Conveyancer/solicitor fees

Jesmundo

Signed up to using this solicitor [Forsters] via recommendation of the builder, that they would give us £2k incentive for using Forsters. Didn’t think of it at the time until my mortgage advisor told me even taking into account the ‘incentive’, they are still the most expensive. Is he right tho? 

I’ve hidden the info not relating to the conveyancing fees and process. Note that there’s £2k to be deducted as the ‘incentive’ so sum of those numbers are to be deducted by £2k.

greatcrested

Far more worrying is the obvious connection between your seller and the conveyancer. How can your solicitor be truly independant and 'on your side' if they are always aware that future work is dependant on keeping good relations with the developer who sends them business?

But yes, their fee is 2,400 + 990 = £3,390 less £2K = £1390 which is not unreasonable (as it includes VAT).

RelievedSheff

Those fees are massively expensive. You are being royally ripped off there and that's before you take account of the fact that your solicitor is acting in the best interests of the developers rather then you!!

Mani_London

I am not sure with the leasehold properties, but i am paying around £1700 incl VAT for a freehold house. 

parkingadvice1212

Acting for lender £990?
Isn't this included in the price for every other solicitor?

davidmcn

parkingadvice1212 said:

Acting for lender £990?
Isn't this included in the price for every other solicitor?

No, it's fairly commonplace (though not the norm) for it to be an additional fee. There is, after all, more work and responsibility involved if there's a mortgage.

Thrugelmir

Have you obtained at least two alternative quotes in order to make valid comparisons? 

Jesmundo

Thanks for the responses. I didn’t shop around as I assumed the £2k conveyancing fees was enough to offset all conveyancing cost. After all, I’ve never come across a conveyancer with all fees add up to be more than 2k. That’s mistake no 1 for taking up developers words as incentive. 

2nd point, my mortgage advisor told me that acting for lender, most people charge £135 to £150. To charge £990, that’s a whole new level. 

And 3rd point, yes the solicitor acted more on behalf of the lender than for me, at least that’s what I felt. Everything I wanted to challenge and questioned, I was told that challenging them wouldn’t be of any benefit.

4. I’ve only spoken to the solicitor twice over the phone, and that’s cause I called to chase things up that she hadn’t responded after a day or 2 days. All correspondence, via email, usually around 6pm ish to 7pm. Even when money handed over etc, I asked the qs when was completion and she went quiet for days. Until my mortgage advisor called me and told me the mortgage and deposit have gone through, asked if I’ve heard from my solicitor, I said no. He then must have called her and gave her a boll*cking before she responded to me.

5. They tried to charge me more than £300 for storing of deed. I challenged it, and they said would do a gesture of goodwill to waive it off for me. That’s why it isn’t in this statement but I’m sure others are being charged.

6. This statement you see above, was the 3rd iteration. The first statement, they forgot to include a £2k deposit we have already paid upfront. I queried it, and there was no apology but rather the blame was put on developer not passing this info over. I had a correspondence from them from when we put the deposit down to confirm we have paid £2k deposit already. 

Long story short; bad experience for the premium price I have paid, I consider it expensive, I won’t be recommending them. Hopefully this thread will help others in future.

Jesmundo

greatcrested said:

Far more worrying is the obvious connection between your seller and the conveyancer. How can your solicitor be truly independant and 'on your side' if they are always aware that future work is dependant on keeping good relations with the developer who sends them business?

But yes, their fee is 2,400 + 990 = £3,390 less £2K = £1390 which is not unreasonable (as it includes VAT).

I was expecting the ‘incentives’ to cover it. Not being done by paying for literally a full conveyancer fee. Should have read the contract properly I know even though it was 45 pages long and my first time being dubbed. Will make sure I read all the T and Cs of everything going forward. 

Jesmundo

Mani_London said:

I am not sure with the leasehold properties, but i am paying around £1700 incl VAT for a freehold house. 

£1300 seems to be norm for apartments. I’ve learnt my lessons the hard way. Moral of story is don’t trust developer, all of them. 

Another crap they did was the furniture pack valued at £10k but I’d say for most of the furniture, IKEA outdo them by 1/3 of the cost.

When I was househunting or flathunting to be precise a few years back, because i know the sales person for one of the development by pontoon dock, he/she told me not to buy certain block of buildings facing the Thames barrier car park for approvals have been given to develop high rise buildings over those car park. But to others, they had to put a brave face to sell. Imagine buying one apartment when you think you’ve a view but ended up not seeing any sunshine at all.

ic

I paid £860 a couple of months ago to a local solicitor to purchase a leasehold property (inc all search fees, registration and VAT).  The £540 for the Land Registry looks excessive?