Conveyancing question

Phil_GT

I've received a conveyancing quote from my solicitor for a house i've had my offer accepted on.

i attempted to use this solicitor before on a previous property and i have received a new quote for my purchase which is as follows

legal fees (to include ULS refferral fee) - £395 + vat
Land registry dealing fee - £80
telegraphic transert £30 + VAT
land registry search £4
bankruptcy search £4
mining search £36.25

now i get most of that but what is a ULS refferral fee?

SmlSave

Hi Phil,

The quote looks good, apart from the TT which seems a little expensive. I take it you need a mining search?

No idea what ULS mean though.

monkeys_bunny

Are ULS the agents? some Solicitors pay the Estate Agents a referral fee for business. the quote looks good to me the TT fee is a little higher than i would think but only by about £5 or so

you must be buying for a low price

make sure you ask your solicitor if your unsure on what everything is, no point in accepting the quote and not knowing what its for haha

OneAimMan

The quote seems reasonable in fairness, not high compared to some quotes I had.
I'd ask around, the quote can vary quite a bit but what's more important is you find a firm that is professional and helpful. Ask friends and family for any recommendations.

@SmlSave
I think £25-30 is standard TT fee for most banks.

Phil_GT

that quote doesnt include £200 they require upfront for searches etc

purchase price 80k

20% deposit

monkeys_bunny

has it not got a HIP then?

were you buying? just out of interest

Phil_GT

should have a hip.

there is a option to look at it on the website but u need a password.

buying in nottinghamshire

monkeys_bunny

If it has a HIP why do they need money for searches?

they will have no outlay at the beginning of the transaction as your HIPwill have your searches and OCE's in it. the bankruptcy, final search and Lad Reg fee come at the end of the transaction.

if they want money up front make sure you can have it back if it all goes boobs up before the transaction is too far into. of course if they have done lots of work they may charge you anyway
if the HIP is out of date they may require your money to do up to date searches but still you only really need a local authority search to satisfy a lender.

i agree with the above quote, its far better in your interest to get a Solicitor who you trust and is good than just the cheapest. it may be the case that these are good and you just need to iron out a few things with them first

you should be able to look at the HIP as the buyer, this is the point of the HIP. ask your agent, they should have a hard copy otherwise they should not be marketing it

martynh99

Solicitors charges 450.00
add VAT @ 17.5.% 78.75
____________ 528.75


Disbursements:-


Local Search

Mining Search 36.78

Drainage Search 0.00

Envirosearch 49.00

Chancel Check 15.00

Land Registry Search 4.00

Land Charge Search 0.00

Registration Fee 280.00

Telegraphic Transfer Fee 40.00

Stamp Duty 2,150.00

_________

2,574.78
2,574.78
____________

TOTAL £ 3,103.53

monkeys_bunny

do you want chancel and environmental searches doing? your house must be in the higher price bracket to get stamp duty and land reg fees of 280. its the stamp duty that kills ya, and its for nothing, so annoying. thats one of the reasons i curently have 2 mortgages, cos we got our house on the deadline of the stamp duty changing again at Christmas.

martynh99

monkeys_bunny wrote: »

do you want chancel and environmental searches doing? your house must be in the higher price bracket to get stamp duty and land reg fees of 280. its the stamp duty that kills ya, and its for nothing, so annoying. thats one of the reasons i curently have 2 mortgages, cos we got our house on the deadline of the stamp duty changing again at Christmas.

Good question, haven't got a clue what they are - like a fool i just accepted whatever was on the quote as being what we needed.

Yes it is £215K.
Unfortunately whilst we are kind of first time buyers as we're in rented at the moment, we have owned property before so get stung for SD still :mad:

Edit: just done some googles.

Chancel search - A search to see if the property falls within an area that makes it liable to pay towards repairs to the local church.

Environmental Search – This is a search to check whether there are any environmental issues affecting a property, past and present land uses of the property and its surrounding areas - indicates the likelihood of contamination or pollution.

Prob yes to the environmental but no to the chancel. Emailed solicitor to drop Chancel.