Solicitors Fees

Michelle_Louise

Hi

Does £1,006 sound about right for a £130K purchase? No stamp duty as seller has agreed to pay it.

They are my mortgage advisor's referred solicitor highly recommends them etc...

Thanks

Michelle

Kayalana99

We paid £803 for ours but it depends on the area your in really. Wouldn't hurt to get a few more quotes.

jibbyboo

Yep, that sounds reasonable.

If you check the 50 tips for FTBs, there is some info on there about choosing a solicitor. You may be able to get something more reasonable.

I'm going through Eric Whitehead remotely for a really good price, and finding them very good and helpful so far.

Michelle_Louise

My mortgage advisor said they make special allowances for her clients but i said what special allowances are these as ive had cheaper quotes. Apparently cheaper isn't always best and I wouldn't get the same updates and tracking from anywhere else...unsure what to do. Other quotes ive had are either the same or around £920. Yet to get one for £800 but I need to decide fairly swiftly

dotdash79

Of course your mortgage advisor recommended them to you he gets a kick back.

I paid £800 all in for a £150K purchase, depends on the solicitor as the price. You can get it cheaper but it's best to go with someone you trust (speak to friends and family) remember it's you v a lot of people buying a house.

Vendor - Working for the Vendor
EA - working for the vendor
Vendors solicitors - working for the vendor
Mortgage adviser - working for themselves
Bank - working for themselves
You - working for yourselves
Solicitors - working for you

I turned down a cheaper mortgage offer (not by much £3 per month) as the solicitor I wanted to uses wasn't on the lenders panel.

DATMAN_2

Need to separate solicitor's fee from the disbursements.

solicitors fees should be around £400 plus VAT.

Disbursements are to pay for your searches including local, drainage, mining environmental and chancel check searches and land registry fees. These cost the same no matter which solicitors you use. Also charged a TT fee to transfer funds normally £25 plus VAT per transfer.

Different local authorities charge different rates for the local search hence why there are discrepancies. Some charge £80 others £200.

What are the solicitor's legal costs only?

Michelle_Louise

Freehold Purchase @ £130,000.00 will be as follows:
All Legal and Administration work £425.00
Plus VAT @ 20% £85.00
Acting on behalf of your lender £Waived
Plus VAT @ 20% £Waived
Arranging the transfer of monies to the Seller’s Solicitors bank £30.00
(This fee includes an element of charge made by our Bank to us in the amount of £5.00)
Plus VAT @ 20% £ 6.00
Completing the Land Transaction Form £50.00
Plus VAT @ 20% £10.00
To our professional charges arranging your searches £Waived
Plus VAT @ 20% £Waived

Total Legal Fees and VAT £ 606.00


To our Disbursements:-

Official Search fee £20.00
Land Registry fee £190.00
Searches (average) £190.00
Stamp duty- To be paid by vendors £NIL

Total £1,006.00

DATMAN_2

don't believe that they are separating their fees.

completing the stamp duty form is part of the job !

Official Search costs £4. Why are you being charged £20?

Ask for a breakdown of the searches!

Fee is high ! Ask them to fix it to £400 plus VAT or look elsewhere!

Michelle_Louise

Thanks for that info, i've used that in my response and see what they can do. Never thought it was possible to haggle on solicitors fees but always worth a try i guess!

martinsurrey

Michelle_Louise wrote: »

Thanks for that info, i've used that in my response and see what they can do. Never thought it was possible to haggle on solicitors fees but always worth a try i guess!

these are the only people involved in the biggest purchase of your life who are on your side...

you want to pay them less, they'll cut corners (not be negligent, but do the bare minimum)...

pay penuts, get monkeys as the old saying goes...

jibbyboo

I just had a good chat with my solicitor, and I have to say that it's really comforting to have someone on your side. My sale has been super stressful, and my solicitor has been very helpful throughout the process.

There was a firm with a lower quote, but because of the good reviews from EW I went with them. Very pleased I did.