Help comparing Conveyancing quotes

Loz001

Hi all,

I have 5 Conveyancing quotes. Ranging from about £1,300 to £2,000. I have summarized these on an excel sheet but cannot post the image due to being unable to link to a website as a newcomer .

I don't fully understand the quotes, and have some questions;

1) Why does only one quote mention a leasehold fee?

2a) Why do two quotes not mention the mortgage fee?
2b) Is this needed?

3a) Why is the Stamp Duty Land Tax fee not mentioned in two quotes?
3b) Is this needed?

4a) Why does one not mention the search pack?
4b) Is this because it is covered in the Local authority search, Drainage search and Environmental search?
4c) If not do I need the Local authority search, Drainage search and Environmental search?

5a) Why is the land registry search only mentioned in one quote?
5b) Is this needed?

I would like to know the answers so I can make an informed decision (and hopefully the best value for money for me).

Thanks in advance.

Loz

amnblog

If it is a flat expect to pay a leasehold fee.

You do have to pay SDLT, some add it to the quote figures some do not, either way you pay it.

Some itemise the various searches, some group them, either way you pay them.

If you have obtained these quotes on line they have probably all come from the same or similar panel of legal firms anyway. They all quote pretty close to each other.

The legal fees are the variant not the searches or the stamp duty.

AlexMac

In my experience of several purchases (& sales) over the years, the final bill always seems to come in a little over the quotes... but in your case, I bet there won't be a massive difference after eliminating the other biggies:
- the SDLT which isn't really down to the solicitor but is paid to the taxman (and which some quotes may omit only because its not 'their' fee),
- that particular local authority's search fee which varies by a few qauid from Council to Council, but which solicitors may simply estimate in quotes to save time (LA search is a must, as is the drainage/flood risk search. Some lenders also insist on an environmental search to discover local landfill sites or 'historic storage tanks' etc and I think in some cases different intermediaries do these online rather than the solicitor approaching the utilities direct, so fees may vary a bit)
- the fee from a leaseholder for responding to pre-sale enquiries which can vary from nothing (I used to do 'em for free in my capacity as treasurer in a 'shared freehold company) up to many hundreds of pounds if the freeholder or their agent are keen to make money- again, you qauote may simply estimate this, but charge you either the actual (or wickedly, the quoted guess if higher)
- Land Registry Fees; essential to put your name on the electronic equivalent of what we used to call 'deeds', the LR's electronic list which proves you own the gaff - plus what the solicitor will charge you for doing that job
- discretionary extra searches, which your solicitor might 'helpfully' initiate without even asking you ('Plan Plus' or similar for a totally pointless web search cut n paste list of local shops, schools, OFSTEDS and detail of every planning application locally in recent years in addition to the immediately relevant PlanAps which the local authority search will reveal, ..., the 'Chancel Liability' check or insurance against the infinitesimal risk that your property's on church land and you might cop a fee if the church burns down or the roof blows off... Which I always tell 'em not to do!)

I'm not being terribly helpful but I guess I'm also saying that as this is the biggest purchase of your life, with more potential for screw-up than buying a car, you should maybe not just choose on the bottom line, but on other considerations.

Look at the Home Buying forum and you'll see hundreds of posts on choice of conveyancer- I always prefer to deal with a real local office with a proven track-record, who are accessible (a human being picks up the phone, agrees to deal by email, not only snail-mail, and explains bits you don't understand).

Using a bucket shop online convancer at the other end of the country to save a couple of hundred quid seems a false economy; and whoever you choose, google 'em. Some dodgy dealers attract literally hundreds of critical reviews! Like this one-
https://forums.moneysavingexpert.com/discussion/1849083

Good luck- it may be complicated, but none of it is rocket science; and it may also be stressful, but its worth it.