When do you pay your Solicitor???

[djsim]

Hello All,

I got a bill from my solicitor on Friday last. We recently paid our first stage payment (deposit well paid) and I reckon it is a bit early to be paying my solicitor in full, I havent got my deeds to the house or anything. Is it normal to pay your solicitior mid way through buying a new house???

I would have thought that paying your solicitor would be the last transaction you would make after all documentation is in place???

Thanks for any help that you can provide,
James.

 

[gianni]

Our fella took the money from us as soon as the mortgage was drawn down. The mortgage was 100% but we'd self financed the deposit (*barely*). Therefore when the mortgage was drawn down he took his cut before "refunding" us the balance.

We have yet to receive all documents..

 

[Vanilla]

It would be normal to pay the solicitor in full their fees and all outlay on the first stage payment. This is because:

1. OFten at first stage payment a draw down is necessary from your bank- your bank has a clause in your loan stating that the solicitor must be in funds to stamp and register the property before any money is released from the loan.

2. Often at the first or second stage payment best practice is that there is a transfer of the site into your name at this stage and then stamp duty if any is immediately payable and thereafter land registry fees are immediately payable as are search fees etc. Most of the legal work is in fact complete at this stage.

Finally if you have a mortgage you will not receive your deeds until the mortgage is repaid- your solicitor is under an obligation to send them instead to the bank. And it can take a year or longer to register the transfer because of waiting times in the land registry- a government office so even if your solicitor were to send you a complimentary copy of your title, this will not be for quite a while.

 

[djsim]

thanks for your help, it kinda makes sense. I hate paying for this that you dont have yet. Sure I suppose that is life.