MacRae, Stephen & Co

Solicitors, Notaries and Estate Agents
Tel: 01346 514545
Tel: 01346 514545
Fees

 

 

At MacRae Stephen & Co we strive to deliver a wide range of legal services to a high standard with an emphasis on transparency in our fees.

Before instructing any solicitor, it is important that you ask for a Fee Quote to ensure you know what costs and outlays will be incurred during a transaction.

Wherever possible we offer our services on the basis of a fixed and guaranteed fee and our written quotes will include all foreseeable outlays.

When the service is such that we cannot offer a fixed and guaranteed fee we will set out an hourly rate for the person doing the work. When this is the case to ensure our fees are fair the fee will be prepared from the file by an independent legal accountant.

We are always pleased to offer you a fee quote on one or other of these two methods.

 

Areas of Work

 

Estate Agency

At our office we offer the highest quality display of properties for sale and rent.

Our estate agency service is a complete package designed to take the strain out of selling your property. Our Property Manager continually studies the property market to ensure that the best possible service is be provided for our Clients. From a professional standard of photography through to excellent service for viewers and potential purchasers alike it is all in a day’s work for our dedicated staff.

All estate agency work is charged at 1% of the sale price + VAT  subject to a minimum of £500 plus VAT.

There are no extra fees or costs such as charges for marketing materials or services such as placing your property on our own web page. The fee is guaranteed and will not change.

If we are also instructed to carry out the legal work for the sale then this will be charged at £550 + VAT + Outlays. This fee is guaranteed and will not change.

 

Conveyancing (Sale where we have not carried out estate agency)

 At MacRae Stephen & Co we are happy to act for sales of all properties.

The fixed fee for the legal work is as follows and varies on the overall sale price of the property.

£0 – £74,000 = £750 + VAT

£75,000 – £149,000 = £850 + VAT

£150,000 – £249,000 = £950 + VAT

£250,000 + = £1200 + VAT

Outlays will be charged at cost to the client and will be quoted at the current rate when the fee quote issued.

The above fees are fixed and will not change.

 

Conveyancing (Purchase)

 MacRae Stephen & Co deal with a variety of conveyancing purchases throughout Scotland ranging from flats, houses, newbuilds, plots, commercial and agricultural properties.

The fixed fee for the legal work can be found below and varies on the overall purchase price.

£0 – £59,000 = £650 + VAT + Outlays

£60,000 – £99,000 = £750 + VAT + Outlays

£100,000 – £199,000 = £800 + VAT + Outlays

£200,000 – £250,000 = £900 + VAT + Outlays

£250,000 – £299,000 = £1,100 + VAT + Outlays

Any outlays are charged at cost and paid directly to Registers of Scotland. If applicable Additional Dwelling Supplement and Land and Building Transaction Tax will be quoted at the current rate when issued. Please note that these Outlays can change during the course of a transaction which is something out of our control.

There are no extra fees or charges if you decide to purchase your property with the use of the Help to Buy Scheme (or similar schemes).

Unless under exceptional circumstances and after full consultation with you we will not change any fee for work completed.

 

Discharge

Once a mortgage has been paid off for a property it is important that a Solicitor is instructed to discharge the security  being held over the property. We will write to the appropriate lender on your behalf to discharge the security and will then register the Discharge with Registers of Scotland.

The fee for a discharge is £200 + VAT + Outlays.

 

Transfer of Title:

 We often find that as Clients mature, they may wish to transfer the title of their property to their family. This will allow you to protect all rights of occupancy while retaining a liferent in the property. A liferent means that although you have transferred ownership of your property to your family you retain the right to remain living in the property.

A Transfer of Title can be undertaken for £425 + VAT + Outlays.

 

 Will:

 A Will is an important document which allows your wishes to be carried out after death. At MacRae Stephen & Co we understand that family matters may be complex and will make sure to advise you as to how best your requests can be carried out by your Executors.

A fee of £100 + VAT will be charged for a will. If a will is mirrored by a couple, then there will be no additional charge.

 

Power Of Attorney:

 A Power of Attorney is an important legal document that allows a trusted family member or friend to make decisions for you if you were to lose capacity. We make sure to discuss the Power of Attorney document with our Clients and its effects once registered with the Office of the Public Guardian (Scotland).

A single Power of Attorney is £350 + VAT. There is also a registration charge of £81  paid directly to the Office of the Public Guardian (Scotland). If a Couple wishes to mirror a Power of Attorney, then the only extra charge that will be incurred is the £81 registration fee.

 

Simplified divorce procedure

 The Simplified Divorce Procedure can be used in certain cases involving the irretrievable breakdown of your marriage or partnership. This requires the consent of your spouse/ partner based on one year separation. However, if you have been separated for two or more years, consent is not required. Providing there are no children of the marriage under the age of 16 and no financial matters needing addressed, you may be able to use this method.

The fee for a Simplified Divorce Procedure is £250 plus VAT plus court outlays.

 

Matrimonial and Dispute Resolution

 These matters  can be very complex depending on the circumstances of the case and the attitudes of both parties.

Fees for this work are charged on a Time and  Line Basis.

This is an example of work where we would issue an hourly rate for the job and have our files feed by an independent legal accountant to ensure that our fees are fair and reasonable.

Our hourly rates are £250 for a partner, £215.00 for a qualified assistant and £195.00 for a trainee.

 

General Business

 At MacRae Stephen & Co we offer a full range of legal services including Commercial sales, purchases and leases. We also provide a variety of rental services for both commercial and residential properties and are registered to act on behalf of the Residential Landlords in factoring properties.

To enable us to deal with such wide variety of legal services we work closely with a network of legal professionals and specialists throughout Scotland who can help with complex matters. This work is charged at cost.

While we cannot guarantee set fees for specialist work, we are happy to obtain quotations from the legal professional when matters arise.

We do not charge extra for home or hospital visits.

We hope you have found this page to be of help. If you would like to talk to us about the provision of our services and the costs please do not hesitate to come in to the office or give us a call.