Conveyancer/ Solicitor costs - Please help!

nursenat83

Hi, this is my first time posting on here but I'm desperate for some advice. We have been quoted an extortionate sum for our conveyancing/solicitors costs and I just need to know if it is realistic or if we can get it MUCH cheaper elsewhere.

To break it down as it is broken down in the paperwork I have been given:
Selling fees:
Legal fees 515+VAT
TTF & ID Verification 65+VAT
Case software fee 25+VAT
Office copy entries 8
Mortgage fee 120+VAT
TOTAL=£878

Buying fees:
Legal fees 615+VAT
TTF & ID Ver 65+VAT
SDLT return 75+VAT
Case software fee 25+VAT
Land registry fee 270
Search fee 300
Mortgage fee 150+VAT
TOTAL=£1686

Buying and selling total = 2564

This seems a lot more than we were expecting but maybe we're a little naive. Please could somebody let me know.
I'd be very grateful as we have to make a decision quickly.

Thank you.
Nat

monty-doggy

I am buying only, my conveyancing fees are £395 plus VAT plus searches etc, total is just under £700 plus stamp duty on top.

Hope that helps!

welshwizard1927

Seems quite steep to me - I'm received quotes in the region of £700-£800 for buying only.

Are those fees on the basis of no sale no fee?

kingstreet

nursenat83 wrote: »

Hi, this is my first time posting on here but I'm desperate for some advice. We have been quoted an extortionate sum for our conveyancing/solicitors costs and I just need to know if it is realistic or if we can get it MUCH cheaper elsewhere.

To break it down as it is broken down in the paperwork I have been given:
Selling fees:
Legal fees 515+VAT should be more like £400 + VAT
TTF & ID Verification 65+VAT should be included in headline fee
Case software fee 25+VAT should be included in headline fee
Office copy entries 8
Mortgage fee 120+VAT should be included in headline fee
TOTAL=£878 should be more like £488

Buying fees:
Legal fees 615+VAT should be around £550 + VAT
TTF & ID Ver 65+VAT should be included in headline fee
SDLT return 75+VAT should be included in headline fee
Case software fee 25+VAT should be included in headline fee
Land registry fee 270
Search fee 300
Mortgage fee 150+VAT should be included in headline fee
TOTAL=£1686 should be more like £1230

Buying and selling total = 2564 should be more like £1718

This seems a lot more than we were expecting but maybe we're a little naive. Please could somebody let me know.
I'd be very grateful as we have to make a decision quickly.

Thank you.
Nat

You should be obtaining at least three separate quotes. The headline fees shown should include the SDLT return and acting for mortgage lender. The better solicitors do it all for one price without all these add-ons. Shop around.

nursenat83

They are based on a no sale no legal fees basis yes. They are a conveyancing company provided by our Estate agents and we were told they may be a little over what others will charge but it will probably be worth it because of the no sale no fee aspect. If it's that much more expensive, I'm not so sure!

Thanks for the help so far, everyone. It is much appreciated.
Nat

kingstreet

Is it Countrywide by any chance?

kingstreet

In my experience, many solicitor will not charge you if you are unable to proceed with a particular purchase, as long as you retain them for the next one you find. If the searches have been spent, then that's money you've lost with any solicitor.

TBH this sound like another EA gimmick to get you to sign up to an expensive poor quality conveyancing service which probably pays them a few hundred quid in introductory fees.

Avoid.

If you are considering using their EA's mortgage advice service, avoid that too. Many of the large nationals have only a small lender panel made up of lenders which gives survey work to their survey arm. The whole process is designed to lift as much cash out of your pocket as possible under the guise of "convenience."

Riggster

nursenat83 wrote: »

They are based on a no sale no legal fees basis yes. They are a conveyancing company provided by our Estate agents and we were told they may be a little over what others will charge but it will probably be worth it because of the no sale no fee aspect. If it's that much more expensive, I'm not so sure!

Thanks for the help so far, everyone. It is much appreciated.
Nat

Please don't use anyone recommended by the Estate Agent. Someone somewhere will be benefitting by a commission ultimately funded by you.

Contact 3-4 local conveyancing solicitors and see which ones come back with a good quote and who seem efficient.

hcb42

buying only at the mo, am sure my fees are only about 600 plus vat and SDLT etc

_Andy_

"We have been quoted an extortionate sum" - why do you feel a price higher than what you expected is 'extortion'?

welshwizard1927

_Andy_ wrote: »

"We have been quoted an extortionate sum" - why do you feel a price higher than what you expected is 'extortion'?

Not quite sure of the need for you to be critical of the OP's phrasing here? The point is that the fees are a lot higher than they should be.

Going back to the point of this message - others are right - avoid estate agent panel solicitors. They'll be the most expensive of the lot.