Remortgage conveyancing cost

Voodooshaman2200

Hi all. I’m remortgaging for the first time. Changing lenders and paying a lump to reduce the mortgage to £300,000. L&C (broker) recommended a conveyancer Premium Property Lawyers who are quoting ~£300. However, I’ve left it a little late (mortgage deal ends 2nd July) and im worried one of these cheap firms will take ages?
I’ve contacted the solicitor that dealt with my house purchase 2 years ago (I was happy with their service) but they are quoting £1400! Is this normal? 

How does the conveyancing take in your experience?

ACG

The conveyorbelt services only have a solicitor to sign everything off at the end and leave it to unqualified people to do the bulk of the work. They rely on pile it high, sell it cheap. 

We use a company who does something similar to PPL and charge £249-300 (assuming freehold property). They are ok 99% of the time, but we have an account manager who I describe as being like my mum - she will shout at you until you do what your being told to do haha. 

The level of service can vary massively, we have used 6-7 over the years and now use the same 2 companies as the others were not so good. 

The other thing you need to consider is IF the cheap firm take say 2-3 weeks longer and you have to pay the higher interest rate for a month - how much will that be? If the SVR would be less than a grand higher, it is still worth taking the risk with the cheaper firm? 

subjecttocontract

I've used a number of Conveyancing firms over the last few years and they all seem the same......overworked, overloaded and they take ages to get anything done. Most of them do offer a premium service, I've never used it but I would next time. It's a little more expensive but you get priority treatment and a dedicated contact etc, etc. You will never tie any of them down on time as their job involves dealing with numerous third parties of which they have no control.
The only guarantee with conveyancing is that it will likely be stressful, irritating, lengthy and frustrating.....oh, and it will very likely take longer than you want it to. Good luck

ACG

I did one that I instructed on the 26th Feb, it completed on the 14th March - 16 days. 
I have also had one that has been going on for 5 months, but the bulk of that is due to the client ghosting everyone. 

Both with the same conveyancer. 

I do agree though, none of them will guarantee to have it done in a certain timeframe as there is so much out of their control.

subjecttocontract

There is a big difference in the length of time the process takes between freehold & leasehold. Freehold will almost always be quicker.

ACG

As far as i aware you cant get leasehold done for £300 so I worked on the assumption this would be freehold. 
But I could be wrong. 

penners324

Have you checked what rates your current lender has available as a product transfer?

Would be an easy process and no need for conveyancing 

snowqueen555

I'm in the South West looking to buy a new build flat, the all the quotes are in the £2500 range, with the new build aspect adding £500. 

I'd say £1400 is cheap, there isn't anything that cheap where I am.

Jos45640

I'm just surprised the MSE guide here https://www.moneysavingexpert.com/mortgages/remortgage-fees/ says conveyancer fees will be in the region of £350. My local quotes are all £1000 or more.

ACG

Jos45640 said:

I'm just surprised the MSE guide here https://www.moneysavingexpert.com/mortgages/remortgage-fees/ says conveyancer fees will be in the region of £350. My local quotes are all £1000 or more.

Local business will be more. 
The firms at £250-500 will be call centre places. They are good when everything is straight forward, but if there is a problem its normally someone unqualified/inexperienced dealing with it. 

housebuyer143

This is why I only got for products with free legals or I preferably just product switch. Saving a little is great, but depends on the hassle as to whether it's worth it.