This Price Transparency Guidance is intended to give our current and potential clients information on indicative pricing for our private client services. Clark Boyle is registered with the Law Society of Scotland (LSS) who issue guidance on legal practice requirements. One such requirement is for all registered firms in Scotland to provide easily accessible Price Transparency Guidance about fees, outlays and costs that may be incurred when instructing solicitors.
Private Client Services
Usually, our private client services will fall under one of the following categories. Sometimes, some of these transactions will be combined into one larger piece of work:
- Sale of a residential property;
- Purchase of a residential property;
- Re-mortgage of residential property (Conveyancing);
- Wills;
- Combined Power of Attorney (Financial and Welfare);
- Executries (winding up a deceased person’s estate).
Most of our legal services carry a fixed fee, others are calculated by a scale or unit cost that varies with the amount of time or other efforts appropriate for the completion of the case or transaction. In addition, outlays are charges and costs paid out by the Firm on behalf of the client to other companies, offices, organisations – e.g. the sheriff court, Registers of Scotland, search companies, local authorities and others. These charges are incurred by the client as a necessary part of the work being done. The Firm makes no margin or profit on outlays; they are simply passed on to the client at whatever cost is charged to us.
This guidance will give the consumer, a general idea of the cost to help make an informed choice before engaging with a solicitor. There is no requirement at this stage for the enquirer to provide any personal information (such as names or contact details). The published information below for each practice matter indicates an average or typical price to allow consumers to have an informed understanding of the likely cost of the services offered, and of the factors which may influence the final cost. As far as possible, the price information provided is complete and contains enough information to allow the consumer to understand the price that is relevant to their circumstances. It is acknowledged that it may not be possible to publish an accurate price for every service in every scenario, or to anticipate unusual complexities therefore the price is an average or typical price only and the final price will be dependent on the circumstances of the legal matter. The prices detailed below are not a binding quote.
When you instruct us to attend to your legal matter it is mandatory that we then provide you with a written communication that further details the legal matter in question. This costing is part of an obligation to issue clients with Terms of Engagement – a set of relevant information made up of a formal letter and other related documentation. This will include:
- An outline of the work to be done;
- An estimate of the total fee or the basis upon which the fee will be charged including VAT and outlays;
- Details of any contribution towards Legal Advice and Assistance or Legal Aid and details of the effect of preservation or recovery of any property if relevant;
- Who will do the work; and
- Who the client should contact if they have any concerns or complaints. We are happy to discuss this guidance with you and the examples given. Please do not hesitate to contact us if you would like to do so.
Sale of a residential property
The following list represents the key steps which might typically be involved in a sale transaction and which would be included in our estimated costs. The very nature of legal matters often gives rise to unforeseen complexities and additional work. Where complexities arise or the nature of the client’s instructions change, we inform the client of this and provide revised price information at the earliest opportunity.
- Carry out required Anti Money Laundering checks;
- Receive offer on property and take your instructions;
- Obtain redemption statements from current lender (the amount required to repay your mortgage);
- Order Title Deeds;
- Negotiate and advise on missives (contract);
- Carry out property searches as required;
- Revise draft documents received from purchasers’ solicitors;
- Conclude missives (and notify you that this has happened);
- Have transfer deeds signed by you;
- Complete sale;
- Repay any mortgages and pay any outlays due;
- Prepare the discharge of the standard security and submit this to the Registers of Scotland; and
- Pay any surplus funds due to you.
The fixed fee for this work might typically be £695 (+ VAT at the prevailing rate, currently 20%)
The outlays which you might typically require to pay in addition to our fee might be:
| Standard property searches | £160.00 |
| Coal report (if required) | £55.00 |
| Registration of Advance Notice | £20.00 |
| Registration of mortgage discharge | £80.00 |
Purchase of residential property
The following list represents the key steps which might typically be involved in a purchase transaction and which would be included in our estimated costs:
- Carry out required Anti Money Laundering checks;
- Submit a formal written offer (we won’t charge for unsuccessful offers);
- Negotiate missives (contract) to conclusion;
- Examine title deeds;
- Check standard property searches;
- Revise draft deeds received from seller’s solicitors;
- Draft transfer deed for approval;
- Prepare mortgage security deeds for signing;
- Report to mortgage lender and obtain loan funds;
- Complete purchase;
- Submit LBTT Return; and
- Register deeds.
The fixed fee for this work might typically be £795 (+ VAT at the prevailing rate, currently 20%)
The outlays which you might typically require to pay in addition to our fee where the price is £150,001 – £200,000 might be:
| Registration of title | £400.00 |
| Registration of mortgage security | £80.00 |
| Registration of Advance Notice | £20.00 |
The cost of registering your title varies according to the price. In addition, Land and Buildings Transaction Tax (LBTT) may be payable – the amount due will vary according to the value of your transaction and your own circumstances.
Re-mortgage of residential property (Conveyancing)
In the event that we are instructed in the remortgage of your home (or another residential property owned by you) we would expect to carry out the following work on your behalf:
- Examination of title deeds;
- Perusal of mortgage offer;
- Drawing up documentation such as the new mortgage deed and discharge of the old mortgage deed;
- Ordering and perusing searches and reports;
- Reporting to your lender and obtaining loan funds;
- Redeeming existing mortgage; and
- Registration of Deeds.
The fixed fee for this work may be £395.00 (+ VAT at the prevailing rate, currently 20%).
The outlays which you might typically require to pay in addition to our fee might be:
| Registration of Mortgage Discharge | £80.00 |
| Registration of Standard Security | £80.00 |
| Advance Notice | £20.00 |
| Standard Property Searches | £160.00 |
| Coal Report (if required) | £55.00 |
Will
It is essential that a will is properly drafted and clearly expresses the testator’s intentions. The law of succession is complex and may not be what you expect so it is important to get legal advice. In order that we may carry out this piece of work, we will:
- Take instructions on who you wish to appoint as executor;
- Establish and take details for the beneficiaries in your estate;
- Draft Will for your consideration;
- Once finalised arrange for execution of same;
- Forward a copy to you; and
- Arrange for the principal to be stored in our Will safe.
The fee for this work may be £150.00 (+ VAT at the prevailing rate, currently 20%).
If there are more complex family circumstances, dispositions of assets or possible exposure to Inheritance Tax, then the work required may be more substantial and therefore come at additional cost.
There are usually no outlays associated with this process.
Combined Power of Attorney (Financial and Welfare)
A Financial and Welfare Power of Attorney allows a trusted individual to act for another person who is incapacitated mentally and/or physically through. This document would normally come into effect when an individual was unable to carry out their normal business (such as personal banking) and/or input into their personal care. The document is lengthy and complex and must be tailored to the specific needs and circumstances of the individual instructing the Power of Attorney. There is also an onus on the solicitor to ensure that the person instructing the Power of Attorney has the capacity to do so and that they are not under any undue influence from a third party.
A straightforward POA will require:
- A meeting to discuss matters and take instructions;
- Prepare documentation for signature by the instructing individual and their proposed attorney;
- Solicitor’s certification of documentation;
- Arrange for registration of the Power of Attorney document with the Office of the Public Guardian; and
- Forward a copy of the registered deed to you and your attorney as required.
For a straightforward single POA, the fee may be £250 (+ VAT at the prevailing rate, currently 20%).
There may be an additional fee if a home or hospital visit is required.
The only outlay which you might typically require to pay in addition to our fee is £85, charged by and paid to the Office of the Public Guardian.
Executry (winding up of a deceased person’s estate)
You may require to instruct us to deal with an individual’s estate following their death. Unfortunately, it is not possible to carry out this work for a fixed fee and it is difficult to give an estimate of costs without having all of the information available.
The cost of this type of work depends on a multitude of factors including whether or not the deceased person signed a valid will prior to their death, the extent of their estate and whether they owned any property (such as a house). The cost is likely to be greater if there is no Will in place as more work is required in appointing an executor and obtaining an insurance policy called a Bond of Caution.
Typically, executry work may involve:
- meetings and consultations with the executor in the estate;
- collating and valuing the assets and liabilities of the deceased person;
- corresponding with financial and other institutions (such as banks, government organisations, share registrars and the like);
- preparing court documents and forms for Confirmation (Scottish equivalent of Probate), obtaining Confirmation from the Sheriff Court;
- ingathering the financial estate;
- accounting to the executor; and
- distributing the bequests and shares of estate among beneficiaries.
Inheritance tax affects only a small number of estates but in the event it does apply this generates considerable work and further expense. If property requires to be sold or transferred as part of the administration of the estate the processes to be followed would be similar to those outlined above.
All executry work carried out by this firm is assessed by an independent legal accountant applying our hourly rate of £250 (+ VAT at the prevailing rate, currently 20%)
Outlays may include Court Confirmation dues of £276 or £554 depending on the size of the estate plus £8 for each individual asset certificate required.