Solicitors normally charge using the hourly rate method. But there are lots of other funding options. Let our experts guide you through the process and find the right solution for you.
Solicitor’s costs are traditionally charged in accordance with the time spent.
Fees can be higher for more experienced solicitors and can be dependant on the work and where they are located. In court proceedings these costs are controlled in the range of £146-409/hour dependant on experience and location.
Hourly rate method of charging
A solicitor’s fees are usually based on an hourly rate and time spent on a matter. The more time spent on a matter the higher the cost.
However, the two most important aspects for a client to understand is
- the complexity of a matter, which may require a lot of time considering and mentally working towards a solution (as well as the time drafting the various documentation to provide the solution that the client requires) and
- the hourly rate charge.
In the UK, the highest hourly rates charged tend to be dictated by region (London being the most expensive) and the degree of expertise of the department or fee earner providing the legal services. For example, an expert in company matters who is based in London will be more expensive than a solicitor with no such specialised expertise in the same location.
Alternative charging options
However, these “time costs” are not the only way to charge for legal services. There are other ways, and more so nowadays where legal reforms have expanded the ways in which legal services are funded, to deal with the costs of legal services. Please click here to examine the options available.
Examples of how you can pay such costs include
- fixed fees,
- blended rates
- “no win no fee” agreements.
- damages based agreements and
- conditional fee agreements.
However, what is most important is to realise that a solicitor is never free – and even if you enter in to one of these types of agreements you will end up being charged if the case is successful. Always remember this and work out the likely cost, even if it is a delayed cost.
At Francis Wilks & Jones we are extremely familiar with the difficulties faced when considering solicitors costs and in providing solutions to these dilemmas. We can advise you on what is appropriate to your personal circumstances. We will discuss funding models with you and have access to a wide range of litigation funders in the event you require such assistance to enable your claim to be issued.
Please call any member of our commercial litigation team for your consultation now. Alternatively e mail us with your enquiry and we will call you back at a time convenient to you.