Complaints Procedure DIVERSITY PROFILE Oakwood Property Solicitors are a subsidiary company of Oakwood Solicitors group. At present there are three members of staff. Two people are categorised into the 35-44 category and one in the 25-34 category One staff member is from an Indian background and two others are White, British. There are two women and one male. All three staff members are from a non-religious background. OUR FEES EXPLAINED: RESIDENTIAL CONVEYANCING We aim to deliver a professional service which achieves your aims whilst being transparent about our pricing structure. Our focus is on providing excellent value for money whilst providing a personal touch to our service. We pride ourselves on being open, honest and transparent about fees and you can be assured that our quotes will include all fees we conceivably envisage will relate to your transaction at the point of instruction. FUNDING OPTIONS There are a number of ways to fund our services and we will aim to provide a funding package for you which is suitable for particular circumstances. We are not obliged to offer any particular method of funding and some methods of funding may only be available in cases where we assess that the case is suitable for both you and us. Typically, the funding options we can consider are: FIXED FEE Most transactions are dealt with on a Fixed Fee basis. We will provide you with a quote at the outset of a transaction based on the information available to us at the time we provide the quote. Our charge will not be relevant to the time we spend on the matter albeit an estimate of the likely time we spend on a matter will be used as the basis for setting the fee. Additional fees may apply during the transaction as further information becomes available and you will be advised of these as required. For example, it may be necessary to purchase an indemnity insurance policy and this may not be known at the time you instruct us. PRIVATE RETAINER You will pay us for our charges based on an hourly rate set in our retainer. We will provide you with an estimate of fees from time to time but our charges will be based on the amount of time we spend on your matter. Our standard hourly rates are dependent on the qualification and experience of the fee earner dealing with the matter. Grade of Fee Earner Hourly Rate GRADE A Any Solicitor or Legal Executive with over 8 years PQE. Grade A will include any Director £225 per hour plus VAT GRADE B Any Solicitor or Legal Executive with more than 4 year’s PQE but less than 8 year’s PQE. Any other fee earner with more than 4 years experience. £200 per hour plus VAT GRADE C Any Solicitor or Legal Executive with less than 4 years PQE. Any other fee earner with more than 1 year but less than 4 years experience. Trainee Solicitors shall be regarded as Grade C if they have more than 2 years experience prior to commencement of the training contract. £175 per hour plus VAT GRADE D Any Trainee Solicitor or other fee earner with less than 1 year’s experience. £135 per hour plus VAT An estimate of our charges on a Private Retainer are detailed below. ESTIMATE OF FEES The fees below only relate to residential conveyancing transactions. Additional fees or alternative fee structures where the transaction involves a commercial property, mixed use property or HMO. As most transactions are dealt with on a fixed fee basis we have set out our fixed fees below. Our fees are based on the value of the transaction. The fees below exclude VAT and Disbursements, such as Searches, Stamp Duty and Land Registry fees. We have listed common disbursements at the end of this page RESIDENTIAL PURCHASE MATTERS Purchase Price Basic Legal Fee (exc VAT) 0 – £100,000 £475 £100,000.01 – 150,000 £500 £150,000.01 – 200,000 £550 £200,000.01 – 250,000 £550 £250,000.01 – 350,000 £600 £350,000.01 – 500,000 £650 £500,000.01 – 600,000 £700 £600,000.01 – 750,000 £750 £750,000.01 – 900,000 £825 £900,000.01 – 1,000,000 £900 £1,000,000+ £1,000 ADDITIONAL FEES Where your purchase involves any of the following features, then the additional fees below will apply: Additional Matter Basic Legal Fee (exc VAT) Mortgage Fee £150 Leasehold Fee £195 Buying in a Limited Company £100 Help to Buy / Help to Buy ISA £100 Shared Ownership £100 New Build £100 Unregistered land £100 RESIDENTIAL SALE MATTERS Purchase Price Basic Legal Fee (exc VAT) 0 – £100,000 £425 £100,000.01 – 150,000 £450 £150,000.01 – 200,000 £500 £200,000.01 – 250,000 £500 £250,000.01 – 350,000 £550 £350,000.01 – 500,000 £575 £500,000.01 – 600,000 £600 £600,000.01 – 750,000 £650 £750,000.01 – 900,000 £625 £900,000.01 – 1,000,000 £700 £1,000,000+ £800 ADDITIONAL FEES Where your purchase involves any of the following features, then the additional fees below will apply: Additional Matter Basic Legal Fee (exc VAT) Mortgage Fee £150 Leasehold Fee £195 Buying in a Limited Company £100 Help to Buy / Help to Buy ISA £100 Shared Ownership £100 Unregistered Land £100 DISBURSEMENTS Disbursements are fees which we must pay out whilst acting for you. These are fees paid to third parties in respect of services relating to your transaction. Not all of the disbursements below will apply to your transaction and some of the amounts may vary on individual matters but the figures are given by way of example. Additional Matter Basic Legal Fee (exc VAT) AML (Money Laundering) Per Person £10 TT Fee £36 Office Copy Entries £6 Searches £220 Stamp Duty Individual to a transaction Indemnity Insurance As required per transaction HOW LONG WILL MY MATTER TAKE? The length of time of your matter will depend on a number of factors, many of which are beyond our control. For instance, if your transaction forms part of a large chain then delays can occur in other sections of the chain. Another cause of delay can be due to mortgage companies and obtaining offers or redemption statements.Typically, many transactions complete within 6 – 12 weeks but transactions can be both shorter and longer depending on a number of circumstances.