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Conveyancing Fees

Conan1Sett
Conan1Sett Posts: 128 Forumite
Fourth Anniversary 10 Posts Name Dropper
in House buying, renting & selling
Hello everyone,

I recently paid £300 of "initial fees" to the firm handling conveyancing on my behalf. I was given an estimate of £1050 at the end of the process. So yeah, I'm expecting to be £750 lighter just before I get my keys. Is there any way to pay this on credit? 

I asked the frim if I can use a credit card and one particular individual said that "they cannot accept payment of conveyancing fees by way of credit card." Has anyone ever obtained an agreement to pay conveyancing fees monthly? Maybe in two or three payments? I ask for the sake of budgeting. 

Comments

  • MovingForwards
    MovingForwards Posts: 17,178 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    No they will want all the money in readiness to complete the purchase, which will probably be in 3 or 4 months time, unless you're in Scotland then it will be a lot sooner.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • Conan1Sett
    Conan1Sett Posts: 128 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    MovingForwards said:
    No they will want all the money in readiness to complete the purchase, which will probably be in 3 or 4 months time, unless you're in Scotland then it will be a lot sooner.
    Well I started the process on the 2nd February. 
    Would it be possible to withdraw the money from my 0% card and deposit it into my bank account? Would the new credit balance affect everything to such a point that the deal will not reach completion? 
  • hazyjo
    hazyjo Posts: 15,476 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 27 March 2021 at 2:26PM
    It's never a good idea to take cash out using a credit card. I don't think it reflects too well on your credit history.

    Can't you just use your credit card for other expenses, shopping etc?
    2024 wins: *must start comping again!*
  • Conan1Sett
    Conan1Sett Posts: 128 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    hazyjo said:
    It's never a good idea to take cash out using a credit card. I don't think it reflects too well on your credit history.

    Can't you just use your credit card and other expenses, shopping etc?
    Yeah, it's possible. 
  • Kyresa
    Kyresa Posts: 1,534 Forumite
    Part of the Furniture 1,000 Posts
    You also need to bear in mind you've been given an estimate.  Estimates can change depending on the work involved....  

  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Sometimes estimates leave out vat, which can force the final bill up, so be prepared for a final statement that's more than the quoted estimate.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    The time to ask this was when you instructed them.
  • Conan1Sett
    Conan1Sett Posts: 128 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    AdrianC said:
    The time to ask this was when you instructed them.
    When I instructed them I was pre-supposing that I could control my spending and that the final bill would be close to the estimate. My quote was £1050 but I've read that the final fees total can total to between £800-£1500 depending on various factors. 

    I would be using my monthly wages to pay the fees barring any credit cards, family members or another unsecured personal loan I could potentially take out but I'm aware that I have already declared my current outgoings as X so an extra £100 per month tied up might be dishonest? Could it potentially make the deal fall through? 
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