Probably expected that there will be an increase in the legal fees for people buying property.
- Lawyers are allowed to give discounts on certain property matters
Paragraph 6 of the Solicitors’ Remuneration Order 2006 (SRO 2006) expressly prohibited lawyers from giving discounts on the stipulated scale fees.
The old Paragraph 6 of the SRO 2006 with the heading of “No discount” , strictly states that : “there shall be no discount on fees specified in this Order.”
The SRAO replaces the old paragraph 6 with the following:
(1) A solicitor may give a discount of up to 25% on fees specified in the First and Third Schedules, except for any transaction governed by the Housing Development (Control and Licensing) Act 1966 [Act 118] or any subsidiary legislation made under that Act.
(2) No discount may be given on fees specified in the Second, Fourth, Fifth and Sixth Schedules.”
The First Schedule specifies the fees for Sales and Transfers, while the Third Schedule specifies the fees for Charges, Debentures, and other Security or Financing documents.
The SRAO also increases the fees in these schedules.