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Conveyancing fees paid on account

Hi,

When buying my first home and I instructed my solicitor they requested a payment on account of £450.00, does this get deducted off my final balance or is this an extra payment? I have since received my interim bill and its alot more than I thought it would be 

Comments

  • Syman
    Syman Posts: 2,614
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    it would be the charge for the initial searches i believe.

    it should be deducted from the final bill.
    Never put off till tomorrow what you can do today!:mad:
    Cos if you do it today and like it...You can do it again tomorrow.. :p


    Bookworm's Thread 2019 reading Challenge total :- 1/60
  • Syman said:
    it would be the charge for the initial searches i believe.

    it should be deducted from the final bill.
    Thank you, that's what I thought but got me thinking maybe I had it wrong 😕 
  • Tiglet2
    Tiglet2 Posts: 2,459
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    Yes, very normal.  You're solicitor won't actually start working on your file until they have monies on account, but the majority of the monies will be for searches, which is classed as a disbursement, i.e. not the solicitor fees, but other charges from third parties.

    It will be all be taken into account in your final bill.
  • As above.

    I imagine the interim bill is higher than expected because the conveyancer quoted a low rate for their fees, but then had a number of extras listed in their T & C (which you may not have read carefully.....)
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