Pricing Guidelines

Probate

Our costs for applying for the grant and administering a simple estate will generally be between 1% and 1.5% of the value of estate plus VAT plus disbursements. These are purely a guideline, in order to provide you with an idea of the likely range of charges for a simple estate administration.

An example of a simple estate is where:

The deceased left a valid will with three beneficiaries
Owned one property and up to 3 bank accounts but had no other intangible assets
The deceased did not own any foreign assets or have an interest in a trust
The deceased did not make any lifetime gifts which require reporting to HM Revenue & Customs
Inheritance tax is not payable and the executors do not need to submit a full account to HM Revenue & Customs
No claims are made against the estate
We are not asked to register the death, arrange the deceased’s funeral or clear the deceased’s property.

We will handle the fill estate administration process for you. The stages involved in the administration of a simple estate vary according to the circumstances, but below are the usual key stages:

Take your instructions and give you initial advice
Obtain Probate valuations
Prepare a short form inheritance tax return (IHT205)
Apply for the Grant of Representation
Encash the assets of the estate*
Pay debts and expenses
Prepare an Estate Account
Distribute the estate.

*Please note this does not include the costs of conveyancing in relation a property. A separate charge will be made for conveyancing work and we will be more than happy to provide you with a full cost estimate for this work.

The exact cost will depend on the individual circumstances for the matter. For example, if there is one beneficiary, the estate is of a lower value, and there is only one bank account then 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. Please also contact us to discuss obtaining a more detailed cost estimate as we are more than happy to discuss the likely costs

Disbursements are costs related to the estate administration that are payable to third parties.

The disbursements payable will include:

Probate application fee of £158
£7 Swearing of the oath (£5 per executor)

Disbursements are costs related 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.

If the estate administration proves to be more complex or time consuming than first envisaged due to factors of which we were unaware, or our instructions change, or if additional work and advice are required, we will revise our costs accordingly. We charge on a time basis and the hourly rates of the team members who may be involved in the estate administration.

Complex estates

Any estate which does not fall within the definition of the simple estate as set out above, is regarded as a complex estate and our fees may exceed the above guidelines. Fees for complex estates will be charged on a time basis. The exact costs for the administration of a complex estate will depend on the value of the estate and the time incurred.

Hourly rates

James Baird’s hourly rate £201 per hour and Nicholas Baird’s hourly rate £146 per hour

Purchase of a freehold residential property – pricing guideline

Our fees for a typical residential purchase range from on average around £350 plus VAT to around £695 plus VAT.

These figures vary depending upon the circumstances of the transaction and we will always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase. In some transactions the factors involved would indicate our fees will be higher than this price range. If you would like a free, no obligation quotation please do not hesitate to get in touch. We will provide you with a detailed quotation at the outset of the matter, before we proceed with any work.

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Disbursements and other costs

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements and other costs we anticipate will apply are set out below. This list is not exhaustive and other disbursements may apply.

Search fees in the region of £250 to £300 (plus VAT where applicable)
HM Land Registry fee – this is a scale fee set by the Land Registry and will depend upon the value of the property.
Electronic money transfer fee (per transfer) £40 plus VAT.
Bank fee of £12
Stamp Duty Land Tax Return fee of £50 plus vat
Indemnity contribution of £40

For leasehold properties the following disbursements will also be payable: –

Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is approximately £150.

Notice of Charge fee — This fee is set out in the lease. Often the fee is approximately £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 £150 and £250.
Certificate of Compliance fee – To be confirmed upon receipt of the lease. Often the fee is approximately £150.

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.

If the work you have asked us to do proves to be more difficult or time consuming than we first envisaged because of factors of which we are currently unaware, or should your instructions change, or if you require additional work and advice, we will need to revise our estimate. In such circumstances we will inform you of the estimated cost of the extra work and any additional expenditure before incurring extra costs.

Stamp Duty or Land Tax (on purchase)

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.

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 6-10 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a cash buyer purchasing a freehold property, it could take 6-8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to 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 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
Complete purchase
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry

Our fee assumes that:

This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
The transaction is concluded in a timely manner and no unforeseen complication arise.
All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
The property is not leasehold
The property is not particularly high value, and there are no unusual title issues.

Sale of a residential property – pricing guideline

Our fees for a typical residential sale range from around £350 plus VAT to around £695 plus VAT.

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.

Disbursements and other costs

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We will handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements and other costs we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply.

Land Registry copy title documents £7 plus VAT (approx.)
Electronic money transfer fee (per transfer) £40 plus VAT
Bank Fee £12
Indemnity Contribution £40

Stages of the process

The precise stages involved in the sale of a residential freehold property vary according to the circumstances, but below are the usual key stages:

Take your instructions and give you initial advice
Arrange for you to complete standard property information forms
Obtain and review title documents
Prepare draft contract and issue to buyer’s solicitor
Obtain redemption statement from your lender (if applicable)
Take your instructions on and respond to any additional enquiries raised
Send final contract documents to you for signature
Agree completion date (date from which you move out of the property)
Exchange contracts and notify you that this has happened
Complete sale
Arrange for existing mortgage to be repaid (if applicable)
Liaise with estate agent throughout and arrange settlement of their commission account on your behalf.

* Our fee assumes that:

This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction.
The transaction is concluded in a timely manner and no unforeseen complication arise
All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

How long will my sale take?

How long it will take from accepting your buyer’s offer to completing the sale 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