Conveyancing & Probate Costs

Purchase of freehold residential property
Our fees cover all 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.
Conveyancer’s fees and disbursements

• Legal fee between £852.50- £1,152.50 (depending on price and if you are purchasing with a mortgage)
• Search fees approx £175.00 - £240.00 (depending on location)
• HM Land Registry fee £95.00 - £270.00 (depending on property value)
• Electronic money transfer fee £36.00
• VAT payable £170.50 - £230.50
• Subtotal between £1,329.00 - £1,929.00

Disbursements
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 usual disbursements that are incurred are; Chancel no search indemnity insurance, bankruptcy searches and priority searches. The cost of these disbursements equates to approximately £25.00.

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 the HMRC’s website or if the property is located in wales by using the Welsh Revenue Authority’s website.

Estimated total from £1,354.00 + Stamp Duty to £1,954.00 + Stamp Duty*

Purchase of leasehold residential property
Our fees cover all 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.
Conveyancer’s fees and disbursements

• Legal fee between £927.50 - £1,227.50 (depending on price and if you are purchasing with a mortgage)
• Search fees approx £175.00 - £240.00 (depending on location)
• HM Land Registry fee £95.00 - £270.00 (depending on property value)
• Electronic money transfer fee £36.00
• VAT payable £185.50 - £245.50
• Subtotal between £1,419.00 - £2,019.00

Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The usual disbursements that are incurred are; Chancel no search indemnity insurance, bankruptcy searches and priority searches. The cost of these disbursements equates to approximately £25.00.

There are certain additional disbursements which will be set out in the individual lease or management pack relating to the property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on specific fees upon receipt and review of the lease from the seller’s solicitors.
Anticipated Additional Disbursements**

• Notice of Transfer fee/Notice of Mortgage fee – These fees (if chargeable) are set out in the lease or the management pack. Often the fee is between £100.00 - £150.00 per Notice.

• 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 £100.00 - £150.00.

• Certificate of Compliance fee – This fee shall be confirmed upon receipt of the lease, and management pack. It can range between £100.00 - £200.00.

**These fees vary from property to property and can sometimes 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 charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Stamp Duty or Land Tax
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using the HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website.

Estimated total from £1,844.00 + Stamp Duty to £2,694.00 + Stamp Duty*

How long will my purchase take?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. The average process takes between 10 - 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 freehold property with a mortgage in principle, it could take 10 weeks. However, if you are buying a leasehold property with a management company or you require the lease to be extended before purchase, it could take significantly longer. In such a situation additional charges shall apply.

Stages of the process
The stages involved in the purchase of residential property vary according to the circumstances. Below are some key stages:

• Take instructions and give initial advice
• Check finances are in place to fund purchase and contact lender’s solicitor 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
• Advice on joint ownership
• 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:

a) 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

b) This is the transfer of an existing lease and is not the grant of a new lease;

c) The transaction is concluded in a timely manner and no unforeseen complication arise;

d) All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;

e) No indemnity policies are required - additional disbursements may apply if indemnity policies are required

Probate: range of costs (with fixed fee for additional work)
We offer both an ‘application-only’ service to obtain a Grant of Probate or a Grant of Letters of Administration (depending on if there is Will or not) for an estate, or a complete estate administration service. Our fees are calculated on hourly rates which range from £155.00 per hour to £200.00 per hour, plus VAT.

Application-Only Service
For an ‘application only’ service, we shall receive information and paperwork from you, and prepare the legal and tax paperwork leading up to application for a Grant. We provide you with the Grant and you can independently administer the estate. This can take approximately 6-15 hours at the above hourly rates and varies depending on what the assets and liabilities are in the estate, the estate value, and whether inheritance tax is payable.
Total Cost estimate £930.00 - £3,000.00 (+VAT)

Complete Estate Administration
For a complete estate administration service, we handle the full process for you. Work includes all of the above, plus the encashment and collection in and distribution of assets to beneficiaries, finalising the deceased’s tax position, advising of any variations to the estate, assenting property,
This may take between 6 - 30hours work at the above hourly rates.
Total costs estimated at £930.00 – £6,000.00 (+VAT).

The exact cost will 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, but if there are several beneficiaries, a property and multiple assets including shares, investments and bank accounts, the costs will be higher.
This quote is for estates where:

• There are no more than 4 bank or building society accounts
• There are no other intangible assets
• There are 2-8 beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• The inheritance tax
• position is straightforward
• There are no claims made against the estate

Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as Court probate fees. We handle the payment of disbursements on your behalf to ensure a smoother process. Likely disbursements shall include:-

• Probate application fee, approx £160.00
• Oath swearing fee - £7.00 per executor
• Land Registry title deeds - £6.00- £15.00
• Bankruptcy searches - £2.40 per beneficiary
• Trustee Act Notice in the London Gazette plus local paper - £175.00- £250.00

Potential additional costs

• If there is no will or the estate consists of any share holdings (stocks and bonds) or foreign assets, there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.

• The sale of any property in the estate is not included.

How long will this take?

On average, estates that fall within this range are dealt with within 6-18 months. Typically, obtaining the grant of probate takes between 2-6 months. Collecting assets then follows, which can take between 2-6 months depending on complexity. Once this has been done, we can finalise the tax position and distribute the assets which may take 2-6 months.

DMD Solicitors is the trading name of Dakers Marriott Dugdale Ltd

(Co. No. 08797418) and is authorised and regulated by the SRA (No. 611613)

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