Transparency in price and service

This page sets out details of our costs in two areas of our practice:

• residential conveyancing for members of the public; and
• debt recovery, up to £100,000.

If you would like details of our fees in any of our other areas of practice, please contact the head of the relevant department from the People page of our website.

Please always contact us to discuss fees in relation to particular work.

Sale or Purchase of a residential property

Minimum Fees

Other than in exceptional circumstances, we do not undertake residential conveyancing for members of the public where the value of the property is less than £5,000,000.  Our fee for dealing with the sale or purchase of a residential property is 0.5% of the price subject to a minimum fee of £7,500 plus VAT (£1,500) per property. For a re-mortgage, our fee is 0.5% of the lender’s valuation of the property subject to a minimum fee of £7,500 plus VAT (£1,500). A further fee will be charged for dealing with and advising in respect of any mortgage requirements, with a minimum additional fee of £2,500 plus VAT (£500).

Hourly Rates

The basis for charges is often based on the time involved and our hourly rates. Our hourly rates range depending on who is involved. Details of our hourly rates are included in our engagement letter and terms of business. In working on any matters, our fee earners will be applying their individual hourly rates; these hourly rates range from £100 to £595 plus VAT. All fees and most disbursements attract VAT at the rate from time to time in force. Currently VAT is an additional charge of 20%.

Costs Estimates

We will provide an individual cost estimate at the start of the transaction, taking into account the actual features of your purchase, including:

• property value
• timing
• complexity
• known risks
• value
• funding arrangements; and
• other matters we may raise as part of our engagement letter.

Scope of Work

We will promptly advise you of any changes, when known, to the scope of work and discuss any impact on the estimated fees before any such additional fees are incurred. Examples of factors which could increase the fees include:

• dealing with any disputes
• leasehold properties
• the consequences of any delayed completion (whoever is the cause of the delay)
• any issues with defective titles
• re-negotiating the commercial terms
• resolving any defects in title which are identified in the transaction
• Help to Buy
• new build
• conditional contracts (e.g. subject to planning and/or practical completion of a new build property)
• other matters which are not usual for routine conveyancing transactions
• unregistered property
• short timeline for exchange and/or completion
• overseas buyers
• company purchasers or sellers
• properties with tenants
• conditional contracts; and
• short leases.

What our Fees Cover

Our fees will cover all the work required to complete the purchase, excluding any tax advice, including:

• submission of your Stamp Duty Land Tax (SDLT) return
• payment of the SDLT to HM Revenue and Customs (HMRC); and
• dealing with Land Registry registration.

Our fees will, if specifically stated as part of the engagement letter, include acting on behalf of your mortgage lender.

What do the Fees Not Include?

Our fees do not include giving advice on:

• tax
• planning
• construction matters
• any other matters which are outside of the scope of a typical transaction; and
• matters which are specifically excluded as part of the engagement letter.

If you require such excluded advice, we may be able to advise you and discuss the potential impact on the fees before any additional charges are incurred. Alternatively, we may be able to refer to an appropriate third-party specialist who would charge you a separate fee.

Our fees do not include the preparation of any additional documents ancillary to the main transaction such as:

• a declaration of trust
• private loan arrangement
• shareholders agreement
• other corporate or tax documents
• dealing with any disputes
• the consequences of any delayed completion (whoever is the cause of the delay)
• re-negotiating the commercial terms
• resolving any defects in title which are identified in the transaction; or
• other matters which are not usual for routine conveyancing transactions.

Disbursements

Disbursements are costs payable to third parties, such as Land Registry fees. We will handle the payment of the disbursements on your behalf unless it is suggested otherwise as part of the engagement letter. We will request that funds for these disbursements are sent on account of these costs before they are incurred. We will provide you with a written estimate of these disbursements at the start of a transaction once we have undertaken our initial review of the papers.

Disbursements are payable in addition to our fees. Some examples of more usual disbursements are listed below. (Please note, these are costs/fees of third parties which may vary from time to time):

Purchase

• Search fees: £800 – £1,500 (determined based on the location of the Local Authority and whether any location specific searches are required)
• HM Land Registry: (HMLR) fees are based on a sliding scale linked to the purchase price (£45 – £1,105). The fee scale is listed at https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
• Copying & postage fee: £20 plus VAT (£4)
• Land Registry priority search: £3 plus VAT (£0.60) per title
• Land Registry bankruptcy search: £2 plus VAT (£0.40) per person.

Further and typical disbursements on leasehold properties, payable in addition to the above disbursements include:

• Notice of Transfer fee: chargeable in line with the lease. Often the fee is between £50 – £200
• Notice of Charge fee (if the property is to be mortgaged): this fee is charged in line with the lease. Often the fee is between £50 – £200
• Deed of Covenant fee: This fee is difficult to estimate as it is determined by the management company for the property. Often this fee is between £150 – £300
• Certificate of Compliance fee: To be confirmed upon receipt of the lease; often this fee can range between £100 – £300.

Sale

• Copy title documents: £6
• Electronic money transfer fee: £30 plus VAT (£6) per transfer and £40 plus VAT (£8) for international transfers
• Management pack (leasehold properties only): approx. £400 plus VAT (£80) (this fee is determined by your landlord or those who manage the property on its behalf).

Re-mortgage of residential property

• Copy title documents: £6
• Electronic money transfer fee: £30 plus VAT (£6) per transfer and £40 plus VAT (£8) for international transfers
• Management pack (leasehold properties only): approx. £400 plus VAT (£80) (this fee is determined by your landlord or those who manage the property on its behalf)
• Search fees: £800 – £1,500 (determined based on the location of the Local Authority and whether any location specific searches are required)
• 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 – £100
• HMLR fees are based on a sliding scale depending on the purchase price and will not normally exceed £60 (or £120 where the value of the loan is in excess of £1,000,000). The fee scale is listed on HMLR’s website.

These fees vary from property to property and can occasionally be significantly more than the ranges given above. We will provide an accurate figure once we have reviewed your specific documents.

In respect of leasehold property:

• ground rent; and
• service charge are likely to apply during your ownership. We will confirm the ground rent and the anticipated service charge once we have reviewed your specific documents.

SDLT

This is determined by the purchase price of your property. HMRC has a standard scale on its website at https://www.gov.uk/stamp-duty-land-tax.

A 3 per cent surcharge is likely apply if you or your spouse/partner own other residential property anywhere in the world. A calculator tool and guidance is available on HMRC’s website. We do not provide tax advice but can refer you to a specialist should your proposed Stamp Duty Land Tax not be of a routine nature in accordance with HMRC’s standard scale.

How long will my house purchase/sale take?

How long the transaction takes from the offer being accepted until the purchaser can move into the house will depend on a number of factors. The average process takes between 8-12 weeks. It can be quicker or slower, depending on the number of parties in the chain.

We would normally expect it to take between four to eight weeks to exchange contracts for the transaction and for a further four weeks to complete the transaction. These estimates will change if there are unforeseen circumstances or if there is a chain of buyers and sellers.

Our Team

The Property Team is headed by Mark Hurst who has over 20 years’ experience and includes over 10 solicitors of varying degrees of qualification, but all are experienced and qualified to deal with residential conveyancing. We will discuss with you who will be assigned to your case and provide details of that person’s supervisor.

Debt Recovery

The total cost of the service

The range of costs will vary depending on the complexity of the matter and which of our fee earners is best placed to handle the dispute. For each matter we will provide a specific fee estimate which will be based on the facts of the matter. Therefore, all the pricing information included below is indicative only. Factors which could make the matter more or less complex are:

• Whether the monies owned is an undisputed debt
• The extent to which any element of the debt is disputed
• The value of the debt
• Whether we need to instruct third parties such as:
  • Counsel
  • Expert
  • Enquiry agent
  • Enforcement Agent
  • County Court Bailiff; and/or
  • High Court Enforcement Officer
• The extent to which it is necessary to issue and pursue proceedings
• Which Court and/or which Court division is required
• Whether the debtor has any assets and, if so, what those assets are and where they are located
• The level of disclosure and evidence required, including the volume of documents and the number of witnesses
• Whether an interim hearing will be necessary
• Whether a trial will be necessary
• The extent to which it is necessary to enforce any judgment of the Court
• The extent to which it is necessary to appoint an enforcement agent/County Court bailiff/High Court Enforcement Officer
• The extent to which it is necessary to consider insolvency issues
• The extent to which any overseas enforcement action is required
• Whether any alternative dispute resolution procedure is required (including considering and attending a mediation).

The fee estimate includes all the work normally undertaken by a solicitor in a routine debt recovery matter. It does not include dealing with any counterclaim or defence or other unenforceability of the debt. Litigation is, by its nature, unpredictable, and therefore we will continue to review and assess fees and our fee estimates as each matter progresses.

Hourly rates

The basis for charges are often based on the time involved and our hourly rates. Our hourly rates range depending on which fee earner(s) is involved. Details of our hourly rates are included in our engagement letter and terms of business. In working on any matters our fee earners will be applying their individual hourly rates. These hourly rates range from £100 to £595 plus VAT. All fees and most disbursements attract VAT at the rate from time to time in force. Currently VAT is an additional charge of 20%.

Cost Estimates

We cannot give you an accurate estimate of the costs of us acting for you until we have reviewed the specific matter and relevant facts. However, indicative costs would be as follows assuming the debt is recoverable under English law in the English Courts. These relate to our legal fees only and do not include the disbursements which are payable in addition, as set out below.

Undisputed debt claim of up to £10,000

• £1,000 – £2,500 to take initial instructions, review a very limited number of documents, issue a letter before claim, following which the debt is paid.
• £2,000 – £4,000 to include the above, instruct junior counsel, issue and serve a claim form or statutory demand, following which the debt is paid.

Undisputed debt claim of up to £100,000

• £2,500 – £10,000 to take initial instructions, review a limited number of documents, issue a letter before claim, following which the debt is paid.
• £3,000 – £10,000 to include the above, instruct junior counsel, issue and serve a claim form or statutory demand, following which the debt is paid.

Disputed debt claim of up to £100,000

• £35,000 – £85,000 to include all of the steps for an undisputed debt claim, together with taking the claim through to trial, excluding any enforcement steps and detailed assessment of costs.

Of course, if the case does have unexpected complications, we always inform our clients of that as soon as we are aware, and would discuss the potential consequences, and likely impact on our fees, before these additional fees are incurred.

Disbursements

Disbursements are costs related to your matter which are payable to third parties. Court fees and counsel’s fees are the most likely disbursements for debt claims. We will usually handle the payment of the disbursements on your behalf to ensure a smoother process. On this basis, the fees will usually be requested on account prior to payment.

Court Fees

(These are subject to increase, you can find them here: https://www.gov.uk/make-court-claim-for-money/court-fees.)

These depend on the value of the unpaid debt. The fee will range from:

• £35 (where the debt does not exceed £300); to
• £5,000 (where the debt is £100,000).

Counsel’s Fees

It is not possible to provide a reliable estimate of counsel’s fees since this will depend on:

• the complexity of the matter
• the experience/seniority of the Counsel instructed
• what work is required to be undertaken; and
• whether or not the matter reaches trial.

An indicative range of costs, based on instructing a junior counsel, would be as follows:

• Undisputed debt claim of up to £10,000: – £1000 to £7,500
• Undisputed debt claim of up to £100,000: £1,500 to £17,500
• Disputed debt claim of up to £100,000: £17,500 to £40,000

The Debt Recovery Team

All matters are partner/solicitor led and supervised, and we resource matters appropriately, making use of junior solicitors, paralegals, legal executives, trainee solicitors, associate and senior associates.

The Debt Recovery Team is headed by Kate Andrews who has over 20 years’ experience, and includes over 8 qualified and unqualified staff, all of whom are experienced in debt collecting matters. We will discuss with you who will be assigned to deal with your case and provide details of that person’s supervisor.

Services Included

The key stages and work involved will depend, in the main, on whether the debt is disputed or not.

Undisputed debt

• Taking your initial instructions, reviewing documentation
• Undertaking appropriate searches
• Drafting and sending a letter before action
• Receiving the debt payment and sending onto you
• If the debt is not paid, instructing junior counsel, drafting and issuing claim or statutory demand; and
• Obtaining default judgment.

Disputed debt claim

The above steps for an undisputed debt claim, plus:

• Reviewing and advising on any defence from the other party
• Preparing for and attending a case management conference
• Undertaking disclosure of documents
• Taking witness statements
• Reviewing and advising on the other party’s witness statements
• Agreeing a list of issues, a chronology
• Considering and, if necessary, instructing an expert; and
• Preparation for and attendance at trial, including instructions to counsel, but excluding any enforcement steps and detailed assessment of costs.

Estimated Timeline

It is not possible to provide a reliable estimate of the time it will take to complete a disputed debt claim. A matter may range from a few weeks for an undisputed debt claim to over a year for a disputed debt claim. Timing will depend on, among other things:

• the complexity of the matter
• the approach taken by the debtor towards the claim; and
• should it be necessary to issue and pursue proceedings, the court’s availability and approach towards case management.

We would normally expect an undisputed debt recovery matter to take not more than 4 months, but we would keep you updated on timescales as the matter develops.