Solicitor Costs

aj9648

Afternoon all

I am a first time buyer and going through the process of buying my first house. Been reading everything.

Could anyone tell me typical solicitor costs - been quoted a varied range. The estate agent also recommend theirs - if I go with this will the process be a bit quicker or is that just a 'fad' to get me to sign up to them?

If you have any recommendations (if thats allowed) then that would be appreciated too.

Thanks

GMS

Ring around a few firms and see what they say. Ask for an all inclusive quote, not just legal fees.

Estate agents sols will most likely involve a payment to the agents which may be why they are recommending them.

Also be aware that many lenders have a panel of acceptable firms so may be better to see where the mortgage is likely to be prior to making a selection.

aj9648

What does 'all inclusive' entail?

Yorkie1

I imagine it means that there will be no added extras.

Avoid the solicitors tied to the EAs; get personal recommendations from friends / family / colleagues.

Good advice above about checking that any proposed solicitor is on the panel of solicitors accepted by your mortgage company.

Get itemised quotes in writing. Often the cheaper ones have lots of hidden extras in the small print e.g. photocopying, completion within 2 weeks of exchange etc.

GMS

Make sure the quote isn't for legal fees only. Additional costs to be added to this.

Land Registry fees, search fees, bankruptcy searches, bank transfer fees, stamp duty etc etc

Some will not be applicable but the solicitors will quote what is needed.

NeoVR2k6

Have a look on HERE to get an idea of costs.

It usually costs more if the home is leasehold rather than freehold too so bear that in mind.

rach83

Hi

My house sale completed on the 14th December. Purchase price £148k (freehold 3 bed house) in the south west. My legal bill including VAT was £1,350. With stamp duty being a further £1,480.

HTH

julieb1987

It varies. Where I live in Macclesfield my cheapest was £1040. I went for one recommended by friends and they were £840 (based on a property costing £125,000 so no SDLT) just because they were based in Leigh. We complete on Friday and they have been pretty good to deal with. (Edit) This price was inclusive of everything.

Avoid the EA recommended ones, you want them to represent you and have interest in you only. The EA works for the vendor, not you, so there could be conflict of interests.

ijrwe

My invoice was £1,109.63 in the end, for a 90k purchase with no SDLT.

ijrwe

julieb1987 wrote: »

It varies. Where I live in Macclesfield my cheapest was £1040. I went for one recommended by friends and they were £840 (based on a property costing £125,000 so no SDLT) just because they were based in Leigh. We complete on Friday and they have been pretty good to deal with. (Edit) This price was inclusive of everything.

Avoid the EA recommended ones, you want them to represent you and have interest in you only. The EA works for the vendor, not you, so there could be conflict of interests.

We have the same completion date :money:

cpdc1030

I've bought two properties in the past three and a half years, and used the same out of town solicitors for both. On my last purchase in July 2011 their fees were just under £900 on a 275k property. Lots of stamp duty to pay mind you!

I was very satisfied with their service, but being out of town inevitably the slower responses slowed down the process a bit. However this didn't concern me, as both properties has no onward chain and I wasn't in a hurry. They were very friendly (lovely Welsh ladies) and always made time for me.

I probably wouldn't use them for a more complex transaction. But for my needs they saved me quite a bit of money both times over local solicitors.