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Solicitors hourly rates - what's yours?
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kuepper
Posts: 1,494 Forumite
I've been shopping around and in my small town quoted between £200 and £275 plus vat. How can they justify such rates when min wage is not even a tenner? Some sort of price-fixing must be in operation to keep figures in this orbit, isn't this a national scandal?
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You are not necessarily paying just one person's wages, you are also paying for their overheads including premises and utility bills, indemnity insurance, office staff wages, travel time, storage facilities etc.
It is disingenuous to compare to work often suited to unskilled, unqualified individuals with no business overheads, compare to professionals with similar levels of qualifications and similar overheads in other industries.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
You can always buy a book for £5 and do it yourself...... after all, what's the danger??0
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You are not necessarily paying just one person's wages, you are also paying for their overheads including premises and utility bills, indemnity insurance, office staff wages, travel time, storage facilities etc.
It is disingenuous to compare to work often suited to unskilled, unqualified individuals with no business overheads, compare to professionals with similar levels of qualifications and similar overheads in other industries.
I was only highlighting the disparity between rewards in the present economic climate, solicitors are off the financial Richter scale because there is no genuine free market in operation0 -
Yes they charge a lot.... a week's wages for an hour's work. But, there's an approved list that mortgage lenders will work with - and they aren't all on the list. And it takes a (proper) solicitor 6 years of degree/finals/articles before they can even call themselves a solicitor.
It can be a highly paid job - it's private business so the partners can charge what they like - and the partners want to be exceedingly wealthy.
As has been said, you're not paying one person's wages, but the cost of running the business and profits.
Have you checked out garages? £100/hour to plug your car into a computer that tells them which overpriced piece to take off the shelf and swap out .... and they still might be wrong.0 -
I was only highlighting the disparity between rewards in the present economic climate, solicitors are off the financial Richter scale because there is no genuine free market in operation
Except that you are not comparing rewards! :wall: The solicitor's hourly rate is not their salary, that is the gross business income from which they deduct numerous costs of running a business leaving the net income from which, in turn, they draw their salary. Anyone earning minimum wage doesn't have any costs of running a business or work overheads.
Again it is disingenuous to compare to work often suited to unskilled, unqualified individuals with no business overheads, compare to professionals with similar levels of qualifications and similar overheads in other industries.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
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It's worth remembering that solictos also charge to read the letters/emails YOU send them, and for taking your phone calls. OK, it's TIME, I know - but not many people are aware of that!! So watch out!!0
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Yes the thousands and thousands of solicitors all meet in starbucks on a monday morning and fix their prices!
How can you say there is no free market? You literally can choose anyone you like.....there will be some that are cheaper and some that are crazy expensive, but no one is dictating to you which one to go with.
If it sounds like such an easy ride I suggest you get training straight away0 -
I accept that solicitors have various overheads needing to be paid out of their (high) charges.
Although many are not in the mega-earnings bracket, most are paid extremely well.
However, it is not just solicitors who earn "too much".
There are many others. For example, there are footballers (no professional qualifications)...GPs, many of whom work a four day week (I had a GP neighbour who could not believe the amazing deal they were given a few years ago)...individuals and companies who are able to arrange their tax affairs to their own financial advantage, and so on.0 -
Did you slave away for 6 years at uni or go straight to Mc Donald's?0
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