Solicitors charges for buying home?!

snips86x

snips86x

snips86x

Soldato
Joined
14 Nov 2012
Posts
17,971
Location
Chesterfield
I'm looking to buy a house, so I don't have to rent anymore, and I've made a few enquiries to local solicitors requesting a quote for the purchase.

I must say, I'm astonished at the price being quoted and can't help but feel they're money grabbing *******s. Saying that, this is my first purchase so I'm not quite sure what to expect.

I have been quoted the following:

Legal Fees
Purchase: £895.00 to £995.00
Telegraphic Transfer Admin Fee: £30.00
VAT @ 20%: £185.00 to £205.00

Total: £1,110.00 to £1,230.00

Including as appropriate: Acting for Mortgage Lender and completion of SDLT.
Payments to Others
Stamp Duty Land Tax: TBC
Land Registry Registration (electronic) Fee: £95.00
Land Registry Search Fees: £7.00
Search Fees: £195.20
Management Fees: £200.00 (TBC)

Total: £497.20

Summary of Costs
Our Legal Fees (Including VAT): £1,110.00 to £1,230.00
Payments to Others: £497.20
Total: £1,607.20 to £1,727.20

My question is, for those who have purchased their own homes, have you managed to make any savings by using alternative conveyances?

Do you have any recommended solicitors who are able to reduce fees for purchasing?
 
Welcome to the world of house buying!

Obviously shop around as you have done. There are online specialists which can be cheaper. However, we went with a solicitor in walking distance of my office - that way any signed documents I could return by hand (nothing being delayed or going AWOL in the post). Also means you can chase up in person, rather than have to leave phone messages!
 
I used an online conveyancer which bought the price down significantly. It wasn't completely smooth but it did the job. They had a really nice online portal where your documents were stored and it was very clear what the next step in the process was.
 
Those prices look OK, but do use a solicitor that can be recommended by someone you know locally. A local solicitor would be better as you may have to pop in and sign things occasionally.
There may be ways to reduce that price but in the end what percentage is that of the house price?
Just wait until you try to sell and get a quote from an old style estate agent!! Luckily good ways to keep selling costs down these days.
Hope this helps.
Andi.

PS Be careful with any requests for bank transfers or moves of money to different accounts. Always check with a real person that bank details are correct and never move money just because a guy rings up.
 
Just to note, I'm not selling, just buying as I'm currently renting. Are there conveyance services recommended? Something for me to look into at least.
 
Mine (from a local solicitor) was only 1 to 200 cheaper than yours.

Remember only certain solicitors are on the "approved panel" for some mortgages.
 
Also, could someone confirm is maintenance charge should be static amount on a monthly/annual basis? I find it hard to believe that the estate agents don't know what it is and have advised its an 'as and when' charge?
 
Maintenance as in site or flat or what?

Lots of modern estates have an estate management company as the council will no longer undertake these services. As such you have to pay into a fund, these funds try to set a sensible fee that can be taken on an annual basis (or similar) but at times something could come along that changes that funding model as a one off or permanently.
 
Mercenary Keyboard Warrior said:
Maintenance as in site or flat or what?

Lots of modern estates have an estate management company as the council will no longer undertake these services. As such you have to pay into a fund, these funds try to set a sensible fee that can be taken on an annual basis (or similar) but at times something could come along that changes that funding model as a one off or permanently.
Click to expand...

yeah, 2x1 bed flats in a detached property
 
The only one you should be concerned with really is the below...

Legal Fees
Purchase: £895.00 to £995.00
Telegraphic Transfer Admin Fee: £30.00
VAT @ 20%: £185.00 to £205.00

Everything else are disbursements you are going to incur with any solicitor IME.
 
Those numbers are not a million miles away from what I'd expect tbh. Something in the £750-1500 range.

Buying a house can easily run to £5k in costs once you factor in stamp duty, removal costs and other sundries, although obviously some of that is variable based on property value etc.
 
You haven't given a purchase price but those costs are entirely normal for higher end freehold or typical leasehold property.

As for money grabbing expletives, solicitors do 10x more work than agents but few people seem to complain about their costs compared to solicitors :p

By the sounds of it you're buying a flat in a converted house? In which case that's about the worst you could do second only to a new build property if you're concerned about fees.

Feel free to use an online conveyancing factory but I would put money on you being back either a) in 3 months time when you can't contact them and you have no idea what's going on or b) in 3 years time when you come to sell and you find out they didn't actually look into more than just whether the seller is legally ok to sell to you and there are serious issues uncovered.
 
Take a look to see who your mortgage provider suggests, it might save more hassle.

I got it free from lloyds, they constantly have offers with it free if you use their service.
 
R.O.S.S.I said:
The only one you should be concerned with really is the below...

Legal Fees
Purchase: £895.00 to £995.00
Telegraphic Transfer Admin Fee: £30.00
VAT @ 20%: £185.00 to £205.00

Everything else are disbursements you are going to incur with any solicitor IME.
Click to expand...

Thanks for that, I'm assuming you mean 'concerned' as in the only ones i really need to worry about ;) At least I've got an idea which is good.

HangTime said:
Those numbers are not a million miles away from what I'd expect tbh. Something in the £750-1500 range.

Buying a house can easily run to £5k in costs once you factor in stamp duty, removal costs and other sundries, although obviously some of that is variable based on property value etc.
Click to expand...

I don't think I'm paying stamp duty as I have no other properties or interests in properties but that's a scary figure :eek:

Skillmister said:
You haven't given a purchase price but those costs are entirely normal for higher end freehold or typical leasehold property.

As for money grabbing expletives, solicitors do 10x more work than agents but few people seem to complain about their costs compared to solicitors :p

By the sounds of it you're buying a flat in a converted house? In which case that's about the worst you could do second only to a new build property if you're concerned about fees.

Feel free to use an online conveyancing factory but I would put money on you being back either a) in 3 months time when you can't contact them and you have no idea what's going on or b) in 3 years time when you come to sell and you find out they didn't actually look into more than just whether the seller is legally ok to sell to you and there are serious issues uncovered.
Click to expand...

Yeah, it's a converted detached house going for £112,900 but I'm sure I can get it for less. I have a 2nd viewing arranged for tomorrow and a friend who is a structural engineer is going to give it the once over - would prefer to avoid paying out for a survey if one isn't required.

Kuros said:
Take a look to see who your mortgage provider suggests, it might save more hassle.

I got it free from lloyds, they constantly have offers with it free if you use their service.
Click to expand...

Currently I have an Approval In Principle so I'm guessing that when it comes to it, the provider could change?? I'll certainly ask my mortgage adviser about it anyway.
 
snips86x said:
Thanks for that, I'm assuming you mean 'concerned' as in the only ones i really need to worry about ;) At least I've got an idea which is good.
Click to expand...

Yeh sorry should have said. They are what the solicitors are actually charging for carrying out the work.

The rest are disbursements which are generally just charges passed on to you which the solicitor will pay on your behalf so no matter who you go with there wont be much variation at all.

I'd echo what everyone has said so far about using a proper bricks and mortar solicitors rather than an online conveyancing warehouse type of place. You probably will end up with the same result but from personal experience and from hearing off others going with the online places tends to add a whole other layer of stress to the transaction.

Also don't always go with who your estate agent or mortgage provider suggests. 9 times out of 10 they are paid a referral fee for the work so it isn't in their interest to send you to someone who is good and will do a good job, they just want their kick back!

(I should add I work for a law firm).
 
If that is a new leasehold flat that isn't that far off for the South of England. You should not use an online conveyancing "farm" and try and find a good local solicitor or a big national firm that has decent standards.
 
You must log in or register to reply here.
Back
Top Bottom