full-service commercial law

PRICING

The Solicitors Regulation Authority requires us to publish specific price information about the costs associated with certain types of work. This page sets out information on our basis for charging and specific fixed fee matters.

In calculating our fees we take into account the value, complexity, time and urgency of an instruction. Unless otherwise agreed in writing, the basis of our charges will be by reference to the time we spend on your matter. Our fee earners charge a fixed hourly rate based on their position and experience. You can find our hourly rates set out below. We may adjust that sum to reflect factors such as the nature and complexity of the matter, the size or value of the matter, the risks and the value or any saving achieved.

We can agree a fixed fee at the outset of any instruction, however we reserve the right to charge more in the event that the scope of work involved becomes more than expected.

When you instruct us, we will provide you with a fee quote or estimate for the instructions. We may also incur the fees of third parties on your behalf (for example, barristers) for which you will be liable. We reserve the right to raise interim bills for work carried out as the matter progresses which shall become due immediately. The outcome of the matter cannot be guaranteed and you shall be liable to pay our fees, such liability is not altered by the success result or outcome of the matter.

Our Approach

In line with our ethos, we seek to add value to our clients through our services offered and always look to agree a fee that both parties are reasonably happy with, using our basis for charging and our hourly rates as a guide to calculate a correct quote.

Specific Price Information

 

Residential Conveyancing

Purchase - Freehold

The following information applies to the purchase of freehold residential property on behalf of members of the public (that is to say, individuals).

Basis of our charges

The main factors which determine our charges are the following:

The value of the property (because this affects the amount of risk we assume)

The amount of work involved. This will be influenced by the presence of any complicating factors (see below)

In some instances, the location.

Sale and purchase

Where we are instructed to act on a sale as well as a purchase, we will charge a separate fee for the sale on the basis that they are two separate (but usually co-ordinated) transactions. The fees for the sale element are set out elsewhere on this website and will depend on whether the second property is freehold or leasehold.

Fees for “standard” transactions

The fees we quote cover all of the work we do (but not the third party expenses we incur on your behalf) to complete the purchase of your new home, including dealing with registration at the Land Registry and arranging for payment of Stamp Duty Land Tax (if the property is in England) or Land Transaction Tax (if the property is in Wales). In the event that a transaction is complex or becomes protracted we reserve the right to charge more. We will speak with you about this as and when such instance may occur during the transaction.

Please see the section below for likely third party expenses.

For a standard freehold purchase, our fee ranges are as set out below:

Value of property and range of typical fees

Up to £250,000

£750 plus VAT and disbursements, or £900 plus VAT and disbursements depending on client’s location (difference due to potential enhanced KYC and AML checks).

£250,001 – £500,000

£800 plus VAT and disbursements, or £950 plus VAT and disbursements depending on client’s location (difference due to potential enhanced KYC and AML checks).

£500,001 – £1m

£850 plus VAT and disbursements, or £1,000 plus VAT and disbursements depending on client’s location (difference due to potential enhanced KYC and AML checks).

Bespoke quotes are given for properties valued at over £1m.

For a standard freehold purchase of property located in the London area, our fee ranges are as set out below:

Up to £1m

£1,500 plus VAT and disbursements.

£1,000,001-£1,500,000

£1,950-£2,250 plus VAT and disbursements.

£1,500,001-£2,000,000

£2,350-£2,650 plus VAT and disbursements.

£2,000,001-£2,500,000

£3,500 plus VAT and disbursements.

£2,500,001-£3,000,000

£3,800 plus VAT and disbursements.

£3,000,001-£3,500,000

£4,450 – £5,000 plus VAT and disbursements.

£3,500,001-£4,000,000

£5,500 – £6,000 plus VAT and disbursements.

The fee ranges quoted above assume that the transaction is a standard one in the sense that:

The value of the property is no more than £1,000,000 (bespoke quote available on request)

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 complications arise

all parties to the transaction are co-operative and there is no unreasonable delay from third parties in providing documentation

no indemnity policies are required. Additional disbursements may apply if indemnity policies are required

Non-standard transactions

The fee table above does not apply to non-standard transactions, which are ones which feature one or more of the following complicating factors:

we are required to liaise with separate solicitors for your mortgage lender

the property is unregistered

the property is a new build

there is a requirement for Islamic finance

a shared ownership scheme is involved

there is a help to buy scheme element

there is an ISA involved

the purchase is taking place under the right to buy legislation

the property has been repossessed

the purchase is taking place at an auction

where our client is based overseas or is a company, as this will usually involve enhanced due diligence

If the transaction is non-standard for any of these reasons, we would be very pleased to provide a bespoke quote on enquiry.

Third Party Expenses

Typically, we will incur the following expenses on your behalf. These are in addition to our own fees:

Search fees – £300-£500 (the precise amount depends on the local authority);

HM Land Registry fees – the amount will depend on the purchase price. Details of these fees can be found here.

Stamp Duty Land Tax/Land Transaction Tax – This depends on the value of your property. You can calculate the amount by using HMRC’s website (or, in the case of Land Transaction Tax where the property is in Wales). Please note that this calculator is not applicable if you intend to purchase the property in the name of a company.  You may also require further advice beyond this calculator depending on your particular circumstances, or you may require tax structuring advice. In that event, our conveyancing team would be supported by a specialist Tax Partner who will be happy to advise you further and who would provide you with a separate estimate of their costs for providing this specialist advice.

VAT at 20% is chargeable on our fees.

So that the process is as smooth as possible, we will normally pay these expenses on your behalf provided you pay us.

Typical Stages of the process

The precise stages involved will vary according to the circumstances. However, they will typically include the following:

taking your instructions and giving you initial advice

checking finances are in place to fund the purchase and contacting any lender’s solicitors if needed

receiving and advising on contract documents

carrying out various searches

obtaining further planning documentation if required

making any necessary enquiries of the other party’s solicitor

advising you on all documents and information received

going through conditions of any mortgage offer with you

sending final contract to you for signature

agreeing completion date (date from which you will own the property)

exchanging contracts and notifying you that this has happened

arranging for all monies needed to be received from lender and you

completing purchase

dealing with payment of Stamp Duty/Land Tax

dealing with application for registration at Land Registry

How long will the transaction take?

The time between your offer being accepted to your being able to move into your new home will depend on a number of factors but the typical range is 8 to 12 weeks.

It can be quicker or slower than this, depending on the parties in the chain, whether you are obtaining mortgage finance, how long the searches take to be received from the Local Authority, whether there are any issues raised by your survey and how complicated the title to the property is.

The experience and qualifications of anyone carrying out the work

In the main, work is carried out by qualified solicitors or trainee solicitors (but certain work may be delegated to secretaries and paralegals).

Purchase - Leasehold

Information of pricing for leasehold purchases is set out below. It is considered separate to freehold purchases because there are other elements involved and aspects to consider during the conveyance transaction.

Please refer to pricing information on freehold purchases above which still applies to leasehold purchases. The additional pricing information specific to leasehold purchases is set out below.

Additional Fees and Third Party Expenses

Typically, we will incur those expenses listed on freehold purchase section and the expenses below specific to leasehold purchases. These are in addition to our own fees:

Lease supplement fee – £250 plus VAT.

Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 + VAT and £200 + VAT.

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 + VAT and £200 + VAT.

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 £50 + VAT and £200 + VAT.

Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50 + VAT and £100 + VAT.

Please note that these expenses 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 we receive this information.

So that the process is as smooth as possible we will normally pay these expenses on your behalf provided you pay us.

    Sale - Freehold

    The following information applies to the sale of freehold residential property on behalf of members of the public (that is to say, individuals).

    Basis of our charges

    The main factors which determine our charges are the following:

    The value of the property (because this affects the amount of risk we assume)

    The amount of work involved. This will be influenced by the presence of any complicating factors (see below)

    In some instances, the location of the property.

    Sale and purchase

    Where we are instructed to act on a purchase as well as a sale, we will charge a separate fee for the purchase on the basis that they are two separate (but usually co-ordinated) transactions. The fees for the purchase element are set out elsewhere on this website and will depend on whether the second property is freehold or leasehold.

    Fees for “standard” transactions

    The fees we quote cover all of the work we do (but not the third party expenses) to complete the sale of your home, including repaying your mortgage if any out of the proceeds.

    Please see the section below for likely third party expenses.

    For a standard freehold sale, our fee ranges are as set out below:

    Value of property and range of typical fees

    Up to £100,000

    £650 plus VAT and disbursements.

    £100,001 – £500,000

    £700 plus VAT and disbursements.

    £500,000 – £750,000

    £800 plus VAT and disbursements.

    £750,001 – £1,000,000

    £900 plus VAT and disbursements.

    For Property located in the greater London area fees shall be:

    Up to £1,000,000

    £900 plus VAT and disbursements.

    Bespoke quotes can be provided for properties valued at over £1m.

    The fee ranges quoted above assume that:

    The value of the property is no more than £1,000,000 (bespoke quote available on request);

    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 complications 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.

    Non-standard transactions

    The fee table above does not apply to non-standard transactions, which are ones which feature one or more of the following complicating factors:

    the property is unregistered

    a shared ownership scheme is involved

    there is a help to buy scheme element

    the property is being sold at auction

    Our client is based overseas or is a company as this usually involves enhanced due diligence

    If the transaction is non-standard for any of these reasons, we would be very pleased to provide a bespoke quote on enquiry.

    Third Party Expenses

    Typically, we will incur the following expenses on your behalf. These are in addition to our own fees:

    HM Land Registry fees for copies of register, filed plan and any deeds: £3 per copy

    VAT at 20% is chargeable on our fees

    So that the process is as smooth as possible we will normally pay these expenses on your behalf provided you pay us.

    Typical Stages of the process

    The precise stages involved will vary according to the circumstances. However, they will typically include the following:

    Preparing the sale contract and approving and/or negotiating the transfer of the property

    Collating the supporting documentation

    Obtaining a mortgage repayment statement if applicable

    Preparing replies to additional and/or further enquiries raised by the buyer’s solicitors

    Dealing with exchange of Contracts

    Approving the draft Transfer Deed

    Preparing Financial Statement to you

    Attending to any applicable post completion matters, including arranging to redeem any current mortgages over the property on your behalf from the proceeds of sale, settling the estate agents’ fees, on your behalf from the proceeds of sale and arranging to transfer the net proceeds of sale to you

    How long will the transaction take?

    The time between your acceptance of an offer and receipt of the sale price will depend on a number of factors but the typical range is 8 to 12 weeks.

    It can be quicker or slower than this depending on several factors including the parties in the chain, how long the buyer’s searches take, whether the buyer is obtaining mortgage finance and how complicated the title to your property is.

    The experience and qualifications of anyone carrying out the work

    In the main, work is carried out by qualified solicitors or trainee solicitors (but certain work may be delegated to secretaries and paralegals).

    Sale - Leasehold

    Information of pricing for leasehold sales is set out below. It is considered separate to freehold sales because there are other elements involved and aspects to consider during the conveyance transaction.

    Please refer to pricing information on freehold sales above which still applies to leasehold sales. The additional pricing information specific to leasehold sales is set out below.

    Additional Fees and Third Party Expenses

    Typically, we will incur those expenses listed on freehold sale section and the expenses below specific to leasehold purchases. These are in addition to our own fees:

    Lease supplement fee – £250 plus VAT.

    HM Land Registry fees for copies of register, filed plan and any deeds: £3 per copy

    Managing agent’s pack: typically £200-£450;

    VAT at 20% is chargeable on our fees.

    So that the process is as smooth as possible we will normally pay these expenses on your behalf provided you pay us.

    Typical Stages of the process

    The precise stages involved will vary according to the circumstances. However, they will typically include the following:

    Preparing the sale contract and approving and/or negotiating the transfer of the property;

    Collating the supporting documentation;

    Obtaining a mortgage repayment statement if applicable;

    Obtaining management information from your managing agents or Landlord;

    Preparing replies to additional and/or further enquiries raised by the buyer’s solicitors;

    Dealing with exchange of Contracts;

    Approving the draft Transfer Deed;

    Completion statement apportioning the service and ground rent;

    Attending to any applicable post completion matters, including arranging to redeem any current mortgages over the property on your behalf from the proceeds of sale, settling the estate agents’ fees on your behalf from the proceeds of sale and arranging to transfer the net proceeds of sale to you.

    How long will the transaction take?

    The time between your acceptance of an offer and receipt of the sale price will depend on a number of factors but the typical range is 8 to 12 weeks.

    It can be quicker or slower than this, depending on the parties in the chain. For example, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer. Similarly if a Licence for alterations, Deed of Variation or Licence to Assign are required we will charge separately for those matters and they can delay the transaction.

      Debt Recovery

      Debt Recovery up to £100,000.

      Range of costs

      On a purely indicative basis, this can vary from between £500 to over £100,000 depending on the nature of any dispute and the instructions we receive.

      Basis of our charges

      This is generally an hourly rate which ranges from £145 to £350 depending on the nature of the case and seniority of the person acting.

      Disbursements

      These are payments of third party costs which we generally make on your behalf subject to your placing us in funds on request.

      Court issue fees

      These depend on the value of the claim. A claim for up to £100,000 generally requires a fee of 5% of the value of the claim or 4.5% if issued through Money Claim On-line.

      Court hearing fees

      Most cases attract a hearing fee of £1,090 but this can be reduced for cases assigned to the lower value tracks

      Applications

      A contested application will attract a fee of £255

      Counsel’s fees

      We use the service of specialist advocates for certain court proceedings and their fees are based on their expertise and experience.

      Experts’ fees

      Sometimes experts are required and their fees are also variable.

      Other disbursements

      These will depend on the nature of the case and the services being paid for.

      VAT

      VAT at 20% is charged on most services and disbursements (other than Court fees). Specific information on VAT liability for our overseas clients shall be given on a case by case basis.

      Details of what services are included in the prices “displayed”

      We do not provide service according to price; we price according to the services provided. The services which need to be provided may vary with the specific circumstances and these cannot be assessed until we have a basic understanding of the issues.

      Key stages and likely timetables will differ depending on the individual matter. It is therefore not possible to provide general information.

      Factors which affect overall costs can include:

      Inconvenient historical evidence which may need to be understood and rationalised;

      Action taken prior to our involvement which may be inconsistent with an ideal path towards resolution;

      Documents which may be inconsistent with the allegations made;

      Irrational and obstructive behaviour by the counterparty and their representatives.

      Costs will depend on the complexity of the matter, however an indicative price list is set out below as a starting point.

      Private Client and Succession Planning

      WILLS - DOMESTIC

      PRODUCT FEE (£)

      UK Will  From 300

      Spouse Mirror Wills From 450

      Codicil From 150

      Will Review £85 (£50 reduced if instruct on amendments)

      Deed storage 20 pa

      Professional Executors Bespoke.

      PROBATE

      Type FEE (£)
      Probate Up to Obtaining a Grant for an Estate below the NRB £1,500
      Probate Up to Obtaining a Grant for an Estate above NRB £3,250
      Post Grant Work Hourly rate and/or 1.5% of Estate Value

      Example Scenario’s for Demonstration

      Scenario 1

      Mrs Bouvier died without a Will, leaving around 4 bank accounts (worth around £100,000) which passed to her daughter as next of kin.  The costs of valuing the Estate, applying for Probate and distributing the assets were in the region of £2,000 plus VAT.

      Scenario 2

      Mr Skinner was survived by his wife but no children.  His Estate consisted of a property, two bank accounts, some shares and a pension (totaling around £300,000).  After distributing legacies and personal belongings to his family, the remainder of the Estate passed to his widow, under the terms of the Will.   Whilst at the outset the matter appeared simple, with no HMRC involvement , on account of a dispute with the deceased family over the terms of his Will, the eventual costs of this matter (including the sale of the house) were a little over £5,000 plus  VAT.

      Scenario 3

      Miss Hoover (a single lady with no immediate family) died leaving a property, bank accounts and investments (valued at around £450,000).  Her Will left various legacies to friends, bequeathed her property to a charity and the remainder of her Estate to a further 4 charities.    As the deceased left no family, the firm were required to undertake some of the more practical duties (such as co-ordinating the clearance of the property) which would normally be dealt with by family.  The eventual costs were a little over £10,000 plus VAT

      Scenario 4

      Mrs Flanders left a Will dividing her Estate between her two sons.  Her Estate consisted of a bank accounts, life policy and an investment portfolio (worth around £1.3 million).  The Estate required a full Inheritance Tax Account to be completed and Tax Returns to be submitted.  Eventual costs totaled just under £7,000 plus VAT.

      Scenario 5

      Mr Burns died a widow with children from two different marriages who inherited his entire Estate under his Will.  His Estate, which was valued at £800,000, consisted of a property, bank accounts and life policies, plus an overseas holiday home.  An HMRC Account was required in addition to income tax returns.  There was an ongoing dispute between the beneficiaries which resulted in costs of this matter (including the sale of the property) being in the region of £30,000 plus VAT.

      POWER OF ATTORNEY

      PRODUCT FEE (£)

      Ordinary Power of Attorney 250

      Exercising Ongoing Attorney Powers as professional trustee or attorney Bespoke.

      Ordinary Power of attorney for Property Contracts 200

      Signing Up To 10 Contracts Free

      Signing additional contracts above 10 20 per sign.

      LPA Health and Welfare 700

      LPA Property and Finance 700

      LPA Combined 1,200

      Acting as certificate provider 175

      COMPANY PLANNING

      PRODUCT FEE (£)

      Setting Up UK Limited Entity  120

      UK Service Address and Mail Forwarding 200 pa

      Maintaining of Statutory Books (subject to annual filing) 350 pa

      Corporate Nominee Service (on request) 400 pa

      INTERNATIONAL PRIVATE CLIENT

      PRODUCT FEE (£)

      UK Foreign Will From 350

      UK Foreign Will Spouse Mirror From 550

      UK Service Address and Mail Forwarding 200 pa

      Ordinary Power of attorney for Property Contracts 200

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      Ai Law is a trading name of the Ai Law Group, a recognised body law practice, regulated by SRA (SRA No.,: 670155). Registered office: Ai Law, 8 Water Street, Liverpool, L2 8TD, UK. We use the word 'partner' to mean a senior manager or consultant, or a shareholder and in no way is such title used to be held out. Ai Change Management is a connected company and part of the Ai Law Group. Our regulatory body: www.sra.org.uk

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