Conveyance Costs (New Build)

Futuristic

Hello,

Below was an estimated figure I got from a broker, does this look low, normal, high for a new build property ca. £325,000. This is of course estimated and probably on the basis we use one of their recommended solicitors, we'll probably go local but just getting an idea of the total costs on top of house price.

Legal Fee £699.00
ID Check Fee ( Per Name ) £20.00
Mortgage Legal Fee £75.00
SDLT Legal Fee £50.00
CHAPS Fee £30.00
Help to Buy Legal Fee £200.00
VAT on Legal Fees £214.80
Search Pack £249.00
Completion Searches £6.00
Land Registry Fee £270.00

Having a quick search for example I could do the "SDLT Legal Fee" myself and save money if my chosen solicitor doesn't include it.

If locally isn't required I'm open to recommendations from new build buyers here!

kinger101

Local is possibly a little bit more than what you've been quoted there, but probably worth paying extra for. Many of the firms recommended by brokers/agents are done some for kickbacks, and have very poor reputations.

It is worth finding out if this is conveyancing warehouse or just a firm the broker believes has a good reputation though. One of my local EAs recommends three local solicitors and gets kickbacks from none of them. They just see it's not worth recommending bad conveyancers if it means they end up doing all the chasing.

If you have a mortgage, the solicitor will need to submit your SDLT form anyway, so there is no scope for saving there.

kirtsypoos

Personally we purchased a newbuild for £220,000 and paid just under £1000 total for a local solicitor who was brilliant. Our H2B legal fee was £50.00.

I second the above though, using a local solicitor was the best thing we did.

Futuristic

kirtsypoos wrote: »

Personally we purchased a newbuild for £220,000 and paid just under £1000 total for a local solicitor who was brilliant. Our H2B legal fee was £50.00.

I second the above though, using a local solicitor was the best thing we did.

Yeah, I thought the £1800 they quoted seems a bit OTT. I've been using those comparison sites they are all between the £1000-1400 mark. Found a local one even around the £1000 mark from the comparison site.

ap1985

Futuristic wrote: »

Hello,

Below was an estimated figure I got from a broker, does this look low, normal, high for a new build property ca. £325,000. This is of course estimated and probably on the basis we use one of their recommended solicitors, we'll probably go local but just getting an idea of the total costs on top of house price.

Legal Fee £699.00
ID Check Fee ( Per Name ) £20.00
Mortgage Legal Fee £75.00
SDLT Legal Fee £50.00
CHAPS Fee £30.00
Help to Buy Legal Fee £200.00
VAT on Legal Fees £214.80
Search Pack £249.00
Completion Searches £6.00
Land Registry Fee £270.00

Having a quick search for example I could do the "SDLT Legal Fee" myself and save money if my chosen solicitor doesn't include it.

If locally isn't required I'm open to recommendations from new build buyers here!

This looks about right to me as our quote was similar for a new build property.

kirtsypoos

Just found out the below for comparison for you:

Legal costs 425.00
VAT @ 20% 85.00
Case management fee (inc VAT) 15.00
Local Search (estimated) 54.00
Mining Search inc VAT 49.69
Environmental Search inc VAT 58.80
Land Registry Search! 3.00
Bankruptcy Search (£2 per name) 4.00
Land Registry Fee * 270.00
Costs to arrange telegraphic transfer 35.00
VAT @ 20% 7.00
Total purchase costs 1,006.49

Futuristic

Thanks guys, the original quote in my OP was from L&C broker. I've got a few quotes from few locals and they are around £1100 with no VAT (I assume small solicitor firm but have been around this area for 10+ years) and then 2-3 of the bigger ones few minutes away are quoting ~£1400-1500 inc VAT.

Think I'll just pick one of the bigger local firms and hope for the best.