Legal Costs and Your Divorce

Depending on the size and location of firm, divorce rates vary. As a guide, central London based family law firms charge a lot more than family law specialists outside the capital – Be aware lawyers in central London firms do not necessarily have better expertise than out of London /regional family lawyers – their higher charge out rates are often to cover costs such an expensive lease for their offices. Hourly rates for solicitors can range from £200-500 per hour. Barristers can charge anything from £600 per hour. Some firms will ask for a certain amount up front and the rest of the fees to be paid thereafter on a retainer basis. Other firms may be happy to agree a fixed cost for your case.

Occasionally some law firms will be happy to receive a small deposit at the start and then receive the remainder once monies are released following the settlement. However, it’s worth stressing this isn’t normal practice.

Being able to pay the fees

If you have an amicable relationship with your spouse and it’s financially viable, you may agree upfront that the breadwinner will pay all the fees upfront and then funds can be reallocated once monies are freed up from the settlement. However, if the relationship has soured and become acrimonious, it’s highly unlikely you will reach such an agreement. If family or close friends are unable to help (a contract can be drawn up to reassure them they will get their loan returned by you at an agreed date) then the other option is to reach out to loan companies which specialise in divorce funding. Be warned the interest rates for such loans are very high and will keep accruing until you are able to pay back. If your settlement rests on the sale of your marital home and there are delays with sale, the £s can quickly mount up.

Talk to IBB Solicitors about divorce today

The divorce process can be long-winded, confusing and stressful. For expert insight and friendly advice, talk to experts at IBB Solicitors today. Whether you’re looking for a quick, stress-free end to your marriage, want to contest parts of your separation or simply want more information on the divorce process and financial settlements, we can help. Call our high net-worth divorce experts with no obligation today on 03456 381381 or email us at familylaw@ibblaw.co.uk