We completed on the purchase of our house 4 months ago and paid all the legal fees including a Telegraphic Transfer fee of £25 + VAT.
We have now received a demand for payment from our solicitor for £35 for a unpaid telegraphic transfer fee.
Please can someone advise whether we are supposed to pay for one or two telegraphic transfer fees when buying a house?
Answer by Paul
Well sounds very unprofessional doesn't it...You can insist that this and any other charges are fully detailed to you.....Normally you would expect ONE T.T. fee....but it may relate to one of the following.
Let us say your 1 transfer related to your purchase monies on completion.
others may be....
Transfer out of Deposit monies (unusual)
Transfer out to original Mortgage supplier on sold property to cover original loan (possible)
Transfer to your bank.....any balances left over from sale of old property and new purchase, say if your were down sizing........
If you used a new mortgage lender, they might have charged your solicitor for funds transfer, which he of course must pass onto you.....
Keep smiling and Enjoy your new Home.........
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Orignal From: Telegraphic Transfer fees when buying a house: how many do you have to pay?
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