Cost of conveyancing: solicitors fees remain high

While solicitors today complain of cut-throat competition in conveyancing, fees for the service remain stubbornly high - at several…

While solicitors today complain of cut-throat competition in conveyancing, fees for the service remain stubbornly high - at several thousand pounds for a simple property transaction on a modest family home.

Most solicitors now charge no more than 0.5 per cent of the purchase price, having generally charged double that percentage just a few years ago.

The profession on the whole is also more willing to accept flat-rate fees, especially if they are dealing with a large number of similar housing units being bought off the plans.

One solicitor in the south-west recently advertised "any conveyancing" for €999. However, a flat-rate fee of below €2,000 would be a rarity in most parts of the country.