Cost information for the administration of an estate

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. If there are multiple beneficiaries, a property and multiple bank accounts costs will be at the higher end.

We will handle the full process for you. The guideline costs information below is for estates where:

• There is a valid Will
• There is no more than one property
• There may be several bank or building society accounts
• There are in the region of one to ten beneficiaries
• There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
• There is no inheritance tax payable and the executors do not need to submit a full account to the HMRC
• There are no claims made against the estate

In such a scenario we would anticipate total costs worked out on a time spent basis would be between £2,000 to £5,000 plus VAT. The hourly rate depends upon the fee earner dealing with the matter our hourly rates are between £220 and £249 plus VAT.

Disbursements not included in this fee 

• Probate application fee £300 plus £1.50 per copy of the Grant required.
• Bankruptcy searches £2 per name searched
• Statutory advertisements in the London Gazette and in a local newspaper – Protects the executors against unexpected claims from unknown creditors in the region of £270

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Potential additional costs

• If there is no Will or the estate costs of any share holdings (stocks and bonds) 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 more accurate costs information once we have more information
• Dealing with the sale or transfer of any property in the estate is not included
• All disbursements may be subject to VAT

How long will this take?

On average, estates that fall within this range are dealt with in the region of six to twelve months. Typically obtaining a Grant of Probate takes four to six weeks. Collecting assets then follows, which can take between two and four weeks. This might be longer if there is a property to sell. Once assets are collected any debts can be paid and we can begin to distribute the assets.

More complex estates

Sometimes the administration of an estate can be a more complicated matter to deal with. This may be if a full inheritance tax account is required to be submitted to HMRC, if inheritance tax is payable, if there are foreign assets involved or associated trusts. The inclusion of any of these elements within the estate does not necessarily mean that costs will be significantly greater. However, they can be significantly higher depending upon the actual details of the estate. We can give more accurate cost information once we have more information. A minimum fee is likely to be in the region of £2,500 plus VAT.

Disbursements not included in this fee

• Probate application fee £300 plus £1.50  per copy of the Grant required.
• Bankruptcy searches £2 per name searched
• Statutory advertisements in the London Gazette and in a local newspaper – Protects the executors against unexpected claims from unknown creditors in the region of £270

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Estimated costs – Freehold Purchase

Our fees cover all of 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 £300 – £2,000
• ID Check – £30 per person
• Search fees (Environmental, Drainage, Chancel Check, Flood) £205.06
• HM Land Registry fee £20 – £700
• Land Registry Searches – £7 – £14
• Electronic money transfer fee £48
• VAT on our fees

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. Please note that the fee’s for the search fees vary from region to region and the cost given above is an example of the estimated cost only. Similarly, the Local Search Fee varies from Council to Council and the cost given above is an indication only of the likely fees. All disbursements may be subject to VAT.

Estimated Costs – Leasehold Purchase

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 is in Wales.

Conveyancer’s fees and disbursements

• Legal fee £600 – £2,000
• ID Check – £30 per person
• Search fees (Environmental, Drainage, Chancel Check, Flood) £205.06
• Land Registry Searches – £7 – £14
• HM Land Registry fee £20 – £700
• Electronic money transfer fee £48
• VAT on our fees
• All disbursements may be subject to VAT

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. There are certain disbursements which will be set out in the individual lease relating to the Property. The additional standard 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 solicitors.

• Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 – £250
• 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 – £250
• 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 – £300
• Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £50 – £250

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 this we receive this information.

Stamp Duty or Land Tax (on purchase both Freehold and Leasehold)

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

Estimated Costs – Mortgage or Remortgage of your Property

Our fees will cover all the work required to complete the mortgage or re-mortgage of your property including dealing with your Lender, repaying any existing Charges and registering the new Charge at the Land Registry.

Conveyancer’s fees and disbursements

• Legal fee £250 – £350
• ID Check – £30 per person
• Local Search fees – £119 – £250 or
• Local Search Indemnity if accepted by your Lender – £16 – £30
• HM Land Registry fee £20 – £550
• Electronic money transfer fee £48
• VAT on our fees
• Land Registry disbursements – £3 – £30
• Land Registry Searches – £7 – £14
• All disbursements may be subject to VAT

* Our fee assumes that:

1. 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
2. this is the assignment of an existing lease and is not the grant of a new lease
3. the transaction is concluded in a timely manner and no unforeseen complication arise
4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-8 weeks for a Freehold purchase and 8-12 weeks for a Leasehold purchase.

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 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.

Timescales for a remortgage or mortgage will also vary depending on how quickly your new Mortgage Offer is issued. As a guide we would estimate that a remortgage or mortgage would take in the region of 3-4 weeks.

Timescales for all transactions vary widely and depend on many factors. The general timescales for the return of the searches we undertake are usually in the region of 1-3 weeks.