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  • FIRST POST
    • locken
    • By locken 17th May 19, 1:43 PM
    • 3Posts
    • 0Thanks
    locken
    LISAs vs HTB ISAs - Conveyancing fees
    • #1
    • 17th May 19, 1:43 PM
    LISAs vs HTB ISAs - Conveyancing fees 17th May 19 at 1:43 PM
    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!
Page 1
    • Emanresu321
    • By Emanresu321 17th May 19, 2:14 PM
    • 6 Posts
    • 9 Thanks
    Emanresu321
    • #2
    • 17th May 19, 2:14 PM
    • #2
    • 17th May 19, 2:14 PM
    Solicitors are allowed to charge 60 max for each H2B ISA - can't imagine that a LISA would attract a wildly different fee?
    • locken
    • By locken 17th May 19, 2:39 PM
    • 3 Posts
    • 0 Thanks
    locken
    • #3
    • 17th May 19, 2:39 PM
    • #3
    • 17th May 19, 2:39 PM
    Apologies, the fee is actually 250 for both LISAs. Still a lot higher than the 100 quoted for the 2 HTB ISAs!
    • diggingdude
    • By diggingdude 17th May 19, 4:51 PM
    • 776 Posts
    • 1,015 Thanks
    diggingdude
    • #4
    • 17th May 19, 4:51 PM
    • #4
    • 17th May 19, 4:51 PM
    Tell them f off. There is no extra work, less infact. Mine didn't charge anything
    House owner as of 27.3.2019
    Free Tumble drier fund 44 (March) 88.04 (April)
    • datlex
    • By datlex 17th May 19, 4:57 PM
    • 2,040 Posts
    • 2,493 Thanks
    datlex
    • #5
    • 17th May 19, 4:57 PM
    • #5
    • 17th May 19, 4:57 PM
    Mine didn't charge any extra.
    Sealed Pot Challenge no 37, Attempting Frugal Living. Became debt free at the end ot 2016. Used savings from becoming debt free to put a deposit on a bungalow last year now working on becoming Mortgage free by overpaying. (without overpayment MFW date is 2036)
    • SarahB89
    • By SarahB89 17th May 19, 5:04 PM
    • 21 Posts
    • 31 Thanks
    SarahB89
    • #6
    • 17th May 19, 5:04 PM
    • #6
    • 17th May 19, 5:04 PM
    We've been quoted 75+VAT per LISA. Apparently the solicitor has had an awful experience with them so far, hence the charge.
    • diggingdude
    • By diggingdude 17th May 19, 9:59 PM
    • 776 Posts
    • 1,015 Thanks
    diggingdude
    • #7
    • 17th May 19, 9:59 PM
    • #7
    • 17th May 19, 9:59 PM
    We've been quoted 75+VAT per LISA. Apparently the solicitor has had an awful experience with them so far, hence the charge.
    Originally posted by SarahB89
    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
    House owner as of 27.3.2019
    Free Tumble drier fund 44 (March) 88.04 (April)
    • locken
    • By locken 18th May 19, 3:52 PM
    • 3 Posts
    • 0 Thanks
    locken
    • #8
    • 18th May 19, 3:52 PM
    • #8
    • 18th May 19, 3:52 PM
    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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