I am in the process of completing on a mortgage, but the legal fees seem to be much higher than the KFI indicated, and for different things. Could someone in the know please let me know if they are fair costs or inflated?
(Background: I am buying a half share from my current co-owner to become the sole owner of my home.)
KFI Estimates:
Other Fees
A non-refundable legal fee payable to your legal adviser for acting on our behalf and payable before the loan starts. The figure quoted here is only an indication and is only part of the cost of the overall legal work. The total fee will be higher. Please ask your legal adviser for details. = £117.00 I do not have a legal adviser, so surely this does not apply?
Land Registry registration fee to register our mortgage over your property following completion. This fee is payable to our legal adviser on or before completion and is only refundable if your mortgage does not go ahead. The fee opposite applies to registered properties in England and Wales only. For unregistered properties in England and Wales and for properties in Scotland and Northern Ireland (whether registered or unregistered) different fee scales apply. Our legal adviser will confirm the exact fee payable. = £80.00
You may have to pay other taxes or costs in addition to any fees shown here.
Actual Costs charged by the Lawyers acting for the mortgage company:
Costs Total
Santander UK plc £205141.32
Additional Bankruptcy Fee £12.00
Bankruptcy Fee £4.00
Consideration £23000.00
Electronic ID Check Fee £4.00
Gordons Legal Fee £234.00
HMLR Registration Fee £40.00
Lender TT Fee £36.00
Local Search Insurance £11.00
OE Fee £3.00
OS1 Fee £3.00
Planning Permissions/Buildings Regulations £60.00
Removal of Sole Proprietor Restriction Fee £120.00
SDLT Processing Fee £7.20
SDLT Administration Fee £16.80
Stamp Duty £1255.00
Transfer of Equity Fee £300.00
Most of these items were not mentioned in the KFI - do I have grounds for complaint or negotiation?
Thanks!
(Background: I am buying a half share from my current co-owner to become the sole owner of my home.)
KFI Estimates:
Other Fees
A non-refundable legal fee payable to your legal adviser for acting on our behalf and payable before the loan starts. The figure quoted here is only an indication and is only part of the cost of the overall legal work. The total fee will be higher. Please ask your legal adviser for details. = £117.00 I do not have a legal adviser, so surely this does not apply?
Land Registry registration fee to register our mortgage over your property following completion. This fee is payable to our legal adviser on or before completion and is only refundable if your mortgage does not go ahead. The fee opposite applies to registered properties in England and Wales only. For unregistered properties in England and Wales and for properties in Scotland and Northern Ireland (whether registered or unregistered) different fee scales apply. Our legal adviser will confirm the exact fee payable. = £80.00
You may have to pay other taxes or costs in addition to any fees shown here.
Actual Costs charged by the Lawyers acting for the mortgage company:
Costs Total
Santander UK plc £205141.32
Additional Bankruptcy Fee £12.00
Bankruptcy Fee £4.00
Consideration £23000.00
Electronic ID Check Fee £4.00
Gordons Legal Fee £234.00
HMLR Registration Fee £40.00
Lender TT Fee £36.00
Local Search Insurance £11.00
OE Fee £3.00
OS1 Fee £3.00
Planning Permissions/Buildings Regulations £60.00
Removal of Sole Proprietor Restriction Fee £120.00
SDLT Processing Fee £7.20
SDLT Administration Fee £16.80
Stamp Duty £1255.00
Transfer of Equity Fee £300.00
Most of these items were not mentioned in the KFI - do I have grounds for complaint or negotiation?
Thanks!