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  • FIRST POST
    • smulx
    • By smulx 9th Jan 18, 9:59 PM
    • 1,377Posts
    • 651Thanks
    smulx
    Are these costs from London & Country realistic or more/less than usual?
    • #1
    • 9th Jan 18, 9:59 PM
    Are these costs from London & Country realistic or more/less than usual? 9th Jan 18 at 9:59 PM
    I've just received a DIP from London & Country and they also included a conveyancing quotation with this information. I'm just wondering if these look like reasonable costs as I don't want to go with them if I'm going to end up paying over the odds. Also, what costs might I incur in addition to the things listed here (other than deposit). I'll have to add the survey cost I think. Is there anything else to consider?

    Breakdown of your anticipated payment
    Your Purchase

    Legal Fee 510.00
    ID Check Fee ( Per Name ) 20.00
    Mortgage Legal Fee 75.00
    SDLT Legal Fee 50.00
    CHAPS Fee 30.00
    VAT on Legal Fees 137.00
    Search Pack 249.00
    Completion Searches 20.00
    Land Registry Fee 95.00
    Stamp Duty Land Tax 500.00
    TOTAL 1686.00
Page 1
    • YHM
    • By YHM 9th Jan 18, 10:38 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #2
    • 9th Jan 18, 10:38 PM
    • #2
    • 9th Jan 18, 10:38 PM
    Seems reasonable to me
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • csgohan4
    • By csgohan4 10th Jan 18, 8:07 AM
    • 4,542 Posts
    • 2,838 Thanks
    csgohan4
    • #3
    • 10th Jan 18, 8:07 AM
    • #3
    • 10th Jan 18, 8:07 AM
    have tried other quotes elsewhere to compare??? L+C are probably getting commission for referring you to their preferred solicitors
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • ACG
    • By ACG 10th Jan 18, 8:23 AM
    • 17,040 Posts
    • 8,927 Thanks
    ACG
    • #4
    • 10th Jan 18, 8:23 AM
    • #4
    • 10th Jan 18, 8:23 AM
    I have 2 places I use, one is a price comparison site which is around 150 less than yours - which I do receive a kick back from.

    The other is a local solicitor who is about 100 more than yours - which I do not get a kick back from.

    Crazy how the cheapest pays me a kick back isnt it. I give people both options depending on whether they want local or cheap. But as YHM says, it does not seem too bad.
    Last edited by ACG; 10-01-2018 at 8:27 AM.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Mortgage_Adviser
    • By Mortgage_Adviser 10th Jan 18, 8:31 AM
    • 134 Posts
    • 47 Thanks
    Mortgage_Adviser
    • #5
    • 10th Jan 18, 8:31 AM
    • #5
    • 10th Jan 18, 8:31 AM
    I would personally focus not on the plud minus 100 but the general solicitors feedback. See if any friend or family would recommend any good firm.
    A few years ago (I wasn;t mortgage broker myself then) I did a mortgage through L&C. I have gone wioth their recommended solicitors Premier Propeety Lawyers and those solicitors have screwed up a great deal so I had to take it all the way to financiual ombudsman who have awarded me wirh compensation for their failing.
    So if the price difference is insignificant I would look at the company feedback.
    • amnblog
    • By amnblog 10th Jan 18, 8:38 AM
    • 10,560 Posts
    • 4,174 Thanks
    amnblog
    • #6
    • 10th Jan 18, 8:38 AM
    • #6
    • 10th Jan 18, 8:38 AM
    If you are looking for feedback on solicitors you will find dirt on all of them.

    It is generally only the dissatisfied customers that post their feedback online.

    There is much to go wrong and no-one to blame but the solicitor.

    That is why your mortgage broker is actually a sensible place to get a referral to a solicitor. We have not a single experience with a legal firm, but numerous experiences, allowing us to assess their true worth. Our policy at my firm is to drop those Solicitors that do not perform, to leave us with a small panel who get the service right +95% of the time.

    Our poster will find a lower price but perhaps not better value.

    As to the Broker receiving a 'kickback' (you really need a better term ACG!), the solicitor is simply diverting their marketing cost to the introductory source and is standard practice.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • ACG
    • By ACG 10th Jan 18, 8:46 AM
    • 17,040 Posts
    • 8,927 Thanks
    ACG
    • #7
    • 10th Jan 18, 8:46 AM
    • #7
    • 10th Jan 18, 8:46 AM
    As to the Broker receiving a 'kickback' (you really need a better term ACG!), the solicitor is simply diverting their marketing cost to the introductory source and is standard practice.
    Originally posted by amnblog
    I dont get a kickback/commission, I receive a portion of their marketing budget? I actually feel dirty saying that on here, let alone in front of a customer. The "marketing budget" is not actually showing on any paperwork but it is not a secret.

    My argument is that if they use my solicitor, I will liaise with them. If they use their own solicitors, I wont.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • amnblog
    • By amnblog 10th Jan 18, 9:02 AM
    • 10,560 Posts
    • 4,174 Thanks
    amnblog
    • #8
    • 10th Jan 18, 9:02 AM
    • #8
    • 10th Jan 18, 9:02 AM
    You don't need an argument, its commerce.

    The solicitor would rather pay you for someone who is sensible and ready to go than take enquiries from 100 dreamers on compare the meerkat.

    I don't hear the Lenders justifying why they put a mark up on a valuation.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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