Money Transfer Fees

Chef1980uk

Hi all hope you can help. My mum has just been on the phone to me asking about a money transfer fee on top of other payments and if that's right?

conveyance person:
£60 deposit
£489 legal services
£8 if deeds are required.
£45 transfer of monies

Also is the above just to sell and will other payments be required for when it comes to buying a new property?

Finally is a Conveyance person another name for a Solicitor?

I hadn't a clue as i've never brought a home before and dad used to look after all of this kind of stuff so would appreciate your help

Conrad

1) What is this for - a house purchase or remortgage?

2) If so a lender will need this 'conveyancer' to be on thier official panel (be careful as many are not)

3) £60 deposit, never heard of this one. Do you mean they need £60 up front to get things rolling?

4) Who reccomended this firm?

Chef1980uk

It was the same firm my dad used back in 1990.

Its to sell and use that money to pay of that mortgage and then move to a new home with a new mortgage.

Deposit was to get things rolling.

The lender will be Barclays.

Chef1980uk

Any ideas?

Jimbo1976

Yes, the money transfer fee is about right (sadly) it will be to send the sale proceeds on (presumably to the your mother's mortgage company Barclays).

You will have to pay other fees when you buy (searches etc)

Conveyancing is the legal process linked to housebuying and selling. Most solicitors offer a conveyancing process but some companies are set up to specifically do conveyancing and are not solicitors as such.

Chef1980uk

Brilliant, explains it perfectly. Thanks a lot