Our Fees

 
 
 
 
 

Conveyancing Fees

 

Due to the wide variety of circumstances surrounding property transaction we would prefer to discuss your specific circumstances and transaction so please telephone us on 0208 363 8341. When you contact us we will provide you with a written estimate of fees specific to your transaction with no hidden charges.

 

One person will be allocated to your matter from the outset and you will have a single point of reference throughout the transaction.

 

We are accredited members of the Law Society Conveyancing Quality Scheme (CQS) and carry out our work to the highest standards.

 

Sale of Residential Freehold

 

Our Fees

 

Legal fees for acting on your behalf £750.00 - £2,000 plus VAT

 

Legal Fees for dealing with redemption of your mortgage 150.00 to £250.00 plus VAT

 

VAT payable on our sale fees £150.00 to £400.00

 

VAT payable on redemption of mortgage £30.00 to £50.00

 

Estimated total Fees including VAT with mortgage to redeem £1,080.00 to £2,580.00

 

 

Disbursements

 

These are costs relating to the transaction which are payable by us to third parties. These include:-

 

Land Registry Fees for obtaining copies of your deeds and any documents referred to on them. These are £3.00 per item. Estimate £12.00 in total plus VAT of £2.40.

 

Bank charges (per bank transfer) £12.00 plus VAT of £2.40.

 

We do not make any separate charges for client identification checks, professional indemnity insurance or postage.  

 

The fees quoted above assume that:-

 

The matter proceeds in a straightforward manner and that there are no issues such as defects in title which need to be dealt with.  If defects in title are identified then indemnity policies may be required.   The costs of these will depend on the nature of the defect and you will be advised of any that may become necessary during the course of the transaction.  We do not receive any commission for arranging such policies.

All parties to the transaction proceed in a diligent manner without undue delay.

 

Purchase of residential freehold

 

Our Fees

 

Legal fees for acting on your behalf £795.00 - £2,500 plus VAT

 

Legal Fees for acting on behalf of the mortgage or Lender £200.00 to £500.00 plus VAT

 

VAT payable on our costs for purchase with a mortgage £199.00 to £700,00.00

 

Estimated total fees including VAT for a purchase with a mortgage £1,194.00 to £4,200.00

 

Disbursements

 

Disbursements are expenses we have to pay relating to third parties relating to the transaction.  We do not receive any commission on any of these items.  They are items such as:-

 

Local Authority, Water, Environmental Search Fees £250.00

Chancel Indemnity Premium £20.00

Land Registry Search Fees £3.00 + VAT

Bankruptcy Search Fees (per Name) £2.00 + VAT

Bank Transfer Charges (per transaction) £12.00 plus VAT of £2.40

 

We do not make any separate charges for client identification checks, professional indemnity insurance or postage

 

Stamp Duty Land Tax

 

In addition, Stamp Duty Land Tax is sometimes payable. This depends on whether you are first time buyers, have an interest in any other property worldwide, the purchase price of the property and whether you are replacing your main residence with the purchase.

 

You can calculate the amount you need to pay by visiting the following link https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

 

Land Registry fees are also payable to register you as the new owner of the property and details of any mortgage you may have.   These fees are based on the purchase price of the property and the amount of the mortgage if any you are obtaining. These fees can be calculated by visiting the Land Registry website at the following link http://landregistry.data.gov.uk/fees-calculator.html

We have the technology to enable us to submit applications to the Land Registry electronically so the lower of the two fees shown on the website is generally payable except where the property is being registered for the first time separately.

 

Sale of Leasehold Residential 

 

Our Fees

 

Legal fees for acting on your behalf £750.00 - £2,000 plus VAT

 

Legal Fees for dealing with Redemption of your mortgage £150.00 to £250.00 plus VAT

 

VAT payable on our fees £150.00 to £400.00

 

VAT payable on Redemption of mortgage £30.00 to £50.00

 

Estimated total Fees including VAT with mortgage to redeem £1,080.00 to £2,580.00

 

Disbursements

 

Disbursements are expenses we have to pay relating to third parties relating to the transaction.  We do not receive any commission on any of these items.  They are items such as:-

 

Land registry copy deeds 15.00 plus VAT

 

Bank transfer charges £12.00 plus VAT

 

Management Company/Landlords Information Packs £100.00 to £500.00 plus VAT

 

We do not make any separate charges for client identification checks, professional indemnity insurance or postage

 

Assumptions

 

The fees quoted above are based on the following assumptions: -

 

The matter proceeds in a straightforward manner and that there are no issues such as defects in title which need to be dealt with.  If defects in title are identified then indemnity policies may be required.   The costs of these will depend on the nature of the defect and you will be advised of any that may become necessary during the course of the transaction.  We do not receive any commission for arranging such policies. 

All parties to the transaction proceed in a diligent manner without undue delay.

 

 

Purchase of Residential Leasehold

 

Our fees for acting for you £995.00 to £2,500.00 plus VAT

 

Costs for dealing with your mortgage £200.00 to £500.00 plus VAT

 

Disbursements

 

Local Authority, Water, Environmental Search Fees £250.00

Chancel Indemnity Premium £20.00

Land Registry Search Fees £3.00 plus VAT

Landlords Registration Fees (Depending on the Property) £100.00 to £400.00 plus VAT

Bankruptcy Search Fees (per Name) £2.00 plus VAT

Bank Transfer Charges (per transaction) £12.00 plus VAT of £2.40

 

We do not make any separate charges for client identification checks, professional indemnity insurance or postage

 

In addition, Stamp Duty Land Tax is sometimes payable. This depends on whether you are first time buyers, have an interest in any other property worldwide, the purchase price of the property and whether you are replacing your main residence with the purchase.

 

You can calculate the amount you need to pay by visiting the following link https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

 

Land Registry fees are also payable to register your as the new owner of the property and details of any mortgage you may have.   These fees are based on the purchase price of the property and the amount of the mortgage if any you are obtaining. These fees can be calculated by visiting the Land Registry website at the following link http://landregistry.data.gov.uk/fees-calculator.html .  

 

We have technology to enable us to submit applications to the Land Registry electronically so the lower of the two fees shown on the website is generally payable except where the property is being registered for the first time separately.

 

The above fees are stated on the following assumptions:-

 

 

The matter proceeds in a straightforward manner and that there are no issues such as defects in title which need to be dealt with.  If defects in title are identified then indemnity policies may be required. The costs of these will depend on the nature of the defect and you will be advised of any that may become necessary during the course of the transaction. We do not receive any commission for arranging such policies.

All parties to the transaction proceed in a diligent manner without undue delay

No licence to assign, deeds of covenant or share transfers are required under the lease. If these are necessary we will charge £150 plus VAT per document required.

 

Fees for remortgage of residential properties

 

Due to the wide variety of circumstances surrounding property transactions we would prefer to discuss your specific circumstances and transaction so please telephone us on 0208 363 8341. When you contact us we will provide you with a written estimate of fees specific to your transaction with no hidden charges.

 

One person will be allocated to your matter from the outset and you will have a single point of reference throughout the transaction.

 

We are accredited members of the Law Society Conveyancing Quality Scheme (CQS) and carry out our work to the highest standards.

 

Our fees for acting on the new mortgage - £400 to £750.00 plus VAT

Legal fees for dealing with redemption of existing mortgage - £150.00 to £200.00 plus VAT

VAT payable on our fees - £80 to £150.00           

VAT payable on redemption of mortgage - £30.00  to  £40.00

 

Estimated total fees including VAT - £660.00 to £1,140.00

 

Disbursements

 

These are costs relating to the transaction which are payable by us to third parties. These include:-

 

Land Registry Fees for obtaining copies of your deeds and any documents referred to on them. These are £3.00 per item. Estimate £12.00 in total.

 

Bank charges  (per bank transfer) - £12.00 plus VAT of £2.40.

Searches (if required by new lender) - £250.00

Indemnity search insurance (if acceptable to new lender) - £14.00 to £150.00

Land registry search fees (per title) - £3.00 plus VAT

Bankruptcy search fee (per borrower) - £2.00 plus VAT

If leasehold, landlord’s registration fees - £60 to £200.00

 

Land registry fees

 

Land Registry fees are also payable to register details of the new mortgage you may have. These fees are based on the purchase price of the property and the amount of the mortgage if any you are obtaining. These fees can be calculated by visiting the Land Registry website at the following link http://landregistry.data.gov.uk/fees-calculator.html . We have technology to enable us to submit applications to the Land Registry electronically so the lower of the two fees shown on the website is generally payable except where the property is being registered for the first time separately.

 

We do not make any separate charges for client identification checks, professional indemnity insurance or postage.  

 

The fees quoted above assume that:-

 

The matter proceeds in a straightforward manner and that there are no issues such as defects in title which need to be dealt with. If defects in title are identified then indemnity policies may be required. The costs of these will depend on the nature of the defect and you will be advised of any that may become necessary during the course of the transaction. We do not receive any commission for arranging such policies.

All parties to the transaction proceed in a diligent manner without undue delay.

No other security such as personal guarantees, share transfer forms,  are required by the lender. 

No formal consent to mortgage is required under the terms of any lease.

The estimates are for a mortgage of an individual property.

 

Wills & Probate fees

 

Our Fees

 

We provide a service which is personal to you and we consider each case on the basis of individual circumstances when estimating costs for this type of work.   


Fees for Grant only application

 

In a straightforward estate in which we are being instructed only to obtain a grant of probate or letters or administration, the executors having already valued the assets themselves we would charge as follows:
    
No full inheritance tax account required     £800 - £1,200 plus VAT
    
Full inheritance tax account required    £1,200 - £1,800 plus VAT
    

Fees for full Administration of Estates

 

If you require a full service in which we assist you with all aspects of an estate administration then we charge for this work on an hourly rate of £220/£200 per hour (dependant on the experience of the Solicitor instructed).

 

In administering the estate we would be routinely obtaining the value of assets in the estate, preparing the appropriate forms concerning inheritance tax, applying for the grant, collecting in assets and distributing the estate in accordance with the Will or intestacy rules. 

 

A simple example of our charges would assume a scenario as follows: 
•    There is a valid Will and no Codicils
•    There is no more than one property in the deceased’s name
•    There are no more than 3 bank/building society accounts
•    There are no other investments
•    There are 1-2 beneficiaries 
•    There are no more than 2 UK resident executors who are able to act
•    There are no disputes between beneficiaries on division of assets
•    There is no inheritance tax payable
•    There is no other reason for the executors to submit a full inheritance tax account to HMRC
•    There are no claims made against the estate

 

In these circumstances our fees would usually be in the region of £2,500 - £6,000 plus VAT. 


The exact cost will depend on the individual circumstances of the matter charged at our hourly rates. 

 

Disbursements

 

In addition there may be disbursements to pay. These are costs which relate to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. 
 
Likely disbursements in an estate administration matter are as follows: 


•    Probate Registry fee                                      £150.00
•    Copies of grant                                              £1.50 each
•    Bankruptcy searches                                     £2.00 each plus VAT (UK resident beneficiaries)
•    Land Registry search                                     £3.00 plus VAT per property
•    Will Search                                                    £108.00 (to search for a Will or later Will)
•    Landmark assets search                                 £162.00 (to trace unknown assets)
•    Statutory advertisements (for creditors)        £185.00 (approx) (to advertise for creditors & protect against unexpected claims)

 

Potential additional costs

 

We will be able to give you a more accurate estimate of our costs and relevant disbursements in your case when we are aware of your own specific circumstances and wishes.

 

The work that we are instructed to undertake varies considerably from one estate to another and some complicating factors may be as follows:

 

•    There may be concerns about the validity of a Will 
•    There may be no Will 
•    The type of assets eg. shares, stocks, bonds
•    There may be a considerable number of assets with different financial organisations
•    There may be a considerable number of beneficiaries
•    A beneficiary may need to be traced or identified
•    There may be property or beneficiaries overseas
•    There may be areas of dispute between the executors/beneficiaries
•    A trust may have been created in the Will or by the intestacy rules
•    An estate may be insolvent
•    An estate may be solvent but unable to meet all the gifts left in the Will 
•    There may be concerns about inheritance tax, income tax and capital gains tax issues
•    Beneficiaries may wish to enter into a deed of variation to change the effect of a Will or the outcome of the intestacy rules
•    It may be necessary to register the estate with HMRC as a Complex Estate for income tax purposes

 

This is not an exhaustive list but gives an idea of factors which we commonly encounter in assisting clients with administering estates that mean the work can become more complex and accordingly costs will increase. Our fees in a more complex estate administration are likely to be in the region of £6,000 - £15,000 plus VAT. 

 

Most cases that we deal with would be covered by the price brackets indicated above. In unusual circumstances it is possible for our fees to exceed these estimates.  

 

Please note that any conveyancing costs will be charged for separately.
 
The fees estimate would not include the preparation of income tax returns for tax years up to the date of death. 

 

How long will this take?

 

Usually an estate administration can be completed within 4-6 months for a straightforward estate, or between 8-12 months where the estate is more complex but no matter is in dispute, there are no beneficiaries to trace and we are not being asked to deal with overseas assets or beneficiaries. The time it takes to obtain a grant of probate depends largely on how quickly we can obtain the relevant information to value assets in the estate.

 

Personal Representatives may also choose to wait to make final distributions of estate assets until a period of 10 months has elapsed from the date of the grant to ensure that no one has made a claim for financial provision from the estate. If the Personal Representatives have distributed prior to this date, they could become personally liable to the estate for any loss. 

 

Please Note:

 

We do not charge an uplift on our hourly rate.

 

In most cases we do not charge a different rate when this firm are appointed as Executors unless (unless there are some complicating factors that make the estate administration more high risk, which we would discuss with you if relevant.

 

If our retainer is terminated part-way through a transaction then we will charge for work done based on our hourly rate. 

 

If you would prefer that we charge on a fixed fee basis, taking a percentage of the estate, then we are prepared to discuss this with you.  We do not offer this means of charging in every case. 

 

Please contact us for a fees estimate tailored to your circumstances. 
 

 

Telephone - 020 8363 8341 Fax - 020 8367 7440

Email - mail@shepherd-harris.co.uk

Shepherd Harris & Co is the trading name of Shepherd Harris & Co Ltd a Limited Company in England and Wales, Registered No. 09132551

Its registered office is at 96 Silver Street, Enfield, Middlesex, EN1 3EL. Solicitors Regulation Authority No. 614728.

Also situated at : - 99-101 Crossbrook Street, Waltham Cross, EN8 8JR

© 2020 by Shepherd Harris & Co. / Created by Adrian Bullock

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