My Conveyancing

1. COMPANY CLIENTS

In consideration of J Keith Park & Co accepting instructions from any Limited or PLC Company to which these terms and conditions of business relate, the Director(s) signing acceptance on behalf of such company agree(s) and understand(s) that in the giving of instructions he or she guarantee(s) ( and if more than one jointly and severally) that all fees and expenses owed by the company to the firm shall be paid, to the intent that such Director(s) shall be personally liable for payment of the same in addition to any liability falling upon the company itself.

2. FEES

In accordance with the requirements set down by the Law Society we are required to provide you with certain information at the outset of your transaction particularly in relation to legal costs and our complaints procedure.

A. We can confirm that our professional charges will be as stated if the transaction proceeds in the usual manner. However if the property has a more complex title, defect or other aspect involving non routine work then this will necessitate an increase in our charges which will be billed on an hourly rate. The basis for calculation of our fees is mainly by reference to the time spent by the lawyer dealing with the matter. The time charged for will be all time necessarily spent, including attendances upon a client or other parties where necessary; consideration, preparation, and working on file papers; all correspondence; making or receiving telephone calls, all travelling time and the firms business running costs and expenses. The firm’s hourly rate does not include VAT which will be added when an invoice is prepared for the appropriate amount (presently 17.5%). Specific rates may be agreed at the firm’s absolute discretion from time to time but will not apply in the absence of an express written agreement to such effect. Subject to the type of work undertaken, current rate bands are broadly, but not exclusively, as follows:-

a) Solicitor £200.00 per hour b) Legal Executive £175.00 per house c) Paralegals & Others £145.00 per hour.

These rates are subject to review on the 1 April of each year and a written notice of the new rates shall be given in writing. In default of such written notice the rates shall increase by 7 ½ % per annum such increase to be calculated from 1 April each year.

B. If the transaction does become more complex then we shall advise you as soon as it becomes apparent that an hourly rate will apply. If you then wish to withdraw your instructions we will only charge you for the work undertaken up to and until the withdrawal of your instructions received by us in writing.

Should your transaction fail to proceed to completion our fees will be reduced to reflect the work done by that stage together with VAT and any disbursements incurred.

C. Professional fees may be calculated not only having regard to time spent, but also by reference to a value element. This value element may reflect a number of factors, and may include the importance of the matter to the client, the responsibility on the firm in conducting it, the degree of expertise and competence required and any exceptional despatch with which the matter has been concluded. Such factors will normally be reflected and shown in the bill as an added percentage mark up to the basic time cost calculation.

D. Where clients instructions require that interviews shall take place, or other work be undertaken, necessarily outside normal office hours or at weekends, the firm reserves the right to increase the level of the hourly rate to reflect this service to its clients and charges will be calculated accordingly. No written agreement will be required in this respect since clients will be aware of their instructions for the carrying out of such work during “unsociable” hours. You can control your legal costs by avoiding unnecessary attendances or telephone calls and keeping your calls to reasonable lengths. Please note that the estimate provided allows for up to 10 telephone calls to our office. Experience has shown this to be a generous average. We reserve the right to charge additional fees if this limit is exceeded. Prepare for attendances by bringing appropriate notes and documents, together with a list of questions you need to ask. Be ready to answer our enquiries on the substance of your case, to assist us in advising you and preparing it subsequently.

E. The firm will sometimes meet expenses on its clients’ behalf in order to progress the matter. These disbursements (monies which we pay on your behalf to third parties) may include payments for such items as Official Copies, filed plans, searches and Land Registry fees etc. You are at all times responsible for the payment of disbursements upon demand. The demand can be made at anytime during the transaction.

F. We will normally ask you for money on account of any disbursements ie; searches and you must pay such amounts promptly to avoid any delay in the progress of the matter. The firm has no obligation to effect such payments and unless and until funds have first been provided by its clients for such purpose

G. In the event of a request for payment on account being ignored or remaining unpaid for more than one calendar month, J Keith Park & Co reserves the right to decline to act further for such a client. The full amount of work done to date will be then billed and a final account rendered which will be a debt due from such client to the firm. Where payment is not made (including cheque clearance) within one calendar month of delivery of a final account then interest will be charged at 14.4% pa or 5% over Lloyds TSB Bank PLC base rate from time to time, calculated from the date of its delivery.

H. The firm’s charges will be payable whether or not a case proceeds to completion.. Where a case does not proceed to completion for any reason during the period in which the firm is instructed, then the firm shall nevertheless be entitled to charge for all its work done on the basis stated in these conditions. Should your transaction fail to proceed to completion our fees as quoted will be reduced to reflect the work done by that stage together with VAT and any disbursements incurred.

LIEN

Pending payment in full of all charges in respect of which an invoice has been delivered, the firm will exercise its legal right (known as a “lien”) to retain any file papers, documents, deeds, or securities notwithstanding a request from a client or third party for transfer of them. In certain circumstances release of the file papers and other documents, may be possible to a subsequently instructed Solicitor provided that an undertaking for payment of all charges has first been given in a form acceptable to the firm at its sole and absolute discretion.

STORAGE OF PAPERS AND DEEDS

A. Following the conclusion of your case the firm will retain the papers for such period as it shall consider appropriate in its absolute discretion. The firm will usually arrange for files of papers to be retained on computer records. Unless written notice is received before conclusion of client’s case, it will be presumed that the client has no objection to destruction of the original file papers.

B. Where stored papers, wills, deeds or securities are retrieved from storage by the firm then a minimum charge of £25 plus VAT shall be raised. However, J Keith Park & Co reserves the right to make any administration charge necessary based on time spent in retrieval, perusal, engaging in correspondence, or any other work necessary to comply with such instructions given by or on behalf of a client or former client for whom such papers etc., have been stored and also in restoration to hard copy of any file of papers which have previously been microfilmed or otherwise stored electronically.

OTHER MATTERS

Please note that we are not authorised by the Financial Services Authority to conduct investment business. However we are included on the register maintained by the Financial Services Authority so that we can carry out insurance mediation activity, which is broadly the advising on, selling and administration of insurance contracts. This part of our business, including arrangements for complaints and redress if something goes wrong is regulated by The Law Society. The register can be assessed by the Financial Services Authority web site by clicking here.

Please be aware that our legal fee may include a payment to an intermediary and will be detailed on our final completion statement should this be the case.

Where a Broker has arranged your mortgage and a fee is payable, it will be paid by us direct to the Broker on completion. By instructing us you are consenting to us proceeding in this way.

CONFIRMATION AND ACCEPTANCE OF INSTRUCTIONS

Unless otherwise agreed in writing, receipt by the firm of a signed copy of any letter / questionnaire sent to a client confirming his/her instructions will be deemed an acknowledgement by that client that he/she has read, fully understands, and agrees and accepts not only the contents of such letter (with any enclosures) but also these Terms and Conditions of Business. Subject to the application of future hourly rates, the said Terms and Conditions shall apply to all actual instructions (whether written or verbal) given to and received by J Keith Park & Co and also to any renewal of instructions where the firms retainer had previously been determined.

AUTHORITY AND CONSENTS

In the absence of any written agreement to the contrary, any acceptance by a client of these Terms and Conditions of Business will be deemed as being consent to the charging basis and the retention(s) referred to in the preceding Clauses hereof and treated as an authority for the firm to carry out the work and/or incur any disbursements referred to therein.

Until the end of December 2006, every on-line quotation request who then instructs us to carry out their conveyancing, will be entered into a draw to win back their legal fees on the sale or purchase of their property. If a client intructs us to carry out both sale and purchase, then then 50% of the fees will be refunded. This offer does not include disbursements, e.g payments to third parties such as stamp duty and search fees. Closing date: 8.00pm – 31.12.06. All entrants who have insructed us from 01.10.06 to 31.10.06 will be entered into the draw. The first entry drawn on 01.01.07 will be the winner and will receive their fees refunded, as defined above, by cheque. The winner will be notified by post/telephone. The winner’s details are available from The Competition Administrator, Keith Park Solicitors, Claughton House, 39 Barrow Street, St Helens, Merseyside, WA10 1RX. Keith Park Solicitors reserves the right to use the winner’s name, photograph and hometown in future promotions. No correspondence will be entered into. Employees of Keith Park Solicitors and their agents are not eligible to enter the competition.