of the estate) and Inheritance Tax forms (detailing the value of all of the deceased’s assets and liabilities at the date of their death).
Stage 4 – Submitting the IHT forms and paying the Inheritance Tax (if it is due) and applying for a Grant of Probate (if there is a Will) or Grant of Letters of Administration (if there is no Will).
Stage 5 – Once the Grant has been issued, collecting in all monies due to the estate and paying all liabilities.
Stage 6 – Advertising for any creditors to come forward and ensuring that all Income Tax and Capital Gains Tax (due either before or after death) is paid
Stage 7 – preparing final estate accounts for approval and then distributing the Estate.

Obtaining a Grant of Probate/Grant of Letters of Administration only

Some clients feel that they are able to deal with the administration of the Estate themselves but would like us to simply obtain the Grant on their behalf. We offer a service to prepare the “Statement of Truth” and prepare the Inheritance Tax forms and then obtain the Grant.

Timescales

It is difficult to say how long it will take to finalise the administration of an estate due to the many different factors involved. However, if no tax is payable it would be usual to complete the administration within 6 to 12 months of death.

If we are instructed simply to obtain the Grant rather than deal with the whole administration of the Estate, we would usually receive the grant within 8 to 12 weeks of taking your instructions though this can be longer if there are any complications (for example in receiving date of death balances from any of the financial institutions).

Costs for Administration of the Estate

We charge a fee of 0.25% plus VAT of any property owned by the deceased (but not if it is owed jointly and automatically passes to the joint owner on death ie. Properties owned as “Joint tenants”).

In addition to this we charge a fee of 1% plus VAT of the total of all other assets (but not if they pass to a joint owner).

Finally, we charge a fee for the time that we spend on the file (details will be provided to you at the beginning of the transaction based on the qualifications and experience of the fee earner dealing with your file).

Typical costs for dealing with a small estate where the house is in joint names and the deceased had other assets of £50,000 (in only 3 or 4 different accounts) are likely to be between £2,000 plus VAT and £3000 plus VAT depending on the complexity of the file.

Disbursements (charges made by other bodies) are charged in addition to the fees above. The main disbursement is the Probate Registry fee of £155.00 plus a small extra fee for copies (currently 50p each). In some cases newspaper advertisements are required at a cost of around £200.00. If other disbursements are applicable to your case, we will advise you accordingly. There is no VAT to pay on disbursements.

If Income Tax accounts need to be prepared or if Capital Gains Tax is payable, it may be necessary to instruct an accountant to deal with these matters for which we would obtain a quotation and take your instructions before agreeing to proceed.

Costs for obtaining the Grant only

We usually charge a fixed fee for this service of between £500-£750 plus VAT (so long as the more complicated Inheritance Tax forms need completing). The costs depend on the circumstances of each case. For example, costs may be nearer £750 plus VAT if one or more of the named Executors don’t want to be involved in the administration of the Estate and they need to “renounce”, or if there are many financial institutions involved. In addition to our fee, there will be a disbursement of £155 to the Probate Registry (and 50p for each extra copy). If other disbursements are applicable to your case, we will advise you accordingly. There is no VAT to pay on disbursements.

The Team

There are two fee earners who deal with matters in the Probate department. They are both supported by assistants.

The fee earner in the Oldham centre office (and the head of the private client department) is Lisa Oldham. Lisa is a Solicitor who qualified in 1994 and has been dealing with Probate matters for the past 7 years (formerly having dealt with conveyancing). Her assistant is Karen Buckley

The fee earner in the Royton office is Adele Hallam. Adele has lived in Royton all her life and is a probate executive (no formal qualification) who has been dealing with Probate matters for the past 18 years. Her assistant is Joyce Newman.

Call us on 0161 624 0387 to receive expert advice from one of our specialist lawyers on a no win no fee basis.

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