PROPERTY

FEE ESTIMATES 2024

Our fees are estimates and may vary with the amount of legal work required. We will discuss any variance of the fee prior to commencement of the work. In the event additional work is required which will result in an increase in fees these will be discussed with our clients prior to the work being carried out.

Conveyancing:

Our Residential Conveyancing fees are a fixed fees and covers all legal work to take the transaction through to settlement and post settlement registration matters with the exception of defects intimation. Our Conveyancing fees also include our Will writing service at no additional costs.

Residential Sale or Purchase

Price Up to

100K                      £600 plus vat and o/l

100K-150K           £700 plus vat and o/l

150 – 250K          £750 plus vat and o/l

250K – 300K        £800 plus vat and o/l

300K – 400K        £850 plus vat and o/l

400K – 500K         £900 plus vat and o/l

500K – 600K        £950 plus vat and o/l

600k – 700K        £1,000 plus vat and o/l

700K – 800K         £1,050 plus vat and o/l

Above £800K fees will be discussed.

Additional Outlays for conveyancing

1^st registration (either a New Build purchasing from a builder or where a property requires to be registered in the Land Register for the first time,  Help to Buy ISAs and Shared Equity Schemes an additional £150 to fee estimate above.

Source of funds assessment and gifted Depositors:

An additional fee of £150 plus vat will be charged where the source of any funds are from multiple accounts or where there are multiple gifted depositors.

Lender on LMS – £25 admin fee.

Defects letter where following a purchase there is long negotiations about a problem found after moving in.                                £100 plus vat.

Multiple offers where the client withdraws each time £50.

Transfer of Title (without mortgage)        £500 plus vat and o/l

Transfer of title (with mortgage)                £550 plus vat and o/l

Change of ownership of a property. Outlays are similar to a sale

Remortgage                       £500 plus vat and outlays

Remortgage with TOT

and Deed of variation     £550 plus vat and outlays

Equity Release                 £550 plus vat and outlays

Release of funds from your property in later years.

Discharge of Std Sec        £300 plus vat and outlays

Discharging your mortgage after the mortgage has been repaid.

Typical outlays are:

Registration dues for ownership £80.00 – £930.00 depending on price of property.

Registration dues of mortgage £80.00

Advance Notice in Land Register £20 for a sale and for a purchase with a mortgage.

Multisearch (Legal Reports, Property Enquiry Certificate and Coal Report) for sale £200.00

LBTT (Lands and Building Transaction Tax) and ADS (Additional Dwelling supplements) where applicable.

Note MM Legal are not Tax Specialist. New tax rules in relation to Capital Gains Tax, submissions require to be submitted within 30 days of a sale. MM legal will not submit CGT submissions.

MM Legal are not on many of the Lenders Panels. We have an arrangement with other solicitors who will deal with all aspects of your mortgage. The fees due to that solicitors are deducted from the fee quoted and are not charged to our clients with the exception of sep representation with Mellicks where their fees are additional to our own.

Commercial

Purchase and sale of commercial property:

• up to £200k – £950 plus VAT
• up to £500k – £1200 plus VAT
• Anything over £500k will be feed on a bespoke basis.

Leases acting for the Landlord or Tenant – Fixed Fee @ £1200 Plus VAT

Assignations fixed fee @ £950 plus VAT (Please note any additional work will be charged at £250 plus VAT per additional document for example Personal Guarantee, Deposit Agreement, Transfer of Business)

Other Commercial Work – contract drafting and dispute resolution

Time and Line Basis as per our Terms of business being £250 per hour (£25.00 per unit).  Fees and vat will be required to pay at the commencement of the transaction. Any additional fees (should the matter become complex) along with any outlays shall be paid prior to settlement of the transaction.

Wills and POA (Financial/ Continuing and Welfare)

Our fees include meeting with you, noting your instructions, drafting, revising and execution of Wills and POA. Home (Hospital and Care Home) visits are not charged at additional costs (unless multiple visits are required). However, a £50 deposit shall be paid prior to any home or hospital visit which will be deducted from the final fees. If additional needs / costs are identified at our initial meeting this will be identified and discussed.

Revision of Will                  £130 plus vat (previously drafted by MM Legal)

Single Will                            £200 plus vat

(Will for one person)

Mirror Wills                         £350 plus vat

(similar Wills for a couple with no complications)

Single POA                          £350 plus vat and registration dues £85.00

(POA for one person)

POA and revocation        £400 plus vat and registration dues £85.00

(changing of a POA)

Mirror POAs                       £500 plus vat and registration dues £170.00

(POA’s for a couple)

Single Will and POA         £450 plus vat and registration dues £85.00

Mirror wills and POAS    £700.00 plus vat and registration dues £170.00

Note we work in partnership with Cancer Research UK who offer a Will writing service where they will pay for the cost of a clients Will. If clients wish to use this service, then Cancer Research require clients to consider leaving a legacy or portion of their residue to Cancer Research UK.

We also work with the National Free Wills Network who also offer a free Will writing gservice.

Executry

(dealing with a deceased estate) Intestate (no Will) and Testate (where a Will was signed by the deceased)

These are carried out on a Time and line basis as per our Terms of business being £250 per hour (£25.00 per unit). Some outlays require to be paid up front such as Bond of Caution dues (specialist insurance required by the Court. The premium is dependent on the size of the estate) and Confirmation dues. (Certificate issued by the Court to allow the Executor to ingather and deal with the estate especially sell a house). In addition, commission is charged on funds being in gathered through our account.

Confirmation can be applied for directly by the Executor without the use of a solicitor. We can assist in the drafting of the inventory and application forms (C1 and C5) for the Court on a fixed fee basis. £900 plus vat and court dues. IHT account will be an additional cost. However, we reserve the right to charge additional; fees should the matter become more complex.

In many executry matters there will be a house to be sold and we at MM Legal can arrange to have the property marketed and carry out the conveyancing work on the fixed fee basis as above.

(Time and Line is a process where our file is sent to an Independent auditor who will assess our fees on the work carried out)

Guardianship / Intervention Order

Welfare and Financial carried out with the use of Scottish Legal Aid funding.

Intervention Order and Guardianship Orders with Financial powers only are carried out on a time and line basis as per our Terms of Business £200.00 / hour (£20.00 per unit) plus outlays and £500 initial payment. Typical outlays are Medical reports £100- £400 depending on the Doctors charges.

Some outlays require to be paid up front such as Bond of Caution dues (specialist insurance required by the Court. The premium is dependent on the size of the estate) These are recovered from the estate after the Order is granted by the Court.

Employment Law

Settlement Agreements fixed fee @ £500 plus VAT

Without Prejudice Negotiation

Acting for either the employers or employees.  Generally dealing with issues including appearing and dealing with Employment Tribunals. These are carried out on a time and line basis as per our Terms of Business £250.00 / hour (£25.00 per unit) plus outlays.

An initial £500 up front initial payment which will be deducted from our final fees. Some actions can be carried out on a no win no fee basis. These can be discussed with our specialist solicitor.

We also offer a service where our specialist solicitor can offer ongoing advice, contract drafting and general employment law advice and assistance on a fixed fee and monthly retainer fee. These can be discussed with our specialist solicitor.

Notary Public

Copying and certifying documents

Simple certified copy                      £25 /per page plus vat

Multiple certified copies               £50 – £100 (depending on number of pages) plus vat

Affidavits / witnessing                   £150 plus vat.

Overseas Powers of Attorney are only carried out for current clients.

Sponsorship letters                         £250 per letter.