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LISAs vs HTB ISAs - Conveyancing fees

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locken
locken Posts: 3 Newbie
in House buying, renting & selling
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!

Comments

  • Emanresu321
    Emanresu321 Posts: 6 Forumite
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    Solicitors are allowed to charge £60 max for each H2B ISA - can't imagine that a LISA would attract a wildly different fee?
  • locken
    locken Posts: 3 Newbie
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    Apologies, the fee is actually £250 for both LISAs. Still a lot higher than the £100 quoted for the 2 HTB ISAs!
  • diggingdude
    diggingdude Posts: 2,445 Forumite
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    Tell them f off. There is no extra work, less infact. Mine didn't charge anything
    An answer isn't spam just because you don't like it......
  • datlex
    datlex Posts: 2,239 Forumite
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    Mine didn't charge any extra.
    Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
  • SarahB89
    SarahB89 Posts: 38 Forumite
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    We've been quoted £75+VAT per LISA. Apparently the solicitor has had an awful experience with them so far, hence the charge.
  • diggingdude
    diggingdude Posts: 2,445 Forumite
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    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
    An answer isn't spam just because you don't like it......
  • locken
    locken Posts: 3 Newbie
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    Thanks all, I'll give them a ring and tell them to trot on if it's the LISA causing the issue.
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