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What is price sweet spot for a FTB lawyer? Is proximity vital?

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Comments

  • SmlSave
    SmlSave Posts: 4,911 Forumite
    Part of the Furniture Combo Breaker
    What about work colleagues, could they recommend anyone?

    Personally I'd email 5-10 firms asking for estimates. Narrow down to the mid range ones and call them, you're likely to find at least one you like the sound of :)

    Go local as...

    You can physically get your evidence of identification sorted - no posting your passport etc

    It's easy to actually meet them face to face when you sign and to raise queries then

    They know the area and if there are any issues they'd look out particularly for.

    Fees, firms that break down their fee more than they need to seem to be more likely to add extra fees nearer the end to me. For example:

    Firm A: Fees £600

    Firm B: Fees £450. Sdlt admin £75. Lender admin £100 etc. Water/plan/enviro searches £100 (these are optional searches normally)

    Charging for the local search, post, bank transfer, actual Sdlt, vat, land registry, bankruptcy searches are all standard.
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
  • joshsw25
    joshsw25 Posts: 14 Forumite
    Evening All,

    I work for a solicitors and we specialise in conveyancing so I feel well placed to answer this.

    A report was published last week that identified the 3 main ways people find their conveyancer. Friends recommendations were found to be the method which left people most satisfied. A recco from an Estate Agent was next, and then online firms came last. Almost half of those who used an online firm rated the conveyancer at 0 out of 10 or said they wouldn't recommend it. This report was the Home Buyer Trends of 2015 if you want to read more.

    Prices will vary because we all put our quotes together differently. Get a few quotes - if the disbursements vary something strange is going on because these are fixed by 3rd parties (eg local authority searches).

    I'd say £500 was about average for a legal fee.

    The one that always catches people is the SDLT1 form, mortagee legal fees, and Leasehold supplement. If any of these apply and aren't being shown in the quote, they're usually hiding them from you.

    Location isn't a massive plus-point but can be really useful if your conveyancer is tough to get hold of!
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