FTB - legal work?

mchu6am4

Hi,

I'm interested in buying a property valued @ £150k and have a mortgage in principle. I don't have a solicitor etc. but interested to know how much is it likely to cost me in legal fees etc. to complete the buying process?

Thanks in advance, Ash

shelly

Depends on the cost of the place you are buying.
We are using www.conveyancing-warehouse.com they are a online conveyancing firm. You can go to the site and get a no obligation quote. If you decide to go with them you register and they appoint you a solicitor from their books. i.e we are in Cambridgeshire and the solicitor they put us in touch with is in Macclesfield. They then send you out a pack with details of the appointed solicitors and you sign a form to officially appoint them. At this point they ask for £200. Until you send the form back signed they aren't officially appointed so if you change your mind then you just don't send the form back. Can't give a report on them as we have only just appointed them but we went on recommendations from others on this site.
We found them to be roughly 35% cheaper than a local solicitor would be to buy a property.

ormus

there are companies near me, that charge about 145/195 plus vat.
for most normal houses.

mchu6am4

ormus wrote:

there are companies near me, that charge about 145/195 plus vat.
for most normal houses.

I would be grateful if you pm me with some details. Thanks, Ash

Doozergirl

When you're looking for a solicitor, cheap is not necessarily best. When you have the experience of a bad solicitor, you'll happily pay tenfold to get the job donr quickly and correctly.

That said, conveyancing warehouse (link above) have had good feedback on this forum and I will be giving them a shot soon on a sale.

It's also not just the actual solicitors fees that you pay; there's generally about £500 worth of extras such as searches, Land Registry and bank transfer fees to add on top.

mr.broderick

Doozergirl wrote:

When you're looking for a solicitor, cheap is not necessarily best. When you have the experience of a bad solicitor, you'll happily pay tenfold to get the job donr quickly and correctly.

That said, conveyancing warehouse (link above) have had good feedback on this forum and I will be giving them a shot soon on a sale.

It's also not just the actual solicitors fees that you pay; there's generally about £500 worth of extras such as searches, Land Registry and bank transfer fees to add on top.

yeah reassuringly expensive heh, little bit like me..

Doozergirl

I think it was you offering to pay me, wasn't it?!

mr.broderick

everything has a price..

ruggerboy

Hi Ash

I bought as an FTB last year, and am happy to share with you the transactional cost of buying a property. In all, the conveyancing process cost me a tad over £4300 - which broke down as follows:

Based on a property price of £150,000

Stamp duty £1,500

Bank fees
Telegraphic Transfer fee £30
Mortgage Valuation fee £300
Arrangement fee £400
Approx 1 month's mortgage payment £850

Solicitor's fees
Conveyancing fee £400
Local authority search £150
Land Registry £150

Survey costs
Survey £560

TOTAL £4,340

Hope this helps!

Regards & good luck with your purchase!

Chris