House buying - Taylor rose Solocitor fee - is it too high ?

Lets_fly

I got the following quote from Taylor rose MW solicitor . Can you please let me know if this is too high compared to others 

Conveyancing Estimate

Purchase Price: £560,000.00

 

Other Costs and Fees

SDLT Processing Fee £75.00

Chancel Repair Liability Check £15.00

Anti-Fraud Pack £40.00

Financial Transaction Fee - out (each) £45.00

Financial Transaction Fee - in (each) £25.00

Anti-Fraud Verification of Client ID £140.00

Pre-Completion Searches £35.00

File Storage £45.00

Gifted Deposit £125.00

Acting for Lender £195.00

Search Pack £399.00

Title Information Document £35.00

Total £1,174.00

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Legal Fees -  Legal Fees £995.00

Total £995.00

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Third Party Costs

SlothPlatform (per client) £39.00

Total £39.00

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Government Fees

Land Registry Fee £295.00

Stamp Duty Land Tax - Government Tax £6,750.00

VAT £441.60

Grand Total £9,694.60

DE_612183

just get multiple quotes from a number of solicitors - some of the stuffon there is not their charges - just what you need to pay.The £1000 for their time seems fair.

SDLT_Geek

I note "gifted deposit" on the list.  In my experience, if the purchase is at undervalue, some complicated issues can arise.  It is worth going to a firm which understands the issues.

The amount of SDLT suggests you will qualify for first time buyers' relief.  Is that right?  You have checked that?

silvercar

SDLT_Geek said:

I note "gifted deposit" on the list.  In my experience, if the purchase is at undervalue, some complicated issues can arise.  It is worth going to a firm which understands the issues.

The amount of SDLT suggests you will qualify for first time buyers' relief.  Is that right?  You have checked that?

Gifted deposit could just be that the deposit is coming from the Bank of Mum & Dad. 

Lets_fly

SDLT_Geek said:

I note "gifted deposit" on the list.  In my experience, if the purchase is at undervalue, some complicated issues can arise.  It is worth going to a firm which understands the issues.

The amount of SDLT suggests you will qualify for first time buyers' relief.  Is that right?  You have checked that?

Yes I am first time buyer. What is first time buyers relief ? It would be helpful

SDLT_Geek

Lets_fly said:

SDLT_Geek said:

I note "gifted deposit" on the list.  In my experience, if the purchase is at undervalue, some complicated issues can arise.  It is worth going to a firm which understands the issues.

The amount of SDLT suggests you will qualify for first time buyers' relief.  Is that right?  You have checked that?

Yes I am first time buyer. What is first time buyers relief ? It would be helpful

If first time buyers' relief is available, it means the SDLT on a price of £560,000 would be the £6,750 quoted.  Without the relief, the "usual" SDLT would be £15,500.  

First time buyers' relief can be lost without having bought a property, for example it can be lost by receiving a share of a property by a gift, or through inheritance (even if the property is sold straight after the share is acquired).

propertyrental

Areb you buying aTR property?

If so, why ON EARTH would you use/trust 'their' solicitor.......?

Lets_fly

propertyrental said:

Areb you buying aTR property?

If so, why ON EARTH would you use/trust 'their' solicitor.......?

I am  not buying TR propety. Just using them for a solicitor

Gavin83

So you're paying nearly £3k for their services? Seems extortionate to me. We paid around £1800 for everything excluding the stamp duty and that was one of the higher quotes we received. This was a few years ago. 

Ultimately you need to get quotes from a few other conveyancers and see how it stacks up.