We offer a variety of fee arrangements, including fixed fees, capped fees or hourly rates, depending on the type of work that you want us to undertake. In some limited circumstances, we can also offer a success fee arrangement, whereby you pay a heavily discounted hourly rate and then an agreed success fee if the work we undertake achieves the outcome that you wanted.
There are a number of differences between each;
| Fixed Fee | Hourly Rate | Capped Fees | |
|---|---|---|---|
| Description | These are a set amount, based on our estimation of how much work we think that we will need to do. | As the name suggests, this arrangement means that you pay for our services based on the amount of time that we spend. | A capped fee is an arrangement where we work on the hourly basis, up to a total amount that we agree. |
| Advantages | You know the amount that our services will cost.The amount is less than we would normally anticipate with an hourly rate, as we estimate how long we will need and then apply a discount. | The fees are paid after the work is complete (or at the end of a full calendar month) and in some cases can be paid over a period of time. The amount could be less than our fixed fee, if the work progresses more smoothly than we anticipated. | You know the maximum amount you will pay for the work we agree to do for you. This is useful if you have a set budget that you do not want to exceed and you could pay less than the fixed fee. |
| Disadvantages | The amount of the fixed fee is paid before we start work. Fixed fees are non-refundable, even if the work does not complete. | The work will normally cost more than our fixed fee unless we can conclude it more quickly than we expected. | There is a possibility that we may not be able to complete the work if the capped fee is too low. |
| We do not normally time record fixed fee work. If the matter does become more complicated or you wish to extend our instructions, we reserve the right to make an additional charge but would consult with you before doing so. | Our hourly rates are charged according to the seniority of the person dealing with the work.We use an electronic time recording system to calculate the amount of time spent in 6 minute intervals. | Time is recorded as with our hourly rate. We only offer capped fees under certain circumstances. The cap on these types of fee are normally set at around twice the fixed fee. |
Our fees are in part based on the experience of the lawyer dealing with your case, as well as the amount of time taken. Our hourly rates are ;
Partners/Directors/Consultants £180 to £250 plus VAT
Solicitors and Admitted staff £140 to £180 plus VAT
Non-Admitted Staff
(paralegals/legal executives) £50 to £150 plus VAT
Please note that we have a minimum fee for all new work, which is £240 including VAT. This covers up to an hour of our time, which includes the process that we have to go through to take you on as a client. This figure is included where we offer you a fixed or capped fee.