Price Transparency Guide

PRICES

Whilst many of our services are provided to existing clients or to new clients who have been recommended to the firm by existing clients we are conscious that consumers having no previous connection with us may wish to make an informed choice of legal service provider without the need to submit detailed information in order to obtain information on price.

Accordingly we are happy to supply the following information in relation to those areas of work where members of the public may be interested in engaging our services. These are principally Powers of Attorney, Wills, house sales and purchases.

The figures we provide are indicative of typical transactions. It can of course be the case that a transaction is not “typical” and additional information acquired when we receive an instruction may sometime dictate additional work with an adjustment in our fees with the agreement of the client or indeed a reduction in fees where the work carried out was less than expected.

Wills

In relation to Wills as a guideline a straightforward Will is considered to be one in which the client is leaving their estate to a limited number of people and estate value does not require complicated Tax advice and where the client has no assets outside the UK. Any additional work would be subject to the firm’s usual fees as agreed with the client and charged separately.

An example of a basic Will for a married couple/civil partnership would be where one spouse/partner appoints the other as executor, leaves the estate to the surviving spouse/partner whom failing to children. Our fee for such a Will would be between £100 and £155 plus VAT.

Power of Attorney

A Power of Attorney lets you plan what you want another person to do for you in the future should you become incapable of making decisions about your own affairs. The Office of the Public Guardian (Scotland) provides much useful information in relation to Powers of Attorney and answers to frequently asked questions.

The Power of Attorney which we would prepare would consist of both financial and welfare powers and a typical Power of Attorney would involve a spouse/civil partner appointing the other spouse/partner as attorney whom failing children or other parties to either act together or act alone. Our fee for preparing a single Power of Attorney would be £145 to £200 plus VAT and when preparing two Powers of Attorney for spouse or partners at the same time between £290 to £300 plus VAT

In addition, the Office of the Public Guardian (Scotland) charges a fee for registering each Power of Attorney with him- currently £81.

Sale of a residential property with existing mortgage

Our fees cover all of the work required to complete the sale of your current property in a typical transaction excluding the marketing of your property but assuming that the title of the property is registered in the Land Register dealing with any offers and subsequent missives, ordering searches, repaying a secured loan and registering any deeds at Registers of Scotland and paying any funds to you.

Fees

  • Legal fee £625.00 – £695.00
  • VAT payable £125.00 – £139.00

Outlays

  • Combined Search Report including title, local authority and coal authority search £190.00 (these may vary depending upon the location of the property)
  • Registers of Scotland – fee for registering Discharge £70.00
  • Registers of Scotland Advance notice registration fee for Disposition £20.00
  • Bank Electronic money transfer fee £16.00 if property over £250,000/£5.00 if under £250,000

Estimated total £1046.00 – £1130.00

Outlays are costs related to your matter that are payable to third parties, such as Registers of Scotland and Search Companies. We handle the payment of the outlays on your behalf to ensure a smoother process.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice
  • Carry out required Anti Money Laundering checks
  • Receive offers on property and take your instructions
  • Obtain redemption statements from current lender (the amount required to repay your mortgage)
  • Order Title Deeds
  • Receive and advise on missives (contract)
  • Carry out property searches as required
  • Obtain further planning documentation if required
  • Revise draft documents received from purchasers’ solicitors
  • Conclude missives (and notify you that this has happened)
  • Issue completion statement
  • Complete sale
  • Repay any mortgages and pay any outlays due
  • Prepare the discharge of the standard security and submit this to the Registers of Scotland
  • Paying any surplus funds due to you

Purchase of a residential property with Mortgage

Our fees cover all of the work required to complete the purchase of your new property assuming a typical transaction where the Sellers title is registered in the Land Register.

  • Taking instructions and giving you initial advice
  • Carrying out required anti-money laundering checks
  • Reading Home Report
  • Drafting and submitting Offer to the Sellers’ Estate Agents
  • Receiving Qualified Acceptance from the Sellers’ Solicitor
  • Receiving, examining and reporting on the title deeds and the property Searches
  • Drafting Disposition transferring the title into your name
  • Where there is a mortgage receiving loan instructions from your mortgage provider and drafting the security documentation to be signed by you
  • Reporting on title to the mortgage provider and requisitioning the mortgage funds
  • Preparing and sending to you a Completion Statement showing the balance of the funds from you
  • Submitting at settlement an LBTT Return to Revenue Scotland and paying any Tax
  • Submitting application to the Land Register in Edinburgh and receiving updated Title Sheet

Fees and Outlays

The fee for this work will be £625.00 – £695.00 with VAT payable of £125.00 – £139.00.

In relation to outlays there are normally two namely LBTT (Stamp Duty) which will depend upon the price as well as title registration dues payable to the Land Register which change on a sliding scale according to the price of the property.

Accordingly for a transaction with a price of £150,000.00 the registration dues payable to the Land Register would amount to £320.00