Conveyancing Help with Fees

maximise

keen to get your take on the following solicitor conveyancing fees, I think they've been great so far, just want to double-check the fees sound ok, and it may help others so that they are aware of the costs involved in purchasing a home.


N.B. I'm using the estate agents referred solicitors for conveyancing. I've already paid the estate agent £350 inc VAT. "for searches for the solicitor".

I've now received a completion statement from the solicitors - do these sound reasonable to you?

____________________________________________

Expenditure

_(Solicitor name)_ Our Fees £1,199.00

Arranging a Bank Transfer Fee £45.00

Digital Archive Fee £50.00

Money Laundering (ID Check) Fee £50.00

Completing SDLT Return Fee £100.00

Acting for Lender Fee £249.00

Completing within 5 Working Days of Exchange £125.00

Copy Title Fee £40.00

Gifted Deposit £100.00

Lifetime ISA Scheme £50.00

Total VAT on Fees £401.60

Land Charges Search Fee £20.00

Consumer Portal £18.00

Chancel Repair Liability Insurance Premium £15.79

Total inc. VAT

£2,463.39
____________________________________________


I'm not usually one to quibble but the only things I may query are:

1. money laundering check fee - should I as the buyer have to pay for this?
2. completing within 5 working days of exchange service - although I do want an efficient completion, is this worth querying for the sake of £125?

user1977

maximise said:

I'm not usually one to quibble but the only things I may query are:

1. money laundering check fee - should I as the buyer have to pay for this?
2. completing within 5 working days of exchange service - although I do want an efficient completion, is this worth querying for the sake of £125?

The money laundering checks are to check you, so nobody else is going to pay it. But as with several other items there, many/most other solicitors would bundle that into their main fee given it's a normal and essential part of the job.

Not sure that it really makes any difference to the work how close together exchange and completion are.

Usual advice here is to avoid EA-recommended firms as their loyalty will be to the EA (who are the "enemy" as far as you are concerned as a buyer!) rather than you as a client.

tacpot12

If you have already instructed the solictors (i.e. they have done work for you), you can't really argue about their charges. The time to do this is before you engage them. 

You can decide not to take any optional services, so rather than query the "Completion within 5 days service" charge, why not ask them what completion time would be without this charge. 

The Money Laundering Check fee is a fee that the buyer pays as your solicitor has to check your indentity, the source of funds for the purchase, and also whether there are any markers against your name. 

I would ask what the consumer portal fee is, and consider asking them to remove this charge if you haven't used their consumer portal or don't need to use it. 

propertyrental

Awhole raft of those items would be included in the conveyancer's basic fee by any decent conveyancer.

Doubtless you were quoted a nice attractive low quote (£1199) and you did not read the terms and conditions before signing, so did not realise all those 'extras' would be added later.

I' not going to highlight the 'extras' that should not be there as it's too late. You agreed (again unwisely) to use the estate agents sconveyancer so have a binding contract with them. You have no option but to pay up and learn the lesson.

Though as tacpot12 says, there may be some wriggle room on 'optional' items, though the 5 day gap seems to be the only optional I think....