We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Declaration Of Trust - how much did you pay?
Options
TeamFG
Posts: 3 Newbie
Hi,
First time post! Just wanted to ask those who have bought a house via a tenancy in common how much you paid for a declaration of trust to sit alongside it?
I've been quoted £550+VAT and it just seems like a lot. This is on top of normal conveyancing fees. Couldn't find any recent posts on the topic though, so this may well be the market rate these days!
This is in central London I should say.
Many thanks!!
First time post! Just wanted to ask those who have bought a house via a tenancy in common how much you paid for a declaration of trust to sit alongside it?
I've been quoted £550+VAT and it just seems like a lot. This is on top of normal conveyancing fees. Couldn't find any recent posts on the topic though, so this may well be the market rate these days!
This is in central London I should say.
Many thanks!!
0
Comments
-
When I did this to transfer ownership 95/5 of two properties between myself and husband I think it was about £400. This was 2 years ago, I can't remember if that included VAT - I'm from Oop north.0
-
We're not doing it but we're quoted £140 by our solicitor.. Your quote seems pretty ridiculous! Unless mine was stupidly low..0
-
Thanks both!! Sounds like quite a range. Will get a few more quotes locally and see if that's just the going London rate.0
-
unless you cover all angles they can be bordering useless.
not just how the financial side is calculated but exit conditions.
many on here come back when they find out their DOT did not cover some basic stuff like
can't pay won't pay.
buying out or selling when splitting.
conditions if one moves out(can they sub to a lodger).
and then they did not understand the impact of the "get your deposit money back" which is quite common but can have serious flaws.0 -
We were quoted £200 and then £600-1000.
The higher quotes are due to the level of detail. Basically if there is a higher chance of there being a conflict in the future (e.g., two friends buying a house rather than a couple) it makes sense to build more clauses into the statement to protect against disputes.
If you just want something saying how the money is to be divvied up, then the lower quotes are the ones to go for.0 -
Many thanks, we are after something quite detailed so I guess the quote isn't too far off then.0
-
Work out the detail beforehand. Thereby reducing the solicitors time.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards