Does Conveyancer charge three lots of “Telegraphic Transfer” fees?

timmyt

D7895510 wrote: »

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Each firm will operate slightly different. but they should all oblige if you ask for a print out of your account and specifically why they are charging 3 TT fees

thank you but as a experienced conveyancing solicitor, you are either talking gibberish in part so you have something to post for the sake of posting, or you are not being clear

The TT fee takes time and whether it is CHAPS or BACS, no firm will do it for free.

deposits are low? 10% of £100k is £10k - that's a lot, or are you inan area where you can get houses for £10k, then 10% would be low.

The_Palmist

timmyt wrote: »

Remember that every second a solicitor is working on your file means you should be paying them for their time. They are only spending their time because it is helping you. They are not a charity.

You are right in saying they are not a charity and it is for that reason that they charge a hefty fee.

erdd2

FTBuyerRosie wrote: »

Just to clarify: that is 3 times £39+VAT.

And that is 2 times £39+VAT too much for a solicitor that is looking after the clients best interests and the client that is not a charity donating to the solicitors pot

taxsaver

Now that the banks' Faster Payments Service (FPS) is well established then why isn't this used more as it (in my experience) generally provides instant debit and credit between most banks now?

MegS

timmyt - holding a deposit to order is not 'rare', I had two on Friday and pretty much the majority are held to order, its usually only if the completion date is over 2 weeks away and especially if its with solicitors we don't know. With our local solicitors that we deal with a lot we hold to order a lot. The deposit if going goes by cheque.

As for BACS my firm don't charge - we send all our Stamp Duty payments by BACS and its getting more common for the EA commission a/c to go by BACS also. We only charge a TT (£30 plus VAT) for mortgage redemptions, purchase monies to solicitors and net sale proceeds to clients if they request it (they also have the option of BACS for free or cheque)

LR applications always have cheques as for some reason you can do a OS2 with a LR a/c number but you can't send the registration fee by a/c.

D7895510

timmyt wrote: »

thank you but as a experienced conveyancing solicitor, you are either talking gibberish in part so you have something to post for the sake of posting, or you are not being clear

The TT fee takes time and whether it is CHAPS or BACS, no firm will do it for free.

deposits are low? 10% of £100k is £10k - that's a lot, or are you inan area where you can get houses for £10k, then 10% would be low.

You have never been offered a deposit of less than 10% on exchange then (balance tied up in related sale - just so I'm clear and not talking gibberish)!!! We deal with properties nationally and have recently sold a property for £21k or thereabouts. we certainly let the other side hold their deposit to order!!!! All firms operate differently

3x £39 plus VAT is a disgrace. I can't think of a single transaction where we have needed 3 TT fees to be charged.

The fact of the OP is yes 3 x TT fees are too much and at £39 plus VAT is some mark up!

timmyt

D7895510 wrote: »

You have never been offered a deposit of less than 10% on exchange then (balance tied up in related sale - just so I'm clear and not talking gibberish)!!! We deal with properties nationally all firms do, it's called client repeat business - you sound relatively junior, are you? and have recently sold a property for £21k or thereabouts. we certainly let the other side hold their deposit to order!!!! All firms operate differently

3x £39 plus VAT is a disgrace. I can't think of a single transaction where we have needed 3 TT fees to be charged.

The fact of the OP is yes 3 x TT fees are too much and at £39 plus VAT is some mark up!

i agree on the TT front

D7895510

timmyt wrote: »

Originally Posted by D7895510
You have never been offered a deposit of less than 10% on exchange then (balance tied up in related sale - just so I'm clear and not talking gibberish)!!! We deal with properties nationally all firms do, it's called client repeat business - you sound relatively junior, are you? This has nothing to do with the OP. and have recently sold a property for £21k or thereabouts. we certainly let the other side hold their deposit to order!!!! All firms operate differently

3x £39 plus VAT is a disgrace. I can't think of a single transaction where we have needed 3 TT fees to be charged.

The fact of the OP is yes 3 x TT fees are too much and at £39 plus VAT is some mark up!

i agree on the TT front

You asked if I was in an area where properties are c. £10k. It doesn't matter where I am based, I chose to answer your question with "we deal with properties nationally" therfore deposit levels vary greatly.

G_M

If considering a complaint against a firm, always go via the firm's inernal complaints procedure first. If this fails, there are two bodies you may feel relevant:

1) The Solicitors Regulation Authority
Although they regulate solicitors they do not handle individual complaints. In their own words:

"If you are a client of a solicitor and you are unhappy about the service provided to you, first contact your solicitor or the person in the firm who deals with complaints. If you do not receive a satisfactory response, contact the Legal Ombudsman. There is also information on their website about how to make a complaint.

2) The Legal Ombudsman

"If you have a complaint call us on 0300 555 0333.

We find it can be easier to talk through your complaint on the telephone. Please think about calling us on 0300 555 0333 to speak to one of our team. All calls are recorded and charged at a local rate. If you are worried about cost, we can call you back. But if you would prefer to email or write to us, our contact details are below. "