Estate agent fees on credit card?

Elasrofton

Hi, are you able to pay for estate agent fees on interest free credit card. We are way within our affordability so repayment isn’t an issue. 

Do you pay the EA direct or is it done through the solicitor?

Many Thanks 

kipperman

As far as I can remember with our house purchases any payment has been made by the Solicitor on completion. I doubt very much that they would accept credit cards and the associated fees if they don't have to!

Tiglet2

It is usually paid by the solicitor out of the sale proceeds on completion, but you can opt to pay the estate agent yourself.  There may be an additional TT fee charged by the solicitor. 

Estate Agents prefer to get paid by the solicitor because they know they'll get their commission on the actual completion date, rather than rely on the client to pay in a timely manner without them having to chase the client.

eddddy

Estate agents contracts generally say that you agree that your solicitor will pay them on completion.

However, I doubt an Estate Agent would object in principle, if you offered to pay them in a different way - perhaps a few days before completion.

(And you'd have to instruct your solicitor not to pay the estate agent as well.)


But...

• That would require the estate agent to have facilities to accept credit cards - I doubt that most estate agents have that

• That would require the estate agent to absorb the credit card fees - they might not want to

• Mortgage lenders sometimes do a final credit check just before completion. If it's just after you've paid the estate agent, they might see that you've just run-up a few thousand pounds in new credit, and it might ring alarm bells. (But it wouldn't be an issue after completion.)

Flugelhorn

the only thing they may want upfront is the EPC and any extra fancy photographs / videos etc etc - otherwise all on completion

diystarter7

From memory all via solicitors.
Can you not pay in part by CC your solictor but they may charge a fee as they always do.

housebuyer143

eddddy said:

Estate agents contracts generally say that you agree that your solicitor will pay them on completion.

However, I doubt an Estate Agent would object in principle, if you offered to pay them in a different way - perhaps a few days before completion.

(And you'd have to instruct your solicitor not to pay the estate agent as well.)


But...

• That would require the estate agent to have facilities to accept credit cards - I doubt that most estate agents have that

• That would require the estate agent to absorb the credit card fees - they might not want to

• Mortgage lenders sometimes do a final credit check just before completion. If it's just after you've paid the estate agent, they might see that you've just run-up a few thousand pounds in new credit, and it might ring alarm bells. (But it wouldn't be an issue after completion.)

I used to work at Connells and they took away the ability to accept credit cards a few years ago. I would be surprised if you can pay this way.

Elasrofton

eddddy said:

Estate agents contracts generally say that you agree that your solicitor will pay them on completion.

However, I doubt an Estate Agent would object in principle, if you offered to pay them in a different way - perhaps a few days before completion.

(And you'd have to instruct your solicitor not to pay the estate agent as well.)


But...

• That would require the estate agent to have facilities to accept credit cards - I doubt that most estate agents have that

• That would require the estate agent to absorb the credit card fees - they might not want to

• Mortgage lenders sometimes do a final credit check just before completion. If it's just after you've paid the estate agent, they might see that you've just run-up a few thousand pounds in new credit, and it might ring alarm bells. (But it wouldn't be an issue after completion.)

Last minute mortgage wouldn’t effect as we are borrowing less than we can get but if it’s not something EA do then that’s that I suppose 

eddddy

diystarter7 said:

Can you not pay in part by CC your solictor but they may charge a fee as they always do.

FWIW - since June 2018, businesses aren't allowed to charge a fee (or surcharge) for accepting a payment by credit card.

Which is one reason that businesses like solicitors and estate agents don't accept credit cards (or stopped accepting them in June 2018). They don't want to have to pay, maybe, 1% to 3% in fees.

See: https://www.gov.uk/government/news/card-surcharge-ban-means-no-more-nasty-surprises-for-shoppers




Edit to add...

So the interest free credit period that the OP is looking for isn't really "free" - it comes out of the 1% to 3% fee paid by the business.

So more generally, a better option might be to say "Will you give me a 2.5% discount, if I don't pay by credit card?"

But "interest free" deals are likely to change following the recent increases in interest rates.

Mutton_Geoff

You'll have plenty of other house moving expenses plus day to day living costs that can all be charged to an interest free card to take advantage of any offer you may have from the card companies.