FTB House Buying Conveyancing Quote - Sound Good?

Gareth83

I've had my offer accepted on a house and my broker has sorted a mortgage with the Abbey.

I have just used http://www.abodeconveyancing.co.uk/conveyancing.htm to get a quote

The following quote takes into account the tenure is leasehold, the local authority was selected and the lender was selected. This makes it more accurate than a generic quote as it tailored to what is required.

for purchase value of: £98000

breakdown of costs & disbursements £
total fees 275
local authority & drainage searches (£199 if no HIP) 0
*IMPORTANT - NEW*: chancel repair liability 0
coal mining search 24.7
limestone mining search not required
cheshire brine search not required
china clay mining search [+£49.35 if required] not required
tin mining search [+£58.75 - £79.90 if required] not required
land registry searches 6
value added tax 48.12
stamp duty 0
land registry fees 100
bank telegraphic transfer [if required by lender] 35.25
TOTAL PRICE you will pay terms&conds. 489.07 THERE ARE ABSOLUTELY NO HIDDEN EXTRAS!

can any other firm match the abode Fee Guarantee?

IMPORTANT: WHEN GETTING A QUOTE FROM OTHER FIRMS PLEASE THOROUGHLY CHECK ANY GUIDANCE NOTES UNDERNEATH THE QUOTE -E.G. FIRST SCROLL STRAIGHT TO THE END OF THE NOTES TO SEE ADDITIONAL COSTS!

• no completion = no fee -INCLUDED
• completing Stamp Duty Land Tax (SDLT) form -INCLUDED
• professional indemnity -INCLUDED
• redemption of existing mortgage -INCLUDED
• dealing with your mortgage lenders conveyancing -INCLUDED
• charges for expedited completion after exchange -INCLUDED
• leasehold, newbuild, right-to-buy, buy-to-let fees -INCLUDED
• ALL abode administration and ALL legal fees -INCLUDED
• fixed fee rates -INCLUDED
• postage -INCLUDED
• photocopying -INCLUDED
• use of case trace (online case tracking) -INCLUDED
• email and sms text message updates -INCLUDED
• EXACT Local search fees - NOT an estimation
• possible other searches such as coal mining & Cheshire brine.
• NO conveyancing factories.
• NO one man bands.
• NO meetings necessary

TOTAL PRICE you will pay terms&conds. 489.07 THERE ARE ABSOLUTELY NO HIDDEN EXTRAS!

I think that's an excellent quote and I like the no completion = no fee term.

What do others think?

I will only instruct once the mortgage survey comes back...

Thoughts?

princessamy86

Looks pretty good to me, not heard of them personally though.

poppysarah

Wow - that looks cheap. Might keep it bookmarked

Gareth83

For selling my girlfriends property in a separate deal would be £231.25 all in

dottiepeas

Wow!...that is so cheap!...You save loads on stamp duty! My stamp duty is £2100 alone! Really wish we had places for £98k where we live! Congratulations!...and good luck with the purchase!!

RetroBob

Is it normal/acceptable for a solicitor to ask for a payment up front? Two ask for £300, estimated total cost £1100.

alisonp_2

RetroBob wrote: »

Is it normal/acceptable for a solicitor to ask for a payment up front? Two ask for £300, estimated total cost £1100.

It's normal to ask for Search fees up front - I would normally be asking for the Local Authority and Drainage Search fee up front.

SelenaLouise

Has anybody tried this websites services out?
Would be good to know if what you see is what you get....

m_13

I see from their website that they don't do the work themselves, they subcontract it to a panel:

Who are the Panel?
A national panel of solicitors regulated by the Law Society, and licensed conveyancers regulated by the Council of Licensed Conveyancers has been selected from many applicant firms around the country. abode have chosen only well established, yet forward looking firms. Indeed all of the current panel have been in business for over 25 years*Correct Sept 2003 and communicate electronically where possible so the client knows they will be getting only the very best service.

They make their money by charging the company who do your work!

How does abode make money?
abode charges an administration fee of £75 + vat, for each sale or purchase and £50 + vat for a remortgage WHICH IS FULLY INCLUDED IN YOUR ONLINE QUOTE as part of "Total Fees".

The Guardian included them in an article on online conveyancing and they were cheapest then: http://www.guardian.co.uk/money/2006/apr/29/movinghouse.property

I don't really understand how they have one telegraphic transfer fee and say 'if required by lender'. If you are buying a property then they would usually pay across the deposit and then the completion monies by telegraphic transfer. Other methods don't clear the same day!

JayZed

gareth, that's a very cheap quote, but bear in mind that you tend to get what you pay for.

The first time I bought a property I used a cheap online conveyancer and regretted it: I had to chase them repeatedly about every single thing, and they were always impossible to get hold of. The whole process took much, much longer than it should have donw because of them. The second time I used a "proper" local solicitor and although it cost more it was a much less stressful experience.

I don't know anything about abode, and of course they might be fine. Still, you might want to consider how important it is to you to have an efficient, hassle-free conveyancing process, and whether it's worth paying a premium for peace of mind.

Disclaimer: I am not a solicitor or estate agent and don't have any kind of vested interest in this!

becky2011

JayZed wrote: »

gareth, that's a very cheap quote, but bear in mind that you tend to get what you pay for.

The first time I bought a property I used a cheap online conveyancer and regretted it: I had to chase them repeatedly about every single thing, and they were always impossible to get hold of. The whole process took much, much longer than it should have donw because of them. The second time I used a "proper" local solicitor and although it cost more it was a much less stressful experience.

I don't know anything about abode, and of course they might be fine. Still, you might want to consider how important it is to you to have an efficient, hassle-free conveyancing process, and whether it's worth paying a premium for peace of mind.

I totally agree with this. I am currently using an online conveyancing company and they have been an absolute nightmare.

They have never called me with updates etc and started the searches 1 month after I paid the upfront fees. They ignore my emails and sometimes don't even answer the phone. The online 24/7 tracking system is never updated either. I am now into the 14th week after I had the offer accepted and obviously the sellers are not too happy about the timescale so far as we are not in any chain. We are due to exchange contracts on Thursday so fingers crossed.

If I had to do it again I would use someone that had been recommended and local to me.