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Solicitors Costs When Buying


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So I just bit the bullet and had an offer accepted...now looking at getting a lawyer, I seem to be getting quoted around £2500 all in (solicitors fixed fee + vat + searches + bits n bobs + land registry fee)...is this normal? Surely it can't be that difficult to draw up a contract, especially a new-ish property? Property cost is best part of a million quid (London, innit).

Between that, the surveyer and the stamp duty, no wonder there's so few houses for sale, the cost of moving is insane!

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So I just bit the bullet and had an offer accepted...now looking at getting a lawyer, I seem to be getting quoted around £2500 all in (solicitors fixed fee + vat + searches + bits n bobs + land registry fee)...is this normal? Surely it can't be that difficult to draw up a contract, especially a new-ish property? Property cost is best part of a million quid (London, innit).

Between that, the surveyer and the stamp duty, no wonder there's so few houses for sale, the cost of moving is insane!

Get another quote from somewhere else. Solicitors fees + searches etc should come to around £500 + registry fee of £500 for that sort of property.

http://www.home.co.uk/guides/buying/one_off_costs.htm

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Is it leasehold or freehold. Leasehold always carries extra cost premium. Then there is your 1% stamp duty If this figure includes that fee then it is not that extortionate. Check what searches are included as some cheAper quotes may not include exactly like for like

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We paid £650 for solicitors fees last month. It was our second attempt, first house fell through. But they were pretty good and only charged us for the searches they did on the first house, but not for any work on contracts. Does the £2000 quote not include stamp duty?

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I'm paying £650 including VAT, for a solicitor in London - not one of those internet "0845" number call centre ones. That £650 is for his fees - and then there are the searches, etc etc which are unavoidable, and which comes up to another £400-£500. I'm buying a leasehold 2-bedroom flat in London btw. Often, the solicitor fee increases with the transaction value.

Make sure to ask if the solicitor is going on holiday within the next month or two - this can seriously hold up the sales process. And also disclose as much as you know about the property upfront - if there are any issues/problems/etc that will require more work, you want to find out now the cost rather than get a revised bill halfway through from the solicitor. Try to get a fixed quote - although as usual, there even with fixed quotes, there are caveats by the solicitor that it can rise if there is more work than usual.

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My solicitor's fees are £595, but there are extra costs too.

Here's the breakdown I've been quoted:

Searches 250

Solicitors 595

Indemnity 50

CD ROM 15

Acting for Lender 75

Bank charges 33

Land tax admin 75

VAT @20% 168.6

Land reg fee 280

Land reg search 4

Bankruptcy search 4

Total: £1550

This is not including stamp duty or the survey cost.

Edited by Van
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Get another quote from somewhere else. Solicitors fees + searches etc should come to around £500

You have got to be kidding?!

I'd be seriously worried about the competence of a solicitor who would be prepared to act on the purchase of £1m for £250 (searches will likely total £250). If something is cheap there is generally a reason why.

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Many thanks all. I got a couple more quotes, one higher and one lower, so looks like it'll be <£2000 all-in including the outrageous land registry fee of almost 500 quid.

I can see a couple of posters here aren't keen readers...no, a £2500 quote on a nearly £1mm place doesn't cover the £25k+ stamp duty...this country's tax-the-"rich" policy means that for my <1000 sq foot property I'll be paying 10 times the tax that someone in another part of the country would pay (I reckon most cities would be under £250k for a flat my size, so under £2500 stamp duty at 1%.)

Feckin' London. But I still love the place.

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You have got to be kidding?!

I'd be seriously worried about the competence of a solicitor who would be prepared to act on the purchase of £1m for £250 (searches will likely total £250). If something is cheap there is generally a reason why.

I don't see why searches on a 1 mill property differ from those on one for say 200k, but agreed that estimate might be a bit low, say £500-£800 then. I think on our last purchase we paid around £700 total before VAT and were happy with the service, but then the solicitor wasn't based in London so if you're used to London prices perhaps that explains your astonishment. £2000 seems way over the odds to me frankly for what is not a particularly onerous task.

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In the past 4 months we have used http://www.fwdlaw.com/ for two separate sales, they have been great and around GBP 400 for each property all included (depends on individual property details, but we were getting other quotes in excess of 800)

Absolutely brilliant price and I believe their purchase fees are very competitive too.

We checked they were registered with the Law Society and then went ahead and had absolutely no problems.

If you contact them through http://www.compareandconvey.co.uk/ (do the quote thing and they'll appear) then they include a unique online checklist which you can access where your sale is at at anytime.

Totally recommend them!

Edited by Helenish
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  • 434 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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