Using London and Country's Conveyancing quote..

babychan_2

So I'm at the mortgage application stage after our offer got accepted last week and the broker has quoted me as such:

They've broken down the costs into:
Legal Fee - £559
ID Check Fee (Per Name) - £20
Mortgage Legal Fee - £75
SDLT Legal Fee - £50
CHAPS Fee - £30
VAT on Legal Fees - £146.80
Search Pack - £249
Completetion Searches - £6
Land Registry Fee - £135

Total: £1270, no move, no fee.

Is this a reasonable amount?

Our broker is selling the whole 'we're fully in contact with them and they will report to us' talk, which tbh is comforting to know, if that's the case. Of course that's giving benefit of the doubt.

In the PDF quote, it says our conveyancer will be Parabis, has anyone dealt with them? I'm crazy tired right now so will have a look online tomorow.

I'm gonna be honest but I have no idea what each of those fees are for, though I'm guessing this is standard practice? I am going to call a recommended solictor and compare but I'm not sure if they cover the same things?

Apologies if my writings a mess. I will get some rest and read up more tomorrow.

In the mean time I'd really appreciate any advice or help!

Thanks!

Malmo

Going to give you the standard advice I give to everyone.

You'd be well advised to read [URL=" https://forums.moneysavingexpert.com/discussion/4767543this useful and informative MSE thread[/URL] on how to choose a conveyancing solicitor, before you do anything.

Then read this article to understand what "good" looks like for quotations and what to expect from a good quotation.

Don't just stick to one quote. Get at least 3 including a local solicitor or 2 near to you.

Shahni

Speaking personally I wouldn't use the "recommended solicitors" if you paid me. They are almost always bucket shop conveyancers where you never speak to the same person twice and have to chase them to get anything done. But I'm biased

As far as the quote goes:

babychan wrote: »

Legal Fee - £559 - Not bad, depending on the value of the property
ID Check Fee (Per Name) - £20 - Bit excessive but not completely OTT, should really be included in their fee IMO
Mortgage Legal Fee - £75 - This is an additional cost because you are getting a mortgage. Should really be included in the legal fee IMO but many don't. I find most high street firms don't charge extra for dealing with the mortgage because its expected work.
SDLT Legal Fee - £50 - As above should be included in the fee IMO. This is for completing the stamp duty land tax form to submit the SDLT.
CHAPS Fee - £30 - Normal but again should really be included in their fee IMO. This is for transferring the money to the seller's solicitor by bank transfer on completion.
VAT on Legal Fees - £146.80 - Normal
Search Pack - £249 - Little high but not completely unreasonable, check what searches they will do for this.
Completetion Searches - £6 - Normal. This is for a search on the property (called an OS1/2) just before completion and a bankruptcy search on you for the lender.
Land Registry Fee - £135 - Normal. This is for registering the property into your name on completion.

So essentially they are charging £734 + VAT and disbursements. If you are comparing quotes this is how much they are basically charging. Make sure that covers everything and there are no hidden fees in the small print.

...

Our broker is selling the whole 'we're fully in contact with them and they will report to us' talk, which tbh is comforting to know, if that's the case. Of course that's giving benefit of the doubt.

Its 2015, everyone can be "fully in contact" by sending an email or picking up the phone. I hate when they say that. Haha. What they mean is "we get a nice little referral fee for sending work their way so we'd rather you use them".

csgohan4

Bit expensive tbh, but get some quotes from others

babychan_2

Wow thanks for the help guys!

Just what I needed. I'll read through that link and yes I will find other to compare now.

Thanks Shahni for your breakdown too! Much appreciated.

ruggedtoast

You'll get a whole range of quotes low to high. You often get what you pay for and how much you pay for conveyancing may well depend on what you are paying for the property.

I used Browns the first time:

http://brownssolicitors.co.uk/brownssolicitors/conveyancingquote.aspx

I wasnt totally happy with them as they were nice enough and efficient but a bit rushed on the phone, and the nearest branch was an hours drive away so I was never going to to in there. Every no move no pay place is going to have a vested interest in you moving, so dont expect totally unvarnished advice if things start getting a bit pear shaped.

I then paid more the second time for a local place near where I worked who were useless. The conveyancer never once answered her phone and forgot to tell us we had completed.

I wish I had just stuck with Browns. They are cheap and I am very tight.