We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Preparation of the final lease
trimmtrab_2
Posts: 30 Forumite
Hi there
Im buying a shared ownership property and had a letter through saying 'on completion you will be liable to pay £80 + VAT in respect of the seller's (Housing Assoc) solicitors preparation of the final lease'.
Does this sound right? As far as I was aware the Housing Assoc should be financially responsible for the preparation of the lease not me. Should I say anything about this or is this par for the course? This is my 1st property but I wasn't aware and certainly not prepared to pay this amount.
Thanks
TT
Im buying a shared ownership property and had a letter through saying 'on completion you will be liable to pay £80 + VAT in respect of the seller's (Housing Assoc) solicitors preparation of the final lease'.
Does this sound right? As far as I was aware the Housing Assoc should be financially responsible for the preparation of the lease not me. Should I say anything about this or is this par for the course? This is my 1st property but I wasn't aware and certainly not prepared to pay this amount.
Thanks
TT
0
Comments
-
Sorry but what world are you living in? You could easily pay £500 for some Housing Association solicitor's fees so this is dirt cheap.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
What world am I living in? One where I'm a 1st time buyer, unsure of these things and posting on a forum for help and advice and not wanting to have the !!!! taken out of me.
Advise you use better manners when replying to people next time, good day0 -
Nice response trimmtrab. You unfortunately get a lot of them comments on here i'm afraid.
When i bought shared ownership, i didnt have to pay any legal fees. However, i have to pay the Housing Assocs legal fees for the full value of the property when i sell so make sure you consider this for when you come to sell too.
I hope this helps.0 -
Something to remember is that Housing Associations do not have a magical pot of money. All of their cash by one way or another comes from general taxation, or from fees/rent.
So another way of looking at it is :- should I pay these fees, or should every other taxpayer in the country pay them for me?
Sounds cheap though. Although the cost was £0 in Milton Keynes for a transfer of my shared ownership property.Unless it is damaged or discontinued - ignore any discount of over 25%0 -
What world am I living in? One where I'm a 1st time buyer, unsure of these things and posting on a forum for help and advice and not wanting to have the !!!! taken out of me.
Advise you use better manners when replying to people next time, good day
Sorry for the tone of the post - it wasn't very kind.
I think my point was that £80 really isn't a lot of money when you look at the whole business of buying or selling a property.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards