Conveyancing solicitors - am I being ripped off?

DG55

So I've got to the stage where we're ready to complete next week but have just got the final bill, which is wildly more expensive than the original quote. The estate agents think I should be paying £1100 maximum for conveyancing inclusive of all fees etc. The original quote was about £700 in total.

It is share of freehold.

Here is a breakdown of my fees:

Conveyancing Fee £220.50
Admin Fee £40.00
TT Fee £39.00
Acting for Lender £165.68
SDLT Return £85.00
Land registry Pre-completion Searches (x2 @ £4) £8.00
Bankruptcy searches (x2 @ £24.50) £49.00
Checking Buildings Insurance £35.00
Leasehold Transaction Fee £174.00
Arrange execution of Stock Transfer Form £25.00
Obtaining /Preparing deed of covenant £100.00
Retention £75.00
Send deeds post completion £15.00
Full search pack £295.00

Total (Incl. Vat@ 20%) £1591.41

PLUS £280 for land registry fee.

Am I being hugely ripped off, can anyone compare with their experiences?

Many thanks.

Burridge60

I take it you shopped around and got the lowest quote?

DG55

Not really, this wasn't the cheapest. I expected add-ons to be made, but not perhaps to this extent.

I only ended up going with these people because they looked slightly reputable, had some ok reviews, and was fed up looking around - other people were already much more expensive.

Burridge60

I would normally say £750 plus disbursements and between £450 and £500 and you are doing leasehold so about £200 extra it's about right.

They have itemised it apart from their coffee and biscuits!

Burridge60

Stock Transfer, Deed of Consent and SDLT form completion are extras. Sounds like you had a less than normal purchase.

You are making a declaration to HMRC re SDLT on the form and as such you are responsible for what it contains even though the lawyer filled it out.

DG55

Thanks for the info. Not exactly sure what all that means though? Why would they have added these as extras?

G_M

Look. I'm guessing you got a quote for £220 + disbursements etc.

And that looked good value.

And in the terms and conditions were all those 'etc' extras.

The answer is , yes, you're being ripped off but there's almost certainly nothing you can do about it because all those extras will be listed in the T&Cs which you agreed to.

Admin fee? What's that?
TT £39? - the bank probobly charges £25
SDLT fee? Should be included in the solicitor's fee - it's part of the job
Checking building insurance? Should be included in the solicitor's fee - it's part of the job. Esp as they are charging for acting for lender, which is why they are checking this.
Deed of covenant? Is for......
Redemption? What the hell....
Send deeds post completion? Just getting silly now

You've been had. But you signed a contract with the solicitor before they startd work so ......did you read it. I mean ALL of it?

Burridge60

Looks like you have bought a share in a freehold management company of which you have bought a leasehold interest.

That is not a straightforward purchase.

googler

OP, could you confirm what you're buying?

timmyt

DG55 wrote: »

So I've got to the stage where we're ready to complete next week but have just got the final bill, which is wildly more expensive than the original quote. The estate agents think I should be paying £1100 maximum for conveyancing inclusive of all fees etc. The original quote was about £700 in total.

It is share of freehold.

Here is a breakdown of my fees:

Conveyancing Fee £220.50 hard not to say it serves you right for being so cheap and disrespectful of your own property deal as to go with such a silly low headline amount
Admin Fee £40.00
TT Fee £39.00
Acting for Lender £165.68 separated out charge to fool you into thinking their fee is low, but this is their fee too! pure profit
SDLT Return £85.00 again pure profit - goodness again they must have seen you coming
Land registry Pre-completion Searches (x2 @ £4) £8.00
Bankruptcy searches (x2 @ £24.50) £49.00 what! they are £2 each at the Land Registry, no where else is permitted
Checking Buildings Insurance £35.00 that's a new one on me...wow the conveyancers at this legal outfit may be thicker than 3 ply toilet paper but goodness they know how to con people
Leasehold Transaction Fee £174.00 total profit
oh my goodness, I am now looking for your contribution to your conveyancers holiday!
Arrange execution of Stock Transfer F £25.00 again pure profit
Obtaining /Preparing deed of covenant £100.00 again pure profit
Retention £75.00
Send deeds post completion £15.00 again pure profit
Full search pack £295.00

Total (Incl. Vat@ 20%) £1591.41

PLUS £280 for land registry fee.

Am I being hugely ripped off, can anyone compare with their experiences?

Many thanks.

you hve been had is an understatement. you were clearly sport for the office.

your case is THE worst example of being ripped off I have ever seen as a conveyancing solicitor. I will need to quote you for the rest of my career too, sorry, but ouch!
solution - name this outfit, and the terriblel estate agent who allowed you to go to this outfit.

and report them to the local Press for the area, Trading standards and publicise it by doing a blog on The Law Society Gazette - http://www.lawgazette.co.uk/blogs

You must warn people not to use this outfit.....and before anyone says it....they won't have been a solicitor...FACT....My voice alone on this website is clearly not getting through that unless you go with a solicitor practice, Lexcel accredited and avoid national estate agents....ouch!!!

unfair contract terms act....and certianly brining the profession into disrepute...IF....IF....IF a solicitor (but you won't have got one) where you could report the solicitor firm for professional misconduct......

DG55

Buying a flat in a block of apartments, share of freehold, £250k.