We (FTB), are currently entangled in a process of purchasing a property. The mortgage we have settled upon is inclusive of free legal fees to a certain point.
As I write this, our solicitor (Appointed by Nationwide via LMS) has recently contacted us. Their search costs are a whopping £300 that they are demanding as an upfront payment. Is this reasonable?
In our region the council avails a “Full Official Search Report” Con29R and LLC1)” for £75.60
Again, a Chancel search isn’t inclusive, the indemnity charges stand at £14.
The Free Legal Fee Details, Entail:
Nationwide will cater for the legal work done basic fee involved in a standard property purchase and any additional legal fee, only if the property is Common-hold or Leasehold. The free legal fee offer doesn’t cover any payment for fees conveyancer needs to pay to 3rd parties.
Fees such as Local Authority searches and various search fees, Land registry fees and Stamp Duty and Registration fees. The offer also doesn’t cover charges and VAT payable to the conveyancer to deal with issues such as Stamp Duty settlement and Stamp Duty Land Tax Form submissions.