Conveyancing costs | a guide to the hidden fees your property lawyer may also charge for

Occasionally property lawyers offering a low legal fee include hidden conveyancing costs in order to increase their overall legal fee.

The following are examples of hidden conveyancing costs that some, but certainly not all law firms and conveyancing companies may charge you extra for. When conducting your research it is recommendable to check whether there are additional costs for these services and factor the additional costs into your budget.

 

Professional indemnity insurance
Administration fees
File storage
Expedition fees

 

  • Professional indemnity insurance

    By law all solicitors must carry indemnity insurance of a least £2 million pounds to protect their clients against that solicitor’s negligence or fraud. Some firms try to pass the cost of this insurance on to their clients

  • Administration fees

    This is a notional charge for telephone calls, photocopying, faxes and postage. In fact it forms part of the lawyers fee for the conveyancing should be include in the total conveyancing fee quoted by the solicitor. Some law firms however do add on an administration fee to cover these costs.

  • File storage

    Solicitors are obliged to store your file for six years and some store for at least twelve (as recommended by the Law Society). Some solicitors seek to charge you for the storage of your file which may also be referred to as an archiving fee.

  • Expedition fees

    Some firms of solicitors charge extra if you ask them to complete a transaction as a matter of urgency or if you want to exchange and complete simultaneously

You’ll be pleased to hear that In-Deed do not charge extra for this service and all these hidden extras are included in all our conveyancing quotes.

 

Related Conveyancing Articles:
Conveyancing fees – What costs to check for when receiving conveyancing quotes
Conveyancing searches | A guide to the common and not so common
What is Stamp Duty Land Tax (SDLT)?
Why you should beware cheap, online conveyancing fees
Legal Ombudsman Report of Deceptive Legal Quotes