Dunk

iTrader: (1)

Go with the solicitor you feel is most proactive, you're better off paying extra & the transcation going through, than paying less & being pished about. You get what you pay for !!!

Edited to add:
I've used the same solictor a few times now, certainly not the cheapest, why did I go back ?
You get the opinion that yours is the only case they are dealing with, all the facts are to hand with no "I'll call you right back" or "I'll need to find the file" excuses.
The process is painful enough without compounding it with cheapo cut price "help". Cough up & get someone who'll help & not hinder you.

D

[Edited by Dunk - 10/9/2003 12:31:50 PM]

RichB

Just remortgaging the house, question is, the solicitors fees I am using seem a little high, any comments about any of these?

(I know I could have gone to a mortgage company who pay these but there are good reasons why I didn't...)

Land registry office copy entry £8
Local authority search fee £115
Environmental search £39
Land registry registration fee £150
Land registry and bankruptcy search £6
Telegraphic transfer £29.38

Now I knocked them down on their fees because a friend works for them but I am now wondering if these fees have been bumped up to cover the loss [img]images/smilies/mad.gif[/img]

Anyone in the game? I thought most of these fees should be fairly similar.

Rich

RichB

Hmm, seems the land registration fee is £150 here but £50 with someone else.

...and the sneeker muvvers quoted for a purchase not a remortgage..

grrr.

Mufasa

I was told to budget for about £300 in conveyancing charges when I bought in SW London a couple of years ago, I ended up paying £260ish.

Doesn't too far out.....

chris singleton

The list you have provided is not solicitors fees but disbursements which will be the same no matter who you instruct (although TT fee will vary slightly from say £15 - 35). The disbursements shown are perfecly normal.

The HMLR registration fee will depend on the amount being borrowed but will be a minimum of £40.00 and a maximum of £200.00.

You shouldn't have to do an environmental search on a re-mortgage (unless it is a term of the mortgage due to being in a dodgy area), only a local search.

The T.T. is the same as what I charge.

as to the other persons quote £250.00 to £300.00 seems reasonably cheap for a London solicitor, I'd normally charge about £350.00 plus VAT and disbursements on a re-mortgage.

In general, re-mortgages are a pain because you still have to do exactly the same amount of work as on a purchase but you get paid less.

Lots of lenders do in house stuff but be warned, most are completely useless and will take an age to get sorted. You'll also hardly ever get to speak to anyone who knows what they are doing, only some "oik" with a computer screen. That said, if you're in no desperate rush to get it completed, it's a feasible option.

Let me know if you need any more info.

Cheers

Chris

JamieMacdonald

I am currently purchasing a flat and this is the breakdown of my fees:

Professional fees (basically what the solicitor actually gets): £350
Professional fees on mortgage (?): £100
Postage, phone calls (other incidentals): £29
Fee for electronic transfer of funds: £25
VAT: £88.20
Search Fees (estimate): £170
Land Registry: £100
Stamp duty: Don't even go there! [img]images/smilies/mad.gif[/img]

It's all a feckin rip off as far as I'm concerned! When phoning around I found that the only variable fees were the professional fees - the disembursments were the same everywhere.

J

cryptwalk

Profit costs: £300 (I get a 10% discount)
Vat Thereon: £52,50
Local search fees (local council) £110
Water authority: £35.25
Envirosearch: £39.00
Coal: £15.00
Land charges per name: £1.00
HM land registry: Search fees: £4.00 Registration: £60.00
Stamp duty: I'm exempt.
Bank charges £23.50

Thats my fees, should move in soon.

4X4BOB

I buy cheap houses regular and solicitor always charges me the same:

H.M. Land registry Fees £40 (zero vat)
Search Fee £6 (zero vat)
Solicitors charges £200 + vat = £235

Total £281

Last house (bought July) he forgot to invoice me and I had to ask for it (in September!) And he looks after my deeds for no fee.

Bob

RichB

Thanks guys, very helpful.

chris singleton

Agree with Dunk and as posted in other conveyancing thread you pay peanuts.............

The quotes mentioned above seem very cheap (well, compared to what I charge ). The only variable will obviously be the solicitors actual charges, the disbursements will be the same no matter who you instruct, registration fees, stamp duty, local search fees are all set by the government, council, etc. so wont vary from firm to firm.

JM - £100.00 for acting on behalf of mortgagee seems reasonable. There's an awful lot of extra work to be done when a mortgage is involved, the lenders dont pay their own legal fees and make it a requirement of the offer that any legal fees are met by the borrower.

Cheers

Chris

JamieMacdonald

Hi Chris,

I wasn't actually questioning the cost of the fee - I just didn't know WTF it was!

Thanks for explaining.

J