Solicitor & Estate Agent Fees

Angel1403

I am about to sell / purchase a house.

I have been quoted about £3600 selling fees and £4000 purchasing fees £7000+ in total (includes £2350 stamp duty & 1% selling commision)

Can this be added to the mortgage?

Cheers

Angel1403

dunstonh

You can borrow more money, subject to loan to valuation limits and affordability. What you are asking is to basically, is reduce your deposit.

Angel1403

Thanks for the advice.

Cheers

Angel1403

Compensationitis

Those fees look a bit heavy to me, have you shopped around?

herbiesjp

What does the 1% equal to in £s

Bossyboots

Can you break that down please. I am mystified as to the £4000 purchasing fees. I know I haven't moved for a long time but surely it is only the sellers who pay estate agents fees.

p3gg

If you're ahppy to use a solicitor who won't necessarily be in a town near you (i.e. to do all communications via phone, e-mail and the post), then try https://www.abodeconveyancing.co.uk

Abode hooks you up with a solicitor via its bulk referral service, and as such is able to offer substantially discounted fees. We've gone through them twice, once for a purchase and once for a sale, and are happy to recommend.

As for the 1% agent's fee for selling, I suppose it depends on your area but this seems pretty good in my opinion. If you haven't already done so, do try playing two or three agents off against each other a bit. Also if one of them has actually offered 1% straight up rather than your having beat them down already, it's worth being cheeky and maybe suggesting 0.75% but with a minimum £ fee.

Compensationitis

Better still, go for a 'capped' fee, it doesn't cost a penny more to sell a £100k house than it does for a £1,000,000 house, does it?

Same goes for solicitors, a conveyance is a conveyance, a land registry alteration costs the same, the only problem is our dear old Stamp Duty.