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Mystery payments on Final Settlement (Shared Ownership)
wibbler
Posts: 177 Forumite
I've received the Financial Settlement from our solicitors which shows the final settlement due from us on completion. We've paid our deposit, but there are two things that stick out for me. I have asked the solicitors, but I wanted to pass it by you good people as well! It's my first house, so I'm sure these things are perfectly normal,, but I thought I'd make sure!
I've scanned the vital parts of it in here:
http://www.wibbler.com/solicitors.jpg
1 (referenced on scanned picture)
This is a £6000 payment to solicitors "further up the chain". They're not our solicitors, and they're not our sellers' solicitors. Why are we paying for them?
2 (referenced on scanned picture)
Apportionments are advance payments to cover first month's rent and service charge (as we're doing Shared Ownership, we rent 40% of the house). Is this normal practice?
Thanks for any help you can give!
I've scanned the vital parts of it in here:
http://www.wibbler.com/solicitors.jpg
1 (referenced on scanned picture)
This is a £6000 payment to solicitors "further up the chain". They're not our solicitors, and they're not our sellers' solicitors. Why are we paying for them?
2 (referenced on scanned picture)
Apportionments are advance payments to cover first month's rent and service charge (as we're doing Shared Ownership, we rent 40% of the house). Is this normal practice?
Thanks for any help you can give!
0
Comments
-
number 1 is the payment of your deposit ie the £6,000 you paid to your solicitor going out. Don't know why they are not your seller's solicitors, could they be the housing association (shared ownership?) solicitors? or they could be your seller's sellers solcitors. I remember when we exchanged the whole chain made a payment to the people at the top to ease the transfers.
For number 2, it is normal to pay rent in advance, so this could be it. though £750 rent on 40% sounds high!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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