LISAs vs HTB ISAs - Conveyancing fees 17 May 2019 at 2:43PM edited 30 November -1 at 1:00AM in House Buying, Renting & Selling 7 replies 509 views

locken

Hi all,

My girlfriend and I are looking to buy our first home together in the coming months, we both have Lifetime ISAs set up.

I've come across a discrepancy while looking for quotes from conveyancers for our first home - I filled out a generic market comparison form and filled out a field that said we both have Help to Buy ISAs (Lifetime ISAs weren't an option on the site) and the cheapest quote was ~£1200 (£100 fee for each ISA).

I then went to the solicitor's own website and filled in the same details but specified that we'll be using Lifetime ISAs - the quote then came out at ~£1500. The breakdown of the fees showed £250 processing for each LISA.

Does anyone know if LISAs are indeed more expensive for solicitors to process, or should I just contact them to ask what gives?

Many thanks!

Emanresu321

Solicitors are allowed to charge £60 max for each H2B ISA - can't imagine that a LISA would attract a wildly different fee?

locken

Apologies, the fee is actually £250 for both LISAs. Still a lot higher than the £100 quoted for the 2 HTB ISAs!

diggingdude

Tell them f off. There is no extra work, less infact. Mine didn't charge anything

datlex

Mine didn't charge any extra.

SarahB89

We've been quoted £75+VAT per LISA. Apparently the solicitor has had an awful experience with them so far, hence the charge.

diggingdude

SarahB89 wrote: »

We've been quoted £75+VAT per LISA. Apparently the solicitor has had an awful experience with them so far, hence the charge.

My heart bleeds....no it doesn't. It is a simple process and your solicitor is either having you on or doesn't understand what a LISA is which would worry me

locken

Thanks all, I'll give them a ring and tell them to trot on if it's the LISA causing the issue.