Solicitor fees

wildt

What would be the average price a solicitor would charge for dealing with the process of us buying a house for £153,450? Our broker has recommended one who he says he always uses and claims he is the cheapest, the price is £2,100. Would that be a good price? Any help appreciated as we are FTB's so haven't really got a clue..

LadyinBlack_2

Hi. Seems a lot to me. We paid about £500 on a £299k house in London last August (selling only).
I rang several solicitors (internet and Yellow Pages and Estate Agent). I couldn't believe how much they varied. Usually the person who answers the phone will give you a quote there and then.
I found the cheapest, took a bit off and then went back to the one I liked the sound of and asked them to match it which they did. It's definitely worth ringing around.
Don't forget to check about VAT.
Remember to ask to speak to the solicitor you'll be dealing with - you need to be comfortable with them and feel that they're competent.
Good luck.

wildt

Thanks for the reply it seems a lot to me as well, and every one I've spoken to. All I can think of is that it includes the stamp duty as well? I will need to call back up and ask him:o

KiKi

Hi Wildt

Thought you might find this useful. This is what I spent when I purchased my flat last year:

Fees - 750
Survey (structural) - 540
Local search - 155
Land Registry Search - 6
Landlord's registration - 16
Land registry - 150
Bank Transfer - 30
Leasehold transfer - 80
Stamp Duty - 1% of purchase price

Plus, of course, deposit and moving furniture etc costs.

If that 2,100 you've been quoted is fees alone - steer well clear! My solicitor wasn't the cheapest I found, but she had a great reputation, and she charged 750 (inc VAT) for a flat, at 185K.

Plus, a word of caution if you are a FTB. Make sure you get your conveyancer to give you a BREAKDOWN of what he's charging you so you have this information up front. Also, make sure you ask whether or not that includes VAT.

HTH.
KiKi

cattie

I've just sold & purchased & my solicitor's legal fee was £600+vat for both sale & purchase, plus of course the necessary stamp duty, disbursements,searches etc.

It does pay to shop around with solicitors as the costs can vary quite a lot. If you can get a recommendation from a friend or collegue it would be ideal.

chinatown_2

That seems an awful lot! We were told to expect to pay around £800 to £1000, just got a breakdown of costs (hubbys filed it away so I cant remember off top of head what each thing is) and its costing £681 including vat. Out of that we had to pay £250 straight away to cover his search costs but that comes off the final bill.
hth

Doozergirl

The company I am using is costing me £888 including searches and all disbursements but there is no stamp duty to pay on the property at all. I normally pay around £1100 excluding stamp duty.

Conveyancing Warehouse are the cheapest I have come across. Lots claim to be cheap but start adding all sorts of fees which makes them competitive but not cheap. I haven't used them yet, but I'm going to give them a shot.

Just ask for a breakdown and post it back here

wildt

Just called him and that price includes stamp duty as well. Yay!:p Thanks for the help and breakdown of costs, that will come in very useful.