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Solicitor's bill has come through - OMG!?!?!

13

Comments

  • nomoneytoday
    nomoneytoday Posts: 4,871 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The rip off !!!!!s I last used advised that the chancel fee was a tenner, which I agreed to.
    Their bill then added a £50 "finders fee" on top of the £10, hidden in the T&C small print.

    Last time they get any money from me...
  • InkZ
    InkZ Posts: 258 Forumite
    Part of the Furniture Name Dropper Combo Breaker
    I've used nationwide panel solicitor, and the chancel insurance is £15. I had made my mind up not to get it already, but when I saw it was £15 there's not really a reason not to have it.
  • GDB2222
    GDB2222 Posts: 26,326 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    EatingGlitter wrote: »
    We've signed everything and written a cheque for the deposit which is on standby to go after I've spoken to the solicitors and clarified everything.

    When are you planning on exchanging? Won't the solicitors need cleared funds in their client account for the deposit prior to exchange?
    No reliance should be placed on the above! Absolutely none, do you hear?
  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The insurers I use charge me £10 for a 25 year Chancel Policy and £15 for a perpetual one.
    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.
  • EatingGlitter
    EatingGlitter Posts: 148 Forumite
    GDB2222 wrote: »
    When are you planning on exchanging? Won't the solicitors need cleared funds in their client account for the deposit prior to exchange?
    No date as of yet.
  • GDB2222
    GDB2222 Posts: 26,326 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I'd be inclined to let them have the cheque for the deposit sooner rather than later, just to be sure the funds have cleared, but check (no pun intended) whether they will account to you for any interest earned and what sort of rate to expect. The alternative is to send an instant funds transfer (CHAPS) just before exchange, but that will cost you around £30.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • EatingGlitter
    EatingGlitter Posts: 148 Forumite
    It's all been sent so hopefully should be cleared soon.
  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I hope they accept a cheque.

    Because the banks don't guarantee clearance in the usual 4 day cycle many solicitors require longer than that to make sure a private cheque is cleared.
    whether they will account to you for any interest earned and what sort of rate to expect.

    Are you serious?

    I get 0.1% pa on client money, so, as we have to account to clients for sums in excess of £20, I would have to hold the £200K for more than 5 weeks before that kicked in!
    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.
  • GDB2222
    GDB2222 Posts: 26,326 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Richard_Webster wrote: »
    Are you serious?

    I get 0.1% pa on client money, so, as we have to account to clients for sums in excess of £20, I would have to hold the £200K for more than 5 weeks before that kicked in!

    Well, I was being serious, but in the past when I've done the sums interest rates were much higher. Don't you have some implied duty of care to get more than 0.1% on your client account? ;)
    No reliance should be placed on the above! Absolutely none, do you hear?
  • GDB2222
    GDB2222 Posts: 26,326 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Even if you got 0.5% it would bring that 5 weeks down to 1 week, although we are talking about a deposit, so I'm not sure where you got the £200k figure from?
    No reliance should be placed on the above! Absolutely none, do you hear?
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