You are here: Home - News -

Moving costs fall following drop in estate agent and solicitors’ fees

  • 09/04/2002
  • 0
The overall cost of moving home has fallen from last year, a direct result of a drop in estate agent...

The overall cost of moving home has fallen from last year, a direct result of a drop in estate agent and solicitors’ fees, according to Woolwich.

The Cost of Moving survey published by the lender asked estate agents and solicitors their fee levels, levels of business and expectations for the housing market and found that the cost of upgrading from a £100,000 home to a £150,000 property costs £4,303 ‘ a fall of 4% on last year.

Andy Gray, head of mortgages at Woolwich, said: ‘We have seen a decrease in estate agent and solicitors’ fees since 1993 and it is a downward trend we hope will continue. Costs have fallen because it is a more competitive market and people are shopping around more.’

Since Woolwich completed its survey last year, solicitors’ selling fees have fallen on average by 6% with estate agent fees dropping by 10%, but the overall survey indicates a positive outlook for 2002.

Gray believes this is good news for mortgage brokers. He said: ‘A more buoyant market is better for intermediaries as it means more business.’

Despite a fall in fees, the survey found the overall cost of buying a property remains high, which it attributes to the impact of stamp duty.

However, while fees have dropped, Gray warned potential homebuyers to weigh up all the costs associated with buying a property before they buy.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Property investors plan to increase portfolios

Buy-to-let investors are planning to increase the size of their portfolio by 25% over the coming yea...