We will always provide clients with an estimate of costs at the outset of a litigation matter.
Costs & Fees
Litigation Costs and Costs and Charges
If your matter settles quickly, which is what we would always wish to achieve for you, costs will inevitably be far less than if you embark on Insolvency or Court Proceedings.
The general rule regarding costs in litigation is that, if your claim succeeds or if you successfully defend a claim you will be entitled to recover your costs from the claimant/defendant. On the other hand, if you are unsuccessful, you are likely to be required to pay the claimant’s/defendant’s costs.
However, the court has discretion to make a different costs order. The court will take into account factors such as the conduct of the parties and any Part 36 or other admissible offers to settle the case. It is very unusual for a party to be able to recover all of the costs incurred in the litigation. The actual amount of costs to be paid is subject to an assessment process, unless the parties can agree the amount that will be paid.
The standard basis of assessment is to allow costs to be recovered that were reasonably incurred, reasonable in amount and proportionate to the matters in issue. Costs which are disproportionate in amount may be disallowed or reduced even if they were reasonably or necessarily incurred. The court will also take into account the party’s costs budgets for each stage of the claim.
Each party is required to submit a costs budget, and to revise it as appropriate as the case progresses. If a party’s actual costs exceed its budget, the excess may not be recoverable from the paying party.
The estimated costs of the litigation can be one of the most significant factors to consider when deciding whether to pursue a case. We will always write to the client about the potential costs of the dispute.
Kerry Flahive’s hourly rate is £375.00 plus VAT per hour for each hour engaged on a matter. Lauren Whitehead’s hourly rate is £150.00 plus VAT per hour. The litigation team may also involve more junior fee earners and support staff acting on a client’s matter and their charge out rate ranges from £120-£150 plus VAT per hour.
Significant disbursements may be incurred in addition to solicitors’ fees (for example, experts’ or counsel’s fees), some of which may need to be paid up front. We estimate the following fees and disbursements for the claim amounts:-
- For a claim between £20,000.00 – £50,000.00 we estimate our fees to be £20,000.00 – £50,000.00 plus VAT and disbursements of £10,000.00 – £15,000.00 plus VAT.
- For a claim between £50,000.00 – £100,000.00 we estimate our fees to be £70,000.00 – £100,000.00 plus VAT and disbursements of £15,000.00 plus VAT.
- For a claim between £100,000.00 – £200,000.00 we estimate our fees to be £140,000.00 – £180,000.00 plus VAT and disbursements of £25,000.00 – £30,000.00 plus VAT.
- For a claim of £200,000.00 and above we estimate our fees to be £250,000.00 plus VAT and disbursements of £40,000.00 plus VAT.
Legal Fees – Residential Conveyancing
Our fees cover all the work required to complete the Sale or Purchase of your home, including dealing with your Lender (if any), and/or registering the ownership of your new home. Our fees also apply if you are remortgaging your property including dealing with your existing and new mortgage lender, as well as the Land Registry.
We charge a fixed fee of £750 plus VAT per property.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. They will vary depending on the location of the property. For efficiency reasons, we handle the payment of the disbursements on your behalf. The disbursements which we anticipate will apply are set out separately below. We will update you on the specific fees upon receipt and review of the contract pack from the seller’s solicitors.
Typically, disbursements include:
| Conveyancing searches- approx. | £450.00 |
| Land Registry disbursements- approx. | £45.00 (inc OCEs, bankruptcies and OS1) |
| Lawyer Checker or Confirmly | £21.60 |
| Bank TT Fee | £36.00 |
| AML and ID checks- re-mortgage | £13.50 per person |
| AML, ID and VOF checks- purchase | £18.30 per person |
In addition, there is a fee payable to HM Land Registry. This is worked out based on the purchase price and you can work out the amount you will have to pay by using the Land Registry website here: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees
Stamp Duty
In most cases, Stamp Duty Land Tax is also payable. This is calculated on the purchase price of your property although there may be exemptions to payment depending on the law from time to time. For example, if you are a first time buyer. The HMRC has a calculator to assist you on their website at:
https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
or if your property is in Wales you will need to use this link https://lttcalculator.wra.gov.wales/ChargeableTransactionType
Caveat
Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise including, for example, (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- The transaction is concluded in a timely manner and no unforeseen complications arise
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties in providing documentation
DEBT RECOVERY FEES
Our debt recovery fees apply to straightforward business-to-business debt recovery matters where the debt is undisputed, relates to an unpaid invoice, and enforcement action is not required.
If the debt is disputed at any stage and enforcement action becomes necessary, we will discuss the further work required with you and provide a separate estimate, usually based on the time spent in line with our hourly rates.
