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Purchase and Sale solicitors fees - fair?

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Hello, I’m currently looking to appoint a Solicitor for conveyancing work on a Sale and purchase.  The sale price is 225k and purchase 325k.  The properties are free hold and there is a mortgage involved.

The first quote I have received is £2400 inc Vat.  Is that a good benchmark as it seems excessive to me.

Thanks
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Comments

  • Tiglet2
    Tiglet2 Posts: 2,659 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    What does that figure include?

  • g0009348
    g0009348 Posts: 109 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Hello, it’s for the above
  • skm1981
    skm1981 Posts: 189 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    edited 10 October 2020 at 1:00PM
    When I was looking, I was getting fees around this mark, but managed to get one down to about £2,000 by just asking them if they could drop the price a bit and they did.  
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    have you got at least 2 other quotes to compare with? Don't base it one just one quote
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • greatcrested
    greatcrested Posts: 5,925 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I dislike conveyancers who charge extra for SDLT submission - it should be part of the basic fee.
    Archiving fee? Why?
    No idea what track a matter is but if it's some sort of online monitioring system this should also just be part of their basic fee.
    The basic fee of around £500ish  each is reasonable.
    All the 'additional' fees are outsie their control and willbe the same wherever you go.

  • g0009348
    g0009348 Posts: 109 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thanks. So I should assume the additional charges that will make it easier to compare quotes.  I’ll check the fees and other charges in the sale and purchase section 
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    g0009348 said:

    The first quote I have received is £2400 inc Vat.  Is that a good benchmark as it seems excessive to me.


    What do you consider excess about the quote? 
  • g0009348
    g0009348 Posts: 109 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I think it was the mortgages fees which weren’t discussed when I was talking to the solicitors, only when the quote was emailed.  I’ll see how the other quotes come through
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 10 October 2020 at 2:11PM
    g0009348 said:
    I think it was the mortgages fees which weren’t discussed when I was talking to the solicitors, only when the quote was emailed.
    Yes, although there's unarguably extra work and responsibility in acting for the lender in a purchase, I would expect that to be viewed as "standard" (and if you're lucky get a discount for a cash purchase). And £150 just for redeeming the mortgage in a sale is taking the pee. And the archiving / tracking charges are just their overheads, it's like adding a surcharge for their office coffee jar.

    But however they want to split it, as long as you are comparing the bottom line fee, that's all that really matters.
  • GDB2222
    GDB2222 Posts: 26,132 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Their fee is actually £1632 + VAT. The rest consists of disbursements, such as search fees.
    I checked what the charges would be from the solicitor that has helped me quite a few times over the last 20-30 years. His fee would be £1200 + VAT. He does not charge for 'arranging a bank transfer', but he does pass on any bank CHAPS fees (typically £30). He'd also pass on the same disbursements as the other quote.  HTH

    No reliance should be placed on the above! Absolutely none, do you hear?
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