Additional Conveyancing Fees

As will be clear from the various articles on this website, conveyancing in Scotland has become a difficult and complex process. There are many factors which can impact upon the difficulties and additional time that might be involved in any particular transaction. The aim of iconveyancing.scot is to keep fees as competitive as possible but that means that where some particular aspect of a transaction involves greater work than might initially have been anticipated, we do need to levy an additional charge.

Clients naturally want to avoid shocks and accordingly we have published a menu of additional charges covering different circumstances. That means, before the transaction starts, clients can be aware of their own circumstances and where this might create additional charges. Of course there can also be circumstances which are entirely unanticipated but the inconveyancing.scot philosophy is to ensure that we advise clients of any problems as they arise and these can be cross referred to the menu of additional charges.

Broadly speaking additional charges can arise from a number of categories. The source of the charge will often impact upon whether there is any alternative resolution to carry out the additional work.

These are the factors that create additional charges:

  • issues that relate to the client (an example of these would be where there were ID or issues relating to source of funds which is a requirement imposed upon solicitors by various regulators and governments)
  • issues that arise because of requirements of a lender on a purchase. When purchasing property, most people rely upon obtaining finance from a mortgage provider or lender. Those mortgage providers or lenders will only provide funds on the basis of various conditions being met. Accordingly, there could be an issue with an alteration to a property where the client was completely unconcerned and did not wish any additional work to be carried out to remedy any lack of consents. However, if the lender required the relevant consents to be in place, which is normally the position, the work would require to be carried out.
  • Issues that arise because of the nature of the property which is at the core of the transaction. Generally speaking the more rural the setting of a property the more likelihood that there will be conveyancing problems. Additionally when it comes to flats, the older the property and the poorer its condition again the more likelihood that complexities will arise. At the other end of the scale because of various regulations new properties often involve additional work.
  • Issues that arise because of other parties to a transaction. An example of this is where the client is purchasing from a lender who has repossessed the property. In these circumstances the seller, the lender who has repossessed, has no close connection to the property and will not be prepared to warrant any issues or provide anything other than the basic information. However the lender who is providing the client with the new mortgage does require information about aspects of the property and inevitably in the circumstances extra work is involved. Other circumstances which create problems are where properties are being bought from a seller who is in financial difficulties, a seller who is a trust, a seller who is splitting a piece of ground or a seller who is no great interest whether or not the transaction is proceeding (an example is where a property is being purchased from a council)

Dealing with alterations

Cost (excl VAT) -
£95.00
Brief Description
Where in either a sale or purchase there is a requirement to investigate alterations to a property (this may extend to liaising with the surveyor who prepared the Home Report). In complicated circumstances this cost may increase but we will always notify you before carry out any additional work.


Dealing with indemnity policy required to enable the transaction to complete

Any additional disbursements
According to circumstances
Brief Description
Where there is need for example in a sale for an indemnity policy for alterations. The premium may vary but you will always be advised before procurement.


Dealing with independent solicitors (to send monies required from them for a sale or remortgage)

Cost (excl VAT)
£100.00
Any additional disbursements
£36.00 (if the funds are being sent by CHAPS)
Brief Description

Where for example we are acting for you in a sale or remortgage transaction but another legal firm are acting for you in a purchase transaction.


Dealing with Factors

Cost (excl VAT)
£50.00
Brief Description
Where there is a Factor (or Property Management Agent) in a sale and we have to not only intimate the sale to the Factor but also to procure factoring information for the purchaser.


Dealing with an unsecured loan

Cost (excl VAT)
£25.00
Any additional disbursements
£36.00 (if the funds are being sent by CHAPS)
Brief Description
Where for example your Lender has made it a condition of your loan that any unsecured loan must be repaid.


Deed of guarantee

Cost (excl VAT)
£150.00
Brief Description

Where it is a condition of your loan that you have to grant a guarantee.


Deed of postponement

Cost (excl VAT)
£195.00
Any additional disbursements
£60.00 (registration fee to Land Registers)
Brief Description
Where your existing Lender has agreed to allow a further charge on the property to be granted.


Deed of variation

Cost (excl VAT)
£195.00
Any additional disbursements
£60.00 (registration fee to Land Registers)
Brief Description
Where your existing Lender agrees to allow the loan to be varied in some way for example allowing a party to be removed from the mortgage.


Defective title

Cost (excl VAT)
£150.00 per hour
Brief Description

This charge will apply in either a sale or purchase where additional work is carried out to remedy a title problem.


Delay in returning regulatory questionnaire

Cost (excl VAT)
Up to £50
Brief Description
Where in a sale or a purchase there delay on your part to return the regulatory questionnaire which leads to additional work on our part to ensure compliance with our regulatory requirements.


Discharging a second security and where necessary dealing with repayment

Cost (excl VAT)
£95.00
Any additional disbursements
£60.00 (registration fee to Land Registers)


Drafting a statutory declaration relating to a Search

Cost (excl VAT)
£50.00
Brief Description
This is a statement that has to be signed by you in certain circumstances in either a sale or purchase where you have to make a declaration of some sort. For example where a Title Search has disclosed a person with a similar name to you and you have to declare that the disclosure does not relate to you.


Drafting a statutory declaration relating to historic alterations

Cost (excl VAT)
£50.00
Brief Description
This is a statement that has to be signed by you in certain circumstances in a sale or purchase where you have to make a declaration that alterations to the property are historic (usually over 20 years)


Drafting assured shorthold tenancy

Cost (excl VAT)
£95.00
Brief Description

Where it is a condition of your loan that the Lender sees a short assured tenancy agreement and you do not have one already prepared.


Factors and intimation of sale and procuring information for purchaser

Cost (excl VAT)
£75.00
Brief Description
Where is a sale there is a Factor and the Purchasers solicitors require full information including whether there are any repairs known or contemplated and where appropriate obtaining buildings insurance information.


First registration at Land Registers

Cost (excl VAT)
£95.00
Brief Description
Where in either a sale or purchase the property is still based in the old Sasines Register as there is substantial additional work required to ensure that the title will be registerable in the new Register. Indeed the cost may be increased in certain circumstances (see defective title category)


Gifted Deposits

Cost (excl VAT)
£95.00
Brief Description
Where you are purchasing a property and receiving a gift from friends or family towards your deposit. Because these are areas which lenders believe to be potentially prejudicial to their lending extensive communications are necessary to ensure your mortgage is available. If you are borrowing any of your deposit there are likely to be additional issues and costs which would be discussed with you.


ID

Cost (excl VAT)
£7 per person
Brief Description

Various pieces of legislation requires us to identify parties to the transaction as part of anti money laundering requirements.


Land Register Downloads & Access

Cost (excl VAT)
£8
Brief Description
For your benefit where we can we always obtain a copy of the latest electronic Land Certificate relating to the property as well as any other relevant documentation from the registers. Obtaining an electronic copy allows a very considerable saving in time as well as reducing potential issues.


ElectronicStorage

Cost (excl VAT)
£20
Brief Description
In these more challenging times, we find that both clients and particularly their lenders require access to information from the transaction on several occasions after its conclusion. To avoid making a time charge on each occasion that there is a request for information post-completion, the Electronic Storage system has been developed to allow information to be made freely available following completion. The charge of £20 means that you will receive no further charges in respect of access to information from the file.


SecureCompletion System

Cost (excl VAT)
£30
Brief Description
As discussed in the Client Guide and elsewhere the process for completing Scottish conveyancing transactions is generally rather archaic. This involves submitting cheques which are held pending all the paperwork being completed. To ensure that the completion is effected as smoothly as possible, our practice is to send cheques by guaranteed arrangements. Such arrangements are not just in respect of the arrival of the cheque on the correct day but at the correct time so as to allow both keys and money transfers in a practicable fashion.


Negotiating moveable items

Cost (excl VAT)
£75
Brief Description

Where in a sale or a purchase we have to negotiate the purchase of moveable on your behalf there may be a charge not exceeding the amount in the fee column.


Pending repossession

Cost (excl VAT)
£150
Brief Description
Where in a sale we have to liaise with the solicitors for your Lenders. In complicated circumstances this cost may increase but we will always notify you before carry out any additional work.


Processing an overpayment received from a previous lender not due to our the fault

Cost (excl VAT)
£25
Brief Description
Where in a sale after completion your existing Lender processes an overpayment of which we were unaware.


Retention(Factors) (simple) to be set up

Cost (excl VAT)
£15
Brief Description
This situation often arises on a sale where there is a factor or property manager who wishes to make a retention to cover charges up to the date of entry


Retention (Factors ) (simple) to be finalised

Cost (excl VAT)
£50
Brief Description
This arises when a retention has been made by a factor and further correspondence is required at a later date to release that retention.


Retention (Factors) (complex) to be set up

Cost (excl VAT)
£20
Brief Description
This situation often arises on a sale where there is a factor or property manager who wishes to make a retention to cover charges up to the date of entry


Retention (Factors) (complex) to be set up

Cost (excl VAT)
£50
Brief Description
This relates to the position above and again it is important to read MMiExplains (Outcome 2)


Retention relating to a statutory notice to be set up

Cost (excl VAT)
£20
Brief Description
Where a property is subject to statutory notice which has been lodged by the local authority (this will generally relate to tenement flats) various arrangements require to be implemented where monies are to be retained to deal with the statutory notice.


Retention relating to a statutory notice to be finalised

Cost (excl VAT)
£50
Brief Description
Sometimes several years after the transaction is complete there is a need to unwind a retention for statutory notice and additional works may be required at the time of the release of the funds to ensure completion of the matter.


Satisfying a special condition in the mortgage offer

Cost (excl VAT)
£90
Brief Description

Where in a purchase your Lender has imposed a special condition