solicitors fees

Radsteral

Hello, to these who are used to buying houses often, do the below charges sound average for a 295.000 house? its for a friend of mine, he has requested quotes for another 2 solicitors but 4 days and of the three only one has replied , and he is in a rush. thanks






Legal Fee 545.00
Bank Transfer Fee 35.00
Bankruptcy (per person)* 2.00
Data Storage Fee 30.00
Identity & Money Laundering Checks (per person) 5.00
Land Registry Fee* 270.00
Land Registry Search 6.00
Local Authority Search 125.00
SDLT (stamp Duty Land Tax) form 75.00
Water & Drainage Search 52.05
VAT @20% 174.61
Sub Total Inc VAT 1,319.66
Stamp Duty * 8,850.00
Total Inc VAT 10,169.66

Thrugelmir

The solicitors fee is only £545.

The remainder is disbursements and fixed costs.

So quotes may not differ significantly.

I would be more concerned if employing a good reputable solicitor than saving a few £'s.

Why the rush?

dgtazzman

Seems very reasonable to me. Our sol as charging around the same, maybe even slightly more on a house purchase of 200k and they were certainly not the most expensive quote I had, not quite the cheapest either, but not far off.

Radsteral

thank you . he s just got an offer accepted and his rented accommodation contract is ending 12 th of march,so hopes to complete before that... checked online and many people happy with them, for being swift at work and easy to get hold if you need to speak to

drdpj

Just to give you a comparison:

- (I've never seen an itemised "Data Storage" fee in my life - talk about separating out your costs ) - the £495 on this also includes the ID and money laundering checks.

It all seems in the same ballpark though...

Legal Costs:
(including:
SDLT – stamp duty form £495
Acting for the Lender
Registration)
VAT £90

disbursements:
stamp duty (3%)
local land charges fee £121
HM Land Registry fee £270
Water & Drainage fee (Utility bill)

Telegraphic transfer fee
(bank charges) £25
Official searches £16
Coal mining search (if required – £30)
Environmental search £58
(if required)
Notice of Assignment, if any
(ground rent collector, if any)

Total:
£1,084 + stamp duty

Kynthia

I'm paying £800 to act for me and £300 to act for the lender, plus all the disbursements for a property just over £300k. Certainly not the cheap option but a local and reputable firm in greater London who I've used before and will use to do our wills too.

dgtazzman

Jst reread our projected completion statement, forgot we are paying £120 for HTB paperwork, wihout that ours comes in just short of £1200. This is slso a local firm that have been easy to deal with and quite fast.