Our Pricing

How long will my house take to purchase?
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 to 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 more than 12 weeks. Plesae note we do not deal with leasehold matter.

Stage of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages for your purchase for your information:

• • 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

• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

• Land Registry fees – these will vary and please follow this link for more information: http://landregistry.data.gov.uk/fees-calculator.html
• Searches will usually cost between £300 to £500 per property.
• Lawyer Check – check on other solicitors £10 + VAT charged at 20%
• If you are buying a leasehold or share of freehold property, the following may apply: Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 to £150. Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 to £150. 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 £100 to £200. Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £100 to £200. 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.

• 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. Please follow this link for more information: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

• Fees of between £10 to £50 for a copy of your legal title and any leases.
• Fees of between £100 to £450 for a pack from your management company if you are selling a leasehold or share of freehold. We will not know this amount until we have contacted your management company.

• Land Registry fees – these will vary and please follow this link for more information: http://landregistry.data.gov.uk/fees-calculator.html
• Searches will usually cost between £300 to £500 per property. In some situations, indemnity insurance can be obtained instead. This will depend on your lender’s instructions. Indemnity insurance is considerably cheaper than searches.

How long will it take to complete the administration process? 

This will generally depend on a number of factors including the extent, the location and the nature of the assets held by the deceased person at the time of death and the time taken to ascertain the probate value in respect of the same. For instance the administrative duties of an estate with one or two bank accounts, a property in the United Kingdom and one or two beneficiaries could take between 3 to 6 months to complete, whereas an estate with a range of different type of assets, some of which need to be sold to settle outstanding debts could take a minimum of 8 to 12 months.

PROBATE PRICING INFORMATION

Applying for the grant, collecting and distributing the assets

Due to the nature of Probate work and varying circumstances our fees are estimates and we advise you to contact us for your bespoke quote.

As a guide, we have provided examples of our likely costs for a very simple estate where inheritance tax is not payable (Example 1 below), and a slightly more complex estate where a charge to inheritance tax arises (Example 2 below). We have also outlined disbursements typically incurred during a probate, which are in addition to our charges for legal advice, as well as factors which may make the administration of an estate more complex.

Our charges are based on the time it takes to administer an estate for you. We do not charge an additional ‘value element’ based on the value of the estate involved. Day-to-day work will usually be managed by an associate with a partner overseeing the administration as a whole. Rates ranging from £300 (for a junior associate) to £400 (for a senior partner) per hour + VAT charged at 20%.

Our estimated fees for each example are shown below, but the exact figure will depend on the circumstances.

Example 1: Fees range between £4,500 to £10,000 + VAT charged at 20% and disbursements

This estimate is for estates where:

• The deceased was UK domiciled.
• There is a valid will.
• All the assets are in the UK.
• There is no more than one property or one share in a property which is registered at HM Land Registry. (This does not include the costs of sale).
• There are no more than four bank or building society accounts.
• There is no more than one portfolio of shares managed by a single investment manager.
• There are no other intangible assets.
• Valuations of assets and liabilities are straightforward.
• There are up to five cash legacies given outright to beneficiaries (no trusts apply).
• There are up to three residuary beneficiaries (no trusts apply).
• Beneficiaries have all been identified and traced.
• There is no inheritance tax payable and the executors do not need to submit a full account to HMRC.
• There are no lifetime gifts which were made by the deceased which are reportable to HMRC.
• There are no claims made against the estate.
• There are no disputes between beneficiaries on the division of assets or other disputes involving either executors or beneficiaries. If disputes arise this is likely to lead to an increase in costs.

Our costs for dealing with the above estate are likely to range between £4,500 to £10,000 + VAT charged at 20% and disbursements. The time required to complete the administration would usually be between 15 to 25 hours.

Example 2: Fees range between £25,000 to £60,000 + VAT charged at 20% and disbursements

This estimate is for estates where:

• The deceased was UK domiciled.
• There is a valid will.
• All the assets are in the UK, or up to two non-UK assets for which the valuation figures (including conversion into GBP) are readily available.
• There are no more than two property interests which are registered at HM Land Registry. (This does not include any costs of sale or transfer).
• There are no more than eight bank or building society accounts.
• There are no more than two portfolios of shares managed by not more than two investment managers.
• There are no other intangible assets.
• Valuation of assets and liabilities are straightforward.
• There are up to ten cash legacies given outright to beneficiaries (no trusts apply).
• There are up to five residuary beneficiaries.
• Beneficiaries have all been identified and traced.
• Executors need to submit a full inheritance tax return to HMRC.
• There is inheritance tax payable and reliefs may be claimed. Any negotiations over valuations with HMRC are resolved swiftly and do not become protracted.
• There are lifetime gifts made by the deceased and these are straightforward to report to HMRC.
• There are no claims made against the estate.
• There are no disputes involving either beneficiaries or executors.

Our costs for dealing with the above estate are likely to range between £25,000 to £60,000 + VAT charged at 20% and disbursements. The time required to complete the administration would usually be between 45 to 100 hours.

The exact cost incurred in respect of the matter will really depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

The cost will also depend on the extent of assistance required by you in respect of this matter.

Disbursements

Disbursements are costs related to your matter which are payable to third parties, such a court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

We will also ask for a payment on account to cover basic disbursements. The usual amount requested is £1,000.

Examples of the most common disbursements are listed below:

• Probate application fee – £273
• Copies of the Grant (if required) – £1.50 per copy at the date of the main application and £10 per copy thereafter
• Bankruptcy only Land Charges Department searches – £3 per beneficiary
• Advertisement in The London Gazette to protect against unexpected claims from unknown creditors – £200 (approx.) + VAT charged at 20%.
• Advertisement in a local newspaper to help protect against expected claims – £200 (approx.) + VAT charged at 20%.

Potential additional costs

Additional costs are likely to apply where:

• The deceased was not UK domiciled or was deemed UK domiciled, this will usually require investigation and careful reporting.
• Estates where the deceased had assets or liabilities in multiple jurisdictions.
• The deceased held business interests or agricultural property.
• Dealing with an intestate estate (where the deceased did not leave a Will).
• If the estate consists of any shareholdings (stocks and bonds) that are not managed by an investment manager there are likely to be additional costs that could range significantly depending on the estate and how it is to be administered. We can give you a more accurate estimate once we have more information.
• Costs incurred in dealing with the sale or transfer of any property in the estate are not included.
• Inheritance tax, income tax and capital gains tax, if relevant, will be additional costs for the estate to settle.
• Although we shall advise on inheritance tax issues, any additional tax advice (for example, income tax and capital gains tax) will be provided only where specifically agreed.
• If the deceased held assets in multiple names, this may give rise to additional costs.
• If the deceased was entitled to benefit from trusts during their lifetime or was entitled to an inheritance from an estate which had not yet made a distribution, this will usually lead to increased costs.
• If beneficiaries wish to vary their entitlement to the estate, this will be charged separately.

How long will this take?

It is difficult to estimate accurately how long the probate and estate administration process will take to complete, as we are dependent on third parties (notably HMRC and the Probate Registry) at crucial stages of the matter.

We have, however, set out below all of the steps that are usually followed when dealing with probate matters and provided an estimate of the time periods that are likely to be incurred at each stage of the process.

For a straightforward estate where there is no need to complete a full inheritance tax account, we would usually expect an average estate administration to take between 8 to 12 months.

For a simple matter, such as Example 1 above, we would hope to collate all necessary information within 2 to 3 months and would then submit the probate application. The grant can take 8 to 12 weeks to be issued by the probate registry (on September 2021 timings). Collection and/or transfer of assets can then take a further 2 to 4 months. After this, we can distribute the assets, which normally takes a further 2 to 4 months.

The timeframe for a taxable matter can be longer, as there are additional steps which need to be accommodated. For example, the grant application process is made in two separate steps: first, the payment of inheritance tax must be arranged and the inheritance tax return filed; then we must wait 20 working days before the second step can be taken, to lodge the grant application itself with the probate registry.

Dealing with a relatively straightforward taxable estate will usually take between 12 to 24 months, but more complex estates (for example, those which may involve protracted negotiations with HMRC or involve multiple trust structures) can take a number of years to resolve.

Inheritance Tax – six months

Inheritance Tax has to be attended to as a priority. For this to occur, executors, estate  administration solicitors and other parties should ensure that the information pertaining to the estate, its value, its assets and liabilities is collated and provided as accurately as possible.

Inheritance Tax should be paid within six months from the date of death and failure to achieve this timescale may result in the estate’s executors or administrators becoming liable for penalties and interest.

The Executor’s Year

The “Executor’s year” is designed to give executor’s sufficient time to deal with estate assets and liabilities and to draw up accurate accounts before distributing the funds to beneficiaries. As such, personal representatives are not bound to distribute the estate until one year after the death.

Because of this, gifts of money usually only attract interest one full year from the date of death. On average estates take between six and twelve months to fully complete. However, in more complex and/or contentious cases, the process may take significantly longer. In extreme cases, it may take as many as two or more years to reach conclusion.

Please note that while our pricing information seeks to ensure that you have the information you need to make an informed choice of legal services provider, including understanding what the likely costs may be, it is only indicative, and you will be provided with more precise and personalised costs information should you decide to instruct us.

Please contact our team who will be happy to provide a “no obligation” quote based on an estimate of the work involved in your matter.

How long will it take to complete the process involved?

Lasting Powers of Attorney (LPA) matters involve a two-stage process. The initial stage involves ascertaining the relevant details and preparing the LPA documents for registration whilst the second stage involves the registration of the LPAs with the Office of Public Guardian (OPG). 

Our private client team should be able to get in touch with you within 48 hours of receiving your initial enquiry and then take immediate steps to confirm your instructions and collect all the relevant information required to complete the relevant LPA forms soon afterwards. 

Once our team has received all of the relevant information from you, they should be able to complete the forms required within a week thereafter. The forms will then be sent to the Donor and the Attorneys for their signatures. 

Our private client team will then aim to submit the LPAs to the OPG within 48 hours of receiving all the signed forms back from the Donor and each of the Attorneys.

At present, the OPG could take anything between 6 to 8 weeks to complete the registration process.

Fees

Our fees for preparing the LPA documents and notices and providing any advice about them are as follows: 

• £350 + VAT charged at 20% for LPA on Property and Financial Affairs
• £350 + VAT charged at 20% for LPA on Health and Welfare and
• £650 + VAT charged at 20% for the combined LPAs

The Office of Public Guardian (OPG) will charge a fee of £82 per LPA. This fee is payable directly to the OPG.

Please contact our team who will be happy to provide a “no obligation” quote based on an estimate of the work involved in your matter.

How long will it take to complete the creation of a trust? 

The creation of a valid trust involves two stages. The first stage will be to prepare the trust document whilst the second stage concerns the transfer of the asset/s into the trust. 

The time required to prepare the trust document will depend on the nature of the trust, the functions it is expected to carry out and the extent of the assets that are to be included in it. Once your instructions in respect of these aspects of the matter have been finalised, our private client team should be able to prepare the relevant trust document/deed within a week thereof. 

The extent of the time required to transfer an asset into the trust will depend on the nature and location of the asset. Our private client team should be able to provide an estimate of this during the initial meeting. 

Fees

This will depend on the circumstances, but our starting fee is £1,250 + VAT charged at 20% (£1,500 gross) for the preparation of a Discretionary Trust.

Please contact our team who will be happy to provide a “no obligation” quote based on an estimate of the work involved in your matter.

How long will it take to finalise this matter?

Before the process begins, our team will arrange to have a chat with you over the telephone to make an assessment of the areas that need to be covered in the Will or the advice provided about the Will. Our team will also confirm the fees.

The actual process of preparing the Will usually consists of two meetings in person. 

If, at the end of the initial chat, you are happy to proceed with the Will matter, our team will arrange set up the initial meeting to take place as soon as practicable 

Fees

Our fees for a single Will starts at £250.00 + VAT charged at 20%.

The fees for a Will also depend on the areas that need to be covered in the Will, the extent and location of the assets and liabilities of the estate, how long or how quickly the Will is to be finalised, whether it includes any trusts and the IHT implications involved.

Debt recovery for businesses up to the value of £100,000

Fees

• Our fees in these matters typically range from £750 plus VAT upwards depending on particular aspects of your matter.

Disbursements

• You will also have to pay court fees and barrister’s fees in addition to our fees. Court fees can be found at https://www.gov.uk/make-court-claim-for-money/court-fees.

Typical timescales and key stages

• This will depend on the type of case and whether it is dealt with in the court, tribunal or another forum. Typically, cases can take around 12months before your matter reaches a conclusion.

Experience and qualifications of litigation staff

• Parvien Akhtar is head of our Litigation & Dispute Resolution Department and qualified as a solicitor in 1998 and has extensive litigation experience

If proceedings are required, then we charge on an hour rate of £375 per hour + VAT charged at 20% and court fees to prepare and issue a money claim online and to enter a default judgment.

If the case is defended then we charge costs on a time recorded basis at an hourly charge-out rate of between £180 to £375 per hour + VAT charged at 20% and disbursements which may include counsel’s fees.