SERVICE & FEES TRANSPARENCY

SERVICE STANDARDS, CONCERNS AND FEES

Treating Clients Fairly Policy Statement

At Net Solicitors we are fully committed to providing the highest standards of advice and service to our clients by working in partnership with them.

Our clients are our most valuable asset and our aim is to ensure that we deliver a client-friendly, robust, reliable and cost-effective legal service to them.

The fee-earners at Net Solicitors have a strong reputation in the legal market and we strive to build long-standing, trusted relationships with all of our clients. We are authorised and regulated by the Solicitors Regulation Authority and our Treating Clients Fairly Policy is designed to ensure that we consistently deliver fair outcomes to our clients; in line with the SRA’s Code of Conduct.

We are committed to promoting equality and diversity in all our dealings with clients, third parties and employees.

OUR SERVICES

In delivering our commitment to Treat Clients Fairly, Net Solicitors makes every effort to ensure that our clients are totally satisfied with the legal service they receive and we endeavour to:

make any and all possible accommodations for clients with individual needs so as that they are not at any disadvantage
ensure that clients are able to read any documents sent to them that require their understanding. We facilitate this by proactively providing large type documents for our clients with visual impairment
communicate with our clients in a way that they will understand, by using ‘plain’ and not ‘legalese’ language
update our clients regularly on the progress of their matter, especially with updates as to costs, ensuring they understand any potential outlays or fees that may arise
provide our clients with a high quality legal service by offering highly experienced lawyers who are experts in their particular area of work
work with our clients in an empathetic and personable way, particularly when the matter is emotionally delicate, such as when working on a probate with relatives of the recently deceased
operate our Complaints Handling Procedure in an open and fair way, whereby clients are aware of their right to complain to either the firm or Legal Ombudsmen
ensure that a client or prospective client is treated in a non-discriminatory way that respects diversity
be flexible in our approach, explore options and be open to new ideas
inspire and empower our clients for whom we act
provide practical solutions explained in straightforward language and ‘jargon free’
Passionate about what we do and the clients that we serve
Work continually as to how we can enhance and improve our services
Ensure timely responses and communication at every level in the organisation
Understand the importance of the client’s matter to them
Respect clients’ wishes and beliefs.

OUR APPROACH

Our priority is to provide our clients with an excellent service underpinned by the quality of our advice. We are committed to ensuring that our clients want to use our services, stay with us and recommend us to their families, friends and colleagues.

Our service is shaped by listening to our clients’ needs and understanding what is important to them. We take responsibility for meeting the needs of our clients and always look for way to improve the quality of our service. We operate a rigorous file review system as part of our internal audit procedures as well as regularly conducting client surveys to ensure that we consistently enhance the service levels for the client.

We recognise that our employees are critical to delivering a positive client experience and ensuring our clients are treated fairly. All of our employees are fully trained in dealing with our clients and in treating them fairly.

CONCERNS AND COMPLAINTS

We seek to provide you with the highest standard of service, however, if at any point you become unhappy or concerned about the service we have provided, then you should inform us immediately, so that we can do our best to resolve the problem.

In the first instance, it may be helpful to contact Bola Fakoya to discuss your concerns and he will do his best to resolve any issues at this stage. If, however, you would like to make a formal complaint, simply contact us and we will provide the required documents. Making a complaint will not affect how we handle your case.

What to do if we cannot resolve your complaint

The Legal Ombudsman can help you if we are unable to resolve your complaint ourselves through our own rigorous complaint process. They will look at your complaint independently and it will not affect how we handle your case.

Before accepting a complaint for investigation, the Legal Ombudsman will check that you have tried to resolve your complaint with us first. If you have and we have not been able to reach a resolve, then you must take your complaint to the Legal Ombudsman:

Within six months of receiving a final response to your complaint

and

No more than six years from the date of act/omission; or
No more than three years from when you should reasonably have known there was a cause for complaint

The contact details for the Legal Ombudsman are:

Visit: www.legalombudsman.org.uk

Call: 0300 555 0333 between 9am and 5pm

Email: enquiries@legalombudsman.org.uk

Legal Ombudsman PO Box 6806, Wolverhampton, WV1 9WJ

The Solicitors Regulation Authority can help you if you are concerned about any aspect of our professional behaviours, which could include discriminating against you because of your age, disability or other characteristic or not accounting to you for monies provided to us for the conduct of your matter.

CONVEYANCING: FIXED FEE

We do not offer fixed fee conveyancing as it would not be beneficial to you. When you make an enquiry for us to conduct work on your behalf we will provide you with a detailed estimate of costs and timeframes and as part of our Treating Clients Fairly Policy and update you if there are any changes. Below are some worked examples to demonstrate how our fees are calculated but you will only be charged for time spent. You will appreciate that there are many variables and so it is important that you discuss the specifics of your matter with us and only take these worked examples as a guide.

EXAMPLES

PURCHASE OF A FREEHOLD RESIDENTIAL PROPERTY IN THE PRICE BAND OF £200,000 to £500,000

[Prices on application relating to other price bands]

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements

Estimated Legal fee £1260 + VAT (second hand property) or £1680 + VAT (newbuild)
For acting for you upon a mortgage * from £105 to £540 + VAT
Search fees from £300.89 to £416.89 inclusive of VAT
HM Land Registry fee £135 (second hand property) or £270 (newbuild) (no VAT payable)
Stamp Duty Land Tax variable as below
Electronic money transfer fee £30 + VAT
VAT payable £279 to £450
Subtotal inclusive of VAT £2009.89 to £3386.89

* Not chargeable on cash purchases

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Search Fees & Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property and a number of other variables. For example, ownership of other properties, anywhere in the world; reliefs such as First Time Buyer Relief or Principal Main Residence Relief. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website. There are different rates for Non-Residential Properties and Corporate Purchases.

For example:

Purchase of Principal Main Residence at £500,000 - £15,000

First time buyer at £300,000 - £0

Investment purchase at £350,000 - £18,000

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 4-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 6-12 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lender’s solicitors if needed
Receive and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of seller’s solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer with you
Send final contract to you for signature
Agree completion date (date from which you own the property)
Exchange contracts and notify you that this has happened
Arrange for all monies needed to be received from lender and you
Complete purchase
Deal with payment of Stamp Duty Land Tax
Deal with application for registration at Land Registry

PURCHASE OF A LEASEHOLD RESIDENTIAL PROPERTY IN THE PRICE BAND OF £200,000 TO £500,000

[Prices on application for other price bands]

Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales.

Conveyancer’s fees and disbursements

The same as the purchase of a freehold property (second hand or newbuild) plus a supplemental estimated fee of £420 + VAT for additional leasehold work.

Total inclusive of VAT £2513.89 to £3890.89

Anticipated Additional Disbursements for Leasehold Purchases

Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 – £200 + VAT.
Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 – £200 + VAT.
Deed of Covenant fee *– This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £100 – £200 + VAT.
Certificate of Compliance fee *- To be confirmed upon receipt of the lease, as can range between £100 – £200 + VAT.

* Not required on a Newbuild

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents especially the management pack from the managing agents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

Stamp Duty Land Tax

This depends on the purchase price of your property. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website. The earlier examples given especially hold true for leasehold property purchases within the band. On a New Lease there may be additional Stamp Duty Land Tax on the rent.

Stages of the process

The precise stages involved in the purchase of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

Take your instructions and give you initial advice
Check finances are in place to fund purchase and contact lender’s solicitors if needed
Receive and advise on contract documents
Carry out searches
Obtain further planning documentation if required
Make any necessary enquiries of seller’s solicitor
Give you advice on all documents and information received
Go through conditions of mortgage offer
Send final contract to you for signature
Draft Transfer or on Newbuild agree Lease
Advise you on joint ownership
Obtain pre-completion searches
Agree completion date (date from which you own the property)
Exchange contracts and notify you that this has happened
Arrange for all monies needed to be received from lender and you
Complete purchase and satisfy Landlord’s Notice requirements & other aspects
Deal with payment of Stamp Duty/Land Tax
Deal with application for registration at Land Registry and satisfy any compliance requirements on purchase

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-8 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take 12-16 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.

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 or lease which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
this is the assignment of an existing lease and is not the grant of a new lease unless a newbuild or involves an extension of a lease whether by consent or under statute
the transaction is concluded in a timely manner and no unforeseen complication arise
all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

SALE OF A FREEHOLD RESIDENTIAL PROPERTY IN THE PRICE BAND OF £200,000 to £500,000

[Prices on application relating to other price bands]

Our fees cover all of the work required to complete the sale of your home, together with redeeming mortgages (if any) and work association with this.

Conveyancer’s fees and disbursements

Estimated Legal fee £1030 + VAT
For acting on behalf of the mortgage lender in redemption £105 + VAT
Provision of official documentation £9 (no VAT)
Electronic money transfer fee £30 + VAT on Redemption
VAT payable £233
Subtotal inclusive of VAT £1407

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as indemnity policies. We handle the payment of the disbursements on your behalf to ensure a smoother process.

How long will my house sale take?

How long it will take for you to sell your house will depend on a number of factors. The average process takes between 6-8 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are at the top of the chain, it could take 12-16 weeks. However, if you are selling a leasehold property that requires dealing with numerous pre-contract enquiries, this can take considerably longer.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have suggested some key stages:

Our estimated fee assumes that:-

SALE OF A LEASEHOLD RESIDENTIAL PROPERTY IN THE PRICE BAND OF £200,000 TO £500,000

[Prices on application for other price bands]

Our fees cover all the work required to complete the sale of your home, including the redemption of the appointments of service charges and ground rent.

Conveyancer’s fees and disbursements

The same as for the sale of a freehold property plus a supplemental estimated fee of £630 + VAT for additional leasehold work.

Total inclusive of VAT £2163

You will also have to pay for a management pack usually between £250 + VAT and £600 + VAT.

Stages of the process

The precise stages involved in the sale of a residential leasehold property as per the freehold sale vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

Take your instructions and give you initial advice
Obtain information as to cost of Management Pack from Managing Agents
Submit Property Information Forms and other forms for your completion
Prepare and advise on contract documents/Property Information Forms & documentation requirements
Submit contract and support documentation to the seller’s solicitors
Deal with purchaser’s solicitors pre-contract enquiries
Send final contract to you for signature
Agree completion date (date at which you sell the property)
Exchange contracts and notify you that this has happened
Arrange for all monies needed to be received from the purchaser’s solicitors and you
Complete sale

How long will my house sale take?

How long it will take from you accepting your offer until you can move out will depend on a number of factors. The average process takes between 4-12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are at the top of the chain, it could take 6-12 weeks, however, if you are selling a leasehold property that requires extensive replies to pre-contract enquiries involving managing agents and freeholders, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges may apply.

Our estimated 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 complication arise
all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
no indemnity policies are required. Additional fees and disbursements may apply if indemnity policies are required
no licence to assign is required from the Landlord.
this is the assignment of an existing lease and is not the grant of a new lease or involves an extension of a lease whether by consent or under statute

PROBATE

We are required to publish prices for probate work in relation to uncontested cases, where all the assets are in the UK. This includes both testate and intestate and taxable and non-taxable estates. However, there are a range of variables which could affect the price quoted (e.g. there is a separate cost for preparing tax returns).

APPLYING FOR THE GRANT, COLLECTING AND DISTRIBUTING THE ASSETS (FIXED QUOTE)

Total costs estimated between £750-£1250 + VAT where this is a small estate with no inheritance tax to pay.

The exact costs depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

We will handle the full process for you. This quote is for estates where:

There is a valid will
There is no more than one property
There are no more than 2-5 bank or building society accounts
There are no other intangible assets
There are 3-4 beneficiaries
There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
There are no claims made against the estate

Disbursements (not included in the fee):

Probate application fee of £155
10 office copies £5
£7 Swearing of the oath (per executor)
£50 Post in The London Gazette and Local Newspaper – Protects against unexpected claims from unknown creditors.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Potential additional costs

If there is no will or the estate consists of any share holdings (stocks and bonds) there are likely to be additional costs that could range significantly depending on the complexity of the estate and how it is to be dealt with. We can give you a more accurate quote once we have more information.
Dealing with the sale or transfer of any property in the estate is not included.

How long will this take?

On average, smaller estates that fall within this range of being dealt with within 3-6 months. Typically, obtaining the grant of probate takes 3 weeks. Collecting assets then follows, which can take between 6-12 weeks. Once this has been done, we can then distribute the assets. This normally takes 1-2 weeks.

LARGER ESTATES AND INVOLVING PAYMENT OF INHERITANCE TAX

These will be dealt with usually on an hourly basis. Our hourly rate is £300 + VAT. Estimates will be provided as soon as we have a clear idea of the nature and complexity of the task at hand following receipt of comprehensive instructions from our client.