Frequently Asked Questions
Quick answers to those niggling questions
Property
*Property Fees
Examples of our typical conveyancing fees are illustrated below, please contact us for a formal quotation as our fees are subject to your specific requirements.
Purchase Fees:
A fee estimate for a typical property purchase.
| Legal Work | £1,100.00 |
| SDLT Completion | £195.00 |
| Mortgage Lender (or as per mortgage offer- whichever is higher) | TBA |
| Office expenses, i.e. I.T., telephone, postage | £50.00 |
| Electronic Funds Transfer and Verification Fee (per payment) | £45.00 |
| E-Conveyancing | £80.00 |
| AML and Compliance Check (per person) | £50.00 |
| Procuring pre completion searches | £25.00 |
| Map Search Fee | £30.00 |
| Leasehold Fee | £300.00 |
Disbursements (funds payable to third parties) will be added to your legal bill.
Sale Fees:
A fee estimate for a typical property sale.
| Legal Work | £1,100.00 |
| Redemption | £150.00 |
| Office expenses, i.e. I.T., telephone, postage | £50.00 |
| Electronic Funds Transfer and Verification (per payment) | £45.00 |
| E-Conveyancing | £80.00 |
| Procuring Title Documents | £20.00 |
| AML and Compliance Check (per person) | £50.00 |
Disbursements (funds payable to third parties) will be added to your legal bill.
Remortgage Fees:
A fee estimate for a typical property remortgage.
| Legal Work | £650.00 |
| Redemption Fee (per redemption) | £100.00 |
| Electronic Funds Transfer and Verification Fee (per payment) | £45.00 |
| Procuring Pre Completion Searches | £20.00 |
| Office expenses, i.e. I.T., telephone, postage | £50.00 |
| E-Conveyancing Fee | £80.00 |
| AML and Compliance Check (per person) | £50.00 |
Disbursements (funds payable to third parties) will be added to your legal bill.
How long will the process take?
From our experience, a typical Purchase will reach the exchange stage within 6-8 weeks from the date Contract papers are received. The completion date will then be agreed between the parties. However, there are many variables which can impact on this timeframe, and we will keep you updated on your specific transaction as we progress. We operate an online secure Case Management System, which will allow you to obtain updates on your Case, 24 hours a day, 7 days a week.
STAMP DUTY, do I have to pay it?
Stamp Duty Land Tax (SDLT) is a tax that is paid when purchasing a property in the UK. The stamp duty rate ranges depending on the value of the property bought,the purchase price ans whether you are a multiple homeowner or a first time buyer.
We refer you to www.gov.uk/stamp-duty-land-tax
What are searches?
Searches are enquiries with public authorities. They give information about the property you plan to buy. For example, they will cover flood risk, any future developments, any chancel repair liabilities, any access rights, or local restrictions. Searches are necessary where you are purchasing with the assistance of a mortgage. Searches are optional when you are a cash purchaser, but always encouraged, nonetheless.
What is a Bundle Search?
A Bundle Search includes a Local, Environmental, Water and Drainage and Flood Search. If you are proceeding with a mortgage, we are obliged to carry out this search on behalf of the lender. If you are a cash purchaser, you can choose if we perform this search.
These searches are essential, since the searches might reveal serious problems with the property. The sellers may not have told you about the problems, or they may not know about them either. None of this information is held by Land Registry, and it may not be discoverable by inspecting the property.
What is a chain?
Property chains occur when there are two or more property transactions taking place. For example, if you are at the bottom of the chain, you could be a first-time buyer or not needing to sell your home, while a person at the top of the chain will be buying a property but has no need to sell their home. Chains can vary in length and the longer the chain can sometimes lead to a delayed transaction.
What is a Drainage Search?
A Drainage Search should provide information as to whether or not foul drainage from the property and surface water drainage from the property goes into public sewers and whether or not the property is connected to the water supply and the whereabouts of the nearest public sewers and water mains and whether they run through the property (which of course could affect plans to extend the property).
What is the difference between exchange and completion?
Exchange of contracts takes place once your solicitor has reviewed your searches, reviewed the title to the property and has received replies to any enquiries. If you are buying with a mortgage, we may also need your lender's approval. Once the above is satisfied, deposit monies are requested and contracts are exchanged with you having given authority to do so. On exchange, a date for completion is given unless you are buying a new build property. Completion is then the date that the final balance is sent over to the sellers and the buyer receives the keys to their new home.
When do I receive my title deeds?
Your title deeds are the documents that prove that you are the new owners of your property. Your solicitor is responsible for registering your property at the Land Registry and informing the Mortgage Lender of the new owners of the property. These deeds are stored at the Land Registry but will be sent to you as part of the post completion protocol.
Family
Can I get a quick divorce?
There is one process involved when issuing divorce proceedings and anyone who issues divorce proceedings will go through the same process. This process takes around 6 months depending on how quickly the other spouse responds to the application. If the divorce petition and process is not done correctly, this can cause considerable delay. Unfortunately, there is no such process that would substantially reduce the time it takes to finalise divorce proceedings.
If my spouse and I agree a financial settlement, will the court just approve it?
When parties reach agreement on financial matters without issuing court proceedings, a consent order has to be drafted by a solicitor and submitted to the court for approval along with a form that provides the court with information regarding the parties financial situation. Financial information including values of any properties and all other assets such as savings as well as liabilities, income and pension values must be provided to the court so the court can determine whether the agreement reached is a fair one. If the Court does not consider the agreement to be fair, the court will not seal the order and may possibly raise questions. This is why it is very important that parties obtain independent legal advice on their financial situation prior to entering negotiations with their former spouse to be.
On divorce, will I get half of all the matrimonial assets?
Most cases do not see an equal division in the assets. To determine how matrimonial assets are divided, we need to consider the full financial picture (which is why financial disclosure is advised). We would look at the assets, debts, pensions and income of the marriage to determine what a fair division would be. An equal division of assets is usually seen where both parties are in financially similar positions, of similar ages and there are no children involved. Most people do not fall into that category and so the assets will be divided to allow both parties to rehouse themselves in similar properties, taking into account each parties mortgage capacity. If there are children of the marriage, they will be prioritized and ideally they will need to reside near their schools. Sometimes, there are not enough funds to adequately accommodate the children if the assets are divided between the parties and so in such cases the court will consider an unequal division or no division until the youngest child reaches the age of 18 or completes their secondary education. As mentioned above, the court has many factors to consider and each case turns on its own facts. No one size fits all in financial remedy cases and so what has been ordered in one person’s financial remedy matter, will not necessarily be ordered in another’s. This is why it is important to obtain legal advice on such matters at your earliest convenience, even if it is just an initial meeting to obtain an idea of how your matter may be viewed by a court, so as this can assist you in negotiations.
When my spouse and I separate, will the court make an order for the children to spend equal time with both parents?
This really depends on the situation the family finds themselves in. If one parent does not have suitable accommodation or does not reside close to the children’s school, it is unlikely that a court will make such an order. Generally, it is more likely that a court will make an order for alternate weekends and half the school holidays as well as alternate Christmases or other important holidays as a minimum if there are no safeguarding issues. If the parties reside relatively close to the schools however and both parents can work their employment commitments around the children, then there could be a sufficient argument for a shared care order where both parties spend a relatively equal amount of time with the children.
Private client
*Private Client Fees
Fees for Wills:
- Straightforward Single Will - £275 + VAT (£330).
- Straightforward Mirror Wills - £475 + VAT (£570).
Fees for Probate:
Our fees for Probate are bespoke as every estate is different and our fees are based on the work involved. Please contact the Private Client Team, Nicola Daniel, Solicitor and Director, if you would like a quote.
Inheritance Tax:
- When administering an estate, inheritance tax may be payable. Estates under £325,000 are free of inheritance tax because they fall under the ‘nil rate band’.
- If any part of the estate is above £325,000, then inheritance tax at a rate of 40% is payable on the balance.
- However, our trusted probate team are happy to help advise you on any possible exemptions that might be applicable. For example, if a principal residence is being passed down to children, then a further threshold may apply. This is known as the ‘residence nil rate band’.
Disbursements (expenses we administer on your behalf):
- Current Probate Registry fee - £273.
- Copy of Sealed Grant - £1.50 per copy.
- Bankruptcy searches - £2 per person.
It must be noted that these disbursements are not within our control and are subject to change. Therefore, please take these figures as estimates.
Administration of Estate:
We understand that losing a loved one is a difficult time. We will ensure that your best interests are kept at heart, including the following:
- Take your detailed instructions and provide initial advice.
- Provide you with a dedicated and experienced probate solicitor to work on your matter, with a team to support you throughout the process.
- Identify the legally appointed executors or personal representatives and beneficiaries.
- Accurately identify the type of probate application you will require.
- Carry out asset and liability searches and apply for a s.27 Notice to be made, if instructed to do so.
- Obtain the relevant documents required to make the application.
- Complete the probate application and the relevant HMRC Forms if inheritance tax is payable, and liaise with HMRC and the Probate Registry on your behalf.
- Draft any Witness Statements, if required to support the application to the Probate Registry.
- Make the application to the Probate Registry on your behalf.
- Communicate with all organisations, if instructed to do so.
- Collect assets and pay liabilities; prepare estate accounts, and distribute all assets in the estate.
If we are instructed for the entire Probate process, this generally takes a period of 6-12 months, depending on the size of the estate.
Does a Will and a Lasting Power of Attorney do the same thing?
No. A Will deals with your estate (your assets and liabilities) once you die, but a Lasting Power of Attorney allows the person you have appointed to manage your assets whilst you are alive. A Lasting Power of Attorney comes to an end when a person dies.
Is it important to have a Will?
Yes. If you die without a Will, the Rules of Intestacy will apply, and these determine who can manage your estate and who will inherit your estate. This may not be in accordance with your wishes, especially if you do not want a close relative to inherit, since this can only be done through a Will. Furthermore, if you are a couple living together who are not married or in a civil partnership, your relationship is not recognised by the Rules of Intestacy and you will not inherit anything from your partner if he/she dies without a Will. In addition, if your estate is likely to be subject to inheritance tax, your Will can be an effective method of tax planning to minimise the tax liability.
When someone dies, do you always need a Grant of Probate?
No. If the person has assets in their sole name, the value of which are over a certain amount (usually £50,000) then a Grant of Probate will be needed to release those assets. In addition, assets such as shares, property, and usually premium bonds, require a Grant of Probate to be sold or transferred.
Litigation
Can you do 'no win no fee'?
Unfortunately, we do not offer a ‘no win no fee’ transaction. Our clients will need to be invested and believe in the case.
How long will it take?
We will be in the hands of third parties such as the Court and the opponent. We can provide you with an estimated timescale at the outset based on our previous experience of similar cases.
General
Are you open on weekends?
We do not open to the public on weekends. However, if you are struggling to attend our offices please let us know and we will see if we are able to assist you.
Useful Websites
www.home-envirosearch.com (reveals environmental issues)
www.homecheck.co.uk (free basic environmental risk assessment)
www.ihavemoved.com (notifies utility companies etc for you after completion)
www.landreg.gov.uk (information on property prices and role of the Land Registry)
www.cml.org.uk (Council of Mortgage Lenders site, provides information on various lenders)
Why do I have to complete ID verification?
We are required by the Law Society and Council of Mortgage Lender guidelines to verify the identity of all clients. Taylors Legal use a secure online system called First AML to allow its client to upload their personal details without the risk of any data breaches and avoid having to come into the office.
If you've been unable to find what you're looking for please contact us and we'll get back to you as soon as possible.