FSL Solicitors ltd Costs Information Sheet:

All regulated firms of solicitors are required by their regulator, The Solicitors Regulation Authority (SRA), to give their clients certain information about the cost of their work and legal services in relation to certain areas of work.   Rule 1 of the SRA Transparency Rules set out the information we must publish in relation to certain specific areas of law. Of these, this firm offers services in the following areas of work that covered by the said SRA rules:

1. conveyancing of residential property
2.  probate and administration of Estates
3. Immigration work

The relevant information that solicitors are required to give is as follows:

• cost information
• steps that are required to be taken
• time scale
• disbursements

The information given below and the rates are the maximum rates that applies.  However, in certain circumstances we may give preferential rates, in particular to our repeat clients who return to us on regular basis for legal services.

Residential Property Conveyancing:

The areas covered by the above is the following:

1. sale of freehold property
2. purchase of freehold
3. purchase of leasehold
4. sale of leasehold
5. mortgage
6. re-mortgage
7. release of equity in divorce settlement cases
8. gift of property for love and affection
9. transfer of property following the death of loved one

We have been asked by our regulators to state “The key stages of the matter and the likely timescales for each stage”. However, it is very difficult to give any an exact and accurate estimate of timescales. The average time for completion of a sale or purchase is 3-4 months but it can be considerably longer, if there are any complicating factors.  Hence, it is very difficult to give an estimate which is exact or accurate.   Some of the complicating factors are when the seller dies in the middle of transaction or the land is un registered or if there is consent that is required from a third party for a unilateral notice or restrictions that appears on the tile of the property. If those circumstances are relevant to your matter, then we reserve the right to charge extra.  We will provide the breakdown for the additional costs.  However, the best information we can give is as follows:

Conveyancing work on SALE OF PROPERTY:

Stage 1 :- receiving details instructions of the sale from the seller; taking KYC for AML purposes, checking source of funds, signing letter of authority, writing to the mortgage company for redemption, checking office copies, completing protocol forms arranging for you to complete the relevant forms containing information that has to be given to the buyer’s solicitors.

Stage 2 :– reviewing information received and then drafting contract together with the draft TR1 (CQS firms )and sending this to the buyer’s solicitor together with the forms you will have completed, and giving pre-contract disclosure.

Stage 3: – obtaining further information and dealing with any enquiries raised by the buyer’s solicitors.

Stage 4:- obtaining service charge information and sellers pack from managing agents (for leasehold properties only or ex-local authority properties).

Stage 5: – signing contract and transfer (TR1), exchanging contracts and agreeing completion date with the buyer’s solicitors.

Stage 6:- obtaining redemption statements from the mortgagee and arranging for the relevant transfer documentation to be signed by you and supplying the relevant completion information to the buyer’s solicitor. TA13 replies to requisitions which contains implied undertaking to redeem charges on the property.

Stage 6 – completing the sale, redeeming the charge on the property and paying an estate agent’s and remitting the balance of the monies due to the seller after deducting our firm’s fees and disbarments.

Costs – our firm’s cost in relation to sale or purchase of any property above £500,000.00 will be charged 1% of the sale or purchase price plus VAT charged @20% and disbursements. The only disbursements in respect of a freehold matter are likely to be HM Land Registry copy fees of around £6.00 together with bank charges for chaps payments which is current set as £25.00 per transaction.

However, on the sale of leasehold property, it is likely we will have to pay the following charges in any event whether the matter completes or not:

1. The managing agent to answer management enquiries. Their fees vary but are typically around £300.00 – £400 plus VAT charged @20%.
2. If the lease requires the landlord’s licence then there will be additional fees for that typically around £750.00 plus VAT charged
3. Notice of purchase and mortgage generally charged £150 plus VAT charged @20% (purchase only)

 

The above is on the straight forward transaction that has no complications and completes without requiring any additional work.

CONVEYANCING WORK FOR PURCHASE OF PROPERTY

When we are instructed by the buyer to act for both buyer/borrower and lender our retainer is quite different from above steps:

The following are the basic steps

The first step: taking your ID and taking KYC, receiving details of the sale and obtaining a contract from the seller’s solicitors, together with the protocol forms; carrying out all the usual searches, raising enquiries of the seller’s solicitor and reporting to you and the lenders. Our report on title sets out the details of the property, tenure, searches results, planning mattes and title matters.

The second step: is to get the mortgage offer if you are obtaining a mortgage, we will advise you of the details of that and liaise with the mortgage lender.  We are not qualified to offer financial advice and that is for your mortgage broker to assist you.

The third step is to get approve the draft contract and to get the it signed in readiness to exchange contracts after getting the deposit from you in cleared funds, as we are not qualified to give financial advice.

The fourth step: is to exchanging contracts having obtained the necessary deposit from you; preparing transfer documents and mortgage documents and arranging for you to sign all necessary documents such as mortgage deed, TR1; submitting a request for completion information; preparing financial statements and obtaining from you the monies required to complete and drawing down the mortgage monies; carrying out final searches and arranging to complete the transaction, carrying out bankruptcy search, OS1 search with priority in readiness to complete.

The fifth step: completion taking place and paying stamp duty land tax and registering you as the proprietor at the Land Registry by submitting AP1.

The sixth step: is to close your file at this firm and confirm that your file will be kept for at least 6 years and you are able to take copies

We are obliged to give information about costs of the above stages by our regulator, which is as follows:

FSL solicitors’ ltd fees will be 1% of the purchase price plus VAT charged @20% and disbursements.

The following are the typical and the main disbursements:

1. Cost of regulated local authority Search fees. The cost varies but typically these will be around £ £350 to 500.00 Plus VAT charged at @20%.
2. There will also be a Land Registry search fee of £3.00. no VAT.
3. HM Land Registry Fees which is subject to the purchase price most likely £40 to £1000 pounds (No VAT)
4. SDLT Stamp duty land tax. This depends on the price of the property. If you search for “SDLT Calculator” you will be able to work out the stamp duty land tax that is payable. Please note that there is an additional 2% charge if you are an overseas resident and 3%  charge for “additional properties” owned by you  and we will work this out for you if they apply to you.
5. In leasehold cases notice of assignment fees which are typically around £150 plus VAT charged @ 20%, but sometimes more.  This is always set out in the lease. We will advice you on this if it applies to your purchase.
6. Bankruptcy search and OS1 charged @ £2x 2 = £4.00

CONVEYANCING WORK MORTGAGES OR RE-MORTGAGES

• STEP ONE is receiving your instructions and instructions from the mortgagees who may or may not have their own solicitors.     We have a number of panels of lenders that we work with.  Please check with a partner before you obtain your loan to see if we are able to act for you.

• STEP TWO we commission and carrying out all necessary searches as with a purchase. This will include regulated local authority searches, water and drain search, environmental, chancel check and bankruptcy search.

• STEP THREE review the mortgage offer, and once you agree with it, obtaining your signature to the relevant mortgage documentation include letter of authority and mortgage deeds.

• STEP FOUR writing to the lender (only in case of a remortgage) and obtaining a redemption statement to see how much is owed to redeem on completion of the re-mortgage.

• STEP FIVE completing the remortgage; accounting to you for the proceeds and registering the mortgage at the Land Registry.

• STEP SIX file closure and to confirm to you that the file will be kept for six years from the date of completion, following which the file will incinerated

FSL Solicitors charges are always be 1% of the mortgage advance plus VAT charged at 20% together with disbursement which is cost of bankruptcy search, priority search and HM land registry fee as above.

All work will be carried out by qualified solicitors – in most cases by partners in the firm.

 

FSL Solicitors Charges for properties purchased under £300,000. To £500,000.00

FSL Solicitors fee for any property purchased for up to £500,000.00 is set at a fixed the following rates

1. Solicitors fees                         £2500.00
2. VAT thereon @20%                     £500.00
3. Searches                         £350.00
4. VAT thereon @20%                    £70.00
5. Bank Charges                         £25.00
6. SDLT calculated subject to the purchase price     TBC
7. HM land registry fees     subject to value         TBC
8. Bankruptcy search and OS1                 £4.00

Total to be confirmed upon instructions             ___________

FSL Solicitors Charges for properties Sold  under £300,000. To £500,000.00

FSL Solicitors fee for any property sold  for up to £500,000.00 is set at a fixed the following rates

1. Solicitors fees                     £2500.00
2. VAT thereon @20%                £500.00
3. Bank Charges                     £25.00
4. office copies and title plans             £6.00

 

Total                                 ——–

£3031.00

FSL Solicitors Charges for Commercial Leases.

FOR Commercial Lease work we are not obliged if show the steps we take.  However, for the sake of completeness the steps are as follows:

1. Take instructions from you whether you are taking a lease or selling a lease that you have in your name.
2. Take ID and proof of address and open a file
3. Obtain draft contract and TR1 from sellers or prepare and send draft contract for sale of a lease,
4. Reply to enquiries from sellers’ solicitors.
5. Complete and register your lease

FSL Solicitors Ltd charge fixed fees for all commercial lease which is £2500 + VAT charged @20% and disbursements which is searches, SDLT land tax and HM land registry fees.  This is always vary and cannot be confirmed without full instructions.  However, the local authority searches are the same price and the land registry is exactly the same.

 

FSL Solicitors Ltd’s Wills and Probate Steps and Costs Information

At FSL Solicitors ltd we take death and inheritance seriously to ensure that after your death your estate is passed on to family and friends in accordance with the terms of your wish which is spelled out in your last Will.

Therefore, we advise all our clients to make a will as by making a Will you can decide what happens to your property and possessions after your death, in particular if there is a real estate or land which comprises part of your estate.

By way of explanation of the term your estate that means if you a commercial property, a house, flat, savings, shares, investments or personal possessions? These are your assets (i.e. your estate). A Will is a legal document that allows you to specify who should benefit from any of your assets (i.e. your estate).

If someone die without making a Will your estate will be distributed under the Rules of Intestacy incorporated in the Administration of Estates Act 1925. This can sometimes leave your children without any of your estate, but at other times they may be left with too much of your estate, forcing the sale of your family home to meet their inheritance. The law will dictate who can administer your estate and they may not be the people you trust most with your family’s inheritance. Therefore, it is imperative to have a Will drawn up by a professional Solicitors like FSL Solicitors ltd.

A well settled and drafted will sets out who is to benefit from your property and possessions (personal belongs such as previous items) and who is to receive your estate after your death.

Hence it is always the best practice to have a written will and as there are many good reasons to make a Will and if you do not, your assets will be distributed according to the law relating to intestacy rather than in accordance with your wishes.  This would be the case regardless of what you intended with your assets after your death.

The following are some good reasons to make a Will

• You will be able to appoint trusted executors to deal with your estate.

• You decide the way your body is dealt with (the burial of your body)

• You decide how your assets are shared and distributed between family and friends

• You can always make sure that your partner, children, relatives are provided for after your death.

• You can make sure you do not pay more Inheritance Tax then that is absolutely necessary.

• You will appoint individuals to deal with your estate.

• Your Will and testament will be held safe with a firm of solicitors.

• Solicitors will follow various legal formalities you need to follow to ensure that your Will is valid.

• You will be able to avoid conflict and legal battles between family. 

• You will be able to do a charitable work out of your estate.

At FSL Solicitors ltd we can advise you about how Inheritance Tax affects you and your hires after your death and assist you to prepare a valid will that will work when you are no longer in this world.

Regrettably, it is difficult to fix the price of drafting a Will.  AS our fees for drafting a Will depend upon how complicated your affairs may be but after our initial discussion, we can offer a fixed fee so that you know your financial exposure at the outset prior to engaging our firm in preparing your final Will.  This initial meeting is free of charge.

It is very crucial to think about what you want included in your Will.

The following are some examples: –

• Who should be the executors of the Will.

• Who you want to benefit from your Will.

• Whether to set up a trust for minors.

• Whether to sell any assets.

• How to deal with the family home.

• How much money and what property and possessions are you going to pass on under the will 

• Who will look after any children under the age of 18?

• You may consider providing a gift upon your death to a favourite charity after you have provided for family and friends.

• Stop your wealth going into wrong hands through intestacy rules 

At FSL Solicitors ltd we are happy to keep your Will once your Will is drafted and executed, as it is very important to keep it in a safe place and to tell your executor or close relative where it is kept.

It is also very important to keep your Will up to date and reviewed after having major changes in your life.  Those major events are If there are any major changes to your Will it is advisable to make a new Will.  Minor changes can be made by a “codicil”, that is an addition or amendment to the existing Will.

At FSL Solicitors Ltd we deal with the winding up of the affairs of the deceased in accordance with the terms of the will or where there is no will under the Rules of Intestacy.

Our role is to assist the executors to collect the assets, pay the debts, agree and pay taxes and distribute the balance in accordance with the will or the intestacy rules.

We deal with instances where someone is unreasonably excluded from a will or where there is a dispute over the distribution of assets. These contentious issues are dealt with by challenging or defending the validity of a will or making/ opposing a claim against the deceased’s estate in Civil Courts.

You are required to publish prices for probate work in relation to uncontested cases where all the assets are in the UK. This includes both testate and intestate and taxable and non-taxable estates however, we recognise that your charging models for these may well differ. You will need to explain anything that could affect the price quoted (e.g. indicating there is a separate cost for preparing tax returns if it is not included) clearly on your website.

You may wish to consider whether you charge different prices based on the value of the estate involved.

Steps and Costs Associated when Applying for the grant, collecting and distributing the assets of a deceased Person.

We charge a fixed fee as stated above (1.5%) of the total estate value.  However, in some circumstances we charge an hourly rate.

In a simple grant of probate of letter of Administration, we anticipate this will take between 8 and 10 hours work at £350 per hour plus VAT at 20%. Total costs estimated at -£2800 – £3500 (+VAT at 20%). This is simply an estimate for very a small estate only, where we cannot charge a per centage.

However, 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, and charged at 1.5 % of the total estate.

We will handle the full process for you. This quote is for estates where:

• There is a valid will
• There is no more than one property
• There are no more than 1 bank or building society accounts
• There are no other intangible assets
• There are 1-2 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 HMRC
• There are no claims made against the estate

Disbursements included in this fee (where applicable VAT is included at 20%):

• Probate application fee of £385
• £10 Swearing of the oath (per executor)
• Bankruptcy-only Land Charges Department searches (£4 per beneficiary)
• £200 (depending on the size) Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £200 (depending on the size ) Post in a Local Newspaper – This also helps to protect against unexpected claims.

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 consists 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 a more accurate quote once we have more information.
• If any additional copies of the grant are required, they will cost £2.00 (1 per asset usually).
• Dealing with the sale or transfer of any property in the estate is not included.  That will be charged separately and agreed in advance at the time.  If we have to register your property

How long will this take?

On average, estates that fall within this range are dealt with within 4-6 months. Typically, obtaining the grant of probate takes 10-12weeks. Collecting assets then follows, which can take between 6-8 weeks. Once this has been done, we can distribute the assets, which normally takes 3-6 weeks.

Fixed Fee for Grant of Probate for a small estate

We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.

How much does this service cost?

TOTAL: fixed fee of £2500.00(plus. VAT which is charged at 20%).

This includes: obtaining the grant, collecting assets and distributing them.

Breakdown of costs:

Legal fees £2500

VAT on legal fees £500

Disbursements (£1200.00 in total including VAT at 20% where applicable):

• Probate court fee of £385. No VAT on Court Fees
• £10 Swearing of the oath (per executor).
• Bankruptcy-only Land Charges Department searches (£4 per beneficiary).
• £200 Post in The London Gazette – Protects against unexpected claims from unknown creditors.
• £200 Post in a Local Newspaper – This also helps to protect against unexpected claims.

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.

As part of our fixed fees, we will:

• Provide you with a dedicated and experienced probate solicitor to work on your matter
• Identify the legally appointed executors or administrators and beneficiaries
• Accurately identify the type of Probate application you will require
• Obtain the relevant documents required to make the application
• Complete the Probate Application and the relevant HMRC forms
• Draft a legal oath for you to swear
• Make the application to the Probate Court on your behalf
• Obtain the Probate and securely send two copies to you
• Collect and distribute all assets in the estate

On average, estates that fall within this range are dealt with within 3-4 months. Typically, obtaining the grant of probate takes 12-16weeks. Collecting assets then follows, which can take between 6 -8 weeks. Once this has been done, we can distribute the assets, which normally takes 3-6 weeks.

All matters are dealt with efficiently and with sensitivity and understanding and always handled by a partner of the firm and supervised by another partner to maintain high quality of the your work.

FSL Solicitors Immigration Work Steps and Costs

Immigration matters can often be complicated and time consuming, the current UK immigration system is turbulent.  At FSL Solicitors, our wealth of knowledge and experience allows us to focus on you and your needs to deliver the outcome in your best interest.

We cover a variety of issues, including but not limited to:

• Naturalisation
• Entry clearance
• Judicial review
• Sponsorship licence & compliance
• Appeals
• Business immigration
• Skilled worker visa
• Detention, Bail and Injunctions
• Point based system applications
• Personal immigration matters including spouse/partner visa entry clearance
• Extension of spousal visas
• Settlement/indefinite leave to remain applications

FSL Solicitors Cost Information for Immigration Work 

All regulated Solicitors are required to provide price information when assisting clients with the preparation and submission of immigration applications, excluding asylum applications.

The following types of applications are covered by the rules:

• • Applications for naturalisation or registration under the British Nationality Act 1981
  • Applications on behalf of European Economic Area (EEA) nationals and their family members under the applicable EEA Regulations or Immigration Rules, including applications for permanent residence, residence cards, and registration certificates
  • Registration of Minors as British Citizens.
  • Applications under the Immigration Rules, including:

• student and work experience visas

• visit visas (for tourism, or visiting friends / family)

• spouse and partners applications, including fiancé(e)s or proposed civil partners

• applications for work, business or study under the Points-Based System;

• dependent relative and family reunion applications

• ancestry visas

• other categories, such as applications on the basis of long residence

However, Solicitors are not required to publish prices for the following types of applications:

• Asylum applications

• Statelessness applications

• Human rights / private life applications

• Applications for Secretary of State immigration bail

• Reconsideration and legacy requests

• Judicial review, such as claims for unlawful detention and removal

• Immigration services to businesses (e.g. applications for certificates of sponsorship or confirmation of acceptance for studies).

It should be noted that all our costs are excluding VAT and disbursements (such as interpreters fees) and Home Office fees.

Charging VAT in relation to immigration matters can be complex as it may depend on where the client lives and what immigration permission they have. In any event for the purposes of the Transparency Rules VAT is charged @20% where it is applicable.

There are various applications that prospective applicant would make which will involve taking instructions, preparing, submitting the application and follow up the application with the Home Office.

All those works are charged at an hourly rate: £350 per hour plus vat @ 20%.

On average, this type of work takes between 4-6 hours to complete. This is dependent on factors such as the amount of supporting evidence needed, the number of dependents if any, the language spoken by the client.

This means that on average the costs are between £1400 and £2100. Plus, VAT which is charged at @ 20%. However, as stated above VAT is charged subject to the jurisdiction of the client’s presence. That is to say no VAT is chargeable if the applicant is overseas.

If you are able to provide sufficient evidence at our first meeting and clearly meet the applicable Immigration Rules, the cost is likely to be at the lower end of this range. As for the disbursements you will be expected to pay the following charges:

1. Home Office fees.  This would vary depending on the type of application
2. Interpreter’s fees most likely to be at an hourly rate of £50 per hour
3. Translation of any documents into English.

Please note that we will be in a position to give a better cost estimate once we have the specific instructions.

Please further note that we have Arabic and Swahili speaking Solicitors and you may not need an interpreter or a translator to assist with your application.

What services are included:

The work will involve:

• discussing your circumstances in detail and confirming whether this is the most appropriate application for you to make and what other options may be available to you;
• giving you advice about the requirements of the Immigration Rules and whether you meet the criteria.
• if you do not fulfil certain criteria, whether this can be overcome and how, which on average takes 2 hours;
• considering the supporting evidence you have provided, which we anticipate will take 2 to 4 hours*;
• where necessary, helping you obtain further evidence (such as medical records and bank statements), including taking statements of any witnesses;
• preparing your application and submitting it on your behalf, which we anticipate will take 2-4 hours;
• Attendance at a Home Office interview: if the Home Office ask you to attend an interview, we will give you clear advice (and discuss the possibility of us attending with you) at the appropriate time. This could be between 4 and 6 hours of work.
• giving you advice about the outcome of the application and any further steps you need to take.

*the amount of hours depends on the number of documents, whether they need to be translated, whether anything is missing and how long it will take to obtain the missing documents Disbursements (not included in costs set out above):

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

• Interpreters fees at £50 per hour. This kind of application will normally require between 1-2 hours with an interpreter, depending on the complexity of your case.  In any event interpreters charges may not be incurred as we have Arabic and Swahili Speaking Solicitors.
• Independent expert reports e.g. medical experts. These are not required in many cases: we will let you know as soon as possible if we consider an expert report is necessary.
• If there is an interview and we do attend with you, there will be additional disbursements in respect of our mileage/travel expenses.

The costs quoted here do not include:

• Any Home Office fees for making the application. You will pay this to the Home Office directly as part of the application process.
• Where the Home Office refuse your application, advice and assistance in relation to any appeal
• Any court fees, home office fees and any disbarments will be added on to your fees.
• Interpreter’s fees
• Translation of documents fees

How long will my application take?

We cannot guarantee how long the Home Office will take to process your application. Read the current processing times.

We will normally be able to submit this type of application within 2 weeks of you instructing us, but we will let you know at the earliest opportunity if it is likely to take longer than this.

Please note the anticipated number of hours and fees are an estimate based on the facts above. All applications are likely to vary and of course, we can give you a more accurate estimate once we have more information about your specific case.

It is always hard to give costs estimate without knowing the nature of the application and how long it would take.  Therefore, the above time scale is a simple estimate, as that is the best, we are able to provide at this stage without knowing the specific instructions from clients.