Legal fees when purchasing a property

19
Found 10th Jan
Just wondering what the correct fee solicitors should charge me when purchasing a property.

Am I correct to believe they charge by the purchase value of the property? Or is their a cost saving way I am unaware of?

Thank you
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I paid £550 for conveyancing if I recall correctly.
This was ten years ago, in London.
I do not believe it was linked to the value of the property, unlike estate agents fees at the time.


EDIT: stupid new website causing problems with editting typos.
Edited by: "Uranus" 10th Jan
You get a quotation. From several firms.

The Law Society has a scale of fees and solicitors will be very (exceedingly) happy to charge you those rates.

Expect poor service, long delays and everything to be your fault, even for the simplest of transactions.
I paid £1600 last year solicitors were pleasure deal with smooth and nothing was my fault for once.
Mine had set fees between different brackets of house price.. £495 i paid for mine. Would never recommend them to anybody! truly awful. Recommended by Halifax back and apparently had a 98% happiness rating from previous customers.
They charge whatever they like so shop around before deciding on who to use.
Could be cheaper if buyer and seller used the same solicitors.
webtrawler11 m ago

Could be cheaper if buyer and seller used the same solicitors.


usually the same solicitors wouldn’t act on behalf of both parties as it would be a conflict of interest. There are a few reasons why they would but it’s not a standard thing.
Edited by: "samtman" 10th Jan
you can choose a solicitor based outside of London or other major cities since much of the paperwork is exchanged between solicitors via DX which is a guaranteed overnight service for solicitors, or by email/phone. Recommendations from friends/family/work colleagues should be used if possible.

Drainage/environment/property searches, bank tfr fee and land registry which will be handled by your solicitor should set you back about £250
Solicitors fees should separately cost about £650

Don't pay over the odds, you'll only be likely wasting your money.
Stand by for our resident Danny La Rue. He'll be along soon and knows about property stuff.
samtman8 m ago

usually the same solicitors wouldn’t act on behalf of both parties as it w …usually the same solicitors wouldn’t act on behalf of both parties as it would be a conflict of interest. There are a few reasons why they would but it’s not a standard thing.


I actually think same firm different conveyancer is acceptable as long as both buyer and seller are aware. It could speed things up. However I wouldn't do it.
Edited by: "OllieSt" 10th Jan
davewave7 m ago

Don't pay over the odds, you'll only be likely wasting your money.


Absolutely.
OllieSt3 m ago

I actually think same firm different conveyancer is acceptable as long as …I actually think same firm different conveyancer is acceptable as long as both buyer and seller are aware. It could speed things up. However I wouldn't do it.


I totally agree, you don't know the seller so you need some separation in case you want your solicitor to apply pressure or their solicitor or seller is unhelpful.
anything between £1000-£1800 id say i moved a few months ago and cost us £1250
Payment could litterally be anything, i paid around 1000 pounds last year completed in 21 days from offer acceptance, was stressful and had to constantly ring up and ask what was happening only advice id give is try to find one in driving distance as i first tried a cheaper one half way round the country and it was a pain in getting paperwork sorted go local if u can. Good luck.
I got quotes of between £350 - £700. This didn't include disbursements (almost identical between all firms). Whoever you go with it will still be the office junior doing all the work.

I just went with one of the cheapest, who happened to be vaguely close to me. I made sure to hassle them every other day for progress reports etc. Make sure they know your 'motivated' to complete quickly.

Unfortunately mortgage providers don't allow sole practitioners to do the conveyancing.
Get recommendations and go local is my advice.
they charge whatever they like as someone has already said and the quotes can be very different from different solicitors, so shop around.

get a few quotes, then pick the cheapest one as conveyancing is pretty simple so one conveyancer is as good as another. some can respond faster than others but not enough difference to justify paying any more for.
Please don't go with the one that is 'recommended' by your bank, estate agent etc, as they are likely to be rubbish.

Ask around if possible and get local recommendations. I got a few quotes when I moved and they were all pretty similar, however, I was recommended a local one who was worth his weight in gold, when the problems started appearing. Infact, he advised me that the chain I was in was going to fail about six weeks before it collapsed, and I used that time to get another estate agent lined up. The problem with the original sale was caused by the solicitor recommended by the estate agent messing up the sale of the property at the beginning of the chain.

Therefore, my recommendation is that there is no need to pay much over the going rate, but getting a good one is well worth it.
Basically it depends on the amount of work they need to do for you. There are some solicitors that will do it for a fixed fee. £500-1000 normally!
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