Conveyancing - Extra £90 per loan - Normal?

thecornflake

Just received initial t&cs from our solicitor who is handling the sale of our flat. They charge an extra £90 for each additional secured loan/mortgage to 'cover their administrative costs'.

Is this normal? As we have an extra 3 secured loans on top of our mortgage it's an extra £270 which is quite a lot when we're not going to make any profit from the sale anyway after we've paid them all off.

Plus two are with the same company who would probably accept a single payment for both loans.

If it is normal can we opt for them not to handle these and pay them back ourselves out of the proceeds?

MegS

I've not heard of charging an extra admin fee for additional loans, bank fees yes but not admin. Would suggest you find a new conveyancer. You wouldn't be able to opt out of them handling them if they are secured against the property as they have to give an undertaking for the buyer's solicitors that they will discharge all mortgages/loans on the property and if you were discharging them then obviously they wouldn't be in a position to give an undertaking.

silvercar

I wonder if there initial quote is low and they add on the extras. Make sure you compare the total price.

Extra work is involved in each charge so I can understand where the solicitor is coming from.

keatergreyhound

I was charged around £20 I think just to cover the extra work of requesting final figures etc.
No you cant pay them off yourself as they hvae to have the discharge papers before they can release the deeds as these loans are secured on yuor home I presume?

ginandtonic1988

£270 sounds a bit steep, look at your draft completion statement and are you being charged a telegraphic transfer fee for the charges to be paid?? I charge clients £30 per TT but if the TT is going to the same bank then I would only charge one and I don't charge an admin fee for paying of the mortgage. I would charge my client if he had 3 charges and two with the same lender £60 telegraphic transfer fees. If your being charged £270 plus TT fees then thats too steep.

thecornflake

Their total fees are low, £419, but add on the £270 and that's close to what a local solicitor quoted me. However will I end up paying the same extras at any solicitors, in which case they are still the cheapest?

I got them via Abode, and it says on the Abode site that everything is included and there are no hidden fees which is misleading as a lot of people now have at least secured loan in addition to their mortgage.

I believe it includes transfer fees.