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Solicitors Disbursements
Solicitors conveyancing fees and
disbursements of the transaction are set out in full on the solicitors estimate.
CMS have negotiated discounted rates for most local searches which are shown in
your quotes. However, if your lender does not accept using a personal search
company you may have to pay the normal local authority search fee which could be
higher than that quoted by CMS (although this is rare).
This could apply to either a purchase or a re-mortgage. Whilst a single
telegraphic transfer fee may be quoted some lenders may require more than one
fee for multiple transactions. Certain lenders may
also insist that an environmental or other search may be required in which case
the client will be liable for the extra cost involved. Your
solicitor/licensed conveyancer will ask you to pay for the local search in
advance. The balance of the payment of Legal costs and disbursements must be
paid by you in cleared funds prior to legal completion.
Please note that the disbursements in your quote are calculated on the
information given at the time of the quote. If the information given proves
incorrect or changes later on this may change the disbursement figures. This is
because Stamp Duty and Land Registry fees are calculated on the value of the
consideration being paid for the property/share of the property. All
disbursements given are correct at the time the quote is given but are subject
to change if the relevant authority increases or decreases their fees. For
instance Stamp Duty, VAT and H M Land Registry fees are all subject to change by
Government bodies and may increase or decrease.
Credit/Debit card payments:
Many of our panel solicitors will now accept payment of the conveyancing fee,
VAT and disbursements by credit or debit card. Please note that in some
instances a small handling charge will be made to cover bank and administration
costs.
Searches: CMS have not included
the cost of a local authority or drainage search in your quote. This is because
most properties for sale will now have a Home Information Pack that should by
law include these searches which you can use for free. If the property you are
buying does not have a HIP or the searches are no longer valid your solicitor
must carry out as a minimum a personal local authority search and a drainage
search. Your lender may also request or your solicitor may advise on additional
searches such as environmental and chancel check. CMS have negotiated a special
fixed rate of £100.00 for a personal local authority search or £215.00 for a
search pack which includes personal local authority search, drainage,
Environmental and Chancel check.
Should the matter
not proceed to legal completion you will be obliged to pay for all searches and
disbursements which the solicitor/licensed conveyancer has incurred on your
behalf. If the matter proves abortive before exchange of contracts you will not
be charged for the conveyancing services. Should the matter prove abortive/ or
should you change solicitors after exchange of contracts then the
solicitor/licensed conveyancer shall be entitled to be paid a fair proportion of
the cost of the conveyancing services.
Conveyancing Marketing Services
Limited charges you at the agreed rate set out on the estimate for the
conveyancing service which the panel firm of solicitors provide for you. The
panel firm of solicitors in turn charges Conveyancing Marketing Services Limited
for supplying the service to you. Conveyancing Marketing Services Ltd is
remunerated out of the overall fee you pay rather than by making a further
separate charge.
Terms and Conditions continued
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