More information can be found on the SRA's website.
| Court Fee / Expense | Our Fee (plus VAT) | ||
|---|---|---|---|
| 1 | Initial review Including reviewing the documents you provide to us and advising you as to your options moving forwards. | Hourly rate | |
| 2 | Final Notices | £90 per letter | |
| 3 | Pre-action Protocol Letter before Action Including interest calculation (if appliable). | £400 | |
| 4 | Pre-action correspondence with the debtor (if applicable) | Hourly rate | |
| 5 | Instalment and Settlement Agreements – a. Instalment agreement b. Settlement agreement c. Monthly chasing / monitoring instalments (if applicable) | £250 £500 Hourly rate | |
| 6 | Reporting back once LBAs have expired | Hourly rate | |
| 7 | Issue of Claim Form (County Court) – Claim value | £500 £750 | |
| £0.01 to £10,000 £10,000.01 or more | £35 - £455 5% of claim amount (subject to a cap of £10,000) | ||
| 8 | Small Claims Mediation | £500 | |
| 9 | Request for Judgment | £100 | |
| 10 | Enforcement | ||
| Enforcement review County Court Bailiff (debts under £600) High Court Enforcement (debts over £600) Order to attend court for questioning Process Server fee | £91 £78 £65 From £150 (plus VAT) | £250 £100 £200 Hourly rate | |
| General | |||
| 11 | Consent Order Tracing Agent Land Registry Searches (per item) | £119 From £95 (plus VAT) From £7 (plus VAT) | Hourly rate £200 £50 - £100 |
| Charging Order | |||
| 12 | Application for a Charging Order Land Registry Fees Office Copy Entries Preparation for (and attendance at, if required) hearing | £131 £20 - £45 (plus VAT) £20 (plus VAT) Counsel fees TBC | Hourly rate |
| 13 | Statutory Demand Process Server fee | From £150 (plus VAT) | £650 |
| Bankruptcy / Winding Up Proceedings | |||
| 14 | Petition and supporting documents
Process Server fee Search Fees Gazette advertisement fee Compliance and preparation for hearing Attendance at hearing – Bankruptcy Attendance at hearing – Winding Up | £1,843 * £2,943* From £150 (plus VAT) £10 - £30 £92.20 (plus VAT) Counsel fees TBC Counsel fees TBC | Hourly rate |
Any work that we are asked to carry out in addition to the above will be charged at the appropriate hourly rate of the team member carrying out the work (see below).
Any work which falls outside the scope of the above fee structure shall be reviewed on a case-by- case basis. If your claim becomes defended or disputed at any time, fees will be charged at the appropriate hourly rate of the team member carrying out the work. A cost estimate will be provided to you before we carry out any work.
Additional charges may be incurred by High Court enforcement agents should enforcement of any judgment or order be unsuccessful, or their instruction be withdrawn. High Court enforcement agents will attempt to recover their fees from the debtor but VAT on any fees recovered will be recoverable by you, directly from HMRC.
The above fee structure applies to simple unpaid invoice debts and does not apply to claims involving:
Please contact us for a tailored quote in respect of the above cases.
Claims valued between £25,000 – £100,000 will likely be allocated to what is called the intermediate court track. This track is suitable for a trial scheduled for up to three days (as opposed to no more than one day in the lower tracks), with up to two experts on each side (as opposed to one expert per party in relation to any expert field in the lower tracks). There may also be more directions set with which to comply, including case management conferences and various hearings. Most intermediate track cases are also dealt with in a longer timeframe than those in the lower tracks with most trials being held within 30 weeks of directions being given.
Our fees for dealing with claims valued between £25,000 – £100,000 will be charged at the appropriate hourly rate of the team member carrying out the work (see below).
As a general guide and rough estimate, our fees for bringing a debt recovery claim in the intermediate track are typically in the region of £15,000 – £75,000 plus VAT. However, our fees for these types of claims will be reviewed on a case by case basis, and the actual costs will depend on the complexity of the claim, how many issues there are in dispute, as well as numerous other factors affecting the litigation. A more accurate estimate will be provided to you based on the specifics of your case.
It is usual for us to instruct counsel (a barrister) in intermediate track cases to draft statements of case, advise throughout, and to attend at Court to carry out the advocacy of the case. As a rough guide, if a claim proceeds all the way to trial, counsel’s fees might typically be expected to be in the region of £5,000 – £20,000 plus VAT, however, much will depend on the complexity of the claim and the issues in dispute.
Please note that the above estimate does not include any of the other disbursements and/or expenses which are likely to be incurred and which will be charged in addition to our fees. Please refer to the table above for guidance on the disbursements / expenses which are likely to be incurred in a straight forward debt recovery case.
Please note that the costs of assisting with costs recovery and/or advising or assisting in relation to any counterclaim, any appeal, any interim application or ADR are not included the above estimate. Should your claim involve any of the above factors, our fees will be charged based on our hourly rates (see below) and a cost estimate will be provided to you.
Our standard Terms of Business apply to all work undertaken irrespective of the claim value.
It is important to note that we cannot guarantee the recovery of legal costs and interest. It may assist your case if you have the necessary clauses in your contractual terms with your customer, either pursuant to the Late Payment of Commercial Debts Regulations 2013 or a contractual rate.
We can advise you further on this point if necessary.
Partner £380 (plus VAT)
Solicitor £255 (plus VAT)
Trainee £185 (plus VAT)
During a matter, it is possible that we may need to revise our cost estimate, up or down. This may be due to a change in your instructions, or because it is necessary to re-assess the level of complexity of the matter in the event, for example, that new information comes to light, additional documents become available, or circumstances change. Should this be the case, we will discuss this with you at the time, and agree any changes before progressing.
We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken (or up to £45 plus VAT per check if an international business check is required). The online ID verification checks include a financial sanctions check. In the event that a standalone financial sanctions check is required, we charge a fee of £5 plus VAT for each check undertaken.
VAT is payable on our fees and on some disbursements / expenses (as shown in the table above).
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
The VAT element of our fees cannot be recovered from the debtor.
Contact details for our team can be found here. Please do get in touch if you are interested in finding out how we could assist your business with Debt Recovery,
Our estimates for bringing or defending an ordinary unfair dismissal claim up to (but excluding) the final hearing are as follows:
Simple case: £15,000 – £20,000 plus VAT
Typically involving a 1 day hearing
Medium complexity case: £20,000 – £50,000 plus VAT
Typically involving a 2 – 5 day hearing
High complexity case: £50,000 – £200,000 plus VAT
Typically involving a 6 – 10 day hearing
These estimates are based on the following hourly charge out rates:
Head of team/partner: £375 – £425 plus VAT
Senior Associate: £300 - £350 plus VAT
Associate: £275 – £290 plus VAT
Solicitor: £210 – £275 plus VAT
Paralegal: £200 plus VAT
Trainee: £185 plus VAT
It is usual for us to instruct counsel (a barrister) to attend the tribunal and carry out the advocacy of the case. Fees for attending the final hearing (both our fees and counsel’s) are not included in the above estimates (see further below).
An actual estimate would be provided to you based on the specifics of your case.
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
We have listed below the factors that may increase the actual estimate of costs and/or make your case more complex:
The fees set out above cover the work in relation to the following key stages of a claim:
The stages set out above are an indication only and if some of the stages above are not required, the fee will be reduced. You may wish to handle the claim yourself and only have our advice in relation to some of the stages. This can also be arranged based on your individual needs.
The estimates set out above do not include the following:
1. Our fees for attending the final hearing
There will be an additional charge (based on our hourly rates) for a trainee, qualified solicitor or partner to attend the final hearing.
The additional cost of our attendance will depend upon the solicitor responsible for your case and their availability, the complexity of the claim and your preference as to who you want to attend with you.
Head of team/partner: £375 – £425 plus VAT
Senior Associate: £300 - £350 plus VAT
Associate: £275 – £290 plus VAT
Solicitor: £210 – £275 plus VAT
Paralegal: £200 plus VAT
Trainee: £165 plus VAT
2. Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as counsel’s fees. We handle the payment of disbursements on your behalf to ensure a smoother process.
Counsel’s fees for preparing for and attending the final hearing will vary according to the experience and seniority of the barrister being instructed, the complexity of the case, the number of days that the hearing takes and their travel costs. However, as a general indication, counsel’s fees are typically made up of a brief fee for preparing for and attending the first day of the tribunal hearing in the region of £5,000 – £10,000 plus VAT, plus a refresher fee of £3,000 – £6,000 plus VAT for each additional day the hearing lasts.
3. Electronic identity verification check & sanctions checks
We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken (or up to £40 plus VAT per check if an international business check is required). The online ID verification checks include a financial sanctions check. In the event that a standalone financial sanctions check is required, we charge a fee of £5 plus VAT for each check undertaken.
The time that it takes from taking your initial instructions to the final resolution of your matter depends on the complexity of your case, the stage at which your case is resolved, and the length of any final hearing. If a settlement is reached during the pre-claim conciliation process, your case is likely to take between 2 – 8 weeks. If your claim proceeds to a final hearing, your case can take anything between 12 – 18 months to resolve. However, this is only an estimate and we will be able to give you a more accurate timescale once we have more information and as the matter progresses. In complex discrimination claims this timescale can be extended to a significantly longer period of 2 years or more.
Contact details for our Employment team can be found here. Please do get in touch if you are interested in finding out how we can assist you.
Hence the overall costs can also vary widely, since they are related to how much time is required to deal with the matter.
Our team has many years’ experience in all matters relating to wills and estate administration. We have senior individuals with expertise in dealing with complex estates including tax expertise to advise on all tax issues arising and we have more junior staff who can deal with the practical administration at cost effective hourly rates. We can deal with all estates, from the most straightforward to the most complicated.
The exact cost will depend on the individual circumstances of the case. There are numerous variables, for example in the number of and types of assets, the value of the assets, the number of executors, the number, age and location of beneficiaries, the inheritance tax payable if any, whether it is necessary to claim reliefs from inheritance tax, whether the deceased made lifetime gifts from income or capital, whether there are assets abroad and if a grant is required in another country, whether there is a will, and if not how easy or otherwise it might be to establish who is entitled to the estate – all these factors and other complications that might arise during the course of an administration will determine the level of cost. If there are income and capital gains tax matters to be dealt with during the administration this will add to the time and expertise required to complete it.
In each case we will provide you with a clear estimate of costs when we have full information about the estate. We can agree with you in advance a fee for gathering sufficient information about the estate in order to provide the estimate for the administration. The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our hourly rates vary between £250 (plus VAT) to £450 (plus VAT) per hour.
By way of illustration, we set out below an estimate for fees in a straightforward case.
In an estate where:
The work involved in a matter of this nature may take between 10 and 20 hours to complete and on that basis our charges would be between £4,250 and £8,500 plus VAT. This would not include conveyancing work for the sale of property, for which a quote would be provided by our property team.
There would be disbursements (i.e. costs payable to third parties on your behalf) which would include:
In certain limited circumstances, we are able to work on the basis of an agreed fixed fee (rather than on the basis of hourly rates), as follows:
We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken (or up to £40 plus VAT per check if an international business check is required). The online ID verification checks include a financial sanctions check. In the event that a standalone financial sanctions check is required, we charge a fee of £5 plus VAT for each check undertaken.
This is an example of a straightforward case and we set out below the many other factors that may need to be dealt with.
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
Depending on the complexity of the estate and whether inheritance tax is payable, the administration of an estate will generally take between 12 and 24 months. Typically, the obtaining of the grant takes 4 – 6 months. Collecting the assets then follows which can take a further 6 – 8 months. Distribution then follows. If a property has to be sold before the estate can be distributed then obviously the timescale will vary depending on how quickly the transaction can be completed.
We will provide you with a detailed estimate for costs when we have full information about the estate.
The steps that need to be taken in the course of an administration can include some or all of the following (the straightforward estate will encompass only some elements of this list and where more elements are relevant, more time will be required to complete the work)
Obviously cases will vary from one to another and the above is for guidance and general information only.
Contact details for our team can be found here. Please do get in touch if you are interested in finding out how we can assist on the administration of estates process.
| Purchase Price | Freehold Estimate | Leasehold Estimate |
|---|---|---|
| £0 – £300,000 | £1,650 + VAT (£1,980) | £2,000 + VAT (£2,400) |
| £300,001 – £350,000 | £1,750 + VAT (£2,100) | £2,100 + VAT (£2,520) |
| £350,001 – £450,000 | £1,850 + VAT (£2,220) | £2,200+ VAT (£2,640) |
| £450,001 – £550,000 | £2,000 + VAT (£2,400) | £2,350 + VAT (£2,820) |
| £550,001 – £650,000 | £2,250 + VAT (£2,700) | £2,600 + VAT (£3,120) |
| £650,001 – £750,000 | £2,350 + VAT (£2,820) | £2,700 + VAT (£3,240) |
| £750,001 – £850,000 | £2,450 + VAT (£2,940) | £2,800 + VAT (£3,360) |
| £850,001 – £950,000 | £2,550 + VAT (£3,060) | £2,900 + VAT (£3,480) |
| £950,001 – £1m | £2,650 + VAT (£3,180) | £3,000 + VAT (£3,600) |
| £1m – £1.5m | £2,750 + VAT (£3,300) | £3,100 + VAT (£3,720) |
| £1.5m – £2m | £3,000 + VAT (£3,600) | £3,350 + VAT (£4,020) |
| £2m – £2.5m | £3,500 + VAT (£4,200) | £3,850 + VAT (£4,620) |
| £2.5m – £3m | £3,950 + VAT (£4,740) | £4,300 + VAT (£5,160) |
| £3m + | Call to discuss | Call to discuss |
The above costs are indicative only and the team at Steele Raymond will always provide a full estimate before starting work on a matter
If your property is valued over £3m, please contact us so that we can discuss the matter further and provide a detailed estimate.
Our fees cover all of the work* required to complete the purchase of your new property, 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.
The total cost of a purchase includes legal fees and other payments, often called disbursements, which are costs related to your matter that are payable to third parties, such as search providers and the Land Registry. We handle the payment of the disbursements on your behalf.
Each transaction and each property is different. On our website, we can only provide you with a general indication of the likely costs. We can provide more precise information after discussing the details of your transaction and your requirements with you. We will ensure that your matter is handled by the member of the team with appropriate seniority and experience for your transaction.
When you are budgeting for the cost of your purchase, you should allow for the following:
Conveyancer’s fees and other payments:
Legal fee* – The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our legal hourly rate varies between £195 – £355 plus VAT per hour.
Electronic identity verification check – We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken.
Searches – Searches will be undertaken on your behalf and on behalf of your lender (if any) to find out more information about a property you plan to purchase. These will typically include Local Authority, Water and Drainage and Environmental searches. Search fees can differ between properties and local authorities but typically these will range from £270 – £450 plus VAT.
Electronic bank transfer fee – This is a standard fee of £35 plus VAT.
Bankruptcy search – £2 plus VAT per check
Land Registry (OS1) fee – £3 plus VAT
*Our fee assumes that:
VAT
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
Stamp Duty or Land Tax
The amount of this tax depends on the purchase price of your property. You can calculate the amount you will need to pay by using https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority’s website https://beta.gov.wales/land-transaction-tax-calculator
Land Registry registration fee
There is a Land Registry fee to register the transfer of your property, and any mortgage, in your name. This depends on the purchase price of your property. The Land Registry scale can be found at http://landregistry.data.gov.uk/fees-calculator.html
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages:
How long will my property purchase take?
How long it will take from your offer being accepted until you receive the keys to your property 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. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 5 weeks.
Our fees cover all the work* required to complete the purchase of your property, 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 is in Wales.
The total cost of a purchase includes legal fees and other payments, often called disbursements, which are costs related to your matter that are payable to third parties, such as search providers and the Land Registry. We handle the payment of the disbursements on your behalf.
Each transaction and each property is different. On our website, we can only provide you with a general indication of the likely costs. We can provide more precise information after discussing the details of your transaction and your requirements with you. We will ensure that your matter is handled by the member of the team with appropriate seniority and experience for your transaction.
When you are budgeting for the cost of your purchase, you should allow for the following:
Conveyancer’s fees and other payments:
Legal fee* – The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our legal hourly rate varies between £195 – £355 plus VAT per hour.
Electronic identity verification check – We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken.
Searches – Searches will be undertaken on your behalf and on behalf of your lender (if any) to find out more information about a property you plan to purchase. These will typically include Local Authority, Water and Drainage and Environmental searches. Search fees can differ between properties and local authorities but typically, these will range from £270 – £450 plus VAT.
Electronic bank transfer fee – This is a standard fee of £35 plus VAT.
Bankruptcy search – £2 plus VAT per check
Land Registry (OS1) fee – £3 plus VAT
*Our fee assumes that:
Other Disbursements
There are certain disbursements which will be set out in the individual lease relating to the property. These 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 the specific fees upon receipt and review of the lease from the seller's conveyancers.
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 be payable by you throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge once we receive this information.
VAT
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
Stamp Duty or Land Tax
The amount of this tax depends on the purchase price of your property. You can calculate the amount you will need to pay by using https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority’s website https://beta.gov.wales/land-transaction-tax-calculator
Land Registry registration fee
There is a Land Registry fee to register the transfer of your property, and any mortgage, in your name. This depends on the purchase price of your property. The Land Registry scale can be found at http://landregistry.data.gov.uk/fees-calculator.html
Stages of the process
The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below are some key stages:
How long will my property purchase take?
How long it will take from your offer being accepted until you receive the keys to your property 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. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 5 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 – 6 months. In such a situation, additional charges would apply.
Our fees cover all of the work* required to complete the remortgage of your property, including repayment of any existing mortgage and dealing with registration of the new mortgage at the Land Registry.
The total cost of a remortgage includes legal fees and other payments, often called disbursements, which are costs related to your matter that are payable to third parties, such as search providers and the Land Registry. We handle the payment of the disbursements on your behalf.
Each transaction and each property is different. On our website, we can only provide you with a general indication of the likely costs. We can provide more precise information after discussing the details of your transaction and your requirements with you. We will ensure that your matter is handled by the member of the team with appropriate seniority and experience for your transaction.
When you are budgeting for the cost of your remortgage, you should allow for the following:
Conveyancer’s fees and other payments:
Legal fee* – The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our legal hourly rate varies between £195 – £355 plus VAT per hour. Depending on the value of your property and the remortgage value, the fee is likely to range from £750 – £950 plus VAT.
Electronic identity verification check – We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken.
Search fee – Searches will be undertaken on behalf your new lender to find out information about the property and check that there are no issues affecting the security that it gives your lender for the loan. These will typically include Local Authority, Water and Drainage and Environmental searches. Search fees can differ between properties and local authorities but typically these will range from £270 – £450 plus VAT.
Electronic bank transfer fee – Money will be transferred electronically to repay any existing mortgage and you may request electronic transfer of money due to you. There is a standard fee of £35 plus VAT for each electronic transfer.
Land Registry registration fee – There is a Land Registry fee to register the new mortgage, in your name. This depends on the amount borrowed. The Land Registry scale can be found at http://landregistry.data.gov.uk/fees-calculator.html
Typically, the overall costs may be:
| Fee (£) | VAT (£) | Total (£) | |
|---|---|---|---|
| Legal fee for remortgage values up to £600,000 | 750 – 950 | 150 – 190 | 900 – 1,140 |
| Legal fee for remortgage values over £600,000 | TBC | TBC | TBC |
| Copy deeds | 3 – 6 | 0.60 – 1.20 | 3.60 – 7.20 |
| Electronic Identity Verification Check (per check) | 15 – 20 | 3 – 4 | 18 – 24 |
| Search fee | 255 – 425 | 51 – 85 | 306 – 510 |
| Local search fee | TBC | TBC | TBC |
| Indemnity insurance (dependent on value of property) | TBC | TBC | TBC |
| Electronic money transfer fee | 30 | 6 | 36 |
| Land Registration fee (dependent on value of property) | TBC | TBC | TBC |
| Total | 1,090 – 1,460 | 218 – 292 | 1,308 – 1,752 |
*Our fee assumes that:
Land Registry registration fee
There is a Land Registry fee to register the new mortgage, in your name. This depends on the amount borrowed. The Land Registry scale can be found at http://landregistry.data.gov.uk/fees-calculator.html
Stages of the process
The precise stages involved in the remortgage of a residential property vary according to the circumstances. However, below are some key stages:
How long will my remortgage take?
How long it will take from your mortgage offer being issued until completion will depend on a number of factors. The average process takes between 4 – 8 weeks. It can be quicker or slower, depending on the specific circumstances.
| Sale Price | Freehold Estimate | Leasehold Estimate |
|---|---|---|
| £0 – £300,000 | £1,500 + VAT (£1,800) | £1,850 + VAT (£2,220) |
| £300,001 – £350,000 | £1,600 + VAT (£1,920) | £1,950 + VAT (£2,340) |
| £350,001 – £450,000 | £1,700 + VAT (£2,040) | £2,050 + VAT (£2,460) |
| £450,001 – £550,000 | £1,800 + VAT (£2,160) | £2,150 + VAT (£2,580) |
| £550,001 – £650,000 | £1,900 + VAT (£2,280) | £2,250 + VAT (£2,700) |
| £650,001 – £750,000 | £2,000 + VAT (£2,400) | £2,350 + VAT (£2,820) |
| £750,001 – £850,000 | £2,100 + VAT (£2,520) | £2,450 + VAT (£2,940) |
| £850,001 – £950,000 | £2,200 + VAT (£2,640) | £2,550 + VAT (£3,060) |
| £950,001 – £1m | £2,300 + VAT (£2,760) | £2,650 + VAT (£3,180) |
| £1m – £1.5m | £2,500 + VAT (£3,000) | £2,850 + VAT (£3,420) |
| £1.5m – £2m | £2,700 + VAT (£3,240) | £3,050 + VAT (£3,660) |
| £2m – £2.5m | £2,900 + VAT (£3,480) | £3,250 + VAT (£3,900) |
| £2.5m – £3m | £3,500 + VAT (£4,200) | £3,850 + VAT (£4,620) |
| £3m + | Call to discuss | Call to discuss |
The above costs are indicative only and the team at Steele Raymond will always provide a full estimate before starting work on a matter
If your property is valued over £3m, please contact us so that we can discuss the matter further and provide a detailed estimate.
Our fees cover all of the work* required to complete the sale of your property, including dealing with redemption of any existing loan that you may have secured on the property.
The total cost of a sale includes legal fees and other payments, often called disbursements, which are costs related to your matter that are payable to third parties, such as the Land Registry. We handle the payment of the disbursements on your behalf.
Each transaction and each property is different. On our website, we can only provide you with a general indication of the likely costs. We can provide more precise information after discussing the details of your transaction and your requirements with you. We will ensure that your matter is handled by the member of the team with appropriate seniority and experience for your transaction.
When you are budgeting for the cost of your sale, you should allow for the following:
Conveyancer’s fees and other payments:
Legal fee* – The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our legal hourly rate varies between £195 – £355 plus VAT per hour.
Electronic identity verification check – We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken.
Copy deeds – There is a fee payable to the Land Registry to obtain official copies of the title entries and plan for a registered title for which there is a charge of £9.00 plus VAT with a further charge of £3 plus VAT for an official copy of each additional document.
Electronic bank transfer fee – This is a standard fee of £35 plus VAT.
Bank account checker fee – Before remitting sale proceeds to you, we must check that the sale proceeds will be sent to a bank account in your name. The cost of this check is £3.75 plus VAT.
*Our fee assumes that:
VAT
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. However, below are some key stages:
How long will my property sale take?
How long it will take from accepting the offer from your buyer until you receive the money from 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. The transaction can only proceed as fast as the slowest person in the chain. For example, if you are selling to a cash buyer who does not require a mortgage and has no property to sell, it could take 5 weeks.
Our fees cover all the work* required to complete the sale of your property, including dealing with redemption of any existing loan that you may have secured on the property.
The total cost of a sale includes legal fees and other payments, often called disbursements, which are costs related to your matter that are payable to third parties, such as managing agents and the Land Registry. We handle the payment of the disbursements on your behalf.
Each transaction and each property is different. On our website, we can only provide you with a general indication of the likely costs. We can provide more precise information after discussing the details of your transaction and your requirements with you. We will ensure that your matter is handled by the member of the team with appropriate seniority and experience for your transaction.
When you are budgeting for the cost of your sale, you should allow for the following:
Conveyancer’s fees and other payments:
Legal fee* – The complexity of the matter and the seniority and experience of the member of the team handling the day-to-day work will affect the final fee. Our legal hourly rate varies between £195 – £355 plus VAT per hour. Broad cost estimates can be found in the above 'Sale fee estimate - of a freehold or leasehold residential property' section.
Electronic identity verification check – We are required by law to verify the identity of our clients. To satisfy this requirement we carry out online ID verification checks on our clients and we charge a fee of £15 – £20 plus VAT for each check undertaken.
Copy deeds – There is a fee payable to the Land Registry to obtain official copies of the title entries and plan for a registered title for which there is a charge of £18 plus VAT with a further charge of £3 plus VAT for an official copy of each additional document.
Electronic bank transfer fee – This is a standard fee of £35 plus VAT.
Bank account checker fee – Before remitting sale proceeds to you, we must check that the sale proceeds will be sent to a bank account in your name. The cost of this check is £3.75 plus VAT.
*Our fee assumes that:
Other Disbursements
There are other disbursements which can be payable on the sale of a leasehold property and which depend upon the terms of the individual lease relating to the property. These 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 the specific fees upon receipt and review of the lease and after making contact with any managing agents.
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.
VAT
Where an amount is stated as “plus VAT” we will charge VAT at the rate of 20% which is payable in addition to the amount stated.
Stages of the process
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, below are some key stages:
How long will my property sale take?
How long it will take from accepting the offer from your buyer until you receive the money from 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. The transaction can only proceed as fast as the slowest person in the chain. For example, if you are selling to a cash buyer who does not require a mortgage and has no property to sell, it could take 5 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 – 6 months. In such a situation, additional charges would apply.
Contact details for our Residential Conveyancing team can be found here. Please do get in touch if you are interested in finding out how we can assist you with the residential conveyancing process.
