Solicitor's fees for a £140k flat - £1366 a good deal?

sjb1983

Hi all, looking to buy a flat locally and have had an offer accepted.

The estate agents have told me that they "strongly recommend" I use a local solicitors due to the management packs and potential delays this could cause.

They have quoted me the following for their recommended solicitors - anyone have anything to compare it to?

"The breakdown of the property is as follows
Purchase price £140,000
Legal fees £475
Transfer fee £35.00
Admin Fee £50.00
Anti Money laundering check £10.00
Leasehold £95.00
VAT £133.00
Total £798.00
External charges Land Registry £95.00
Searches £168.00
Bankrupcy search £5.00
Stamp Duty £300.00

Total £1,366.00"

I should add, I found quotes for less than £1,000 online but am concerned they might cowboys. Anyone done online conveyancing for a leasehold flat?

Thanks
Steve

Redacted

Setting aside the local vs online pro con list for a minute:
Are the online quotes you found like for like? You don't say what they cover and more importantly what they don't.

Also, is the £300 what the solicitor will charge in their fees for managing the stamp duty aspect of your sale, or your stamp duty liability? If the latter, unless the online quotes are also inclusive of your stamp duty tax, I would remove that cost when comparing quotes.

Back to the pro con list, many of the threads on here will depict stories of solicitor frustration. So, how annoyed would you get if your solicitor never answered the phone or replied to your emails in their own sweet time and it was a 4 hour trip to visit them? If it would send you up the wall, what's the price you would put on being able to pop by to get an update, etc?

getmore4less

if you remove all the fixed fees you are left with

Legal fees £475
Admin Fee £50.00
Leasehold £95.00
+VAT

Which IMO is not that bad.

I would check how much it covers the checking out the lease, service charges, sinking funds etc.

eg if there is parking is is part of the lease, allocated free for all etc.

At what point do the extras start...

sjb1983

Thanks for that, Redacted!

My initial feeling is to go with it for that very reason. HAve a real person down the road to go to rather than a faceless online outfit sounds better.

I need to get back to you on the other as I don't think they are like for like.

Much appreciated!
Steve

hazyjo

When you say their recommended solicitors, are they affiliated, or is it just a local company? If the former, I'd avoid. If the latter, that's usually okay. I wouldn't use an online one as they can be more like call centres. Would want a local solicitor near to my home.


The solicitor also needs to be on the approved list of the mortgage provider. There are ways round it (I used one once which wasn't approved and they used another for the financials. It did mean a nightmare dash after work the day before exchange to SE London from East London to post something through their letterbox. Never again - thankfully it wasn't a million miles away!).


Jx

sjb1983

Thanks :money: @getmore4less!

Some useful questions to ask - will get on the case!

Steve

sjb1983

@hazyjoe thanks! I will check with them.

I believe they are simply recommended as a trusted local company rather than affiliated. I will ask, though and update.

Much appreciated!

ThePants999

getmore4less wrote: »

if you remove all the fixed fees you are left with

Legal fees £475
Admin Fee £50.00
Leasehold £95.00
+VAT

Which IMO is not that bad.

I would check how much it covers the checking out the lease, service charges, sinking funds etc.

eg if there is parking is is part of the lease, allocated free for all etc.

At what point do the extras start...

I'd include the "anti money laundering fee" - most quotes I've seen don't charge separately for that...

KILL_BILL

They (EA)may get referal fees or similar for putting business to the solicitors

GDB2222

I have used the same solicitor for many years. He works from home, on his own, so his overheads are lowish and the customer gets the man himself, not an assistant. He's up the road from me, too, which is helpful.

He charges £625 + VAT for a leasehold flat of that value. None of this nonsense of charging separately for money laundering or admin fees.

So, I'd suggest that you look around for someone locally who operates in the same way.

scriv

I used a local solicitor recommended by the Estate Agent and the EA did get a referral fee for recommending - but they were very good and I paid about the same as GDB2222.