Equity Release Fees
Depending on the individual circumstances of your case, there may be a requirement for additional fees to be incurred on your behalf.
At Adlington Law we believe in fixed fees and no surprises
Disbursements will be charged per case as follows:
| Telegraphic Transfer fee(Per Payment) | £40 plus VAT |
| HM Land Registry downloads (per copy) | £7 plus VAT |
| AML checks (per client) | £6 plus VAT |
| Postage | £10 |
Our Fees
We believe in keeping things simple, transparent, and stress-free. Our fees cover all of the legal work* required to complete your Equity Release transaction from start to finish.
Because each lender has slightly different requirements, the work involved can vary. This means fees may differ from case to case. However, as a guide, our typical fee is around £725 + VAT.
No matter what your individual fee is, we’ll always confirm a clear, fixed fee at the very beginning of your application — and we’ll provide it to you in writing, so there are no surprises.
Equity Release Costs
- Legal Fees: £725.00
- VAT (20%): £145.00
Depending on the individual circumstances of your case, there may be a requirement for additional fees to be incurred on your behalf. If this is the case, you will be advised of this, in writing, at the outset of your case. However, if this requirement only becomes apparent at a later time, once we are in receipt of your Lender’s offer pack and are aware of your Lender’s requirements, we will immediately notify you of the additional costs to be incurred.
Time Involved in Dealing with your Transaction
Every case will vary depending upon its own circumstances and, therefore, this will invariably impact upon the time it takes to complete your transaction.
Once we have fully reviewed your offer and have full details of your individual circumstances, we will endeavour to provide you with an estimate with regard to the proposed timescale of your transaction. However, you should be aware that this is only an estimate and, if we are reliant upon any other third parties, these timescales can, unfortunately, be extended outside of our control.
We will keep you constantly up to date with the progress of your transaction and will continue to keep you appraised of the timescales throughout so that we can help you to understand the process and manage your expectations with regard to the estimated time of completion.
*the figure quoted is an average fee which assumes the transaction will be straightforward with no added elements.’
In the event that there are any additional elements which must be dealt with to ensure that your equity release proceeds, the following fees may apply:
| Equity Release Supplemental Fee List | |
| Additional Land Registry Searches (OS1, Bankruptcy and any other ad-hoc searches) | £15.00 |
| Amending name or address discrepancy at HMLR | £85.00 |
| Assent (deceased proprietor to transfer property from estate) | £750.00 |
| Adverse possession (where no legal title held to land occupied by borrower as part of the property) | £500.00 |
| Administration fee for bank reconciliation and electronic retention of file | £5.00 |
| Assured Shorthold Tenancy agreement (AST) drafted by Adlington Law | £250.00 |
| Assured Shorthold Tenancy agreement (AST) drafted by client/ Third Party but reviewed by Adlington Law to ensure compliant | £75.00 |
| Bankruptcy element involved in the case | £500.00 |
| Buy to Let property case | £400.00 |
| Change of Lender | £250.00 |
| Change in method of ownership (tenants in common to joint tenant or reverse) | £195.00 |
| Conveyancing (buying/selling) expedition fee for request to exchange and complete on the transaction on the same day (SIM) | £200.00 |
| Court of Protection involvement | £375.00 |
| Dealing with a restriction on the title | £200.00 – £300.00 |
| Dealing with an annex/additional building within the boundary of the property | £300.00 |
| Dealing with a transaction in which there is a transfer of title at undervalue | £180.00 |
| Dealing with lenders’ requirements for additional occupiers | £50.00 per person |
| Declaration of Trust | £400.00 |
| Deed of Variation drafted by Third Party | £350.00 |
| Deed of Variation drafted by Adlington Law | £750.00 |
| Deed of Variation of a Will | £1000.00 |
| Dismantling a Trust to satisfy the lenders’ requirements | £975.00 |
| Equity Release Purchase – fee for work involved in satisfying lenders’ extra requirements . Where we are not dealing with the Purchase. | £625.00 |
| Estate Rent Charge compliance review | £150.00 |
| Fee for completion of a Probate Review that is required in order to progress to completion | £180.00 |
| Fee for completion of a Trust Review that is required in order to progress to completion | £180.00 |
| Fee for completion of a Trust Review (where more than one trust on property) that is required in order to progress to completion | £220.00 |
| Fee for completion of a Will Review that is required in order to progress to completion | £180.00 |
| Freehold Management Company involvement | £250.00 |
| Gifting advice letter | £50.00 |
| HM Land Registry expedition request fee | £85.00 |
| Isle of Wight consultant visit supplemental fee | £325.00 |
| Leasehold element involved | £250.00 |
| Lasting Power of Attorney involvement | £350.00 |
| Matrimonial element involved | £350.00 |
| New Build Purchase additional fee for checking development document bundle | £350.00 |
| Obtaining official copy of Will/Grant of Probate from “.gov.uk” or “Find a Will” platform | £20.00 |
| Pre-offer work fundamental to obtaining offer at clients’ request | £275.00 |
| Purchase of freehold/leasehold extension | £1,500.00 |
| Removal of deceased proprietor on legal title (joint tenant) nt | £75.00 |
| Removal of deceased proprietor on legal title (tenants in common) | £300.00 |
| Removal of entries on title such as cautions, restrictions, notices which are unacceptable to the lender | £195.00 |
| Removal of historic charge at the Land Registry | £195.00 |
| Removal of one or more proprietors from the Title | £225.00 |
| Reconstituting title to support application for adverse possession to Land Registry | £650.00 – £950.00 |
| SDLT Return submission to HMRC | £50.00 |
| Search request administration charge in purchase transactions | £25.00 |
| Second consultant visit (no fault on part of Adlington Law) | £175.00 |
| Second and subsequent charge/restriction – redemption obtained and removal | £75.00 per entry |
| Secured loan in respect of commercial lending – redemption obtained and removal | £175.00 |
| Septic tank compliance review | £125.00 |
| Shared ownership scheme involvement | £250.00 |
| Statement of truth drafted (name or address discrepancy) to satisfy Land Registry | £95.00 |
| Shortfall case involving collection of over £1,000.00 from client | £200.00 |
Shortfall case involving the gifting of funds from a third party (to be charged in addition to the std shortfall fee due to duplication of work) | £200.00 |
| Solar panels present – owned outright | £100.00 |
| Solar panels present – leased | £250.00 |
| Solar panels present – Deed of Variation required | £475.00 |
| Title defect rectification fee | £250.00 – £750.00 |
| Transfer of title into joint names and altering Title at Land Registry | £225.00 |
| Transfer of part | £175.00 |
| Undertaking provided to third party to facilitate the Equity Release transaction | £80.00 |
| Unregistered land element | £500.00 |
ALL PRICES STATED ARE SUBJECT TO AND EXCLUSIVE OF VAT* *The amount of work involved in these matters can vary. A range is given rather than a fixed fee. | *To be determined per case – dependent upon complexity |
This list is not exhaustive, and should any additional element arise which is more unusual we will, of course, immediately contact you to discuss the fixed fee element for dealing with that issue.