Guidance on Fees
We thought it would be beneficial to publish indicative fees for all the types of work carried out by our firm. These fees are noted below to allow you to make an objective assessment of the cost of our services. However every client has unique circumstances and we would prefer to give you an individual fee quote tailored to you for the work you wish us to undertake.
Please contact us on 0131 226 7464 or newenquiries@boydlegaluk.com and we can give you an accurate indication of the fees and outlays relevant to your circumstances.
Please see below guidance on our current fee for work undertaken in each department. We thought it would be beneficial to also include the necessary outlays payable by us on your behalf to third parties. For example, these outlays include the registration costs of registering deeds at the Registers of Scotland. We handle the payment of the outlays on your behalf to ensure a smoother process. The below is not a quote and is merely guidance only. We will send to you a formal quote on receipt of your enquiry.
Estate Agency
Home Report
It is a legal requirement to have commissioned a home report before marketing can start. Boyd Property will organise this on your behalf, depending on the valuation of your home prices start from £340 including VAT.
Marketing & Property Photography
These costs vary depending on the size of your home & marketing package you choose. Prices start from £415 including VAT.
A registration fee is payable to market your property on espc.com prices start from £299 including VAT,
Estate agent commission
Commission fees are only payable once we sell your property and contracts are signed. This is charged as a varied percentage of the sale price plus VAT depending on the value of your home. If you sell your home for £250,000, you could potentially pay 1% commission which would be £2,500 plus VAT.
Buying Service
If you need assistance with finding a property our Estate Agency can be of assistance. Our buying service is £750 plus VAT.
Please contact our Estate Agency Department to discuss your property sale fees on 0131 202 5935 or email sales@boydlegaluk.com.
Sale of a Residential Property
Our fees for a standard conveyancing transaction would be based on who undertakes the work:
Paralegal - £850 plus VAT and outlays for values up to £500,000
Paralegal - £1,000 plus VAT and outlays values £500,000 to £750,000
Solicitor - fee from £1,500 plus VAT and outlays for values up to £1,000,000
Typical Outlays:
- Property Search fees £192
- Plans report (if required) £84
- Registers of Scotland – fee for registering Discharge £80
- Advance notice registration fee for Disposition £20
- Electronic money transfer fee £21
Purchase of a Residential Property
Our fees for a standard conveyancing transaction would be based on who undertakes the work:
Paralegal - £850 plus VAT and outlays for values up to £500,000
Paralegal - £1,000 plus VAT and outlays values £500,000 to £750,000
Solicitor - fee from £1,500 plus VAT and outlays for values up to £1,000,000
Typical Outlays:
- Registers of Scotland – fee for registering Disposition – depends on value of the property
- Registers of Scotland – fee for registering Standard security £80
- Disposition Advance notice registration fee for Standard Security £20
- Money Laundering Management fee including VAT £120
- LMS fee £24 including VAT (if mortgage being taken)
Additional fees and outlays may be incurred if there is additional work for example Help to Buy ISA bonus payments, shared equity schemes etc.
Transfer of Title of a Residential Property
Our fees for a standard conveyancing transaction would be as follows:
- Legal fee £500 plus VAT and outlays
- VAT payable £100
Please note this fee does not include dealing with a remortgage.
Typical Outlays
- Registers of Scotland – fee for registering Disposition – depends on value of the property
- Registers of Scotland – fee for registering Standard security/ Deed of variation £80
- Registers of Scotland – fee for registering Discharge if required £80
- Advance notice registration fee for Standard Security £20 if required
- Search £76.80
- Money Laundering Management fee including VAT £120 if required
- LMS fee £24 including VAT (if new mortgage being taken)
Remortgage of a Residential Property
Our fees for a standard conveyancing transaction would be as follows:
- Legal fee from £550 plus VAT and outlays
- VAT payable £110
Typical Outlays
- Registers of Scotland – fee for registering Standard security £80
- Registers of Scotland – fee for registering Discharge if required £80
- Advance notice registration fee for Standard Security £20 if required
- Search £76.80
- LMS fee £24 including VAT (if new mortgage being taken)
Discharge of Standard Security
- Legal fee £180 plus VAT and outlays
- Vat payable £36
- Quick Search £3.60
- Registers of Scotland – fee for registering Discharge £80
Commercial
We will endeavour to agree a fixed fee, but it depends on the scope of work involved. It is not always clear at the outset as to the extent of the job.
For a New Lease or Assignations of a Lease – our Basic Fee is £1,500 plus VAT = £1,800
Additional Standard Costs are generally £200 plus VAT for additional documents required.
For purchase and sale transactions the fee can be based on a percentage of an agreed price or it can be based on the hourly rate of the solicitor doing the work.
Please contact us to discuss this matter.
Private Client
Standard Fee for Wills
- £250 plus VAT (£50) for single "simple Will" - TOTAL £300
- £300 plus VAT (£60) for couples "simple mirror Wills" - TOTAL £360
Wills including more complex drafting (including trusts) and/or requiring tax advice will be more expensive. Price to be confirmed on review of requirements.
Standard Fee for Powers of Attorney
- £300 plus VAT (£60) and outlays (£81) for a single POA - TOTAL £441
- £450 plus VAT (£90) and outlays (£162) for mirror POAs - TOTAL £702
- Additional £150 plus VAT (£30) (no outlay) for revocation of POA - TOTAL £180
The outlay relates to the cost of registering the Power of Attorney with the Office of the Public Guardian which costs £81 per Power of Attorney registered.
Standard Fee for Wills and Powers of Attorney being done simultaneously
- £525 plus VAT (£105) and outlays (£81) for a single "simple Will" and POA - TOTAL £711
- £700 plus VAT (£140) and outlays (£162) for couples "simple mirror Wills & POAs" - TOTAL £1,002
The outlay relates to the cost of registering the Power of Attorney with the Office of the Public Guardian which costs £81 per Power of Attorney registered.
Executry Work
Executry files are audited by a legal auditor but are subject to a minimum fee of £1,500 plus VAT (£1,800 including VAT)
Equity Release
Standard Equity Release Fee and Outlays
- £855 plus VAT and outlays
- VAT payable £171
- Quick Search £3.60
- Advance Notice £20
- Legal Report £76.80
Estimated Total - £1,126.40
If your property is in the old sasines register, we will need to deal with transferring the property to the new land register simultaneously with the equity release transaction. Please see below a note of the additional costs:
Sasines Titles (old Register cases) and Outlays
- £855 plus VAT and outlays
- VAT payable £171
- Additional fee of £250 plus VAT and outlays
- VAT payable £50
- Quick Search £3.60
- Advance Notice £20
- Legal Report £76.80
- Plans Report £84
- Copy Deeds £25.20 (per deed if required)
- Deed Plan £120 (if required)
Estimated Total - £1,655.60
If your property requires to the transferred into joint or single names, this can often be done simultaneously with the equity release transaction. Please see below a note of the additional costs:
Transfer of Title and Outlays
- £855 plus VAT and outlays
- VAT payable £171
- Additional fee of £250 plus VAT and outlays
- VAT payable £50
- Quick Search £3.60
- Advance Notices £40
- Legal Report £76.80
- Plans Report £84 (if required)
- Copy Deeds £25.20 (per deed if required)
- Deed Plan £120 (if required)
- Registration dues for Disposition - dependent on the value of the property
Estimated Total - £1,675.60
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ADDITIONAL OUTLAYS WHICH COULD APPLY TO EQUITY RELEASE TRANSACTION |
|
|
DISCHARGE OF OLD SECURITY - PER DISCHARGE |
£80 |
|
EDISCHARGE OF OLD SECURITY - PER EDISCHARGE |
£60 |
|
HOUSE VISIT CHARGE £120 plus VAT |
£144 |
|
KIR REPORT |
£78 |
|
COPY DEED FOR KIR REPORT |
£42 |
Trusts
Formation of a Discretionary Trust
Fees:
Double Trust £3,950 including VAT
Single Trust £2,900 including VAT
Potential Outlays
- Registration of Trust Deed £20 (per deed)
- Registration of Disposition – dependent on the value of the property
- Legal Report £76.80
- Plans Report £84
- Quick Search £3.60
- Copy Deeds £25.20 (per deed if required)
- Discharge of old security £80
- Deed Plan £120 (if required)
An annual charge for Trust administration is made of £75 plus VAT. VAT payable is £15.00.
Winding up a Trust
Transfer of Title to Beneficiary
- £450 plus VAT and outlays
- VAT payable £90
Preparation of Trust Deed for winding up Trust
- £250 plus VAT and outlays
- VAT payable £50
Preparation of Deed of Appointment
- £250 plus VAT and outlays
- VAT payable £50
These fees are for the documentation required. Any issues or disputed matters will be charged according to time. These fees do not include any tax advice required by the Trustees.
Typical Outlays:
- Registration of Trust Deed £20 (per deed)
- Registration of Disposition – dependent on the value of the property
- Legal Report £76.80