how much will all buyers fees be?

ttocs

gonna make an offer on house for 70000, first time buyer and need some advise on what other fees there is to pay solicitor etc,etc. And how much roughly i should expect to pay.
Got a mortgage promise so know all the other fees to go on that.
thanks

timmyt

£500 plus VAT for the lawyer (and make sure you get a solicitor as this should be a big deal for you being your first property) and then there are standard extras such as Land Registry fee @£200, bank transfer fee, searches £66.63, completion seartches £8.

Dont pay less than £500p plus VAT for the lawyer, otherwise you will have chosen one that competes on price not quality.

Here is another post I just gave:


a solicitor is the cheapest party in a house move, even a surveyor comes out more and all other parties have exclusion clauses, lawyers do not.

and yet the lawyers job is the most important too.

if you go cheap like most forum readers/posters then the legal outfit (and they wont be a lawyer) will have as much respect for your deal as you clearly o not. sorry, but if you pay peanuts (i.e under £500 plus VAT for say £250 house purchase) then good luck to you. Lawyers sepdn weeks on your deal, and for just £500. A surveyor spends 45 mins and gets the same, an agent can spent a few days, a mortgage company too, charge twice lawyers on their arrangement fee.

No lawyer is going to go that extra mile for you if you pay rock bottom. They make so little from a conveyance as is. To make a profit on a fee of say £350 corners are cut, calls not answered, or answered by the 'dial 1 for crap and dial 2 for crapper' brigade.

So you have gone cheap.....or 'what you can afford' I should say....well, you are clearly IT literate so if you google usual steps in a purchase you will note that you have neither signed a mortgage deed, a contract, a stamp duty form or even had a property report summarising what you are going to buy.....at what point did you think you were able to exchange?

Sorry it sounds tough, but I hope there are a lot of readers who will start to get a bit more respectful of their own property deals if you expect your agents (the lawyers, yes most of you will not get a lawyer for your cheap fee) to.

andrewmp

I got a lawyer who was a lot less than £500 plus VAT (not including disbursments).

They were good, the purchase was completed very quickly.

I used Shepherd Evans Solicitors in Macclesfield, I'm in Sunderland so never actually saw the solicior but that didn't matter.

I got the quite through http://www.conveyancing-cms.co.uk/

My cost breakdown was:

Total Solicitor Fee:£270.00
Disbursements:£100.25
VAT:£47.25
Total (inc VAT):£417.50

I paid a bit more than this in the end though as certain things weren't included, I think it came to £500 ish all in.

G_M

well, you are clearly IT literate so if you google usual steps in a purchase you will note that you have neither signed a mortgage deed, a contract, a stamp duty form or even had a property report summarising what you are going to buy.....at what point did you think you were able to exchange?

What a rant! And OP didn't say he was Exchanging, said "gonna make an offer on house for 70000"

Conveyancing costs vary a lot. Price doesn't always = quality. When comparing solicitor's (conveyancer's) quotes, read this first.

timmyt

Read more carefully G_M.

Dont use comparison websites though, in case you are.

And dont pay £270 plus VAT, that is outrageously low. Land Reg fee itself is over £100 so the disbursements are too low. Something is missing.

It takes min 5 hours of work to do a routine sale/purchase, so for £270 you are getting the office junior, certianly not a dedicated solicitor start to finish.

Pay £500 min plus VAT decent lawyers do not charge less

andrewmp

timmyt wrote: »

Read more carefully G_M.

Dont use comparison websites though, in case you are.

And dont pay £270 plus VAT, that is outrageously low. Land Reg fee itself is over £100 so the disbursements are too low. Something is missing.

It takes min 5 hours of work to do a routine sale/purchase, so for £270 you are getting the office junior, certianly not a dedicated solicitor start to finish.

Pay £500 min plus VAT decent lawyers do not charge less

Worked for me, they were very good, did a good job, I reckon if you went to them direct they would charge more, would this make them better?

She wasn't the office Junior either!

This is moneysavingexpert, not spendmorefornoreasonexpert.com

Bufger

Heres what i spent:

Solicitors: £850 total (i could give a breakdown but sometimes its better just to know a ballpark figure so you can save towards it).
Surveyor: £400
Mortgage survey: £200 (some mortgages include this cost, depends on the deal)
Stamp Duty: £0 (got it in before it came back)

As a guide most people say have an extra £3000 on top of your deposit amount for everything else. As a worse case scenario you may have to pay for more than one survey as a sale can fall through after this point and you'll need another for the next house you're looking to buy.

I went for piece of mind rather than the cheapest. I had all of these services on recommendation from a landlord with several houses, he's been through all of this many times and now he always goes back to the same people for the work.

Bufger

timmyt wrote: »

Read more carefully G_M.

Dont use comparison websites though, in case you are.

And dont pay £270 plus VAT, that is outrageously low. Land Reg fee itself is over £100 so the disbursements are too low. Something is missing.

It takes min 5 hours of work to do a routine sale/purchase, so for £270 you are getting the office junior, certianly not a dedicated solicitor start to finish.

Pay £500 min plus VAT decent lawyers do not charge less

How much experience do you have with this? i think it greatly depends on the solicitors themselves, the cost of their business is only a minor indicator - actually meeting them, seeing their office, seeing their supporting staff + getting a quote can give you a good indication of what service they are likely to provide.

You're making your sentances look like fact rather than opinion. If they are facts then please submit your supporting evidence.

pastmybest

timmyt wrote: »

Read more carefully G_M.

Dont use comparison websites though, in case you are.

And dont pay £270 plus VAT, that is outrageously low. Land Reg fee itself is over £100 so the disbursements are too low. Something is missing.

It takes min 5 hours of work to do a routine sale/purchase, so for £270 you are getting the office junior, certianly not a dedicated solicitor start to finish.

Pay £500 min plus VAT decent lawyers do not charge less

Absolute and utter rubbish and thank you for showing us what nonsense you talk.

LittleMissAspie

I was quoted £200 exactly for land registry fee from three different solicitors... how come people are saying it's £100?

Edit: Here is the full quote from the guy we've decided to go with

DETAILS OF CONVEYANCING CHARGES
On your purchase (including your mortgage) £640.00

PAYMENTS TO OTHERS
VAT on our charges: purchase £112.00
Searchflow Search fees (all 3, if required) £214.41
Bankruptcy Search fee £4.00
Land Registry Search fee £4.00
Bank Transfer fee £11.75
Land Registry fee £200.00

So total is a little under £1200.

andrewmp

I think the land registry fees differ based on the purchase value, just guessing though.