Additional Fees


Potential Fees relating to Alterations & Statutory Notices


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.


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)



Retention relating to a statutory notice

Cost (excl VAT)

£20

Brief Description

This situation arises on a sale and is important to read to read MMiExplains (Outcome 3)



Retention relating to a statutory notice being finalised

Cost (excl VAT)

£50

Brief Description

This relates to the position above and it is important to readMMiExplains (Outcome 3)



Potential Fees relating to Completion & Abandonment


MMiSecureCompletion System

Cost (excl VAT)

£30

Brief Description

As discussed in MMiExplains 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.


Transferring NHBC

Cost (excl VAT)

£30

If you are going through the process of selling your property that is less than 10 years old we may be asked by the purchasing solicitor to transfer the NHBC or equivalent documentation into their name. Whilst we are happy to do this, this is not something that is dealt with as part of our Standard Tariff, this will attract a nominal fee.


Transferring Specialist Guarantees

Cost (excl VAT)

£30 plus VAT

During the course of the sale of your property the purchaser may want you to transfer any guarantees that you may have for works such as dry rot, wet rot etc into their name. . Whilst we are happy to do this, this is not something that is dealt with as part of our Standard Tariff, this will attract a nominal fee.


Additional work for abortive fee

Cost (excl VAT)

according to circumstances

Sometimes transactions do not go all the way to completion for one reason or another. It may be the case that we have carried out extensive work on your behalf at the point whereby the transaction is terminated. The file is then passed to our Accounts department to allow them to fee your file quickly to allow you to move on – for cases such as this, an additional fee will be charged to cover the time taken to finalise your file.


Potential Fees relating to Complex Issues


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. More information can be found on the link below at Point 1: Title Issues



Dealing with complex title issues

Cost (excl VAT)

£95 (if there are very complex issues which necessitate further costs we will discuss these with you prior to any such expenditure)

Brief Description

Scotland is moving towards complete Land Registration which is great, but unfortunately there is are times when despite having a title registered at the Land Register anomalies can occur and issues arise. These can arise during the course of the purchase of your new home or can manifest themselves during the sale. Additional time will be required by our specialist solicitors to review and formulate a solution to enable you to move forward. This, as you will appreciate is not part of the Standard Conveyancing Service offered and will attract an additional fee.



Dealing with complex contract

Cost (excl VAT)

£95 (if there are exceptionally complex issues the costs may be greater but will be discussed with you first of all)

Brief Description

Missives are a big part of the Conveyancing process – without them there is no contract. For the most part missives will involve time but are hopefully not too complex. But there are occasions where complex and difficult drafting is involved require to enable you to be in the best possible position. Missives that deviate from what is industry ‘Standard’ will attract an additional fee.


Complex financial position of the Purchaser

Cost (excl VAT)

£120 (there are circumstances, particularly if a less common lender is involved where the costs may be greater but these will be discussed with you first)

Brief Description

Like most people these days, people purchasing property use a mortgage facility from many of the Country’s lenders. However, sometimes these lenders instruct their own solicitors – what that means is, rather than dealing with one solicitor in the transaction we have to liaise with two. This means additional work required during the process which will mean that an additional fee will be levied.


Complex financial position of the Seller

Cost (excl VAT)

£95 (if there are considerable complexities this may be greater but we will discuss the situation with you first)

For the majority, people who sell their property have to repay their mortgage (which we do as part of the service), but for others there are additional parties that require to be paid. As our Standard Service does not allow for this, an additional fee will be charged for each additional party that requires payment from the sale (please note, that this cannot be payments to third parties other than lenders or other solicitors).


Resolving any bankruptcy entries

Cost (excl VAT)

£75(in more complex situations additional fees will be incurred but we will advise you of these first)

During the course of your purchase or sale we may receive information that suggests you having a Discharged or live Bankruptcy. We would require to obtain a report to confirm the position to allow us to advise you moving forward with your transaction. This is out with the Standard Conveyancing Tariff, for which an additional fee will be applicable.


Potential Fees relating to Factors


Dealing with Factors (Retention at Settlement)

Cost (excl VAT)

£25.00

Brief Description

Where there is a Factor (or Property Management Agent) in a sale and we have to make a retention from the sale price to meet your common repairs obligations



Factors and intimation of sale and procuring information for purchaser

Cost (excl VAT)

£75.00

Brief Description

Where in a sale there is a Factor and the Purchaser's solicitors require full information including whether there are any repairs known or contemplated and where appropriate obtaining buildings insurance information.


Factors - dealing with a simple retention

Cost (excl VAT)

£15

Brief Description

This situation arises on a sale and it is important to read MMiExplains (Outcome 1)



Factors - dealing with the ultimate resolution of a straight forward retention

Cost (excl VAT)

£50

Brief Description

This relates to the position above and again it is important to read MMiExplains (Outcome 1)



Factors - dealing with a complex retention

Cost (excl VAT)

£20

Brief Description

This relates to the position above and again it is important to read MMiExplains (Outcome 2)



Factors - dealing with the ultimate resolution of a complex retention

Cost (excl VAT)

£50

Brief Description

This relates to the position above and again it is important to read MMiExplains (Outcome 2)


Potential Fees relating to ID & Source of funds


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.


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. More information can be found on the at MMi Explains on the link below at Point Four: Gifted Deposit



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.


Not using POA System

Cost (excl VAT)

£50

One of the ways that MMI/McVey and Murricane we are forging a ‘new way’ in conveyancing to match the time in which we live is by utilising our system that allows you to move forward at pace without having to interrupt your day, taking time off work to visit our offices. This also means that our Specialist Solicitors enable your transaction to be processed more efficiently. However, we do understand that for some they would prefer a more traditional approach is desired. We are more than happy to do this, but our Standard Service is not geared towards this; should you not wish to utilise our system an additional fee may be levied.


Gifter ID checks

Cost (excl VAT)

£45

If you are purchasing a property and are receiving a gift we will require to carry out a verification of the identity of the person from whom you are receiving the gift. As this is an additional service an additional fee will be charged to you.



Enhanced ID checks

Cost (excl VAT)

£75

If you are based overseas we will require to carry out an enhanced verification of your identity. This will attract an additional fee.


Additional work required for Source of Funds

Cost (excl VAT)

£45(in complex cases this can be greater advise you of the likelihood of additional charges)

As solicitors, we are heavily regulated and as such we require to review the source of any monies that you send to us. Normally this is a straightforward process, but sometimes additional checks are required. An additional fee will be charged in these cases.


Potential Fees relating to Land Registration & Titles


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)



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.


Potential Fees relating to Lenders & Help to Buy


Dealing with drawdown of Help to Buy ISA

Cost (excl VAT) -

£50.00 (for one ISA)
£75.00 (for two ISAs)

Brief Description

Where we require to liaise with your ISA provider for the drawing down of your ISA bonus.



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 over your property but wish the relationship between the first and second loan to be regulated


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.


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)

Brief Description

Where there is a second mortgage or loan secured over your property and dealing with the discharge of that mortgage


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.


Incorrect mortgage offer

Cost (excl VAT)

£50

Brief Description

Where in a purchase loan papers are sent to us with incorrect information we need to liaise with the Lender to remedy the mistake. This may result in amended loan papers being produced.


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 any action caused by McVey and Murricane

Cost (excl VAT)

£25

Brief Description

Where in a sale after completion your existing Lender processes an overpayment of which we were unaware.


Repayment of existing mortgage by CHAPS

Cost (excl VAT)

£30

Brief Description

Where in a sale your existing Lender stipulates that repayment to them has to be by CHAPS.


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


CML Disclosure

Cost (excl VAT)

£75 (in more complex cases this will be greater but we will discuss the matter with you first)

If you are using a mortgage to assist in the purchase of your property and it transpires that information that we hold is not consistent with the information in the mortgage offer we are obliged by regulations in place (under what is called the Council of Mortgage Lenders) to notify the lender. For the most part, these notifications are merely for information and do not have a bearing on your transaction. For instances in which this is required an additional fee will be charged to you.


Potential Fees relating to Negotiations/Interactions with third parties


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.


MMiElectronicStorage

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 MMiElectronicStorage 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.


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.


Moveable items negotiation

Cost (excl VAT)

£50

During the course of the initial negotiations for a property there can be a little ‘to-ing and fro-ing’ with regards to what items are being left and what are not. Sometimes these negotiations can be quite extensive and time consuming. For cases such as these an additional fee will be charged.



Potential Fees relating to Reports/Searches/Plan


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.


Property, Bankruptcy & Local Authority Searches

Cost (excl VAT)

£112.50

Brief Description

In a sale (and indeed sometimes albeit rarely in a purchase) it is essential to produce to the other solicitors Searches against the Property and the Title to ensure that there are no reasons which affect the saleability or marketability of the property.


Reprographics and Plans

Cost (excl VAT)

£9

Brief Description

Reproducing and annotating plans, alterations and other plan based material necessary to conveyancing


Dealing with issues relating to a Coal Report

Cost (excl VAT)

£50 (occasionally this will be higher but we will discuss the circumstances with you first)

Brief Description

As most of the central belt of Scotland was mined at one time or another, as a result we require during the course of your purchase or sale to review or obtain a Coal Authority Report. This is to ensure that the property that you are purchasing or indeed selling is not likely to have any issues as a result of previous mining activity. Sometimes, things do crop up that don’t necessarily mean that there is a problem, but that they require further investigation to ensure that is not the case. In cases such as this, meaningful additional time may be required and an additional fee is necessary.


Obtaining a Company Register Report

Cost (excl VAT)

£40

It can sometimes be the case that during the course of a sale, it transpires that one of the parties to the sale is a company – this can sometimes be the case in a purchase transaction too. We need to ensure that the Company is able to competently enter into the contract, so we require to check the company. This is done by obtaining a Company Register Report. This is an enhanced service which does not fall as part of our Standard Conveyancing Tariff, and incurs costs of interacting with the Company Register.


Dealing with obtaining a Plans Level 3 Report

Cost (excl VAT)

including the actual cost of the report from Registers of Scotland £100 plus VAT

If you are selling your property that is still registered in the old Sasine Register and it has exclusive garden ground we will require to obtain what is called a Plans Level 3 Report. The purpose of this report is to confirm that the property that you are selling is capable of being registered in the Land Register under the new regime that was introduced in 2014. There is additional work required in applying for this report that is not included in our Standard Tariff, meaning that you will be charged an additional fee.



Charges valid as of 14/07/2016.

Social media & sharing icons powered by UltimatelySocial
Facebook
Twitter
LinkedIn