Help making sense of solicitor quotes

ptork66

I hope this kind of post is okay. I'm really confused and more than a little stressed so any help I could get would be much appreciated.

I'm a FTB and I'm trying to decide between two companies for conveyancing. I had unfortunately already instructed one, as I thought they had answered all my questions, but the client pack came with the list of extra fees (that I had asked about and was told didn't exist!), and I have a feeling that they will end up much more expensive (nearly double their quote) than the other place. I'm hoping someone can help me make sense of these quotes and which extra fees might apply so I can see if I did cancel with the one and go with the other.

I'm a FTB with a partially gifted deposit, not sure who the mortgage lender will be yet, and I don't live nearby. Both myself and my parent are foreign nationals, but I of course live in the UK and have permanent residency. I also had a name change 8 years ago, so I suspect they may need to check all those documents, too, for an additional fee.

Firm A (fixed fee, no move no fee)
Legal fees
Telegraphic transfer on purchase
Online ID fee
Lawyer checker fee
Gifted deposit free
Land registry searches
Land registry fee
Bankruptcy search
Search pack

Their info says that they include the work of dealing with the mortgage is included; I believe they are one of the firms associated with my broker so I can be sure they're on all my brokers lenders panels; they state that if the mortgage has a cashback it can/will be used towards their fees.

Firm B (forgot to ask if they're no move no fee; I suspect not)
Legal fees
Electronic payment fee
Search pack
Land registry search fee
Land charges search fee
Land registry registration

I know I'd need to watch out for the potential fees if they aren't on the lenders panel and having received their full list of fees I already know their quote was missing a gifted deposit fee. Their info doesn't state whether or not dealing with a mortgage is already included.

What other fees should I look out for that haven't been included in those quotes? There won't be Stamp Duty as the purchase price is below the threshold. I really need to get an as accurate as possible budget, and this is clearly not an easy task!

Thanks so much for all your help.

sillyhilly

Generally, if it's a smooth conveyancing process with no hidden surprises, the only additional costs you may be facing are related to gifted deposits and whether it's a leasehold or not.

There shouldn't be a fee associated with your name change documentation - this will fall under their standard AML / KYC checks and the period of time that has passed since then is quite significant. Interestingly, Firm A are charging for an Online ID check which I believe is pretty cheeky given that all law firms are required to do this as part of their regulation, although I would lean towards Firm A.

Having just gone through this process, note that you pay more for the searches than they actually are - they're basic and you can obtain them yourself online. It may be worth getting a sample / the name of their provider to see how much mark-up they are charging you.

I used an online conveyancer where all fees were fixed. Let me know if you want a PM as I can recommend them - to be honest, it looks like it may be Firm A from what you've listed.

need_an_answer

Are you buying freehold or leasehold?

With leasehold there may be some other fees that your solicitor may pay on your behalf and then bill you the amount in connection with registering you as the new leaseholder of the property with the managing agents.


Again if its leasehold and there are service charges due until the end of either the financial or calendar year these may be payable upfront,but again your solicitor will advise as the conveyancing progresses.

ptork66

@sillyhilly - Thanks, I will PM you. I know the usual advice is to get recs from friends and family, but I don't know anyone who's bought a house both in this country and anytime in the last 20 years.

@need an answer - It's freehold.

davidmcn

Even if there's no SDLT actually payable, you'll still need to submit an SDLT return (assuming you're paying more then £40k) - the solicitors will often have a (small) additional fee for preparing and submitting the return irrespective of whether there's SDLT due.

[Deleted User]

Sometimes an extra £10 per person for dealing with help to buy isa pops up in the transaction.

G_M

as you are not comparing like for like, and have not included the fees themselves, it's not easy to comment.


In terms of what they are charging for (as opposed to how much), you'll almost certainly end up paying for the same things whichever you use- so get quotes for all the elements, or get confirmation that those elements are included in the basic 'legal fees' charge (eg some firms include submitting SDLT form as standard, some charge extra)

Yalpsmol

As above, Im pretty sure our solicitor charged £25 pp for SDLT even though it was under threshold. Plus the fee for HTB ISAs claim for the bonus.