Cooperative Conveyancing

greenjellybean

Does anyone have any experience of them? I didn't know they existed until I saw them mentioned on an MSE thread. I like the Coop generally and believe them to treat customers fairly but is it better to use a local conveyancer and the one suggested by my EA?
Thank you!

greenjellybean

Well I am answering my own question but it might be useful for someone else. I have just obtained a quote from the Cooperative Conveyancing:

Solicitors fees - purchase £474.00 (inc VAT)
Stamp Duty Land Tax Form completion £60.00
Lender Administration Fee £90.00
Leasehold fee - purchase £0.00

Disbursements
Local Search, Environmental & Drainage Searches £259.00
HM Land Registry Search / Bankruptcy Search (approx) £10.00
Telegraphic Transfer Fee £42.00
Land Registration Fee £280.00
ID Verification (Per Person) £6.00

From what I have gleaned from other conveyance forum threads, charging for the Stamp Duty Land Tax Form completion is a bit of a rip off and the local searches are more expensive than another quote I have had. Not really sure what Lender Administration fee is. The other quote didnt mention that. So I was initially excited about the cheap solicitor fees but the extras make it all quite expensive.
Unless any MSE members tell me they offer a great service, I might give them a miss and go for a local firm.

cattie

I've had a quote from them for sale and purchase and it is over £300 lower than any others I've had from solicitors ( and I've had at least 10 quotes altogether).

I don't have or require a mortgage so there will be no lenders admin fee for me. I agree the SDLT form is a bit of a rip off, but other quotes have had this from anywhere from £75-£85.:eek:

What I liked about the co-op quote was that the legal fee quoted included vat, whereas solicitors are quoting me from £600 upwards for each of the sale and the purchase respectively , plus a hefty £260 vat on top of the 2 £600 charges. Co-op quote £475 for sale inc vat and £570 for purchase (leasehold) inc. vat.

One thing that angers me is I've yet to find a local or online solicitor that doesn't want to lumber me with the cost of their indemnity insurance. Advice on these forums say to shop around for those that don't charge it to clients, but they all seem to be hiding away somewhere. I see that the co-op don't charge you this fee.

Like you, I trust the co-op name so that's a big plus in their favour. However, If I don't use the co-op, I'll probably go with a solicitor I've used in the past but who has moved to a completely different area. Their quote was a couple of hundred or so higher than co-op, with the dreaded indemnity insurance charged to me, but I would elect to do my own SDLT form to save on that charge.

If I were you I wouldn't use the solicitor recommended by the ea as they are usually quite costly and they give commission to the ea for recommending you if you instruct them, and of course it's actually you who is paying this.

Oh, it's all such a headache, finding someone you feel will do a good job, but without charging through the absolute roof for it.

I'd have thought with conveyancing work being more scarce for them nowadays, they would be much more competitive with their legal fee, but no such luck.:(

greenjellybean

Thanks Cattie. I read about your house purchase - very exciting! Congratulations.

The quote from the EA recommended solicitor is actually the most reasonable of the three I have obtained. And the most straightforward - none of this stamp duty form filling prices. It does seem far more complicated than I feel it should be. Perhaps I should try and negotiate with the Coop and see if they will drop some of their costs. You get reward points which I like! :j

Good luck with your house.

neobrainless

Hi, any one tried Co-op? I'm embarking on my first buy, and figured a trusted name + membership points had potential, without the headache of searching elsewhere (and not trusting any in-house guys from an EA!)

Cheers

Better_Days

Co-op dealt with the conveyancing of my Dad's flat as part of the probate when my Dad passed away.

I have no complaints. I had a named person to contact with any queries. Emails were always responded to promptly, and if I had to leave a phone message, again my contact person always got back to me quickly. The staff were courteous, helpful, compassionate and practical. If you don't want to go to a local solicitor then the Co-op could be a way forward.

Certainly I would not advise using EA in-house conveyancing - too much of a conflict of interest for my liking.

If you put your phone number in the Co-op website someone will ring you back and answer any queries you may have.
https://www.co-operative.coop/legalservices/conveyancing/
They have a fixed fee process, so at least you know where you are, and 'no move, no fee'. They will email you with a full breakdown of all their charges so you know exactly where you are with regards to their fees and other disbursements.