Our charges will be dependent upon the purchase or sale price of the property with our minimum fee being £400 plus VAT for properties up to £100,000.00. Where the price does not exceed £300,000.00 then our fees will be £600.00 plus VAT. Prices in excess of £300,000.00 will be £750.00 plus VAT
In addition there will be disbursements in connection with your sale such as copies of your title from H M Land Registry which currently costs £3.00 per document. In connection with a purchase the disbursements will include environmental, coal authority, drainage and Local Authority searches which in Neath Port Talbot currently cost approximately £200.00 although the actual cost will depend upon the geographical location of the property concerned. The search costs will include VAT where applicable.
In addition on a purchase you will have to pay Land Registry fees and this will be dependent upon the purchase price. Where you are purchasing property as a New Build from a Developer or are using the Help to Buy Scheme, Shared Equity or Affordable Housing then different fees will apply. Full details with regard to all the fees and disbursements you will incur will be fully listed in our client care letter which we will send to you at the outset of a transaction and which you will be requested to sign before we undertake any work.
Where we are dealing with a Re-Mortgage not involving a purchase our charges will be £350.00 plus VAT and in addition you will have to pay the relevant search fees required by the Lender and the relevant Land Registry Fees, full details of which will be provided in our initial client care letter.
On a purchase the completion monies have to be sent by bank transfer to the sellers’ solicitors for which the bank charges a fee of £15.00 which will have to be paid by you.
On a sale, if there is a mortgage to redeem, again a bank transfer fee of £15.00 is payable.
The fees we charge are fixed unless a transaction becomes particularly complex or difficult then we reserve the right to make further charges and in those circumstances we would discuss the matter with you beforehand.
We will submit all relevant searches and raise enquiries based on the documentation provided and instructions from you and we will investigate the title to the property. We will provide the necessary services required to conclude the transaction involving your sale or/and purchase and to advise you fully thereon.
If you are buying a Leasehold property or if the property is not registered at H M Land Registry then further charges will be incurred as information will be required from the Management Company, and the charge for this (which is payable to the Management Company) is usually in the region of £200 – £300. Additionally if you are purchasing a Leasehold property there will be notice fees payable to the Landlord and the Management Company. We will charge extra for dealing with Leasehold properties, and again we will inform you of such fees beforehand.
You may be required in the event of a sale to supply a Defective Title Indemnity Policy which we can obtain from a third party and we will discuss the cost of the same with you.
It is difficult to estimate the timescale of a typical transaction but in general terms where there is a chain we would expect contracts to be exchanged within six to eight weeks with completion thereafter as agreed.
Our charges for obtaining a Grant of Probate/Letters of Administration only without administration of the Estate, and dependent upon any specific matters that we become aware of having received instructions, will be £500.00 plus VAT and the relevant Probate Registry Fee payable at the time of application. Currently the fee payable is £155.00.
Separately, where we are instructed to deal with the administration of the estate we will charge on the basis of the hourly rate of the Fee Earner concerned for all work carried out in connection with the matter. In addition, we will make a charge of 1% of the value of the estate excluding any property and in respect of any property or land we will charge a fee of 0.5% of the value of the same.
We will provide the necessary services required to obtain Grant of Representation and deal with the administration of the estate and distribution of assets.
It is difficult to be precise but the average cost of dealing with the obtaining of a Grant of Representation (not complex or high value) and administration thereafter would be in the region of £3,000.00 to £6,000.00 exclusive of VAT and disbursements.
With regard to timescales it is totally dependent upon the complexity of the matter but in straight forward cased we would estimate that the administration could be completed within six to eight months. If we are only instructed to obtain the Grant of Representation it is dependent upon the time taken by the Probate Registry to complete the application once submitted and we would estimate a time period in the region of two months.