Legal Fees and Pricing

Residential Property

The following figures are based on an Average Estimate Scheme and all prices listed are exclusive of VAT:

Property Price	Freehold		Leasehold
	Sale	Purchase	Sale	Purchase
Up to £150k	£995	£1050	£1095	£1,395
£151k – £200k	£1000 – £1050	£1095 – £1,295	£1095	£1,595
£201k – £250k	£1050 – £1095	£1095 – £1,295	£1,395	£1,695
£251k – £300k	£1050 – £1095	£1,295 – £1,350	£1,395	£1,795
£301k – £350k	£1095 – £1,295	£1,295 – £1,350	£1,495	£1,895
£351k – £400k	£1095 – £1,395	£1,350 – £1,595	£1,695	£2,095
£401k – £450k	£1,595	£1,595 – £1,795	£1,695	£2,095
£451k – £500k	£1,695	£1,795 – £2,095	£1,795	£2,195
£501k – £650k	£1,795	£2,095 – £2,400	£1,895	£2,295
£650k – £800k	£2,095	£2,400 – £2,850	£1,995	£2,395
£801k +	Fees to be made available on request

All estimates given above are based on our current fee earners’ hourly charging rates.The hourly rates depend on the seniority and specialised knowledge of the person or persons dealing with your matter. Details of the rates will be set out in the Letter of Engagement and are subject to periodic review.The fees are calculated on the assumption that there will not be complicating factors in the transaction. If the matter becomes more complicated resulting in an effect on costs, we will contact you to bring this to your attention and provide you with a new fee estimate where possible. Our team is recognised with the Conveyancing Quality Scheme accreditation recognised by the Law Society. Your matter will be dealt with by a single named conveyancer, stating his title within the firm and qualification. They will be supervised by a named partner on our client care letter.

What is included in these costs?

Our Sale fee includes:

Taking your instructions
Obtaining the necessary documentation from Land Registry
Compiling a draft contract package and sending this to the Buyer(s)
Dealing with any enquiries raised by the Buyer(s)
Procuring and arranging any necessary insurance indemnity policies
Obtaining any necessary redemption statements from mortgage lenders and redeeming the mortgage
Arranging to pay any estate agent’s commission
Providing detailed breakdowns of our costs and disbursements at the end of the matter

Timescale
The process of moving house usually takes between 6 to 16 weeks depending on the complexity of the matter. It can be quicker or slower, this depends on the number of parties in the chain. Should any legal defects be found during the course of the transaction this could add weeks to the timescale until solutions can be found

Additional Costs

When selling property, you are likely to incur the below costs which are not included as part of our fees:

Land Registry Fees
We will incur fees when obtaining necessary documents from Land Registry. We will recover these costs from you at the end of the matter –these are usually in the region of £6 – £20 and VAT of 20% will be charged on this fee.
Indemnity insurance policy premiums
It may be necessary to arrange an indemnity policy in order to facilitate the sale if title documents or certificates relating the property or any work undertaken there are not available – Costs dependent on the nature of the policy and the value of the property, these will be discussed with you prior to agreeing the need and costs
Management Pack (leasehold properties only)
We will need to obtain information from the managing agents relating to the property. The managing agents will charge for providing this information and this charge will be recovered from you at the end of the matter – Generally £150-£350 + VAT of 20%

Our Purchase fee includes:

Taking your instructions
Reviewing documentation sent to us by the solicitor acting for the Seller(s) and checking this against any applicable Land Registry information
Arranging any necessary searches and reporting on the results
Raising appropriate enquiries relevant to the property
Providing detailed breakdown of monies required for completion
Dealing with any mortgage lenders to arrange for monies to arrive in time for completion
Dealing with completion, including transmitting funds to the solicitors acting for the Seller(s)
Arranging payment of Stamp Duty Land Tax and filing associated paperwork
Submitting Land Registry application to update the property’s title register

Additional Costs

When purchasing property you are likely to incur the below costs which are not included as part of our fees:

Searches As part of the investigations and completion of your purchase the disbursements will include:
Searches which cost approximately £350.00 plus VAT of 20%. The exact amount is dependent on the area in which you are buying
Bankruptcy Fee £ 2.00 plus VAT per person
Priority Search £ 3.00 plus VAT
Telegraphic Payment £35.00 plus VAT
Due Diligence procedure £25.00 plus VAT
On a Leasehold purchase you may also incur disbursements payable to the Landlord or their representatives. These disbursements can vary significantly as they depend on what the Landlord charges. You may wish to ask the agent to check this information before you make an offer. Examples of these disbursements include:
Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £10 – £250.
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £0 – £150.
Deeds of covenant (leasehold property only)
We may need to provide proof that covenants in the property’s title register have been complied with. In which case, deeds of covenant will be provided by the Landlord or management company’s solicitor. We will recover these costs from you at the end of the matter — Typically £150 — £250 +VAT
Land Registration Fee
The Land Registry charge a fee to register your purchase of the property which transfers legal ownership of the property from the Seller(s) to you. The
fee is based on the value of the property. We will inform you of the fee to be paid when we provide our fee estimate. Please see below for a guide price of Land Registration fees. As an example, please see table below: –

Value or amount	Apply by post	Apply using the portal or Business Gateway,for transfers or surrenders which affectthe whole of a registered title	Apply using the portal or Business Gateway,for registration of all leases and transfers or surrenders which affectpart of a registered title	Voluntary first registration (reduced fee)
0 to £80,000	£40	£20	£40	£30
£80,001 to £100,000	£80	£40	£80	£60
£100,001 to £200,000	£190	£95	£190	£140
£200,001 to £500,000	£270	£135	£270	£200
£500,001 to £1,000,000	£540	£270	£540	£400

Stamp Duty Land Tax
- 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 here.https://www.gov.uk/stamp-duty-land-tax/residential-property-rates or https://gov.wales/land-transaction-tax-calculator
- If you are a first-time buyer you may be exempt from paying SDLT if the property is purchased for less than £300,000 or have the sum paid reduced where the value is less than £500,000. You will be required to complete a Declaration confirming the truth of this statement. Any falsehood in this Declaration could be deemed a criminal offence on the basis of fraudulent activity.

Whether buying or selling, the following factors may lead to additional costs being incurred in your matter, please note that this is not an exhaustive list:

Property Price
Dealing with unregistered land	£250 – £350 +VAT in addition to estimate given
Leasehold elements within a freehold sale; e.g. leasehold garages	£150 – £350 +VAT in addition to estimate given
Drafting, approving or arranging Statutory Declarations or Statements of Truth	£150 +VAT (depending on complexity)
Giving access undertakings	£50 – £100 +VAT
Dealing with Help to Buy ISAs	£50 +VAT per person named in ISA
Repaying any mortgage over property which is not a first mortgage	£100 +VAT per mortgage
Additional electronic fund transfers (CHAPS or BACS payment)	£35 +VAT per payment
Any other unforeseen complicating factors such as: Particularly demanding or extensive enquiries Unusual complexities surrounding title Particularly lengthy or time-consuming negotiations Site inspections Gifted deposit from Family member and/or Friend	£150 +VAT (depending on complexity)

Timescales

As a guideline we expect a straightforward transaction to take around 8 weeks to complete from first being instructed. However, in many cases there are factors which affect the speed of the transaction such as the need to obtain additional information and any issues which affect other transactions in the chain. Whilst we also ensure that we carry out your work as efficiently as possible, the speed of the transaction will invariably be affected by the efficiency of third parties such as other conveyancers and mortgage lenders.

Other Matters

Matter	Price Estimate
Remortgage only	£650 plus VAT @ 20%
Transfer of equity and remortgage	£850 plus VAT @20%
Equity release	£2,500 – £5,000 plus VAT @ 20%
Voluntary first registration	£495 plus VAT @ 20%

Probate

Grant of Probate Only

The costs below are to obtain a Grant of Probate only. These costs do not include any work required to deal with the Administration of the estate after the Grant of Probate.

We charge a rate of £175 —£275 depending on the experience of the solicitor who is dealing with the matter. We anticipate that the Grant of Probate will take between 2 and 8 hours’ worth of work and estimate our total costs to be between £1,250 and £3,500 + VAT @20%.

Disbursements – Grant of Probate fee payable to HM Courts – £155.00

Administration of Estate (including obtaining a Grant of Probate)

The costs below relate to dealing with the entire administration of an Estate, including our obtaining the Grant and dealing with the collection and distribution of assets, together with any ancillary matters.

We charge a rate of £175 — £275 depending on the experience of the solicitor who is dealing with the matter We would anticipate this work to take between 10 and 20 hours’ worth of work and estimate our total costs to be between £2,000 and £5,500 + VAT @20%.

Disbursements – Grant of Probate fee payable to HM Courts – £155.00

Appointment to act as Executor

If anyone working in the firm is appointed to act as an executor an additional fee of between 0.75% and 1.5% (plus VAT) of the whole of the estate will be charged on the conclusion of the matter.

Variation in Costs

The exact cost for the dealing with the whole of your matter will depend on the individual circumstances surrounding the matter. Where the matter is relatively straightforward, such as where there is one beneficiary with no property involved, costs will be at the lower end of the range. Where the matter is more complex, such as where multiple beneficiaries and bank accounts are involved, costs will be towards the higher end of the range. Where circumstances are exceptional then fees will be discussed with you and agreed prior to the outset of your matter.

NOTE:-

The above prices will apply only where:

There is a valid will
There is no more than one property
There are no more than 3 bank or building society accounts
There are no other intangible assets
The will names beneficiaries
There are no disputes between any beneficiaries regarding the division of assets
There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
No claims are made against the estate

Disbursements

We will handle the payment of any and all disbursements on your behalf in order to ensure that the process takes places smoothly. Disbursements are not included in our costs and are likely to include:

Probate application fee — £155 (plus 50p per additional copy required)
Swearing of the oath — £5 — £7 per Executor
Bankruptcy-only Land Charges Department Searches — £10 per beneficiary
Statutory Advertisements — £150 to £300

TIMESCALE

For an estate that does not require a grant of probate, and depending on how many assets the estate has, we would hope to be able to wind up and finalise an estate within 6 months of a date of death.

For an estate that does require a Grant of Probate we would first have to apply for the Probate which could typically takes2 – 3 months. On receiving this we will then proceed to collect all assets and settle liabilities. Our team would anticipate interim legacies to be paid out with 6 months and would hope that complex estates would be finalised within one year.

Will Writing

Our specialist team of Will writing solicitors will guide and advise you through the entire process.

A Will ensures that your wishes for what happens to your estate after you die are carried out. It is a legally binding document that will give yourself and your loved one’s peace of mind

As a Will is such an important legal document, you must take the time to carefully consider what your wishes are for the distribution of your estate.

Drafting a Will can get complicated, especially for those with large estates, so we break our service down into easy-to-follow steps which include:

Valuing your estate: soit is clear what you have to leave behind, we will help you draw up a list of your assets and debts which typically include; property, savings and investments, life insurance or endowment policies, pensions and valuable or sentimental
Decide who gets what: once you know what you have to leave behind
You must then nominate a person or persons to have the responsibility of distributing your Will.
Our team will then draft your Will for your perusal and arrange for it to be executed and witnessed
We will then store your Will safely until such time as you wish to make changes, or it becomes necessary to use it

Our basic fee for writing a Will is £300.00 plus VAT for a single Will or £450.00 plus VAT for 2 x similar Wills. For more complex Wills including Estate planning there will be an additional charge to be agreed at your initial discussion with our team.

TIMESCALE – We would expect to be able to see you for an initial appointment within one week of your initial enquiry, and we then expect to have a draft Will sent to you for your approval within a further week. On approval of the draft Will our team will produce a final document and will be happy for you to meet with us to have the Will signed and witnessed within an approximate 2-week period.

Road traffic offences legal advice

Our solicitor who specialises in this field of law is Conleth Fernandes. His hourly charge rate will be £300.00 plus VAT. You will be given costs estimate when you first discuss your case with him.

In accordance with the Solicitors Regulatory Transparency Rules, we confirm that the fee for acting on your behalf at a Magistrates Court (situated within 30 miles of our office) where you are charged with a summary only offence which is dealt with at one hearing will be £750 + VAT.

For a not guilty plea you will be charged on an hourly rate of £300.00 plus VAT and mileage at 60 pence per mile plus VAT, but it is depending on the pleas and litigation involved to be able to give a clear cost estimate. You will be updated on a regular basis as to your costs.

Fee includes:

Attendance/preparation:
– considering evidence
– taking your instructions
– providing advice on likely sentence
– Attendance and representation at a single hearing at the Magistrates Court

The fee does not include:

instruction of any expert witnesses
taking statements from any witnesses
advice and assistance in relation to a special reasons hearing
advice or assistance in relation to any appeal
any additional disbursements/third party fees.

These are fees and charges that we may need to pay on your behalf as part of the process. We will charge VAT where relevant at the standard rate of VAT as applicable when the work is carried out.For further details on any likely disbursements please contact us

Your time with McCloy Legal will include:

A meeting with your solicitor to provide instructions on what happened.
We will then consider your case and provide advice.
You will have the court procedure explained for you.
All relevant work will be undertaken and at all stages we will liaise with you
We cannot provide a timescale of when your hearing will take place, as this depends on the court listing for that day.
We will attend court on the day and meet with you before going before the court.
All relevant outcomes will be discussed and anything relating to the court hearing will be progressed.

VAT on charges and expenses

Except for charges and expenses which are zero rated or exempt, we will add VAT to our charges and expenses at the rate which applies when the work is carried out.