Conveyancing disbursements
The definition of
disbursement is a payment that has to be
made to a third party. When you see the word
‘disbursement’ on a
conveyancing estimate or quote
you would assume therefore that the items listed
under the
disbursements section would be payments
that the
solicitor will be making on your behalf to
third parties. This is not always the case and items
are often wrongly listed in the
disbursements
section.
Some
conveyancing firms charge
an unrealistically
low conveyancing fee hoping that
the consumer will just compare that fee to other
companies fees and accept is on face value as a
lower quote. However, it is very important to check
the TOTAL amount quoted by the
conveyancing firm as
some companies are in the habit of including part of
their
conveyancing fees in the
disbursements
section.
Listed below are
genuine
disbursements with an explanation of what the
payment is for. We have also listed some items that
you may find in the disbursements section of some
firms that are
not genuine
disbursements
but
are part of that firm’s charges:
Genuine
Disbursements
.
H M Land Registry
fees When
you buy a property, take out a new
mortgage or transfer a share in a
property the transaction must be
registered at the Land Registry. The
Land Registry charge a fee for
registering the transfer and this is on
a sliding scale depending upon the price
of the property. To check the current
Land Registry fees visit
www.landregisteronline.gov.uk
.
Official Copy Entries
and Filed Plan
When you sell or
remortgage a property your solicitor
will apply to the Land Registry for an
Official copy of the deeds relating to
your property and an Official Copy of
the filed plan relating to your
property. If the Official copy refers
to a document that is not set out in the
Official copies then your solicitor will
also have to obtain an Official copy of
that document. Sometimes when you are
buying your solicitor will obtain an
Official copy of the filed plan to use
for search purposes.
Searches
When you buy a
property or take out a
new mortgage you
will have to have certain legal searches
carried out against the property.
Disbursements continued
