John P Martin & Co. Illustrative Fees
The Residential Conveyancing Fees, Possible additional fees and Disbursements detailed below do not include VAT which will be charged at the current rate of 20%
Residential Conveyancing Fees
Re-mortgage - from £350.00 Transfer of property - from £250.00
On some occasions it will be necessary to revise our initial costs if unexpected issues arise during the transaction. We will let you know if this becomes relevant. Factors which could affect our fees include (but are not limited to): An issue with the legal title or plan or the property being registered on multiple titles, lack of planning permission or building regulations approval for works carried out, volume of documentation or any unusual issues with the property.
In addition to our fees, you will also need to budget for disbursements which include:
The Search Pack is based on a property being purchased in Scarborough. For properties in other areas please contact us to obtain up to date prices.
Stamp Duty Land Tax - the amount payable will depend on the purchase price of your property and your individual circumstances but HMRC have a useful calculator available online, which you can access using this link https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax
Land Registry fees are based on the value of the property. Please see the following link for more details: https://landregistry.data.gov.uk/fees-calculator.html
How long does the Conveyancing process take.
It is very difficult to provide an estimate, but typically, conveyancing transactions take between 8 to 16 weeks but they can be quicker or slower depending on each individual matter. As a general rule the longer the chain, the longer the matter is likely to take.
If you would like to discuss your individual needs with us, please give us a call and we will be happy to prepare a tailored quotation for you.
Single (one person) from £150.00 plus VAT
Per Couple from £300.00 plus VAT
These fees are based on a standard straightforward Will. If you require a more in depth or complex Will please contact us to discuss the same.
Lasting Power of Attorney Property & Financial Affairs and Lasting Power of Attorney Health & Welfare
Each Lasting Power of Attorney £250.00 plus VAT
Registration Fee with the Office of the Public Guardian £82.00 for each Lasting Power of Attorney
Probate and Estate Administration
Grant of Representation application only
If a IHT205 is required - £750.00 plus VAT together with a Probate Registry Grant application fee of £155.00 and £1.50 for each additional official copy of the Grant.
If a IHT400 is required - £1,500.00 plus VAT together with a Probate Registry Grant application fee of £155.00 and £1.50 for each additional official copy of the Grant.
These fees are based on the Executors/Administrators supplying us with all the information we require to apply for the Grant.
Additional fees will be charged if any unused Nil Rate Band (NRB), Property Exemptions or Relief need to be claimed or if a Notice of Power Reserved or a Deed or Renunciation is required. If these are relevant, please let us know and we will provide you with a price for the same.
The Probate Register is currently taking approximately 6 to 8 weeks from the date of receipt to deal with Grant applications. If any Inheritance Tax is payable then this time period is extended by approximately a further 5 weeks.
Estate Administration - for us to deal with the whole of the Estate
We offer two different fees options:
1. Our fee will be calculated on the time taken to do the job and will be based on an hourly charge of £250.00 per hour + VAT and in addition there will be a value factor charge of 1% on Gross Estate less Residence + VAT and 0.5% on the Residence + VAT. For example if the Gross Estate less Residence amounts to £50,000.00 and the Residence amounts to £100,000.00 then the value factor charge will be £500.00 + VAT for the Gross Estate less Residence and £500.00 + VAT on the Residence giving a total value factor charge of £1,000.00 + VAT.
It is difficult to give an estimate of how many hours work will be involved or of the timescale for Estate Administration as it will depend on the individual circumstances and many factors that are outside our control. If you provide us with full details of the estate then we will let you have an estimate of how many hours work we think there will be and the potential timescale.
2. A fixed fee for dealing with the Estate of 4% plus VAT of the value of the Gross Estate (including any joint assets).
There will also be a separate charge if any property is required to be sold, please see our Residential Conveyancing Fees for details of the same.
Possible Additional fees
Assent of a Property in accordance with the Will - £250.00 plus VAT plus disbursements
Assent of a Property in accordance with the Will (First Registration) - £350.00 plus VAT plus disbursements
Declaration of Trust from £350.00 plus VAT
Deed of Variation from £750.00 plus VAT
The application fee charged by the Probate Registry is £155.00 and the Probate Registry make a charge of £1.50 for each official copy of the Grant.
Bankruptcy searches against each beneficiary - £2.00 plus VAT per beneficiary.
If a beneficiary requires funds to be transferred to their bank account a charge of £30.00 plus VAT is made for each transfer.
If any property is to be Transferred/Assented to a beneficiary, then Land Registry registration fees will apply please see: https://landregistry.data.gov.uk/fees-calculator.html