Solicitor wants proof we can pay them the fees

class2ldn

We've spoke to the company who are taking the payments and again explained to them and they are arranging for someone to call back to sort out taking payment. As it goes we are in no rush and from what we've been told neither are the sellers. We are renting at the mo and the house is probate.
Adrianc I appreciate you seem to know it all but if you can't add anything that will assist me in my information then go and annoy someone else

lazer

I didn't pay my solicitors a penny until completion, none of the 4 solictors i got quotes from were asking for upfront fees for the searches

class2ldn

Obviously all do it differently. We were advised that the fees wouldn't all be payable at once but done in stages which is why we've not been worrying about having the funds all in one account to pay them. I take home 3500-4k a month so paying them isn't an issue just wondered why they wanted proof, not a poxy lecture about how we can't afford our house because we don't want to throw money away lol

lazer

kinger101 wrote: »

The short answer is you should have paid the upfront fees and then ask them to postpone searches until you received the mortgage offer. If you're buying a house, you should already have ALL the money you need for deposit and conveyancing costs already. There should be no need to "spread the cost".

I don't acually agree with this - you should have a plan to have all the money by the date of completion.

When i made the offer on a house in August, i did have the money for the deposit, but not for the fees, however as i was saving a minimum of £1k a month at this stage, i knew it wouldn't be a problem.

In the end it took until January to complete and i had saved enough to increase my deposit from 10% to 15%.

I did not have any spare funds on moving into the house, everything went on the deposit and fees.

What I did have was surplus money each month to buy things for the house, and to start building up savings again.
I also had a contingency plan in case something major went wrong and i needed money, i was willing to sell my car if i had too.

As a result of doing this i had no central heating for about 2 months, as oil was not top of my list of priorities, but is survived and am glad I did it like this instead of waiting to i had enough money in the bank for the deposit, fees, furniture and contingencies etc.

AdrianC

class2ldn wrote: »

Obviously all do it differently. We were advised that the fees wouldn't all be payable at once but done in stages which is why we've not been worrying about having the funds all in one account to pay them. I take home 3500-4k a month so paying them isn't an issue

Oh, the difference less than 24hrs makes...

class2ldn wrote: »

As it goes we are a bit short as paid out for some other bits and because we were told we didn't have to pay it all in one anyway.

class2ldn

Adrian as lazer has said above as long as the money is there by completion then whats the problem.
Like I said we are a bit short but only by a few hundred pounds. We fo have this money in other accounts but we are paying the money from one joint account which we add to each month so are trying to keep it all in one place to make it easier to manage. If they asked for proof of the funds today then no we wouldn't be able to do it without transferring money in from other accounts. The money is there it's just all over the place.
Lazer great post and finally someone with some common sense

class2ldn

Adrian how is that different the first post states we were told we didn't have to pay it all in one and so does the second one you've quoted so what's your point?
Just because we said we were short. Maybe before jumping to conclusions about how we can't afford to pay etc you should ask for a bit more information?
Or maybe you should just keep your nose out and assist with the original question.

Thrugelmir

class2ldn wrote: »

Adrian as lazer has said above as long as the money is there by completion then whats the problem.

If exchange is made and completion fails. Then there's huge financial and emotional repercussions for everybody concerned. As unfortunately as in any walk of life there are people that think that they are somehow different. Common sense really then applies that busy professional people don't expend and waste their valuable time. When a simple check at the outset is all that's required. Some business is simply not worth the bother to conduct.

kinger101

lazer wrote: »

I don't acually agree with this - you should have a plan to have all the money by the date of completion.

That's a rather foolhardy approach in my opinion. What if something unexpected comes up during the conveyancing process? If I'd taken this approach, it would have really put the spanner in the works as something happened during my conveyancing process which meant a monthly expenditure increase for 2-3 months. Also, stuff like the need for additional suverys (engineering, electrical) etc can arise. What if your car needs a £500 repair?

mattyprice4004

class2ldn wrote: »

Adrian how is that different the first post states we were told we didn't have to pay it all in one and so does the second one you've quoted so what's your point?
Just because we said we were short. Maybe before jumping to conclusions about how we can't afford to pay etc you should ask for a bit more information?
Or maybe you should just keep your nose out and assist with the original question.

It's down to you as the poster to provide the information, not for people here to dig around for it.

Your attitude is awful for someone that's taking advantage of free help.